Spending may be a breeze but keeping track of your expenses is a whole different matter. If you’re not careful, spending can get out of hand. There’s always a risk of overspending when you don’t make an effort to monitor the money coming in and out.
To help you can track down payments, purchases and other cash outlay, check out these budgeting apps that you can download on your smartphone or tablet.
EXPENSIFY lets you track daily expenses, take pictures of receipts and create expense reports while you’re on the go.
The SmartScan feature is a convenient way of processing details of receipts. Simply take a picture of your receipt using your mobile or handheld device and upload it to your Expensify account. The app will attach the receipt to the associated expense. Processing may take up to 10 minutes. SmartScan may be disabled by the user.
You can input expense details using the Expense button. Enter the expense details and categorize it. There is an option to add expenses to a report.
The Time button can easily track expenses based on time. For instance, parking fee that charges by the hour can be added to the app by entering the number of hours and rate for those hours. Expensify will automatically compute it for you.
Monitor mileage expenses using the Distance button. For people who frequently travel, there’s a Trips section where you can forward itinerary receipt.
Expensify works on iPhone, iPad, Android, Windows Phone or Blackberry.
MONNY enables you to monitor your personal finance. Monny is simple app that allows you to add entries and monitor expenses by tabulating them. Monny determines your highest expenditures and points out areas where you can cut back. It can also help you achieve saving target by teaching you good personal finance habits. Add a passcode lock to ensure privacy and security.
TRAIL WALLET is a travel expense tracker ideal for people who love to travel. Trail Wallet can help you determine if you’re sticking to your budget or spending too much than previously planned.
This app tells you if you still have enough money to spend on your trip. It tells you how much you spent and available funds. Just choose your home currency and convert your money to desired foreign currency. Set a daily budget then add expenses each time to get a bill or receipt. Organize expenses according to items such as accommodation, food, transport, miscellaneous, etc. Customise by creating color coded categories. At the end of your trip, you’ll be able to see how much you have spent. It features Twitter and Facebook support. You can also email CSV reports directly to the app.
SPENDING TRACKER makes it possible to set a fixed budget every month and determine cash outflow. It provides information about your Spending status by letting you know if you have over spent or under spent based on your allocated budget. The app is useful when making comparisons of past and current spending behavior. It provides graphs of cash inflow and outflow. Spending Tracker gives a report to analyze spending breakdown and history.
MONEY WISE is an electronic checkbook that can keep track of everyday expenses and monitor cash flow. The user can tag, filter and browse through expenses according to date, account or category. Visual aids like graphs are provided for better overview of spending trends. It does not require registration or Internet access. It is possible to create multiple accounts and multiple budgets.
MONEY LOVER – EXPENSE MANAGER this app gives you better control of your spending by giving you constant reminders about your spending behavior. It is easy to add transactions with picture attachments. It provides Report and Analysis of incomes, expenses and savings. It’s also a good tool for managing travel expenses. Manage your finances wherever you are using the Cloud Sync Solution feature. The app opens using a PIN code to ensure security of your financial data. This app is compatible with iOS and Android devices.
TOSHL FINANCE lets you worry less about your finances by telling you where your money is going. Find out how much money you have spent so far to alert you if you are spending too much. Set up a budget that you can work on. You can make a saving goal by monitoring and controlling the money that goes out. This app works on iPhone, Android and Windows phone.
MINT is a free iPhone app that has the philosophy “money on-the-go made easy”. It’s simple and requires only one time set-up. Within minutes, the user can track where his money is going, how his investments are performing and determine areas where he could save money.
One great advantage of Mint is the feature that enables users to see balances, transactions and financial information in one setting. The user is not required to perform book-keeping.
However, Mint.com is still limited to US banking financial institutions but the company is considering expanding outside the US.
Photo by author.
Rachel Yapchiongco, also known as Rach to her friends, is a Psychology and Marketing Management graduate of De La Salle University. Rachel is a full-time mom to a charming young boy and married to an entrepreneur who has a passion for cooking. She shares parenting experiences and slices of everyday life on her personal blog called Heart of Rachel.