Top 5 Free Personal Finance Tracking Apps
Tracking your personal finance is easy to do, and even easier to forget. While recording every single expense, even the small items, is important to ensure accuracy, it can be very tedious to record it. This is especially so as you need to record it at the moment in time in which the purchase is made (which can be very inconvenient if it’s an ice cream, or very awkward if it’s our date’s birthday meal), or accumulate a whole stack of receipts for tracking at the end of the day or week. This commitment towards something so troublesome and inconvenient is often the reason why people do not track their personal finances.
However, gone are the days in which you have to key all your expenses into a boring excel sheet. My inertia to open an excel sheet is strong too. Thankfully, there are now interesting, vibrant and fun apps that can help you track your personal finance. Psst, they are free.
1. Fortune City
This is a third offering in a series of popular habit forming games from Fourdesire, better known as the creators of the Plant Nanny app and Walkr app. Similar to how the wildly popular Plant Nanny app (which is also free) encourages you to drink more water by personifying a potted plant that will die of thirst, Fortune City gamified the bookkeeping experience with an adorable and colourful city simulation. In this game, you aim to expand and build your city by keying in expenses when incurred. Over time, you get to watch your city grow. This is an interesting way to visualize spending as opposed to the usual pie charts and bar graphs that can be a tad boring. One thing to note will be that the city does not grow proportionate to the amount that you incur. As such, it is not an accurate visualization. Fret not as the app will ultimately still generate charts to show your spending patterns and where your money went.
There are even achievements that you can unlock in the game when you spend less, assign jobs to citizens, increase coin storage capacity and more. As ironic as it sounds, you will need to spend money to record transactions in order to build your city. Still, it is definitely a fun way to track expenses and cultivate good financial habits.
While there is an abundance of personal finance tracking apps, Dollarbird stands out as it uses a calendar to track your expenses as opposed to less relatable grids or spreadsheets. It functions just as how a calendar functions, so it is very easy to use. You can also colour code categories to make it easy to see at a glance what you have spent on. You can also set reminders to pay bills or recurring payments. A monthly summary will also show you where your money went.
Mint is widely known as the budgeting app that takes all the annoyance out of building a budget.
After connecting your bank account and Mint together, you just sit back and relax as Mint uses your details to create your personalized budget.
The team which brought us apps like TurboTax and Quicken is behind the Mint app, so you shouldn’t get worried as your data is not in the wrong hands. Furthermore, steps are always taken to secure your account and information.
As a further benefit, Mint will provide tips which will help you reduce the money you spend on bills.
Wally is a well-known budgeting app among the mass and it is quite aesthetic.
Wally lets you manually log your expenses and store pictures of receipts all within a well organized and beautiful virtual budget journal.
Again give Wally access to your location and it will tag your current location when you log on your expense and giving you an extra detail.
It also alerts when you have hit your saving goals or when you need to pay your bills.
Platform availability: Wally is free to use and available on both iOS and Android
5. Level Money
We most generally want to make a budget because we want to know how much we can spend. But your regular budget doesn’t alert you how much you can spend unless you take a look at it.
That’s the benefit of having an app, it can remind you, and just like that Level Money will constantly (but not annoyingly) remind you and help you stick to the budget you made.
You can have Level Money connect with your bank, and the app will detect your income, expense and analyze what you can spend.
The apps pretty handy if you want to save up for a big purchase or pay the debt.