Personal finance apps to help budget your spending

Many single mothers use their smartphones every day for all sorts of things. From checking emails to browsing social media to grocery shopping online, there are plenty of tasks to juggle on the go.

However, you may not realise that there are a wealth of apps that you can leverage to help keep your family finances in check too.

There are a range of budgeting apps out there that can track your income and expenses and help you to stay within your budget. Although budgeting may seem like another time-consuming chore, apps have made this task much easier and less stressful. Your financial health can now be controlled literally from the palm of your hand, so why not make the most of it?

Here are four intuitive and easy-to-use budgeting apps that you should download right now.

APPS TO HELP YOU BUDGET

Pocketbook

If you’re looking for an app that will give you a real-time overview of all your finances, then Pocketbook is for you. This app automatically syncs your bank accounts, credit cards and loans to allow you to keep track of every cent that moves in and out of your accounts.

Pocketbook can sort your purchases into categories, so that you can see which areas you might be spending too much in. You can also set a “safe spending limit”, which is your maximum daily or weekly spending amount. If you’re not sure what this amount should be, then the app will calculate it for you! The app even helps you avoid the sting of paying late fees for overdue bills by sending you an alert when your bills are due.

Lady on finance app

Mint

Mint is another app that syncs your accounts, allowing you to monitor your expenditure. You also have the option of manually inputting any cash transactions that you make. This means that jar of loose coins that you use to buy your morning coffee (which can cost you quite a lot over a year) is also factored into your overall budget.

The app’s easy-to-use interface allows you to see which categories you are spending the most in and presents these in neat charts and graphs for you to digest. Mint even allows you to pay your bills through the app and lets you set savings goals. The biggest feature of Mint is its customised financial tips, based on your spending habits, which can help you overcome poor money habits.

PocketGuard

PocketGuard helps you determine whether you can afford to make certain purchases or not. The app syncs all of your bank accounts and requires you to identify all recurring bills and expenses. This information helps the app predict your ability to make future purchases.

We’ve all felt that moment of panic when your kids have filled the trolley with things that you’re not sure you can afford. PocketGuard tells you how much spending room you have in your pocket so that you have more confidence at the checkout.

Mvelopes

If you’re a little old school and you like the idea of putting money aside into different envelopes for your groceries or even your energy bills, then give Mvelopes a try. This app translates this cash budgeting process into app form. Mvelopes joins your bank accounts together and groups your spending into different labelled envelopes. You then set limits on your spending for each category.

There’s no reason why you should spend hours at night trying to set up a budget for yourself. Using these apps, you can set up a personal and customised budget in minutes, simply using your smartphone. This means that you can spend less time worrying about money and more quality time with your little ones!

Personal finance apps

Bessie Hassan

Bessie Hassan

Article written by Bessie Hassan, Money Expert at finder.com.au.

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