Managing financial expenditures can be tedious and overwhelming, especially when expenses rush in constantly and battling inflation.
Luckily, many tools are available that can ease your burden and help you allocate funds, categorize expenses, track your spending habits, and ultimately help you spend less and save more. Here are ten apps an online budgeting community volunteered as the best.
1. Rocket Money
Formerly known as Truebill, Rocket Money is an excellent budgeting tool for understanding your financial blueprint and tracking every penny spent. One revealed his preference for the app as it fulfills his budgeting needs. Another user, who could be more knowledgeable about the app, asserted that it'd gotten a lot of positive ratings from people he knows who uses it.
2. You Need a Budget (YNAB)
YNAB is a highly-regarded budget planner with features that allow for multiple budgets, can be synced with various devices and does justice to creating spending goals and tracking your expenses. Many clearly stated their preference for YNAB over other budgeting tools. However, one user agreed to its benefits but wasn't happy that they needed to pay some extra bucks to enjoy them.
This tool must render a budgeting service worth its hype, as many suggested, “You might like CoPilot” to a user who needed a savings tool to achieve savings goals that could also be linked up with bank accounts that also provided an expenditure report. Allocation of funds should be exemplary with CoPilot by your side.
4. Home Bank
Designed for easy use and an impressive graphical savings and spending report, this tool offers exceptional financial management features to its users. An individual listed it as one of the open-source apps that don't require a subscription.
“Buddy is an app where you can put in all of your expenses, create a budget, and add your transactions to track your spending,” a contributor on the thread explained. However, it requires some dough for a subscription before you can best enjoy it.
6. Wealth Position
This tool must be doing wonders when managing your income and expenses, as one user credited it for its worthy features that also provide future forecasts. It is an excellent tool for someone who aims to be financially independent.
“Banktivity all the way,” a proud tool user raved on the thread. No offense to Android users, but this particular tool was not made for their use. The subscription-based financial manager is known for its robust, user-friendly tools for tracing financial expenditures. However, it is only available for MacOS and iOS users.
8. Greg's Budget
Gregsbudget is one financial administration tool that eases the burden of budgeting. It acts as an electronic checkbook and gives you profound insights into your spending. Greg's Budget is his choice for one user on the thread because its features are 100% free.
9. Money Manager
Money Manager helps individuals, clubs, and even small businesses keep detailed records of their financial plans. It's easy to use and offers impressive features for users to plan out every penny they spend. One user excitedly commented about the “no subscription” feature, which permits free usage of all their features.
Microsoft Excel is beneficial in many ways, including as a budgeting spreadsheet. It'd help you track spending and dish out spending habit records as long as you knew how to operate it. One user credited his use of the Excel spreadsheet for budgeting to an explainer video he had watched on how to make a good budget sheet.
This thread inspired this post.