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Does money disappear too fast in your hands? Are you starting to think that you may be spending more money than you earn? Or are you just looking to be more organized in your finances? Getting an expense tracker app could be the solution that you're looking for.
The software market has so many nuanced apps that choosing the one that works best for you is not an easy task. This is why we took the time to do the research and fell in love with Mint. It allows you to link multiple bank accounts and to build a budget either manually or automatically. If you want to learn about our other nine amazing picks keep reading our top 10. And don't forget to check out our buying guide to make sure you know what to look for when choosing.
mybest US' editing team consists of experienced members who have backgrounds in writing, editing, translation, and more. We are dedicated to researching what makes a product or service the best to users in the US in order to create top-quality articles. From skincare, to kitchen appliances, and to DIY supplies, our mission is to find the best ones for you.
Table of Contents
Spending money is a very personal thing. Everyone’s expenses are the result of a lot of individual decisions depending on each person’s context and situation. Every person has a different approach to their finances and this is why it is important to choose an app that goes the best with your spending style.
Most of these apps have the possibility of linking your financial accounts to them. Some have the option of doing manual entries. Which one is better for you depends on your preferred payment methods, the information you want to share, and the level of accountability you want to have.
Some apps have access to all your bank accounts, credit cards, credit score, or anything that may be helpful to show you a full picture of your expenses. However, some people feel like having an app adding their expenses automatically would make them lose track of how much money they’ve spent.
An app that has the possibility of entering information manually will help you to be more aware of the money you’ve spent. This is also a great option for those who are scared of sharing too much financial information with an app. People who use a lot of cash can also benefit from this type of app.
On the other hand, if you think you would forget to enter the information into the app, select one that does it for you. You can give access to your accounts and your cards and the app will automatically save all your monetary transactions.
These types of applications usually have extra features that will give you a better idea of your economic situation. Some of them also track your investments or even show you your credit score.
Expense tracker apps can be divided into two big groups: the ones that divide your expenses by categories and the ones that keep track of the money outflow.
The way these apps work is by setting spending limits by category. This way you can learn more about your habits and your major spending triggers. After you’re more familiar with the way you spend your money, you can try the outflow method and decide which one goes better for you.
If you already have an idea of how much you usually spend on what, you can just keep track of the amount of money that comes in and out of your account. These types of apps deduct your recurring expenses and tell you how much you can spend at a given time. This way you can keep track of your expenses more quickly and effectively.
Some apps offer tools that might be very helpful to organize your finances. You can choose one that captures and organizes your receipts and stores them in a cloud if you want to have quick access to them.
Or you can choose one that uses your information to create and keep track of invoices if that’s the way you usually get your income. Another important tool is the ability to run reports and to offer insight and analytics. This way you can make decisions based on how well you’re doing financially.
Perhaps you are not the only one making choices about some expenses. Some apps allow you to sync your phone with your partner’s so you are both on the same page regarding your expenses. We've included one in our list, but if you're interested in more, we also have a top 10 list for couple-oriented apps linked below!
Products | Image | Click to purchase | Key features | |
---|---|---|---|---|
1 | Intuit Mint | A Free App That Keeps All Your Info Together | ||
2 | BudgetBakers Wallet | An App for Group Goals | ||
3 | You Need a Budget YNAB | Track Expenses and Reach Your Financial Goals | ||
4 | PocketGuard PocketGuard | An App Especially for Overspenders | ||
5 | MH Riley Spending Tracker | A Straightforward App So You Can Get on With Life | ||
6 | Personal Capital Corporation Personal Capital | Build Wealth With the Full Picture of Your Finances | ||
7 | Simple Finance Simple - Mobile Banking | An App That Replaces Your Checking Account | ||
8 | Intuit QuickBooks Online Accounting | A Great Option for Business Owners and the Self-Employed | ||
9 | WalletIQ Honeydue | Keep Track of Joint Finances and Household Budgets | ||
10 | Hello Digit Digit | A Spending Tracker That Helps You Save |
Mint allows you to link your bank, credit, and investment accounts so you have everything in the same place. It has a budget feature that gives you the choice of building it manually or automatically based on your previous expenses. It offers free access to your credit score and tips to maintain a healthy one.
Some reviewers complained of having trouble linking some of their accounts and said that the two-step verification process doesn’t always work.
