Monday, January 28, 2019

Best Budget and Money Management Apps



Times are hard. Whether you make a lot of money or you are barely making to the end of the month, keeping track of where your money is going is important. There are plenty of ways you can track and record your investments, spendings, etc. Since most of the time your smartphone is with you in your pocket, mobile apps are a great option to track everything.

There are plenty of apps available on the market and new arrivals pop up every week or so. Therefore, dividing good apps from poorly built ones can be a big problem. A good app can save you from the complexity of managing your personal finance life. It can show you specific problems with your finances like lack of savings, excessive credit card debts, spendings on things you don't use or need (gym memberships) or can help you with digitizing or editing your receipts.

Budgeting apps can be compared to Apple Watches where instead of tracking and reporting time and your heartbeat, your budget app will monitor your earnings and spendings. So the question is, which budget and money management apps are the best in class? We compiled a list of the ones we think are the most interesting, each having strengths of money management apps with some unique features that stand out.


Image to Word Converter


This is the best way to convert images of your receipts or other financial documents to MS Word right on your mobile device. Simply take a photo of your paper or onscreen document and the app will do its magic. It will convert it to editable MS Word document with ease. 

Powerful OCR engine is used for conversions so excellent text recognition and conversion quality are guaranteed. Most popular cloud service like iCloud, Dropbox and Google Drive are supported which means you can convert images directly from the cloud. Instead of using a scanner and then converting scans to editable files, let this app do the job for you and save you time in the process.

Price: Free

Available on: Android and iOS





Mint


There are barely any things not to like about the Mint app. The app seamlessly syncs to your bank account and tracks all your incomes and expenses. It creates personal budget tailored just for you, tracks all your bills and even provides notifications and alerts so you never miss out any payments. 

Mint regularly informs you about your credit score and provides you with special tips and strategy ideas on how to improve it without using a credit card. The app can work across many different financial platforms like brokerage or retirement savings account, your bank account, credit card account etc. And the best thing is, it's free to use.

Price: Free

Available on: Android and iOS


Acorns


Everyone knows that it is smart to invest some money, right? But it's often easier said than done. To save you time with finding great investment options, we decided to introduce you to the Acorns app. It is very similar to Qapital app. The only difference is that instead of saving a virtual change it took from your account, it reinvests it. 

This is the great way to start investing with literally no effort from your side. You simply set everything up and the app will do the rest. The app invests your money in the diversified investment portfolio of stocks and bonds that you own. Or you can choose to save money for retirement.

Price: Free

Available on: Android and iOS


PocketGuard


The name of the app is self-explanatory. Simply said, the app will save you from overspending. It links to all your financial accounts and track and compare your spendings to your monthly budget. It is very easy to set up the app and connect it to all your accounts. 

It will track your monthly income, savings, expenses, and bills. You even have an option to track specific bills and the app will help you find opportunities to save even more. For example, PocketGuard can look at bills from TV, cable or phone companies and try to find a better deal on your monthly services.

Price: Free

Available on: Android and iOS


Venmo


It is one of the best apps developed for splitting the cost of a bill with your friends. The service is similar to PayPal (which owns Venmo) but at the same time unique in its own way. It enables users to share and like payments through social media. Logically, the service is very popular with the millennial generation. 

This is how the app functions: if you want someone to pay you, you simply send them your personal QR code and they will then add you as a receiver. The transaction limit is $299.99 per week and for authorized merchant payments your limit is $2999.99 weekly.

Price: Free

Available on: Android and iOS

As you can see there are plenty of great apps in this space and it was really hard to choose 5 of the best. The key to succeed with money budgeting is to pick one or maybe more and stick to them. Learn how everything functions, apply it to your finances and reach desired goals.



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