Top 2 Budgeting Apps Available For Managing Your Budget

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If you are having trouble controlling your spending and keeping your money under control, a budgeting app could be the answer. There are a plethora of budgeting applications like money management, personal finance, and budgeting applications out there So, how will you know which is the right one for you? Well, what you need to do is to find which ones are built with the most users in mind and also have exclusive options for people with special requirements.

What do these Apps do?

These apps help you in understanding the flow of your income and expenditures and facilitate your complete control over your finances. They can connect to your bank account and credit cards to download transactions and categorize your spending patterns according to the budget you set. The popular ones are inexpensive, user-friendly, and include features that are tailored to your budgeting approach.

Mint

If you want a free budgeting app to connect all your monetary accounts in one digital environment, then mint should be your choice. Not only does it give you a high-level snapshot of your financial health, but also total control of your spending patterns. The app can be used to keep track of their spending and savings, in addition to setting and tracking budget objectives

Users can link their different types of accounts like bank accounts, money management accounts, retirement and investment accounts, credit cards, and other financial accounts with Mint. It monitors all of your monthly expenses and sends timely alerts so that you don’t miss your payments.

It can also record your transactions and classify them into pre-defined budget classifications after you connect your financial accounts, making it easier to track. In addition to Mint's predefined categories, users can also create their own custom categories to suit their needs.

Data Safety With Mint

The best advantage is, it uses the latest security methods, like robust encryption, multi-factor authentication, and other security procedures, to guard user information. A four-digit security code for mobile devices helps in protecting your Mint account

Users can manage the accessibility to mobile, from the account itself. For the protection of financial data, you can switch off mobile access.  Or in case your device went missing or was stolen, you can deactivate your account from your online account.

You Need a Budget

If you don’t mind paying a bit extra to get access to a budget app with advanced features, then this should be your choice. How is it different from popular apps? While lots of free apps only show your spendings, You Need a Budget targets a different concept called zero-based budgeting. It helps in allocating all of your money to be used completely. It takes care of your expenses, debt, and savings.

Four Pillars

Pillar 1 : Every single denomination of money is given a job.

Pillar 2: Be truthful to your expenses and accept it

Pillar 3: Make room for adjustments in case you’ve overspent a month.

Pillar4: Develop Money management as a habit

These pillars help you have better control of your finances and make your life easy and stress-free. The steps involved in this are

·       Establish objectives. To improve how you manage money, you'll first develop a strategy for your spending, savings, and debt repayment.

·       Connect your bank and credit card accounts. You can better track your money by linking your bank account, credit cards, mortgages, and other debts.

·       Make a financial plan. You can create your own categories and decide how much money you wish to spend on each one.

·       Make plans for future transactions. Make a budget for future expenses so you know how your next salary will be spent.

Obtain copies of your bills and financial documents. This will help you track all of your costs, including recurring and one-time payments. Examining previous credit card and bank statements may also be beneficial. It will take some time to get everything set up, but once you do, you will be able to utilize the app successfully.

Conclusion

Today, we have covered two budgeting apps from both free and paid categories. The budgeting apps are not limited to these two apps.  It is beneficial to use them for the financial sustenance of your life.

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