Other reviewers, however, said it has exceeded their expectations and that having all the info in one place has been extremely helpful to save money. They also mentioned that the credit tips have helped them to be aware of their score and set goals to increase it.
This comprehensive app keeps all your banking information in the same place, updates your balance in real-time, allows you to create a budget for specific goals, and gives you the option to enter information automatically and manually.
Another great feature of this app is that you can share select accounts with other people. This is great if you have a joint account with your significant other, or if you are saving for a mutual goal with friends or family.
Though some reviewers don’t like that using the budget categories is an extensive and tiring process, this app has a huge amount of five-star reviews for the number of useful features it has. Reviewers say that keeping track of their finances and saving money had never been so easy!
This app sets goals for every dollar you have to help you break the paycheck-to-paycheck cycle. It offers syncing for multiple accounts, visual expense reports, and access to your information in real time. YNAB also has many educational tools available such as seminars and workshops.
Some reviewers mention that it's hard to add or customize your categories. They say that there are some expenses such as utility bills that they are not sure where to put.
But many say that it has changed the way they think about budgeting and money and now they notice where their money goes. Knowing how much they have available for necessities and how much they have left for non-essentials helped them to stop stressing about money.
This app uses an algorithm to track your income, your expenses, and your saving goals to create daily spending limits. It offers reminders for when your bills are due and provides ways to lower your payments. It has a feature that allows you to set a goal and put that money aside in an FDIC-insured bank account.
Some users have complained of not being able to link a particular account or being unable to add new categories. However, self-identified not-good-with-money people said that they finally know how much money they have available for different kinds of expenses, which allows them to stay within their budget.
This app offers all the basic features such as linking accounts, income and expense categories, and reports, all presented in a very user-friendly way. It will keep track of your expenses and allow you to set limits if you wish to do so. If you spend less than you expected, it gives you the ability to carry that money to the next cycle.
Though most reviewers like this app, some of them mention that they wish the design was a little more appealing. They also wish they were able to add subcategories. Most users love how easy it is to enter information. They also like being able to track debit and credit separately.
This app syncs your bank and credit accounts with your investment accounts to show you a full picture of your finances. It allows you to track your income and expenses but doesn’t create a budget for you. You can use the dashboards to see your net worth and create retirement and savings goals.
The biggest complaint about this app was that it’s difficult to link accounts from financial institutions other than the bigger ones.
But reviewers say that in the short term, it does a good job tracking expenses allowing you to stay within budget. In the long term, it is great at showing how are your financial assets are performing and offering tips for improvement.
Simple acts as an online bank that also keeps track of your expenses and income. It tells you whether you’re on track to stick to your budget or if you need to make any adjustments. It can also help you save by putting aside a few cents each time you spend.
Users say having to deposit money is either too complicated or that it takes a long time to process. Other reviewers say that this e-bank helped them be able to stick to a budget because they don’t have to move their money around. They also love that it’s user-friendly and that there are no hidden micro fees.
QuickBooks Online not only offers expense tracking but it also has features to add payments and create invoices. Another great feature is its mileage calculator, which uses your GPS to mark business or personal trips.
Some reviewers have been frustrated with this app because it can crash or is buggy at times. However, other users have found it extremely helpful to manage their business accounting. They also love how they can have all their clients’ information in the same place.
Honeydue will give you the option of keeping some accounts private but is designed to work for those who share expenses with a partner. It also has features to add custom categories and to remind you when bills should be paid.
Some reviewers say that setting spending limits works fine but they want more features for making an actual budget. Other reviewers like that it offers transparency regarding the money that they and their partners are spending. They mention that now they argue less over little things and their relationships have improved!
This app records all your transactions and automatically analyzes your spending habits in the background so you don’t even have to think about it. It allocates money into a Digit savings account to help you achieve your financial goals.
Some users don’t like that their balance is usually one day behind. Other reviewers, however, are very satisfied with the amount of money they have saved thanks to Digit. They are also very pleased with being able to put some money aside for whatever goal they have in mind.
You already use your phone for communication and entertainment, so why not put it to work for you to improve your life? Check out these apps that can change your habits for the better!
No. 1: Intuit|Mint
No. 2: BudgetBakers|Wallet
No. 3: You Need a Budget|YNAB
No. 4: PocketGuard|PocketGuard
No. 5: MH Riley|Spending Tracker
View Full RankingThe descriptions of each product are referenced from content available on manufacturer, brand, and e-commerce sites.
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