The days when balancing a budget required tedious spreadsheets and hours of work are long gone. With the help of technology, you can now manage your budget in just minutes on your smartphone or tablet. There’s no shortage of budgeting apps to choose from for both Android and iOS devices. Here we take a look at three of the best known ones – Mint, You Need A Budget (YNAB), and Level Money.
Mint
Mint has been around since 2007 and is now owned by Intuit. It’s free to use, but you can also check out other useful features on their website at [See also: 8 Cool Mint Tools]. Mint requires setup through the computer initially; you connect your bank, credit, and investment accounts there. Mint gives you a three-month comprehensive view of your spending and sorts it into categories, suggesting a budget for you. You can tweak this to better suit your needs.
Mint offers advice on where to save or improve your budget (though these ads help pay for the service). The mobile app, which won Best Finance App in the 1st Annual App Awards and TIME Magazine’s 50 Best iPhone Apps of 2011, allows you to view finances in real-time, make changes to information, and monitor spending from your smartphone. It’s password protected, so if your phone gets lost or stolen, you can feel comfortable that no one will access your financial data.
You Need A Budget (YNAB)
You Need A Budget (YNAB) is a popular option for those who prefer envelope budgeting. It downloads transactions, facilitates envelope sweeps and planned spending, and is available across platforms, including web-based access. The price may be off-putting to some as it’s not free, but many swear by its effectiveness.
Level Money
Level Money is perfect for those struggling to pay off debt or save for the future, as it simplifies financial tracking and provides an easy-to-understand visual representation of your cash flow. The app doesn’t allow transactions directly through it, but it’s a great tool to keep on top of your finances.
There are other budgeting apps available that may also work for you. It’s essential to pick the one that best suits your needs and lifestyle. Keep in mind that while these tools can make budgeting easier, improving your financial situation ultimately comes down to responsible money management and earning more if needed.
Reviews
I recently examined the review of Mint and other money management tools. The reviewer noted that while they find MoneyWiz more compatible with their international needs due to cloud syncing and cross-platform availability, they appreciate Mint’s automated expense tracking. However, for them personally, HelloWallet is superior in functionality compared to Mint. Despite the convenience of apps like Mint, which simplified budgeting from a cumbersome Excel spreadsheet routine, some users may prefer traditional methods or find different apps better suited to their needs.
P.S. Keeping an eye and planning your expenses is always a smart move, but it’s better to earn more so you don’t have to bother
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