7 Budgeting Apps You Must Download Right Away

Updated on: 22 Jan 2024 // 4 min read // Personal Loans
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Need help managing your finances? Are those expenses blowing way out of proportion to fit into your budget? Or do you just need to monitor your income and expenses to make well informed financial decisions? Whatever your bone of contention may be, a budgeting app goes a long way in ensuring that you do not spend long hours trying to figure out your finances.

Here are 7 amazing budgeting apps that you should download right away to make your financial life simpler and easier.

1. Mint

Mint is quite easily one of the oldest and best-known budgeting apps in the market. The app is equipped with a variety of features which enable you to track and manage all your money; including your transactions and status quo with your banks, lenders and other types of financial institutions. The most useful among its features are its budget tools. All your transactions made through linked credit and debit cards are automatically categorised and tracked against a budget that you could customise as and when you need. You could get a comprehensive overview of your cash flow to understand your current financial position. The app also gives alerts when you overshoot your budget or when unusual charges occur.

2. You Need A Budget (YNAB)

YNAB is probably the most unique of all budgeting apps. Rather than taking the conventional route of creating a budget based on your expenditure, YNAB builds a budget on the basis of your income. Every rupee is assigned a ‘job’; which may be a debt repayment or an expense. You could also assign money to savings and investments in order to achieve your long-term financial goals (a special goal-tracking feature also helps!). Not a single rupee remains unaccounted for. The app allows you to plan for unusual expenses, helps you deal with overspending and makes you learn how you could live on the last month’s income.

3. PocketGuard

PocketGuard is an app that is extremely useful if you are wary of overspending. The app is easy to set up and you could connect it to all your financial accounts with minimum fuss. PocketGuard tracks your expenditures and then holds them up against your budget. It also keeps a record of your income and savings throughout the month. You could track down each individual bill to analyse your spending habits and find saving opportunities.

Such dedicated expense tracking and pursuance of monetary goals do wonders to your financial well being. This is then reflected in your credit score which eventually boosts your Personal Loan eligibility. Personal Loans are now readily available for any individual who maintains a steady financial base. You can Apply for an Unsecured Personal Loan Online on mymoneymantra.com, India’s foremost online destination for high-quality financial services. Here, you could find a host of pre-approved, Low-Interest Personal Loan Offers from top banks and NBFCs (Non-Banking Financial Companies); handpicked for you by their service-oriented professionals.

4. Wally

Wally is an easy to use expense tracker that provides all relevant financial information to help you gain control of your finances. On this app, you could set a spending budget and savings target for yourself. The app’s neat features make it easy for you to ascertain where you stand with regards to your savings goals. Wally, through its social and location tools, provides detailed infographics of where and how much do you spend your money.

5. GoodBudget

GoodBudget utilises the principles of envelope budgeting method to manage your finances; sans the hassles of carrying a stack of envelopes along with you. The app is widely popular among young couples as it allows them to share and sync the budget with each other across all iPhones and Android devices. This helps both partners to simultaneously keep a track of the expenses and to know where, when and how the money has been spent.

6. IOU – Debt Manager

IOU – Debt Manager is a budgeting app that focuses on your debts and credits. How much money you owe to people and how much people owe you are the focal points of this app. The app creates a contact page for each individual or lender you owe money to. A summary of the payable or receivable balance along with the transaction history is maintained for each contact profile. A record of settled debts is also maintained on this app. You could manage periodic or recurring payments, debt repayments or a payoff date for a one-time payment through the app. This feature is particularly useful if you need to manage EMI payments for a loan.

7. Personal Capital

Personal Capital leans more towards the investment and income side of things than on spending. It links all your investment accounts and puts them in one place, providing you an overview of your income and investments. Tracking your investments and reviewing asset allocations has never been easier. The app’s budgeting tools make it easy to compare your expenses against your income and avoid overspending. Besides, its interactive cash-flow tools too are of great help in managing both your current and future cash flows.

Budgeting apps are a highly convenient and mobile solution for your budgeting issues. Having one of them on your phone ensures that those sleepless nights spent fretting over the finances stay far away from you. Make full use of their functions and work in tandem with them to get the best possible results!