10 Apps For Budgeting Your Money
Wouldn't it be brill to have some extra cash in 2018? Everybody wishes their money would go just a bit farther, and apps can help. Move into a better money situation by downloading one of the great apps available for managing or budgeting your money. There are lots of great budgeting money apps out there that can help you save more in 2018.
1) Money Dashboard
The first step towards managing your money better in the future is to figure out exactly where it's going now. Start this process with Money Dashboard. It's one of those free money budgeting apps that connects to your bank and credit accounts. As you spend money, the app lists the expenditure on the dashboard, categorises it and advises where to start cutting back. You can analyse where your money is going and use the budget planner to set limits.
Yolt is another free money budgeting app that can help you get on top of your finances in 2018. It gives you oversight of your bank accounts and credit accounts, and also pays your bills and subscriptions. Then it nudges you in the right direction by working up appropriate budgeting plans. You can trust this "how-to-budget money app" since it is licensed by the Dutch Central Bank recognised by the Financial Conduct Authority. Get it free in the App Store or Play Store.
Moneywiz is a great, flexible app that may be one of the best budget apps for couples. It tracks your finances and is useful when you have many bank accounts and different income streams. That flexibility makes it good for couples, and security is exceptional. MoneyWiz stores your data in the cloud, encrypted with a password and security questions. The Premium Service is free, but you'll pay a monthly fee for online banking and other upgrades.
Many budget in order to squirrel away money for a major purchase down the road. The Squirrel app can help with building up savings. You arrange for your salary to be deposited directly into a special Barclays Bank account, then Squirrel releases it into your current account when bills are due, plus sending you disposable income every week – for emergencies, no worries: you can access your money if you have to. You'll pay £3.99 a month for the service.
5) HSBC Beta App
If you only trust banks with your hard-earned money, consider the HSBC Beta app. This how-to-budget-money app lets you input details of your finances. The app has a Digital Coach tool that helps you analyse where your money is going, and it reports the total of your disposable income through payday, minus any upcoming bills. You can set savings rules, allowing the app to round up expenditures and send the extra to savings.
Couples have more complex finances than most singles, with multiple accounts, pensions, investments and even currencies. If this is you, try Banktivity, one of the best budget apps for couples. This app tracks all your many and varied accounts, supporting not just UK pounds but also international currencies. The basic service is expensive, and direct access (importing transactions from your banks) costs even more. But if your finances are complex, it is definitely worth a look.
Moneybox also invests your change and helps it grow into savings by rounding up everyday purchases according to your pre-set instructions. The extra, from as little as £1, is invested into a stocks and shares ISA. Download the app through Apple or Android, then link it with your debit card and set your savings perimeters. Test it out for three months for free. After that, you'll pay a £1 per month transaction fee plus a platform fee of 0.45 per cent. Since Moneybox is authorised by the FCA, your investments would be protected up to £50,000 if the company goes belly-up.
Worried about your food shopping bills? A cool app called MySupermarket shows the prices you recently paid for different items. It compares these to other supermarket prices and provides vouchers to help keep food prices down.
Chip is an automatic savings app with extras. It not only moves money into a savings account, but also works out what you can afford to save. It is designed to gather data about your normal spending habits from your online bank accounts, in order to calculate how much you can afford to save every few days without affecting your spending. It then sends this amount into a separate account held with Barclays Bank. You can cancel any transaction at any time, of course. Android and iOS users can download Chip for free.
Starting an investment portfolio can cost a lot, especially if you use a traditional financial adviser. Moneyfarm is an affordable wealth management service that helps you create and track an investment portfolio on the go. Open an investment account and start investing within 10 minutes of using Moneyfarm. Just provide information about how much risk you are willing to take, then your money is placed in one of six investment portfolios managed by Moneyfarm's investment committee. Forget minimum investment amounts. You can get in with just £1, although you'll need at least £1,500 to achieve diversification. The first £10,000 is free, but you will pay a 0.6 per cent charge on anything between £10,001 to £100,000, plus the underlying cost of the exchange-traded funds used to build the company's portfolio, around 0.25 per cent.