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Money saving

Can apps make it easier to manage your money?

Posted 31 July 2016

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Keep a close eye on your finances on the go with our top five money management apps.

Want a quick and simple way to manage your money in one place? Well, that’s where budgeting apps come into the mix. 

You can take control of your spending, monitor what’s coming in and going out and maybe even start to put some money aside for a rainy day. And the best part is you can track all this from your smartphone app – ideal if you don’t feel like you’ve got the time to look at your money. 

To make sure you’ve got your finances in check, we’ve put together a list of five budgeting apps.   

 

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Wally 

Managing your finances is made simple with Wally. You can make a note of the exact cost of your bills and upload pictures of receipts. By doing this, you can gather a clear view of your income and outgoings.

Wally allows you to work towards a realistic budget to achieve your own financial goals. You’ll receive notifications once you’ve reached each target. This is a great way to make sure you’re staying within budget.  

The app also boasts a location tool feature which identifies and categorises where you have been (as long as your location settings are switched on). You can then record how much you’ve spent. This is really helpful for gathering an insight into your spending habits.  

Wally is a free app available on iOS and Android.

Toshl 

Toshl is a great app that helps you visualise your spending. You can simply tag your expenses into various categories. This way, it’s much clearer to see what you’re spending. Toshl can even remind you when your bills are due, helping you to avoid late payment fees. 

You can set notifications to nudge you to input your expenses each day. This means you can make sure you’re tracking your entire budget. 

By setting a goal by using the budget tool, you’ll be able manage your money and see how much is remaining.

The app is free, and you’ve got the option to upgrade at a cost for added benefits. Toshl is available for iOS, Android and Windows.

Monefy

Similar to Toshl, Monefy lets you add your expenses under specific icons to help you track and easily identify patterns in your current spending. You can add and edit the categories to reflect your outgoings. The built in calculator feature is a great way to view your remaining budget.

You can sync your data to the cloud service, Dropbox, and this allows you to share your budget with your family members so you can track how much you’re spending together. You can also access the app across multiple devices.

Another great feature of this app is the secure password protection. 

The app is free on Android, but some of the features are only available if you upgrade to the pro version.

Money Dashboard

If you have multiple accounts and want to view balances in one place, Money Dashboard is a good option. You can view statements across all your accounts but the app doesn’t let you make withdrawals or transfers.

Your expenses will be grouped into various categories such as rent or food shopping. This makes it really easy to keep an eye on your budget. You can track your remaining allowance and making sure you have enough in the pot for your bills. 

Money Dashboard is free. It’s available for download on iOS and Android.

OnTrees

Similar to Money Dashboard, OnTrees is a free financial tool that lets you view all bank accounts from one app. It aims to show you exactly what is coming in and out of your accounts, making it easier to keep on top of your finances. With OnTrees, you can’t move money between accounts.

OnTrees is owned by Money Supermarket and is a great money managing tool. Like with the other apps, you can organise your spending by categorises to see where you could make possible cutbacks. 

This is a free app but currently only available to download for iOS and desktop.

Budgeting is an important part of everyday life. Developing great money management skills will help you avoid money troubles in the long run. You can keep tabs on your spending by simply downloading a budgeting app that works for you. 

You can find out how apps can help you stick to your budget on all areas of life by checking out our previous blog. Make sure you take a look at our other blogs for more tips on how to take control of your finances.

 

by Christine Walsh

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To find out more about managing your money and getting free debt advice, visit Money Advice Service, an independent service set up to help people manage their money.