You might need different types of help with your budgeting. Some apps can be more suited if you need to control your debt, while others are good for learning where your money is going. Finding the right app can boil down to knowing just what you want to achieve with the app. Are you looking to save more, find ways to invest or get help with your financial questions? Perhaps you want a bit of everything, and an all-round budgeting tool is what you need.
Different apps can help with a variety of tasks. Below are six useful apps that are great for solving different budgeting needs.
An all-around budgeting app: Money Dashboard
If you want to get a good look at where your money is going, then Money Dashboard is a good option. The app asks you to link all your accounts with it, so it's a good option if you have more than one account. You can see information about your savings and investment accounts in a single view.
The app shows you precisely where your money is going. You can categorise your spending and display different spending charts, for example. These give you an idea of how much you could be saving by changing your spending habits. You can see if your entertainment expenses are getting out of hand or if you’re not meeting your savings goals.
An app to make your money last: Squirrel
Squirrel is a good budgeting app if you are currently struggling to make your money last. The budgeting app separates your bill money from your spending money, making it easier to see how much extra you have to spend each month.
To use the app, you add your monthly expenses to the app, together with any savings goals you have. The app will then release your money when the bills are due together with a weekly spending allowance. It’s a great app to learn about budgeting and ensuring your spending stays under control.
A personal saving advisor with a twist: Emma
Do you have a habit of buying that extra muffin on your way home from work? If you want help with cutting down these little treats from your budget, Emma is a wonderful app to try.
The app lets you link all of your cards and accounts to it to see where your money is going. It will then provide you with assistance in slimming your budget. The app’s artificial intelligence sets you up with savings manageable savings targets. You’ll also receive gentle reminders if you seem to be using your credit card a little too freely. The app is excellent if you are looking to save more towards a particular goal.
An app to answer your financial conundrums: Cleo
Artificial intelligence is becoming more advanced, and budgeting apps use it to offer a more comprehensive service. Cleo is a chatbot assistant that can look at your accounts and provide you advice based on what it sees.
You can ask about spending and saving, with the app creating easy-to-understand charts and graphs for your queries. The app also has a great blog offering budgeting tips. The user-experience is fun, and the help you receive is useful in terms of smaller budgeting goals. But if you want in-depth advice and support with major saving goals, the app can feel a little too lightweight.
An app to find better ways to spend and save: Yolt
You might have the basics of budgeting under control, but you are looking for those extra tweaks to improve. Yolt is a budgeting app that helps you find a better deal on your current services.
You can link all your accounts with the app and manage your subscriptions and bills. The real selling point is how it can help compare your current deals to those on the market. It can make it easier to find better deals and ensure you're not spending money on bad deals.
An easy investment app: Plum
If you are looking to invest your money, you might enjoy Plum. The budgeting app allows you to make FCA regulated investments by rounding up your spare change.
The app also offers quirky challenges prompting you to save more of your money. For example, it could help you with a yearly challenge to save towards a goal. Instead of just saving, the app also offers help in terms of investing your money. You can choose between different investment plans to make your savings grow more interest. Please note that some of these come with a small fee.
Don’t forget to check your bank’s budgeting tools
You shouldn’t forget about your bank’s budgeting apps and tools. These are especially useful if you don’t have accounts with different banks and organisations.
Banks offer a wide range of tools these days from the ability to view your monthly spending by categories to automating your savings. For example, Barclays’ mobile banking app can give you an overview of where your money is going. HSBC's has a Balance After Bills feature that shows how much money you have left after bills. These can help you with budgeting by making it easier to understand where your money is going.
Budgeting apps are a fantastic way to boost your spending and improve your saving habits. The above apps can help with many particular needs. It's a good idea to look around before choosing your app. Don't forget to take advantage of the free apps and use trials to test out different apps.