If your New Year’s resolution is to better manage your money, then we’ve found some great budgeting apps to help you save some pennies. Whether you want to treat yourself to a holiday, put something away for a rainy day or just think you need to get a better handle on your finances, then here’s our pick of the best budgeting apps to manage your finances this year.
OnTrees is a fantastic money management app from Money Supermarket. It allows you to easily and securely connect all your financial accounts to the app, so you can clearly see them in one place, and view your most recent transactions across your accounts.
The app has a great automatic system which categorises your spending into colourful charts and icons, e.g. travel; restaurant, pubs & bars; utilities; and more, so you can see exactly where all your money is going. You can also set budgets in the app, with the ability to track your progress towards that holiday to the Maldives.
Money Dashboard is a budgeting app that acts like a financial assistant in your pocket. Much like OnTrees, the app securely connects to and provides instant, read-only access to all your financial accounts, adding them to your own personal dashboard. Money Dashboard allows you to track your incomings and outgoings, keeping you up-to-date with your spending.
Using ‘colourgraphs’ it visually shows you where your money is going month-on-month, so you have a clearer view of how to spend and save more efficiently. The app also contains a budget planner that uses patterns to show you what is safe to spend each month, tells you what you will have leftover and allows you to set goals and savings targets.
CoinKeeper is a good old-fashioned budget app that is based loosely on an ‘envelope budget system’ by enabling you to have a number of ‘pots’ with which to drag your ‘coins’ into. Still with us? CoinKeeper also uses visuals to show you where your money is going, helping you to plan and save.
It also has a great Cloud feature, enabling you to access your CoinKeeper from several devices for yourself, or your family to stay in sync and on track. CoinTracker is run by you, so no need to connect it to your bank accounts. All you need to do is enter your bank balance, planned income and expenditure, with the option of setting daily reminders to do so, and then drag and drop ‘coins’ from your account to each category.
GoodBudget is a finance app that is an all-out ‘envelope budget system’, which means dividing your money into different envelopes or pots for different things. The first thing you do when you download this app is to set up your budget by customising your income and ‘envelopes’ to fit your life and create a budget that works for you.
‘Envelopes’ come as monthly, such as groceries and heating, and annual/irregular, e.g. savings. You can then digitally track your spending and manually manage your virtual envelopes for a bird’s eye view of your finances. GoodBudget also has a syncing option, so you can sync with other devices and people for joint budgets and easy access.
Wally is another self-managed budget planner app whose aim is to help you plan, manage and take control of your money through a 360 view of your finances. It is clean and easy-to-use and you can set monthly savings targets and with a great scanning feature, you can even scan and store pictures of receipts to digitally keep track of all your spending.
Wally is another app with a great expenditure categorising system, so you can see where and why you have spent money, culminating with colour-coded graphs so that you may review your spending behaviour and look to the future. Wally even sends you alerts when you have reached a savings target or when you need to pay your bills, so keeping track of your finances has never been easier.