It is not easy to manage your finances, especially if you are one of those who often spend too much. You can only regulate your spending habits by knowing what you spend your money on and your budget. One solution to personal finance management is the use of finance applications.

Personal finance apps come with various features and functions, including subscription tracking and the due dates of bills. You can link the app to your bank account and monitor how you spend. You may also know which category of expenses eats a lot of your money, track the payment of pending bills, and monitor your credit score and collection of investments.

Consequently, below are some of the best apps that, as a finance enthusiast, you can download and use on your smartphone (iOS and Android).

1. Mint

It is one of the best overall because it has extensive features. Mint allows connection to your credit/debit cards. Once done, the application examines and classifies all transactions. You can see your expenses.

Mint also provides for the creation of a budget that you can easily follow.

The personal finance app allows credit score access at no cost. Even more importantly, you will receive reasons or factors leading to your current credit health score.

Advantages

• Available for free
• It offers a simple solution for bill tracking
• There is a categorization of expenses

Disadvantages

• The ads can be frustrating

2.YNAB

YNAB (You Need a Budget), as the app name suggests, offers you the possibility of building a budget you can stick with to settle a debt. The app has many valuable tools for reporting and budgeting to solve your debt.

The personal finance app can collect checking account transactions and categorize them to understand your spending habits.

Furthermore, YNAB enables budget categories to be adjusted to maintain a balanced budget, particularly if you fortuitously overspend. The app reports on your spending progress every month and assists you in identifying areas of spending requiring improvement.

Advantages

• You can use the free trial version first to test the app
• Provision of comprehensive reports about spending and budgeting

Disadvantages

• The monthly cost of the premium plan is relatively costly
• It has a lot of features that can be too much for a new user

3. Expensify

Expensify promotes effortless tracking of receipts and management of expenses. A user of the app is required to take photos of receipts and upload them. The application is capable of transcribing the receipt details and categorizing them automatically.

Other features of the personal finance app include credit card import, direct deposit reimbursement, and connection with other platforms for managing finances like QuickBooks.

Advantages

• Encourages costs savings
• Allows excellent integration with other apps and financial institutions
• Automatic reporting and monitoring of expenses

Disadvantages

• The billing practices may be annoying
• May violate privacy policy and deliver information unrelated to the product.

4. Mobills

The personal finance app organizes expenses into groups, making it possible for spending tracking compared to the budget. You can see how much money is left to spend in each category and thus adjust the rest of your spending accordingly.

For example, if you set that you have to use a certain amount of money within a month for online gambling, Mobills helps you not overspend. In such an instance, you may need to familiarize yourself with Bonuses on Gambleonline so that you also use available bonus offers and promotions.

Mobills also comes with a planning application, including interactive, highly visual charts for analyzing your general financial life. The information you receive helps you make proper arrangements to achieve your financial goals. Moreover, you can link the application to your credit card/s. Furthermore, you can incorporate bills and their due dates to assist you in tracking the payment date.

Advantages

• There is the categorization of spending and expenses
• There is valuable, highly visual information
• Only a subscription plan is available
• Bank sync possible

Disadvantages

• The free application version comes with limited functionalities. You need a paid subscription to enjoy all the features.
• No free trial

5. Personal Capital

The app strives to offer a comprehensive method of managing your money by providing investment and budgeting tools. You can command your spending, wealth, and investments. Tracking your investment portfolio is possible by looking at the asset class and account.

The intelligence capability of Persona Capital makes it easy to unearth hidden costs and opportunities for diversifying your investments and management of risk. Since you can compare your portfolio to the highest market standards, you can then determine whether or not you can achieve your set investment goals.

Advantages

• There is access to qualified financial experts.
• There is a focus on building and monitoring investments

Disadvantages

• The costs of managing your wealth are relatively costly
• It is not suitable for people looking for a simple-to-use tool for budgeting
• Money management and investment apps are an excellent way to prevent or eliminate debts and attain your fiscal goals. That is possible as you become more aware of and disciplined in spending.