Struggling with how to manage your money? These are the 5 best budgeting tools you need if you think you’re bad with money. These four budgeting apps (and one budgeting binder) will make it simple to get your money organized, pay off debt, save money, and more!
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The Best Tools for Budgeting
Apps make difficult things more fun.
I used a contraction timer app while I was in labor with Miss O.
I would tap the button at the beginning and then the end of a contraction so I could see how things were playing out.
Did this make the contractions feel better?
Actually it did, a little bit (don’t get me wrong, they were still brutal). But the contraction app did make the process more manageable by giving me something to focus on. The app helped.
Budgeting tools and apps can help in a similar way.
Do you find budgeting brutal?
These 5 best budgeting tools will help make budgeting MUCH easier – and even painless.
And if you want to teach your kids how to budget (it’s not too early to start!) check out this post on budgeting for kids for tips!
Related reading: How to eliminate credit card debt while still enjoying your life
Best Budgeting Tools: Apps to Manage Your Money
There are plenty of mobile apps out there for just about anything. But which ones could help you save money (check out these strategies to spend less money)? And how do they work? Also, how do you choose the best app to manage your budget? Apps for managing your budget are designed to make it easier to manage your money daily. This article shows you the best apps to manage your budget.
>>> Also don’t miss these 15 best budgeting books you NEED to read – they are truly life-changing >>>
These budgeting tools will help you stay in control of your financial goals. Budgeting apps can quickly simplify your life and help you save money. They show you a holistic view of income and expenses while encouraging you to keep your savings goals.
Each of these best budgeting tools will have slightly different services to differentiate itself from the competition. Try out these budgeting apps to see which one is the best fit for you. The best fit will be the one that gives you the functionality you need, and that you like using – this is key!! Because if you don’t enjoy using a budgeting app, you’re going to stop using it, and then that won’t exactly be helping you manage your budget. So use one you like.
Okay here we go with the best budgeting tools!
This budgeting app is perfect for following your budget easily. Money Manager Expense & Budget is a popular budget manager app for iPhone and Android. Once all your income and expenses have been entered in the application, it generates various daily, weekly and monthly reports so you can easily follow your transactions.
You can also create charts to control your expenses and spending and help stick to your budget. This helps you see, at a glance, when you swerve away from your savings goals, so you can turn the tide by changing your spending habits.
The Money Manager budgeting tool also allows you to categorize your expenses. You can extract your data into an Excel table if you want to see the numbers in detail.
It is SO helpful to know your day-to-day expenses. One of the best features of the Daily Budget Original budgeting app is its playfulness, which at the same time helps you better understand your financial situation.
With this best budgeting tool, you enter information manually. The app then allows you to calculate and categorize your spending and set your savings goals. While it takes a little longer to enter your income and expenses manually, some people prefer the control of this type of budgeting tool. There is no data sharing and no connecting to a bank.
This is an easy budgeting app to use, and this is one of its strengths. The reminder function is super helpful; it tells you how much you need to save that day according to your budget. This is what sets it apart from its competition, which usually tells you how much to spend monthly, rather than day-to-day.
Wally is a minimalist budgeting tool to manage your budget. The Wally app helps you manage your budget without worrying about all the extra options that other apps offer. Launched in 2013 and developed in 18 languages, Wally gives you a clear overview of your monthly spending, in a no-fuss, simple way.
Wally extracts your data directly from your linked bank account to provide you with real-time budgets. This means with this budgeting app, you don’t need to enter your income and expenses manually: Wally does it for you. This type of budgeting tool will absolutely save time over the budgeting apps where you have to manually enter your financial information.
With the Wally app, you can also include photos of your receipts, which is excellent for tracking your expenses. This is helpful for anyone, and especially if you are a freelancer.
You might want to also check out 5 important money habits you need to have good finances. These are things we should all be doing (but many of us aren’t!)
A super easy way to keep track of your money is using Personal Capital. It tracks income, expenses, debt, investments, and gives regular reports to make it easy to know how your finances are doing. At the end of the year Personal Capital gives in-depth reports as well so can see how you did compared to the year before.
This budgeting app includes a savings tracker. You can set it up to save for an emergency fund, your retirement, a down payment on a house, or other important things you want to save for. It keeps track of your bills too, and gives you reminders to pay on time so you won’t get late fees.
Personal Capital will also track your net worth, whether you are in positive or negative territory. It’s incredibly motivating to track your net worth and watch it grow. If you have debt, it’s also very satisfying to watch that negative number get smaller as you pay off debt.
If you want personalized wealth management, Personal Capital offers that for low fees. But there is so much functionality with Personal Capital’s free budgeting tools. Get it for free here.
And One Low-Tech Best Budgeting Tool
Not everyone is into budgeting apps and tech budgeting tools for tracking money. You might be a pen-and-paper kinda person, prefer your daily planner to be non-electronic, and are more comfortable with tangible and low-tech financial tracking.
For you, I created a beautiful Minimalist Budget Binder that has everything you need in a budgeting tool and no fluff to distract you. It is simple to use, and has a monthly expense tracker, 30-day frugal living challenge, 52-week savings challenge, 30-day savings challenge, a debt payoff thermometer, an emergency fund tracker, financial goals worksheet, monthly budget worksheet, vacation savings tracker, and a Christmas budget worksheet.
Flip through the Minimalist Budget Binder to see all the worksheets you get:
If the best budgeting tool for you is low-tech, grab the Minimalist Budget Binder here >>
>> If you are struggling financially, read this for 15 tips from people who are never broke >>