Staying within a budget can be difficult. It’s so easy to swipe that credit card and simply think that you will “pay it off later”. These purchases start to add up and you may find a large credit card bill in your mailbox at the end of the month. Getting yourself into debt can be extremely stressful. Fortunately, there are ways to ensure you don’t overspend, such as downloading an app that allows you to track your spending.
Apps are great for many different reasons. There are apps to help you stay in contact with your friends and family, apps to increase productivity, and apps to help you stay healthy. A category of apps that gets overlooked far too often are financial apps. Check out the list below of the top free apps that will help you track your spending and live a financially stable life.
This app is similar to the old-fashioned method of envelope budgeting. Define categories such as eating out, gas, groceries, and rent and set a budget for each item. You can then track how much you are spending in each category. When the money runs out in that section, you have to stop spending on those items, or transfer from another area. This is a great way to see what items you are overspending on each month, and learn to create a more balanced budget.
The level money app helps you plan ahead and understand how much “spendable” money you have available. You insert your income, rent, bills, and savings goal. Then, the app shows you how much money you have available to spend each day, week, and month. Instead of seeing the sum of money in your bank account, you are actually able to see the dollar amount available to you for non-essentials.
The unsplurge app is changing the way people save money. Unsplurge allows you to set a financial goal and save towards that goal. Once you’ve set your goal (maybe it’s a big vacation or an expensive piece of clothing) you can give yourself credit each time you say “no” to an impulse buy. Instead of splurging on something you probably won’t use or enjoy, you are putting a little bit towards your goal. The savings will add up until you reach your goal and you can enjoy something you actually want. Then, you can share your success with the Unsplurge community.
This app stands out from other financial apps because it is more interactive and personal. The Penny app provides you with a personal finance coach by the name of Penny. She will send you text messages to alert you about anything associated with your finances. For instance, Penny might let you know that your paycheck has arrived or that you have a payment due. She also compiles the money you’ve spent across all of your accounts into four simple categories and provides you with up-to-date info on your monthly budget.
Each of these apps help you to reduce unnecessary spending in unique ways. You can reach your financial goals by downloading one or all of these apps. Avoid the stress of large bills and save towards the things your heart desires.