Money management apps are a great way not only to check your balance or see how much you’ve spent, but to see how much you’re spending, what you’re spending it on and whether there any areas you can cut down on to save a little bit of money.
We know what it’s like: pay day rolls around, and you see a big chunk of money dropped into your account. You check your balance and your mind begins to race. Should you buy some new clothes? Or maybe go for a nice meal? Maybe both? You’ve worked hard this month, you deserve it. But then the end of the month rolls around, things get a little tight and you begin to regret that initial splurge.
Or maybe it’s not that at all. Maybe the money comes in, you resist the temptation treat yourself, but at the end of the month, things are still getting a little tight.
That’s why we’ve compiled our choice of the four best money management apps to help you see where you’re spending and how you can cut down to make things easier at the end of the month. Maybe you might even be able to tuck some money away for a rainy day.
Top Money Management Apps
Budget Tracker: The Citizen’s Advice Bureau money management app
One of the free money management apps, provided by The Citizen’s Advice Bureau (available for iOS and Android) is basically a one-stop-shop for all of your monthly budgeting needs. Not only can you set your daily, weekly and monthly budget, but you can also categorise your income and expenses – which, among other things, lets you see your essential expenses and your non-essential ones. This gives you a quick understanding of your spending habits to see where you can save a bit of money, where you may be overspending and – even better – where you might be able to spend a little more.
Plus, it’s super easy to use and gives a detailed breakdown of your budget and how much you’ve got left for the month. For a free app, you can’t say better than that, can you?
Daily Budget Original: a clean and easy budgeting app
Another pick from the free money management apps, Daily Budget Original (available for iOS and Android) provides many of the same features as the Budget Tracker, but with a few additions. Firstly, you can tell the app that you’d like to start saving for a big purchase (a holiday, a car, a mortgage) and it will instantly deduct the amount you’d like to contribute a week/month from your daily and weekly budget. That way, when you look at how much you’ve got to spend today, you’ll see the amount you can spend and still put money towards your big purchase.
Eventually, you forget all about the amount you’re saving, and it builds up and leaves you with a very pleasant surprise. The other great feature – in addition to the analytics and graphs of your spending and saving habits – is the roll over feature. If you come in under budget on a few days, the amount rolls over to the next – meaning that, if you have an event or social occasion at the end of the week, you can see how not buying that coffee or not going out for lunch lets you treat yourself at the end of the week, without being out of pocket!
Spend Today – Save Tomorrow! A budget app designed to help you fund big weekends
Unlike the other apps, Spend Today – Save Tomorrow! (iOS only) doesn’t aim to help you budget for a big purchase, to save money or to really keep to your budget. Their aim is to help you make sure you can afford that big night out, slap-up meal or birthday party at the weekend. And, what’s quite nice about this app is that it isn’t all about being frugal and being careful with every penny – it quite clearly shows you how much you’ve got left to spend today and still afford the weekend, and actively encourages you to treat yourself! Sounds perfect, right?
OnTrees Personal Finance: the Money Supermarket spending tracker
Easily the best looking, efficient and comprehensive offering on the list, the OnTrees app (iOS and Android) shows all of the information across all of your accounts so you can stay up to date and in the know. The app lets you see, at a glance, how much money is coming in and going out, as well as a complete breakdown of how much you’re spending on bills, leisure activities and travel, so that you can start making informed decisions about where and how to save money.
Although this app may not have the same sense of fun as a few of the other apps, its sleek design, easy to read graphs and compatibility with the Apple Watch make it a comfortable front runner and a must have for anybody looking for a free app to help them save money.
If you’re looking for more ways to help you save money, why not check out our handy guide to making your money go further?