Are you trying to save more money but never seem to find any left over at the end of the month? Or, are you wondering how to create a budget in the first place? The answer is easy: use your phone as a budget planner. Nearly half of all American families have nothing saved for retirement, and 62% of Americans have less than $1000 in total savings. Using a budget planner will help you save more, pay off debt and improve your credit rating. Here are five great options for managing your budget on the go.
Mint, created by Intuit, allows you to define a budget for each type of expense. You can also create your own custom labels. Mint will add up all your budgets compared to your income, and tell you if you have money left over.
Some handy features of the Mint budget planner are:
You can download Mint for iOS, Android or use the web browser version.
GoodBudget uses the envelope system. This means each category, like groceries and rent, contains a set budget at the beginning of the month. The app then tracks your spending in each category, or “envelope”. It deducts your spending from the total budget, showing what you have left.
GoodBudget is available for iOS, Android and web browsers.
Wally adds modern design to budget planning to give you daily reports of your spending on your phone. Your main dashboard shows how much money is left in your budget for the month, and how much you’ve spent over the past few days.
Notable features of Wally are:
Wally is available for iOS or Android phones.
Spendee is one of the more advanced budget planners on this list. It has premium features like the ability to separate personal and business income.
Spendee allows you to:
Spendee has free and premium versions. It’s available for iOS, Android and web browsers.
Every Dollar is unique as it doesn’t just track your spending, it teaches you how to save. The app follows Dave Ramsey’s seven steps to financial freedom. They go from saving your first $1000 to building wealth. Every Dollar shows you your progress for each of these seven financial goals.
Every Dollar also:
Every Dollar is available for iOS, Android and web browsers.
Whether you use an Excel spreadsheet or a mobile budget planner, remember to check in with your progress frequently. Struggling to get out of debt or save more? Read more of our top tips for savvy saving!