Efficient applications to manage your personal finances

Applications to manage personal finances have become one of the most convenient and feasible mediums when it comes to improving your financial health. 

Quick question: Where do you see yourself after five years and why do you see yourself as financially sound? 

Managing personal finances to become financially sound

Now, being financially sound does not only mean making good money but also being fiscally responsible. And, for that, it is not only important for you to know how much money comes to you but also how much goes out and where it goes. 

Inculcating the habit of managing finances responsibly can go a long way in ensuring the success of your sought-after future. So, why not begin today with your pursuit of providence?

Here are five applications that will help you manage your finances with just a click:

Money Manager Expense & Budget

This app has multiple currency support which enables you to insert your entries in several currencies and generate the total balance accordingly. It is a user-friendly app that uses illustrations like pie charts and graphs for a better and easy comprehension of the statistics. It operates on the double-entry bookkeeping method, meaning every transaction will be reflected on the debit as well as credit sides which will help facilitate a systematic record. It shows the weekly, monthly, and annual statistics that help plan the budget more efficiently. 

To make it more secure and protect your data, you can set up a passcode and back up the figures on Google Drive. Additionally, you can change the start date of the month according to your convenience. It has introduced features like changing the theme and activating dark mode as well, making it more functional and accommodating and helping you manage your finances. 

Account Book - Money Management

Account Book caters to both personal and professional financial management needs. It provides a collaborative paradigm where you can share your accounts with your business partners, co-workers, and accountants. 

Its reminder feature helps you prepare in advance for upcoming payments and bills. This app takes into account over 150 currencies and has a seamless customer support system. What’s better is that it provides advanced statistics of your transactions along with summary reports. 

You can enter the transactions of multiple accounts and get quick access to your data which makes it quite handy. Moreover, the data gets backed up on the app, as well as the cloud which can enable you to access it from different devices. With a stellar rating, this application can help you manage your finances. 

Monthly Budget Planner & Daily Expense Tracker

Intuitive and coherent navigation enables the app to meet the needs of the users. It has a myriad of features ranging from an inbuilt calculator and data backup to speech recognition and daily transaction monitoring. A unique facet of the app is that it provides budget forecasting. 

It prepares a six-month forecast based on your previous transactions, which can help you identify your spending habits and make room for an anticipated future expense, thereby helping you manage your finances. 

The previous entries are even used to autocomplete the current functions. It surely helps you track your budget and make financially expedient decisions.

1Money - Expense Tracker, Money Manager, Budget

With over one million downloads, 1Money provides a quick and efficient way to manage your finances. You can record your cash flow and expenses relating to multiple accounts and customize the app at your convenience. 

The photo feature helps you add your bills and receipts for future reference. Moreover, it provides cloud-based data synchronization to secure the entries. The interface is quite comprehensible which helps you record your entries and forecast your budget based on the statistics provided. 

This application certainly helps you manage your finances. This will help you be mindful of your expenses. It’s professional yet coherent and accessible.

Expense Tracker: Expense Manager & Family Budget

You can stay on top of your finances with the Expense Tracker app. Apart from bill reminders, money management, and budget planning, it provides adequate security controls as well. The privacy mode ensures that your transactions are incognito, which even the developers cannot access. 

An interesting feature is that it helps you track subscriptions too, be it Netflix, Amazon Prime, Zomato, or a study journal. The family budget planner feature in this application which helps you manage your finances aims at inculcating prudency by increasing accountability, where you can plan for loans for home or education. It is an easy way to keep track of everything on one platform. 

Conclusion

When executing transactions is just a click away, managing those is equally, if not more, effortless. The aforementioned are some of the best apps which can be used for this purpose. The discipline has to come from your end and they will help facilitate the fruition of your financial goals. Take a step today and spare some time regularly to update your income and expenses and reap the fruits tomorrow in making better financial decisions!

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Frequently asked questions

1. What are the best free budgeting apps?

• There exist a myriad of budgeting and financial management apps available on the internet and one may choose amongst them, as per the services sought. You may download a few of the apps which seem good and use them for a while to see what best suits your interests. 

2. Do budgeting apps really work?

• These apps do work as they not only ensure that you plan your finances but also take action to execute the plan. Many of them also provide insights and statistics which can help assess where the expenditure is unnecessary and what can be done to improve the financial health. 

3. What do financial management apps do?

• Finance management apps make managing personal finances convenient and disciplined. They record the transactions entered and present your financial data and generate reports which may help you in being more financially efficient. 

4. Is it safe to link your bank account with budget apps?

• There is no uniform answer for every app. More so, while some apps may be safe, accessing the same using public wifi can compromise your data and privacy. Therefore, it becomes essential to practice cybersecurity and be careful while giving your data. 

5. Why should I use financial management apps?

• The popularity and utility of smartphones have made managing personal finances just a tap away. Many of these apps provide customized functions, study your spending habits, and help you take a step towards ensuring your financial well-being.