Sorting out your finances might sound like a difficult and time-consuming task- but it doesn’t have to be. These days there are thousands of money management apps and tools available, all claiming to help you stay on top of your finances. Weeding through them to find the best one for you is a time-consuming task. In this article, we’ve done the hard work for you and found the best budget apps and budgeting tools for everyone, no matter who you are. Better yet they are almost all free* and available on both Android and iOS. *some may have upgrade options that do cost money
The one for Aussies: Money Brilliant
Money Brilliant is an free Australian based website and app. I personally use this to track my upcoming bills, my spending and savings goals. It also has the ability to create monthly budgets and track your net worth and insurances.
With access both on your computer and on the app you can see everything at a glance. Money Brilliant also send you alerts if it thinks you’ve missed a bill or if your account balance is low. You can customise these alerts. There is also a paid upgrade version that gives you extra features.
The one for Americans: EveryDollar
EveryDollar is an American based website (owned by Dave Ramsay) and app that I’ve heard is quite popular. It allows you to create zero based budgets and track spending against the budget. The free version doesn’t allow you to connect your banking but the paid version does.
The one for those who want manual input: Mint
Mint is another American based website and app that easily allows you to view transactions, create budgets and track spending. It connects to almost every US financial institution available. Mint also provides credit score access and allows manual inputting for those who don’t want to connect to their bank.
The one for those who don’t mind paying: YNAB
YNAB –short for ‘You Need a Budget’ is another popular American budgeting resource. YNAB isn’t free, but has a 34 day trial period and a low cost of only $6.99 a month *billed annually. It links with your banking to provide an overview of spending, categorisation and reporting.
The one for absolutely anyone: Pocketsmith
Pocketsmith saves you the hassle by importing your transactions and automatically categorising them for you. You can also add specific notes or labels to an individual transaction so that it makes more sense to you. Pocketsmith also integrates with Xero accounting software. Keep track of your bills with a bills calendar and create flexible budgets by a time period that suits you (daily, weekly, monthly etc). Pocketsmith really has it all covered.
The one for the time poor: Pocketbook
If finances really aren’t your thing and you’re after something super simple then Pocketbook is the app for you. Pocketbook syncs with your bank accounts, credit cards and loans and auto categorises your transactions. It also has a “safely spend” feature that lets you know how much you can spend based on your budget.
The one for couples: Goodbudget
Goodbuget is fantastic for couples as you can create one budget that syncs between multiple devices. Goodbudget uses the envelope system which helps to separate out expenses into categories. Together you can also set combined goals so that you can focus on what’s important to you as a couple.
The one for friends, family and housemates: Splitwise
Perfect for share houses or groups of friends, Splitwise allows you to figure out each person’s share of a bill or avoid that awkward conversation at the end of a meal. Splitwise can send auto-reminder emails for future bills so that no one forgets to pay their share of the rent. It even allows you to write and keep track of IOUs. For restaurant specific calculations the sister app Plates by Splitwise is perfect for up to 10-way splits.
The one for your taxes: Expensify
Expensify can help you keep track of your receipts and expenses so that once tax time comes you aren’t chasing them up, searching emails or trying to make sense of a faded receipt. Expensify allows you to scan and categorise the receipts in a variety of ways. Come tax time you can collate everything into one file that’s ready to send to your accountant.
The one for investors: Sharesight
Sharesight is the best portfolio management tool for DIY investors. With Sharesight you can add up to 10 holdings automatically from your trading platform. Sharesight shows you graphs of your returns in terms of percentage and capital gain, tracks your dividends including those that are re-invested and provides reporting tools to use for for your tax return.
There’s also an upgrade option to provide you with more access to reporting tools, xero intergration, CGT reports and benchmarking.
There you have it, no matter what your situation you’ll find a budgeting tool that will make your finances easier to manage and have you on your way to a positive financial future.