It doesn’t matter how much you earn and spend on a specific period, you should always keep track of where your money is going and why. You might find it difficult to monitor all your activities since there are so many and that’s where the expense tracking apps come into play. These apps can look over your financial records like an account and help you fulfill your budget goals. There are a lot of expense tracking apps that offer tons of exciting features. You can take a look at the list below and see if any one of them can attain your needs.
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Best Expense Tracking Apps of 2020
If you’re a new user of these kinds of apps and would like to learn how to track your expenses, Monny can be just what you need. The app has a very simple design that anyone can understand with a comprehensive main page. You can find everything you need to track your expenses in different tabs for better access. You can categorize your expenses to get a clear view of where your money is going.
Mvelopes is designed around the traditional idea of putting all your money in different envelopes to spend in different fields. Whereas most budgeting apps focus on where all your money went, Mvelopes will show you budget forecasts to keep you from overspending in your next expenditure. With Mvelopes, you can cover your necessary expenses and get into the habit of saving.
8. You Need A Budget (YNAB)
One of the most popular expense tracking apps is YNAB (You Need A Budget). After your bank information is connected to the app, it will make sure that not a single penny of yours is put to waste. At the start of each month, the app will calculate your earnings to divide them into separate spending sections (bills, debts, investments, savings, etc.).
You can choose to sync your bank account with the app. Sit can automatically update your financial information or you can manually input them yourself.
You can use Expensify for keeping track of your personal finances as well as your business ones. By signing up for free, you can use the SmartScan feature to scan up to 10 of your receipts in a month (once you get a paid plan, you can scan unlimited receipts).
The app will automatically store the information it will get from scanning the receipts so you won’t need to manually type in anything. Once your accounts are connected, you can easily import all your financial information and the app will monitor your earnings and spending.
Among the many expense tracking apps, Monefy is an elegant one with an easy user interface. It’s simple and quick in its management. You can try the free version to get started and let the app scan your expenses to show you in a color-coded chart for easy understanding. You also have a built-in calculator, password protection and different widgets to help you arrange the app better.
The app supports various currencies so you won’t have to worry about any international dealings. You can connect any of your cloud service accounts with Monefy to import and export your bills and receipts.
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5. Personal Capital
Once you link the app to your bank account, it can take over your financial management in an instant. It will track all your incomes and spending to divide your spending into separate categories to give you a visual representation of where you spend your money.
Once you decide to become sensible, you can plan your budget with the help of this app and keep track of your investment options. You can depict your future savings plans depending on your present financial state.
If you want to keep your spending habits in check, Wallet might be what you need. You can connect your bank accounts with the app so it can sync with your balance and monitor your expenses. You can create shopping lists as well and use different templates to categorize your balance properly.
Also, you can share your account with your partner, other family members, or finance manager if you’re using a shared balance. You can sync your account with the cloud service so it can be accessed from any device anywhere.
Spendee is an easy to use all-in-1 expense tracking app suitable for any kind of user. You can either create an account to keep your data backed up or you can choose to use the app as an unregistered user. You can see your spending on a weekly, monthly, or yearly report in a format of your choice (bar or pie chart).
Moreover, you can also click pictures of your receipts to attach to your expenses so you won’t need to keep physical copies with you. You also have the sharing option to share your account details with others.
2. Clarity Money
After you link the app with your bank accounts, it can track your financial information to give you a visual presentation of your earnings and spending with a pie chart. You can easily focus on areas where you need to cut your expenses to meet your budget goals. The app will make sure that your financial goals are met by constantly showing you options to improve your spending habits.
If you have too many subscriptions linked with your account, Clarity Money will highlight the ones you use or need the least so you can cut them off and avoid any extra money being spent.
With the help of Wally and its features, you will surely get your spending habits in check. Wally will make a report on your expenses and provide you feedback so you know in which areas you need to focus on more. You can also share your account with your family members or accountant if you want with its social sharing feature.
The interface is very simple and lets the user easily organize their expenses as they keep engaging them. You can put in the time and location of each of your expenses with a few clicks. Wally can be the perfect helping hand to push you into fulfilling your budget goals.
A good expense tracking app can easily replace the need for an accountant by keeping your financial records in check and constantly providing you with tips on how to improve your spending habits. Install one of the apps now and start building up the habit of better money management.
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