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If you really want to get ahead with your finances, you need to know where your money is going. That’s where tracking comes in. Experts agree that recording your expenses is the single most important element of your entire financial management plan. However, tracking every penny is — at best — tedious. At worst, it is completely overwhelming.
Fortunately, your mobile devices offer solutions that are completely painless. In fact, you might even have some fun. These three apps automate most of the tracking process, making it fast and easy to stay on top of your cash:
The PocketGuard app is available for both Android and iOS, and it does much more than track your spending. Simply link your accounts to the app, and all of your information is organized and displayed on a user-friendly dashboard. The software categorizes your spending real-time, so you always have up-to-the-minute data on where your money is going. This gives you an opportunity to make better spending decisions in the moment, so you won’t suffer from buyer’s remorse later. Best of all, the app automatically analyzes the money coming in and the money going out to create a workable budget that is customized for your individual needs.
This app, available for both Android and iOS, offers all of the features you expect from a financial management tool. It tracks spending, supports budget creation, and monitors your income. However, there is a special benefit that makes it worth every penny of the $4.99 price tag – coordination between family members. The family sharing feature syncs spending from multiple devices, so there are no unpleasant surprises when you check your bank accounts.
The Wally app is a marvelous tool in your battle to get your finances in check, because it offers a special feature that most other expense management apps do not. This app tracks your spending automatically, just as other apps do. In addition, it also records details such as where, when, and with whom you make purchases. This data is transformed into user-friendly infographics, so you can clearly see where your money goes – and which of your friends know how to have fun for less.
Tracking your spending is a critical component of your financial management plans. You simply can’t get a handle on your money until you know where it is going. However, there is no need to waste your time on tedious note-taking. Automate the dull parts, so you can focus on making smart decisions.