5 Budgeting Apps for Your Smartphone

Written By:

shutterstock_114942895In a tough economy, people struggle not only to make money but also to hold onto their paychecks. After fees, taxes, and inflation, many find themselves left with just enough money to cover their basic expenses. The good news is that these 5 budgeting apps for your smartphone can help you manage money more efficiently. The following apps assist with both tracking and managing budgets.

Easy Envelope Budget Aid (EEBA) – Android and iPhone
Cost: Varies from free to $8 per month

Anyone who loves the Dave Ramsey envelop budgeting system will love this app, which is based on this system. This envelop budgeting system calls you to use cash envelops (where you put your budgeted money) in order to control monthly spending. One of the biggest perks with this app is that you don’t need to be in a Wi-Fi zone to make entries and find account balances. The app allows access to all information on mobile devices and through the Internet. You also have the option to share envelopes. With updates sent every minute, families never have to worry about spending too much at the wrong time. Additional features include transaction scheduling, month-to-month comparisons, and expense breakdown reports that can be printed.

[Check Your Credit: Don’t Guess. Know.® Get your free credit report and score. No credit card required.

Nickel Tracker – Android
Cost: Free

Nickel Tracker is another envelope budget app that helps users stick to their budgets successfully. You create your budget, divide the money into different categories, and set spending limits within those categories. The app records and tracks each registered purchase, sending the user alerts when he or she has exceeded the predetermined budget. The text turns red when you reach the designated spending limit. The app also offers the option of emailing the information in an Excel spreadsheet.

EasyMoney – Android
Cost: Free trial; $9.95

Easy Money is considered the top tracking and budget planning app for Android. It has been one of the top 10 budgeting apps ever since it was released. The user interface makes transaction input quick and easy, plus you receive notifications of bills that are both upcoming and overdue. The app features graphs for tracking cash flow, interactive reports, a checkbook manager, and categories that you can assign. Users are able to create monthly budgets and limits and track their actions through color-coded text, as well as import and export data and take snapshots of receipts and bills.

Mint – Android and iPhone
Cost: Free

Many people choose Mint because it is free. It’s a great choice because Mint has a stellar range of features, a high level of security, and a simple, streamlined interface. Users access their automatically updated balances and transactions on mobile devices and through the Internet. These balances and transactions are organized directly into the categories that you assign. Users love Mint because it enables them to set budgeting goals, review budgeting tips, set bill reminders, and save late fees on monthly expenses such as mortgage and credit card payments.

iXpenselt – iPhone
Cost: Free Lite version; $4.99

iXpenselt does not have the most aesthetically pleasing interfaces, but it offers clear data quickly with back-up features and password protection. Users love the rapid data entry, PDF reports, daily reminders, and account transfer and balance features. iXpenseIt also offers full access to your total monthly expense report, which includes daily, weekly, and monthly comparisons. You can set up repeat events for recurring expenses and plan your budget successfully with trend bar charts. People interested in a more advanced budgeting features such as mileage tracking and multiple currencies should highly consider iXpenseIt.

[Check Your Credit: Don’t Guess. Know.® Get your free credit report and score. No credit card required.

About the author: Kristen Gramigna is Chief Marketing Officer for BluePay, offering mobile credit card processing services. She brings more than 15 years of experience in the bankcard industry in direct sales, sales management, and marketing to BluePay and also serves on its Board of Directors.