When talking about budgeting it is difficult to discuss this without also discussing the various apps that make budgeting, and organization easier? Budgeting and Spending apps aid in managing your budget while on the go. Each app has different features and benefits, and a search within the Apple Store or Google Play can leave you easily overwhelmed. Personally, my top apps are EveryDollar, GoodBudget, Pennies, and Simple. At different points in my life, these applications have assisted me in managing my expenses and ensuring my bills are paid. Today, I am going to share with you the best features and uses of each app.
EveryDollar (everydollar.com) is a budget app that was developed by Dave Ramsey (Ramsey Solutions) that helps you to create a monthly budget. It is a good app for someone who has never built a budget. The app walks you through the developing of a budget including debt, sinking funds, and savings. After the budget is created, you can enter transactions within each created category ensure that you maintain your budget. Additionally, there is a Baby Step portion allows you to see how you are progressing through Ramsey’s seven steps (baby steps). EveryDollar Plus ($99 annually) allows you to connect your bank account for easier expense tracking and is available on iOS, Android, and web-based.
Pennies (getpennies.com) is an app that allows the management of budgets and spending. This app allows you to set daily targets, flexible budgets, and spending habits. You can track all of your monthly expenses and set a budget or only track specific information. Creating the starting amount for a specific category allows you to enter transactions. The app is basically a smart bank ledger. Pennies is $4.99 and is available for iOS only.
GoodBudget (goodbudget.com) is a budget tracker that uses the envelope method to log and allocate finances. Money is placed within digital envelopes (categories) based on wants and needs, and that money is “spend” from those envelopes. GoodBudget is a free plan (with limited envelopes) and a paid plan ($5.00 a month) with unlimited envelopes. GoodBudget is amazing if you have bills that you tend to forget about, or if you have expense where you overspend. It is available for iOS, Android, and web-based. One major plus with GoodBudget is that multiple individuals can use the app to view and manage the envelopes. I used GoodBudget religiously until I discovered Simple.
Simple (simple.com) is a bank account with amazing budgeting features built in the app. The app tracks your income, helps you save for goals, keeps you on track of your budget for Safe-to-Spend, create savings goals, and manages monthly expenses. Expenses allow you to automate your recurring bills, and ensure that the money for those bills is tucked away. Goals allow you to have the funds you need for vacations, emergency savings, etc when you need it. Just set the goal up and simple automatically saves your money. Simple offers various other functionalities to help you address and manage your money. It is available on iOS, Android, and web-based.
I continue to use EveryDollar and Simple on a daily basis. EveryDollar is used to make the master monthly budget and to track debt while Simple is my bank account that is also used for the envelope system, and paying the bills using the half payment method. Pennies is used occasionally for rare occasions like vacations, and attending places were spending money occurs frequently (fairs, amusement parks, etc). What apps do you use to organize and keep track of your expenses? Let me know in the comment section. I would love to hear about them.