Sometimes it can feel like your money just vanishes and your left at the end of the week with nothing for the important things or the nice things. If you’re left in this situation and wondering what you can do, look no further because to help you, we have here 10 apps to track spending and make sure you don’t get off the track.
1. Your Bank’s App
All the big 4 banks have apps to track spending and can help keep you on track. It’s great because it’s coming straight from the source. It helps you stay mindful of how much you are spending and on what. When heading to the grocery store check your app and spend accordingly. All apps are available through IOS (Apple) and Android through the Google Play app stores and they are free as well. It’s an easy and powerful way to track your spending.
Here are some links to learn more about each banks app:
- Commonwealth Bank of Australia (CBA)
- Australia and New Zealand Banking (ANZ)
- National Australia Bank (NAB)
Pocketbook is simple to use, with a minimal interface that helps track your spending so you don’t get off track and allows you to connect your bank account. The app will automatically categorise your spending so you know exactly where it’s all going. You can use their built in graphs and charts to see where all your money is going and check that it’s going to all the right places. It’s available in the IOS and Android app stores and it’s free, although some features can be unlocked by inviting friends or for a small donation.
- Connects to your bank account to automatically keep track of your spending.
- Automatically categorize your spending.
- Creates visual aids such as graphs and charts to see where your money is going.
TrackMySPEND is one of the free apps to track spending created by ASIC (Australian Securities & Investments Commission). It doesn’t connect to your bank account but instead relies on you to enter your spending as you go. TrackMySPEND allows you to keep track of your simple household spendings or special events such as weddings or other celebrations. So you to sync your data and use it on multiple devices.
- Export data to a CSV file (for Excel, or other financial software).
- Nominate a spending limit (per week, fortnight, month or year) and track your progress.
- Add ‘tags’ to categorise expenses and set spending limits for each category.
Goodbudget brings old school envelope budgeting into the 21st century. Each month you can take your income and separate it into virtual envelopes, so that everything is budgeted for and under control. Run out of money in one envelope? Then you are done for that month. You can even sync and share your data with other members of your family. Because its free for 20 envelopes, you can pay $6 a month for unlimited envelopes and other great features.
- Sync and share your budget and spending with others.
- Community support for any app related problems.
- Can even review your budget on your desktop as well.
If you’re after a seriously in depth budgeting app that will help you plan for the long term, then Wallet is for you. Featuring automatic bank updates, insightful reports, graphs, data and the ability to upload your loyalty or rewards cards to the app (so that you don’t have to heave around a heavy physical traditional wallet), it’s no wonder Wallet is getting bigger by the minute. The app is free but there are in app purchases you can make should you want even more budgeting power.
- Automatic bank updates.
- Insightful reports, graphs and data, so that you can analyze patterns in your spending.
- Sharing and syncing features.
Money Brilliant is an app that can not only connect to the big 4 banks, but also connects to smaller financial institutions. It can even connect to superannuation and investments. It has an inbuilt budget and bill payment manager as well. There is a free version and paid version for $9.90 a month.
- In built tools to help you work towards your financial goals.
- Helps you find better electricity and gas providers to you can save money.
- Money back guarantee, if they can’t save you money then you get your money back.
Monefy is a simple to use and easy to learn user interface. It’s similar to TrackMySPEND, you enter your expenses and categorise it. Then it displays a pie chart along with percentages to give you an overview of your budget so you don’t get off the track. It’s available for free in the IOS and Android app stores.
- Backup and sync to dropbox on any device.
- Easy user interface, perfect for the beginner.
- Handy widgets that can be used when out of the app.
MoneySoft is a popular app with financial advisors to track your spending. It offers all the same bells and whistles as Pocketbook, such as connectivity with your bank. Setup goals so you can work towards them and don’t get off the track. It also allows you to track the value of your assets and liabilities in real time. At $20 a month it is pretty pricey even for all the bells and whistles.
- Connectivity with your calendar to alert you when bills are due.
- Offer a desktop app so you are not connected solely through your phone.
- Uses high end security encryption so you know your information is safe.
Expensify is receipt tracking app. An apps to track spending and expenses and gets them ready for tax time. If you travel a lot for work this is a useful and simple app to use to track of your spending for reimbursements or tax time. It works by allowing you to take a photo of a receipt and then it scans for information in that photo including date, time, amount and other useful information. Then it exports that information into an excel file. Simple and free to use, there is no need to keep all those receipts.
- Automatically record, report, and submit expenses with realtime expense reports.
- User-friendly mobile and web apps.
- Global currency compatibility.
Raiz (formerly known as Acorns) takes the thought of the change jar to a new level. What it does is takes your purchases from everyday and then takes the rounded up amount left over and invests it into a portfolio. For example, if you spend $7.50 on a coffee and muffin at your local cafe Raiz takes that $0.50 and deposits it into the portfolio of your choice. Of course the money you get back depends on the market fluctuations but it’s a great idea to make some extra cash all while you track your spending. There are two different levels depending on the amount you have invested: $1.25 per month for accounts with a balance under $5,000 or 0.275% per year for accounts over $5,000.
- Allows you to choose different investment levels depending on your risk.
- Perfect for those that use their debit and credit cards often.
- Offers high level encryption and multi-level authentication.
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We wish you much success in managing your money with these apps or others.
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