Now that you’ve landed a sweet job and you’re getting paid, all that money may start burning a hole in your pocket. Of course you want to spend it. But if you want to make sure you still have some cash by the time your next paycheck appears, you’re going to want to learn about budgeting.
There’s rent, groceries, a phone bill, the cost of public transit or a car, and maybe school debt on top of all that. Before you know it, there seems to be nothing left. Keeping track of your cash can be a chore, but having an App to help you out can take the stress out of money management. Below are our Top Five Budgeting Apps.
As a free app, it’s hard to describe Mint as anything other than great. It connects to your bank account. Don’t worry, Mint doesn’t access your money, it just reads the data. One of the best things about Mint is that it looks at your transactions and automatically categorizes them into things like Entertainment, Food/Groceries, Bills etc. It then puts this information into easy to read charts so you can see how much you’re spending and where.
Mint also allows you to set goals for spending and saving and charts where you are with each of those goals. Saving up for a new laptop? Choose the amount it’ll cost, and when you want have it by and Mint will allot the right amount each month!
PocketGuard – Free
This back account tracking and budget management app shows you how much you have in your accounts along with how much you can afford to spend each day. It connects to your bank card accounts through an encrypted, read-only connection, while automatically sorting your purchases, subscriptions and bill payments to provide you with an estimate of how much you can spend safely without going into the red.
Budgt – $0.99
One of the concerns you may have with both of the previous options is that they hooks up with your bank account. This means that they do a bunch of the work for you, detecting your earnings and spending habits. But we understand if you’re hesitant. If you’d rather not have an app connected to your accounts, BUDGT is a great option.
BUDGT has a lot of the same features as the previous app including options for savings, reminders about spending and options where you can set it up to allow more spending on specific days, like weekends. BUDGT is a great option if you don’t mind doing the work of inputting all your own data.
Wally – Free
Wally is great for the organized types. It helps you compare your income to your expenses, understand where your money goes and set and achieve goals. Rather than logging in your expenses, with Wally you can take a photo of your receipts. With Wally you can create and view expenses while keeping track of how much you’re spending to help you stay within your savings goals.
Your Bank’s App
Having your banking at your fingertips can be really helpful when it comes to paying bills, knowing how much money you have and moving money around in a pinch.
While every bank’s app is different, if your bank has an app, it usually offers a number of helpful features. Most apps now have the ability to deposit a check just by taking a picture of it. This can be really helpful if an ATM isn’t near by and you want to have that money right away.
Pick a Budgeting App
While a budget might be the last thing you’re thinking about now that you have a steady flow of cash, keeping and eye on your finances is essential if you don’t want to spend it all in once place. These are our favorite apps, but there are lots out there. If you have a favorite app we haven’t mentioned, we’d love to hear about it.