Society & Lifestyle

5 apps for personal budgeting

These apps will help you to stick to your budget in 2020


5 apps for personal budgeting. Source:

If your income decreased due to the pandemic, or your salary just disappears in no time leaving you wondering where you have spent all your money, it’s time to get your expenses under control. These 5 helpful apps will assist you in managing your family and individual finances.

Top 5 apps to help you manage your budget

   1. Spendee

Spendee uses vivid infographics to show users the balance between their income and expenses. It is easy to navigate and has multiple currency options. It is convenient to subdivide your budget into different categories (bills, groceries, clothing, medical expenses etc.).

The app securely connects to your bank accounts if you wish to automate your income and expenses. You can also add your expenses manually within a few seconds.

At the end of each month, your total spending is categorized so that you can analyze the biggest item of your expenses. Spendee also has a bill tracker to remind you of monthly payments.

If you wish to save money for a special purchase or occasion, you can add a budget goal. Tracking your savings is as easy as monitoring expenses.

Finally, Spendee is a multi-user platform. You can share your virtual wallet with an unlimited number of family members, friends, co-workers, roommates etc. It can help you manage your household spending, plan the common budget for parties and events, organise group trips etc.

   2. YNAB – You Need A Budget

This app has a free trial period and offers amazing improvements in your saving habits.

It can be synchronized with multiple bank accounts. The user has real-time access to all their data, as well as 24/7 personal support available via live chat and emails.

In addition to traditional goal tracking and expenses records, the app has an educational touch to it. It offers information and tools which could help get out of debt. Support staff conduct free weekly workshops on saving & spending wisely.

The YNAB approach is giving each dollar a job in your budget. Money is presented as living creatures that need care, growth, and wise investments. It promotes financial responsibility by “ageing your money” principle. The goal is to increase the time between earning and spending each dollar, breaking the paycheque to paycheque cycle.

The app helps to embrace your true expenses by dividing big purchases and payments into small amounts. It helps you financially prepare for the holidays, trips, car repairs, regular medical examinations, insurance or interest payments etc.

YNAB also makes budget goals very flexible. They can be easily adjusted as your life changes.

   3. PocketGuard

It can manage multiple bank accounts; synchronize all loans, savings and investment data. PocketGuard provides you with a clear picture of the money left “in your pocket” after the monthly payments, savings, and investments.

Your transactions are updated and categorized with the help of pie charts and personal messages. The app personalizes your spending limits automatically based on monthly income and bills.

In addition, PocketGuard helps its users save more money by analyzing their bills and expenses. It suggests cheaper alternative services such as lower fee deals or high-interest savings accounts.

The app promotes healthy spending habits by offering a comparison of your expenses month by month. You also receive timely notifications when a balance is low, as well as giving encouraging messages when you manage your budget wisely.

   4. Wallet

A simple budget planning app available for multiple devices and in various currencies. It supports many local banks so you can link most of your debit and credit cards instead of entering the data manually.

Wallet has a simple interface and allows you to rate your own spending in retrospect. You can check all your purchases and decide if they were worth the price. The diagram can show your individual weekly statistics. It illustrates which percentage of your expenses was actually useful, necessary, and enjoyable.

The app helps you plan your budget on both short-term and long-term scales. It also allows shared budget access to your family and friends.

Your data is additionally secured with a pin-code. It can be automatically synchronized via the cloud or exported to CSV/XLS/PDF files.

   5. Monefy

Monefy is a digital alternative to the manual expenses list. The user only has to add the sum they have spent into one of the main categories. The app then takes care of analyzing expenses over the chosen period (day, week, month, or year).

This is a good choice for those suspicious users who don’t want their accounts to be connected to any apps. At the same time, it does not divide the available budget into cash/card/savings amounts as many users would wish.

The attraction of Monefy is its intuitive simplicity and beautiful infographics. It also supports many currencies. The multiple currencies mode is very convenient. You don’t have to calculate your savings according to any exchange rates, just add a new account in foreign currency.

The synchronization is done via Google Drive or Dropbox accounts. The data can be exported and protected by a password.


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