Summer is a time of hedonistic pleasure seeking, but that doesn’t bode well for our savings plan. The long days and good weather make us want to spend more time out and about, whether on vacation, at music festivals, or bar hopping. Whatever your preferred form of entertainment is, one thing's for sure: your pocket will feel the pain.
Then September comes, and all of a sudden, we realize that the end of the year is approaching fast, and we’re going to have to come up with some sort of last minute plan to reach our yearly savings goal.
But hold up, don’t get your panties in a wad just yet. There are still four months of the year left! That’s plenty of time to get back on track, given the right attitude and the tools to help you reach your goal.
These five personal finance management apps are bound to give you the extra push you need.
Simple - Better Banking can do a lot for your personal finances. Connect it to your bank account(s) and you'll get push notifications every time you make a purchase or receive an income. That way you can know the state of your accounts on the spot.
But there's more. Simple learns from your money movements and provides you with a detailed report on you expenditure. In addition, you can set saving goals, and the app will help you achieve them by pushing alerts when you are spending way too much. Finally, you can even set budgets, make transfers and pay bills right from the app.
The concept that Spendee has come up with here is unique. You don’t have to link your bank accounts to the app, but instead make as many wallets and budgets that you need (for food, clothes, going out, etc.). Then just assign an amount and start adding your income and expenditure in each of the categories.
Adding new expenses is really quick and easy thanks to its simple, practical design based on Material Design. There are also a load of extra features, like synchronization, the option to share budgets and wallets with other users, and other tools for analyzing your finances. One feature which really makes Spendee stand out is the graphic representation and reporting option.
If Spendee hasn’t won you over, you can always try Money Lover. It’s really similar in terms of features and design (which is Material Design), but it also has some differences. For example, with Money Lover you can also manage events (such as trips, weddings, christenings, etc.), track your savings and manage debts (which you owe or are owed to you), as well as setting up your budgets and adding your expenses.
It also shows you a graph of your spending trends, saves your recurring transactions and lets you manage your bills.
These types of personal finance apps all have a similar issue: adding each and every entry can become a bit repetitive and annoying. But you have to do it in order to be able to track and analyze your progress effectively. All these apps try to make this process as simple as possible, but none do it quite as well as Monefy.
Monefy has stripped away the excess baggage. It has gotten rid of some features so that it’s just got the basics (add wallets and enter income and expenditure for each category), but they’ve done it in such a simple way that it would be hard not to do it every day.
The home screen shows you your main expense categories. You just have to tap on one of them and add the amount spent. And that’s it! Monefy will work out the percentage of the budget automatically and display it in the middle of the graph. From this same screen you can amend your different budgets too.
If what you’re looking for is a very graphic app with a really simple way to add expenses, but with a few more features than Monefy, then a good alternative would be CoinKeeper.
CoinKeeper lets you set up your budgets, add income and expenditure, check the progress of your finances with detailed statistics and get alerts about your recurring payments. CoinKeeper also allows you to synchronize all your information in the cloud and export it as a .csv file.
One of the best things about this app is the way in which you add your expenses. Each category is represented by a coin, and you just have to drag one of your wallets to a category and tap in the amount; CoinKeeper will do the rest.