It is the end of the month and all your salary is already finished. And you don’t understand where all your money has gone. This is the scenario that many of us face almost at the end of the month. Certainly, you are here searching for ways or methods to solve the problem you are facing. This article is for you in which we are going to get to know about personal expense tracker apps.
Our busy lives have made us forget to manually track our income and expenditures and basically, we don’t have time to sit down and track our expenses.
INTRODUCTION :
Now we have smartphones, the job of monitoring our income and expenses has been made easy by many personal finance tracker apps.
These daily spending tracker apps chiefly gather the expenditure and income information from transaction messages from our mobile phones (when given access).
They produce our data in the form of colorful bar graphs, and pie charts and help us easily understand where we are spending our money unnecessarily high.
This helps us to cut down our expenditure on that particular thing in the next month by which we can increase our savings, at the same time invest our money into something useful.
WHAT IS PERSONAL EXPENSE?
Expenses of an individual other than those used for businesses or investment purposes are personal expenses. These are the cost of living for the person or his family.
Examples of some personal expenses are food, health care, internet, household consumables, snacks, gifts, travel expenses, equipment, etc.,
All these are personal expenses that a person should track down to monitor the finance and balance the income with that of expenses
Various personal expense tracker apps are available to help you to track and thus help manage your financial issues.
WHAT IS THE NEED TO TRACK YOUR EXPENSE?
Imagine, you are a person who doesn’t track his expenses, at the end of the month or at one point where all your money is finished you will be very much confused that where all your money has gone.
Certainly, we cannot track our day-to-day expenses manually by writing them down or by remembering them and we may not remember every penny we have spent.
Here, in this case, personal expense tracker apps play a vital role. It is very important to track our expenses because this helps us to understand where our expenditures should be minimized or increased to reach our personal goals in life.
WHAT ARE THE BENEFITS OF TRACKING PERSONAL EXPENSES?
Here is a list of a few benefits of using personal expense tracker apps to track your expenses
- Helps you to understand your areas of expenditure
- Helps you stick to your budget
- Helps you recognize negative spending behavior.
- Enables you to meet your financial goals.
- Improves financial security.
- Helps you to encourage and increase savings.
- Avoids debt.
- Helps you to spend your money mindfully.
TOP 5 PERSONAL EXPENSE TRACKER APPS FOR ANDROID AND IOS.
These are the top 5 recommended personal expense tracker apps
1. MONEFY
2. SPENDEE
3. WALLET
4. YNAB
5. MONEY LOVER
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1. MONEFY
Monefy budget manager and expense tracker app by reflectly is an easy and efficient app.
AVAILABILITY: Ios and android for free ( contains in-app purchases)
KEY FEATURES: East to use interface
Distributes expenses into easily understandable charts
Tracks multi currencies
Easy backup
Built-in calculator
Use multiple accounts
Take control of recurring payments
Safe and secure
RATING: 4.3/5 -Play store
4.7/5 – app store
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2. SPENDEE
Spendee is a great and customizable option to help keep track of your income and expenses.
AVAILABILITY: Ios and android for free(contains in-app purchases)
KEY FEATURES: Budgets to help you stick to your financial goals
Wallets to organize cash and bank accounts
Shared finances to efficiently manage money with partners
Handle multiple currencies
Labels to mark and analyze transactions in more depth
Safe and secure
Dark mode
Available web version
Attractive charts and designs
RATING: 4.5/5 -play store
4.7/5 -App store
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3. WALLET
Wallet (by BudgetBkers.com) is a market-leading personal finance manager, built to help you save money, plan for the future, and see all your finances in one place.
AVAILABILITY: IOS and android for free ( contains in-app purchases)
KEY FEATURES: Automatic bank updates
Flexible budgets
Easily understandable graphs and insightful reports
Planned payments
Sharing selected accounts
Imports or manual updates
Multiple currency support
Automatic cloud sync
Receipt and warranty tracking
RATING: 4.6/5 -Play store
4.6/5 – App store
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4. YNAB (YOU NEED A BUDGET)
YNAB is a popular budgeting app designed to help people take charge of their finances.
AVAILABILITY: IOS and android for free ( contains in-app purchases, free for 34 days monthly or annual subscription available )
KEY FEATURES: Bank sync
Real-time expense tracking
Loan calculator
Goal tracking
Spending and net worth reports
No-ads
Award-Winning customer support
RATING: 3.8/5 -Play store
4.8/5 – App store
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5. MONEY LOVER
Money lover ( by falsify ) is the award-winning personal finance and money management app to manage money.
AVAILABILITY: IOS and android for free ( contains in-app purchases)
KEY FEATURES: Transaction and expenditure tracking
Link your bank account for automatic tracking
Financial planning
Monthly, weekly, daily reports
Event budgeting
Recurring transactions
RATING: 4.3/5 -Play store
4.6/5 -App store
CONCLUSION
The above-mentioned personal expense tracker apps can meet your needs to track your expenses and enhance your finance management. Monefy app available both on the play store and app store is our recommendation for tracking your expenses. Thank you for reading this article.
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