Setting up a budget is a tedious job, and for new budgeters, it can be a bit overwhelming to keep track of their finances. Some people aren’t good with numbers and prefer to look for apps that could take the math out of budgeting. To save you the hassle, we have compiled a list of the best budgetingapps along withthe nuts and bolts of each one for you.
Mint:
Best for: Newbies
What makes it stand out:
Mint shines the most when it comes to mending your spending irregularities. You have to link the app with your bank account, and it will slice down your expenses into varying categories such as shopping, bills, recreational activities, and transportation. The app will automatically respond with a wise budget plan based on your previous spending record.
With Mint, you can also access a snippet of your credit score and net worth whenever you wish.
Pricing: Free
Look out for/ watch out: Categorization mistakes can occur sometimes.
Trim:
Best for: Advance Level
What makes it stand out:
Trim offers a unique feature called ‘Bill Negotiation’ to its users. The app itself analyzes your expenses along with your internet facility, cable, and wireless bills in order to fetch you a better option with the company at a lower rate.
Pricing: It is technically free, but if you want to avail Trim’s bill negotiation feature, you are expected to pay 33% (lump sum) of what you saved in a year using Trim.
Look out for/ watch out: Paying 33% of your savings sounds like a deal-breaker, isn’t it?
Charlie:
Best for: Learning about money management
What makes it stand out:
Charlie-the friendly penguin mascot has an interactive design, and it is easy to use even if you aren’t a tech-savvy person. Charlie is a chatbot. This little penguin welled up with financial acumen is always eager to answer your finance or budget-related query so that you could make intelligent budgeting plans and save more.
Pricing: Free.
Look out for/ watch out: Push notifications and ads would pop up all the time, and it becomes annoying for the users.
Zeta:
Best for: Couples
What makes it stand out:
Couples often struggle with keeping track of individual and shared finances, be it personal expenses or combined grocery shopping. With this app, couples can set and maintain their personal and shared goals to curtail any overlap.
Pricing: Free.
Look out for/ watch out: The app is pretty functional; however, the website is outdated and challenging to navigate.
The bottom line: Each app is designed to serve a specific budgeting objective. Honing in on the features, usability, and ease of each app, you can select the one that speaks for your budgeting goals.
So, good luck and happy budgeting!
