Reality check: With so many options available in the market, determining the best money management apps that would fit your needs can sometimes be tricky and overwhelming. But fret not because, as long as you concentrate on what you want to attain and know your tech preferences, you will definitely find the right one.
Likewise, this blog will discuss the fundamentals of the best budget app and compile the top 10 money apps built to simplify your cash management and reach your financial goals. First on the list is a reliable cash flow software Moolamore that has the right mix of powerful features, functionality and security.
Ready? Let’s explore.
What are budgeting apps?
Budgeting applications are software applications you can deploy from your computer, tablet, or mobile phone to monitor your finances, such as income, savings, debt repayment, or investing. Budgeting apps typically synchronise with your finances to offer real-time updates as your financial situation changes. In addition, these apps may arrange spending history according to categories to investigate patterns, exposing individuals to their habits as time passes and helping users meet their budget/financial goals.
What features should I look for in a budgeting app?
When looking for a budgeting app, you should look for features such as its ability to sync your banking accounts, track spending, and help you categorise your expenditures over time. In addition, look for a budgeting app that offers automated savings options, suggestions to save money, bill payment alerts, access to credit scores, and investing tools.
What is the 50/30/20 budget rule?
This 50/30/20 standard practical guideline suggests spending 50% of your paycheck on necessities (like rent or a mortgage), 30% on fun things you want, and only 20% on valuable savings like an emergency or retirement fund and paying down outstanding loans.
Our Top Budgeting / Money Management App Picks
Moolamore is a digital cash flow projection tool that simplifies forecasting future income and expenses. In addition, Moolamore integrates with popular accounting software, making it easy to create accurate financial reports.
The app is free to download, and users can enter data quickly and easily. There is a 30-day free trial, and the user then transitions to a paid plan.
Moolamore offers several features that make it an essential tool for business owners and investors. For example, the app includes a spending tracker that helps users understand how their current spending compares to their projected expenditures in the future. Additionally, Moolamore provides detailed projections for both personal and business expenses. You can create scenarios for your future spending through this app. This information helps plan budgets and predict long-term outcomes.
Overall, Moolamore is an efficient and user-friendly cash flow projection tool that can help you make informed financial decisions. It is an excellent business and personal finance app for android and iOS users.
YNAB (You Need a Budget)
YNAB allows you to synchronise your bank accounts, import your account data from a file, or manually enter each transaction. Target the audience with the advantages related to the YNAB program, such as learning about the basics of the app through videos, a live workshop, or a text. In addition, YNAB offers half a budgeting approach instead of tracking what you have already spent, like other competing programs.
After signing up, you craft your first budget and select each money transaction, such as your rental or car payment. Your goal is to get at least one month’s gain in earnings, so you spend the cash you earned a few days ago. The company provides extensive educational resources and customer support to stay on track.
YNAB avoids data breaches by using bank-level encryption for all of its data, employing best practices for password security, incorporating third-party assessments, and a lot more.
Mint is among the most popular of numerous free budgeting apps offered out there. It is a superb choice for anyone looking to reconstruct their financial resources and improve management. The app is free, but you may see targeted advertising from financial product firms.
You can sync your financial records in the program or enter each transaction manually. Mint allows you to view your entire financial picture in one place and monitor your spending over time. The app automatically groups your expenses by category, allowing you to see totals at a glance.
Mint also offers bill payment tracking, allowing you to avoid late payment penalties. The app also provides cloud storage for investments and supplies information about valuation fees. In addition, Mint has several educational resources, including a home affordability calculator, a loan-to-value calculator, and a blog focusing on personal finance issues.
Mint’s mobile app utilises security scanning by Verisign, multifactor authentication, and touch ID for accessing your data. The login information saved by Mint is stored in another database with several layers of hardware and software encryption.
Simplifi by Quicken
To fully comprehend your financial resources, you must synchronise bank accounts. Once your bank accounts are synced, you’ll quickly have a complete understanding of your finances. In addition, the automatic expense tracker in the app will categorise your expenditures, monitor your subscriptions, and detect upcoming expenses.
One highlight of the application is the ability to create custom watch lists. These lists limit spending by payee or category and track cash flows. Further, the built-in spending plan mechanisms guarantee that you spend only what you should. Simplifi by Quicken has tutorials as you continue applying the app and a knowledge base bursting with educational materials.
You’ll need to link your bill paying, savings, and credit card account accounts to sign up. The app will ascertain what you are spending and where to save and will remind you when credit card bills are due.
PocketGuard’s “In My Pocket” feature uses an algorithm to derive spending limits from your income, upcoming bills, goals, recent spending, and budgets. The app can remind you when the next due date for your payments will be. In addition, it is possible to use PocketGuard to set up financial objectives and automatically move your saved money to a bank account without taking action.
Personal Capital is less thorough than other companies in its budgetary information, but it offers excellent investing tools. For example, you can use the Dashboard to see meaningful changes to your net worth over time, and Personal Capital’s Fee Analyser allows you to examine your portfolio fees further.
Personal Capital’s Retirement Planner and Education Planner tools can help you to plan for the future. In addition, personal Capital’s blog, Daily Capital, covers various personal finance topics for different skill levels.
The Zeta Money Manager software allows you to combine internet-based accounts or manually enter data to have a shared view of your finances. It can create budgets, track spending, set everyday purposes, and manage bills.
A few of the key features include peers being able to share finances, shared decision tools, bill reminders, and more. Zeta is a valuable tool for helping you meet your goals by creating solid connections between your financial goals and actions to aid your achievement.
Finding the right money management app or the best personal finance app is an essential step in improving your financial stability. That said, before you make a purchase, see to it that you know your needs and qualifications and understand the features and fees associated with them.
Usually, the best money management app is the one that’s simple to use, security-ensured, and includes the right mix of features and functionality that can help eliminate guesswork and complexity of financial management–like Moolamore listed as the top. So, consider this blog post, and you can rest assured that your money management system is working for you, not against you. Let Moolamore handle all the heavy work of cash flow management for you. Schedule a demo now and your business will thank you!