Regardless of how much money you have, keeping track of your spending is a necessary evil. Creating a budget is one thing, but actually sticking to it is another. It’s especially hard to keep spending under control during the holiday season, but that doesn’t mean you can’t do it. There’s an app for everything these days, and why not? You pretty much always have your phone within arm’s reach, so it’s the perfect place to organize important information— like your finances. Here are 5 great budgeting apps that will make keeping track of your money a lot more engaging that yet another spreadsheet.
Tracking your spending in an organized way is essential if you want a budget to stick. That’s where Intuit’s Mint for Canada app comes in. With it, you can see all your bank accounts in one place, set up budgets and keep an eye on where your money is going. After you link your accounts to the app, it will start automatically updating your information every night and categorizing transactions for you. That way you know if you’re over spending in a certain area—like dining out—and where you have a little wiggle room. It will also help you set up a budget and suggest ways to save based on your unique spending habits.
The app supports all major Canadian banks including Scotiabank, TD, RBC, Tangerine and more and is available in the iPhone and Android app stores.
If you run your own business or do any freelancing on the side, you know there are a lot of expenses you can claim come income tax time. It’s also smart to keep your receipts for big purchases and to help track regular spending on things like groceries. Luckily, there are better options than the old shoe box under the bed method. With the Smart Receipts app, you can create your own expense reports and attach photos of receipts so everything stays organized and in one place.
The app is currently available on the Google Play app store and the Apple app store.
If you’ve already dug yourself a bit of a hole when it comes to debt, Debts Break Pro uses the snowball method to help you get the repayment process on track. All you have to do is input the basic information for each one of your debts: balance, interest rate, starting date and minimum payment. Then you can decide on a total monthly payment and choose one of five strategies: highest interest rate first, lowest balance first, highest balance first, earliest payment date first or custom order. When you make your monthly payment, the app will split the money among your debts and let you know how much interest you’re saving with your current plan.
The best thing about the app is it’s easy to use and takes the guess work out of deciding which debt to pay off first. It’s only available for iPhone’s right now and costs $2.79.
Monthly bills can be had to keep track of and budget for, especially when they’re all coming in at different times and aren’t always the exact same number. It’s in your best interest to pay your bills on time because you don’t want to damage your credit score with late payments. Chronicle will remind you of an upcoming bill due date and help you pay it online. It also keeps proof of payments such as confirmation numbers and scanned or downloaded receipts, and tracks your payment history in a handy graph so you can be better prepared for fluctuating bills.
You can also sync it with Dropbox and iCloud so you’re able to access your information from any device. It’s currently available in the Apple app store and costs $6.99.
Personal finances don’t have to be stressful and dull. PocketGuard keeps track of all your financial accounts, taking into consideration your income, recurring expenses and bills to calculate how much you can safely spend and still reach your financial goals. Your spending will be categorized and displayed in easy to understand graphs so you never have to interpret confusing and nondescript charges. Not only will it send you reminders about upcoming due dates, but it will organize recurring charges so you never forget about subscriptions or recurring bills.
Best of all, it’s completely free for both Apple and Android devices!
Did we forget to mention your favourite budgeting app? Let us know why it’s the best in the comments.