Unless you are rolling in the money like Donald Trump or Oprah Winfrey, managing your income and expenses is vital to avoid needless debt and to save for the future. The most valuable tool anyone can use to manage money is a budget. Budgets might not be very interesting, but the money you can save can be very exciting. Before you make excuses that budgeting is too complicated or you do not have time to track your expenses, look at the following seven apps that can make budgeting on the fly easier and more useful than ever.
If you are looking for a budgeting app that is easy to use and packed with features, look no further than iReconcile. Whether you need help balancing your checkbook or setting up a monthly budget, you can keep your financial life in order in just a few keystrokes. For those needing to micro manage their finances, this app allows you to set your budget on a monthly, weekly, or even daily basis.
Unlike many other budgeting apps, Expenditure is one of the few that allows you to include pictures or notes with each entered transaction. So, if you don’t want to save a box full of receipts, then you can simply snap a picture with your iPhone camera and save it with the transaction you have entered. How much simpler and more streamlined can you get?
While most budgeting applications can help you keep track of your accounts and expenses, very few offer you the ability to keep your financial information safe and secure. MoneyBook offers the same great range of budgeting features that many apps offer, but also includes the option to password protect your most sensitive financial data as well as use a cloud service to back up your budgeting records in case your iPhone is stolen or lost.
For those of you that require budgeting apps that offer security as well as financial planning tools, Toshl provides an option to sync your data to a cloud service. By being able to store your data, you will never lose a single transaction, which enables you to keep expense records for years, even if you switch phones. Plus, they just have a fun attitude that makes it all feel a lot less like work.
Mint has a long history and well-deserved reputation as a leading online budgeting tool. Their app for iPhone offers the same ease of use and variety of features you would expect of a leader in the industry with the convenience and portability of using your iPhone for access. Besides the fact that it offers an array of options for managing your finances, it’s also free. You can’t get better than that.
For those who are new to expense tracking or even budgeting in general, this app offers an easy to use interface that makes it simple to record your transactions, even if there is no internet connection available. Despite being a simple app, Spend offers the right variety of features perfect for the budget beginner.
Once you have your budget planned out on paper, the only way to make the budget work for you is to implement it. This simple and direct app makes it easy to track expenses and categorize to see how much money you are spending, where you are spending your money, and how does the expense fit into your budget. In addition to budget tracking, Cha-Ching offers a range of additional tools, such as a photo log of your items for insurance purposes, which make it well worth downloading.
Budgeting doesn’t have to cause a headache, and it doesn’t need to be overly complicated. Whether you have a lot of money or a little money, creating and using a budget can net big savings and open up more opportunities. Using the right tools like these iPhone apps can keep you on target to achieving your financial goals.
Jessica Bosari is a freelance writer and blogger for various publications and her own blog. You can read more of Jessica's work here. If you have any comments or questions about SavingTools or about saving money, leave your comments in the form below or email firstname.lastname@example.org. Thanks!