Smartphones are truly amazing devices. With these mini-computers in our pockets, we can order food, pay one another, hold conversations with family members halfway across the world, and do so much more. Everything from socialising to media consumption to business has been completely transformed by the advent of smartphones, and it’s now hard to imagine a world without them.
Nowhere is this more true than the world of finance management. It’s easier than ever to look at your spending, understand where you’re going wrong and rectify the situation. If you’re looking for a way to manage your finances effectively and quickly, you can’t go wrong with the range of finance management apps out there for both Android and iOS. Here are just 7 of them.
Hands down, Yolt is the best all-round money management and budgeting app you can get on your smartphone, no matter which operating system you’re using. If you’ve got multiple accounts, Yolt will help you keep track of all of them. You can import transactions, easily transfer money between your accounts, and track your expenditure. Yolt is excellent for tracking loans, too. Let’s say you’ve got yourself a loan from an excellent provider like Fair Finance. Using Yolt, you can see when repayments are due, move money between accounts to more easily make repayments, and see how much you have left on your loan if you input that information. This really is the best finance management app out there.
2. Tandem (Google Play, Apple App Store)
Tandem’s coolest secret is its auto-savings feature. Each week, Tandem will use a set of in-built rules to set aside small, regular amounts of money. You won’t miss the money Tandem saves (and you can, of course, stop the app from doing this) but you’ll thank Tandem once you’ve got more money stashed away than you thought you would have. These savings are kept in a 0.5% interest account, ready when you need them, so you can always access them. In addition, Tandem allows you to connect all of your bank accounts to the app and see your spending and recurring bills in one easily accessible place.
3. Money Dashboard (Google Play, Apple App Store)
Like many other financial management apps, Money Dashboard allows you to connect all of your bank accounts so you can easily see transactions and expenditures. It’s got a beautiful pie chart interface that makes it easy to see what kinds of transactions are costing you the most. Perhaps the most unique and interesting feature of Money Dashboard is its ability to automatically categorise transactions. If you’re spending too much on coffee, Money Dashboard is an app that will let you see this information quickly and decide how to take action. Your financial information is available in the form of various graphs and charts, making finance tracking simple and fast.
4. You Need A Budget (Google Play, Apple App Store)
How you instinctively respond to the name of this app will probably dictate whether it’s a good choice for you in terms of finance management. You Need A Budget was created for those who know they should be budgeting but just can’t find the will or motivation to do so. In YNAB, every dollar has a function and there are no excuses. If you’re not spending, you’re saving. If you are spending, you should be finding ways to spend less. You can build a detailed budget, adjust categories based on fluctuating expenditure, and get in-depth reports on how you’re spending and what you could be doing differently. YNAB users save roughly $600 in their first two months, so imagine what it could do for you over longer periods of time.
5. Cleo (Google Play, Apple App Store)
Cleo is a very interesting case indeed. Rather than providing the same budgeting tools and functions as the other apps on this list and many more out there, Cleo instead takes a more hands-on approach. This AI assistant can read your bank accounts (she doesn’t have write access, don’t worry) and intelligently look after your money for you. Unlike other apps, you’ll interface with Cleo directly through a series of questions. You can ask Cleo how your money is looking, or what you spent on a certain thing this month, and she’ll be able to answer you. Cleo is a chatbot, so she can answer your questions directly, but she can also provide charts and graphs. This app is perfect for those looking for a personal touch.
6. Spendee (Google Play, Apple App Store)
Here’s a personal budgeting app with a difference. Spendee can provide the usual charts, graphics, and up-to-date financial information for you, and you can also categorise your spending and set notification reminders. Where Spendee sets itself apart is in its features for frequent travellers. You see, Spendee allows you to monitor and analyse transactions using different currencies. This makes it perfect for those who like to go abroad or who do business in other countries frequently. You can also set up joint accounts, so if you’re going into business with a new partner you should definitely consider Spendee as your money management app.
7. Wally Next (Google Play, Apple App Store)
We like to keep on top of my finances, but even we are occasionally tempted not to log transactions. When that happens, we turn to Wally Next. Using this excellent app is an absolute breeze thanks to effortlessly intuitive menus and graphics, but that’s not the only trick it has up its sleeve. Wally Next allows you to scan receipts and automatically enter transactions based on the results. Not only that, but you can use geo-location to tag each transaction so you know where you were and what you spent your money on at any given time. This app is ridiculously convenient, and although it doesn’t quite match some of the others on sheer power, it’s still a wonderful tool.