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6 Free Apps that Make Personal Finance Easy

Posted in Main Blog
August 20, 2015 by Jenn R. Share on: Share on Facebook Share on Twitter

hand with cellphone Looking to get a better grip on your finances? With just a few clicks, the following money management apps can handle everything from organizing a personalized budget to putting aside funds so you can pay your bills on time.

Each app’s user-friendly interface makes it easy to manage your bank accounts and monitor your household expenses. No more hiring a costly financial planner and sifting through designated envelopes of cash. Ready, set, download!

For Budget Balancing

Mint allows you to link and track all of your desired accounts in a central location. After categorizing your transactions, Mint automatically generates graphs that analyze your cash flows and sets up a personalized budget based on your spending habits. In doing so, Mint helps pinpoint areas where you can potentially save money. Millions of people also use Mint to receive low-balance alerts indicating when and where they went over budget.

GoodBudget puts a modern twist on the old school approach of physically allocating lump sums of cash into envelopes each month. Under GoodBudget’s digital envelope budgeting system, you have the ability to divvy up your monthly expenses and analyze your spending habits, while sharing your personal budget with other family members. This app is ideal for those who want to manually keep track of their budget with a time-tested system that allows you to easily plan ahead, even if your pay schedule varies.

For Everyday Expense Tracking

Expensify has an easy-to-navigate interface that features the ability to SmartScan, add expenses manually, track hourly earning times, and record business travel distances. Specifically:

  • Expensify helps users to manage their money and expense reports by allowing them to easily snap a photo, categorize, and tag their receipts
  • It also offers GPS software to automatically import business trip commutes instead of requiring users to input their mileage manually every month

DollarBird, goofy name aside, is another great app for tracking your spending habits. After you input your information, DollarBird’s monthly calendar format gives you a color-coded, day-by-day rundown of your expenses. Add your income and budget to get an overview of how well you are sticking to your financial goals. You can also set up recurring transactions and handy bill reminders to save time entering your receipts.

For Fraud Protection

BillGuard is a digital watchdog service for any suspicious activity on your credit and debit cards. It relies on crowdsourcing to monitor corporate data breeches, recognize potential billing errors, and send SSN fraud alerts. BillGuard’s screen swipe system allows you to distinguish your actual transactions from any fraudulent charges on your account, knowing you have the support of an identity theft restoration specialist and a $1 million payback guarantee if any of your information is compromised.

For Group Payments

Splitwise allows you to organize all your shared expenses and IOUs in one place. Whether you are sharing a vacation, splitting rent, or owe someone for lunch, Splitwise provides a quick and simple way to disperse funds among friends. In addition to helping people honor their debts, Splitwise also offers “fairness calculators” that can provide mediation advice for your personal situation, if necessary.

Put your phone to work and investigate which of these apps will work for you and your lifestyle. Money management and budgeting doesn’t need to be a difficult process, so take advantage of the free resources you already have at your disposal. Don’t forget to let us know how it goes!


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