#FinancialBytes: 5 apps to help homemakers manage finances better
Financial management, planning, and budgeting are essential skills homemakers should have in order to run their household smoothly. Nowadays, there are mobile apps for almost every task, including financial management. These apps can help one in managing their household budget, monitoring and controlling the expenses, analyze spending, etc. Here are some popular apps homemakers can use for financial management.
Mint is one of the best finance management, budgeting apps
Mint (Android, iOS) is one of the most popular apps that offers a range of features to manage finances with ease. It allows users to add their bank account to manage their income and help them set their budget, keep a track on spending by category, get bill pay reminders, and manage payments, etc. It also sends alerts users when they go over budget.
Money Lover helps users to control their finances
Money Lover is another popular app with money management and expense-tracking features. It offers features like daily expense tracking, budget planning, spending habit analysis, payment reminders, multi-device syncing, inbuilt calculator, debt and loan tracker, etc. It provides financial reports on user's spending, income by date or group. It is available for Android, iOS, and Windows platforms; users can use it on the web, too.
Goodbudget helps in creating budgets, controlling expenses
Goodbudget app is great for money management, expense tracking, and home budget planning. It is available for web, Android, and iOS. It works on envelope budgeting system - dividing money or creating separate envelopes for different monthly expenses and spending money for a particular task only from its corresponding envelope. It allows users to create envelopes and sync budgets across family members' devices.
Monito Expense Manager has a user-friendly interface
Monito Expense Manager is one of the best budgeting and expense planning apps in India. Users can view category-wise transactions and add receipts/photos too. It offers graphs to analyze balances and expenses, option to add custom categories, automatic back up of data to user's Google Drive for easy restoration, etc. It is a free, ad-free app; it is currently available only for Android.
YNAB is another a useful app for budgeting
YNAB (You Need A Budget) app is a unique app that allows users to work on a budget based on their finances. Features offered include bank account/transaction syncing, spending reports, and budget plan sharing with their partners among others. YNAB app is available for the web, Android, iPhone, iPad, Apple Watch, and Alexa. It is a paid service but offers a 34-day free trial.