4 Ways to Manage Your Financial Planning With Budgeting Apps
3 min. read
By: FCU Team
If you’re looking to start your budgeting journey, a pen and paper just won’t cut it nowadays. Life can get hectic, and an on-the-go lifestyle calls for a method that can keep up with your busy schedule. That’s why budgeting apps have revolutionized the way we view our finances.
With hundreds of budgeting tools out there, it can be hard to find the right fit for you. Whether you’re looking for a simple app that monitors your everyday spending or one that provides you with the resources to help build your money management skills, we’ve got you covered. Check out these four budgeting tools and how they can seamlessly integrate into your everyday life.
An easy-to-use budgeting tool, Spendee allows users to track money that comes in and goes out. In other words, managing your money through an app doesn’t always mean a complex interface. While this app doesn’t offer premium features or high-tech tools, it does offer a minimalistic approach for easy tracking. Users can organize their expenses by the preset categories including bills, travel, groceries and hobbies. Plus, Spendee doesn’t rely on third parties, so all of your financial data remains secure on your mobile device.
If you’re looking for a budgeting tool for first-timers, consider Splendee for its simplicity. Then, once you advance your budgeting skills and want to take it elsewhere, the app offers limited data export to an Excel file, so you change up your method without losing your progress. if you’re looking for a tool that covers the basics, Spendee is your match.
If you’re an over spender who has trouble sticking to a budget, PocketGuard might be right for you. This budgeting tool allows you to create custom budgets and track everyday expenses all at your fingertips. For those who are visually driven, PocketGuard allows you to track your progress and see how close you are to hitting your next financial goal. Set unlimited financial goals and activate “rules” to help keep you on track.
Link all your bank accounts to the app to keep a close eye on your money and get a breakdown of your expenses, earnings, debt payments and net worth. Then use it for a few months and let the algorithm help you with the rest. PocketGuard can identify your higher areas of spending and give you tips to improve your savings. Even more, you’ll always stay up to date on your monthly bills with this app’s reminder tool, so you’ll never miss a payment again. While this budgeting app has free accounts available, you can get access to premium features at the price of a subscription for either $3.99 per month or $34.99 per year.
If you’re more old school and like to stick to the tried and true, Mvelope is a budgeting app that puts a digital twist on a traditional saving method. Based on the idea of envelope budgeting, this app allows you to divide your money into separate “envelopes” based on spending categories. Once an envelope empties, you’ve maxed out on your spending for that category until the following month.
With most transactions happening digitally nowadays, Mvelope allows you to mirror the same cash method but on your mobile device. Connect your accounts and track your balance for each category to find out where you’re spending the most. This can help you cut back on mindless spending and put more toward debt payments or savings. This budgeting app is available for a 60-day free trial before the price jumps. Choose between Basic ($6.00 per month), Premier ($9.95 per month), or Plus ($19.00 per month).
Last but certainly not least, we have FCU Anywhere, our online and mobile banking app. This app is exclusive to Florida Credit Union members and offers free premium features, so you can get the perks of a budgeting tool without tacking on another subscription fee. FCU Anywhere not only houses all of your finances under one roof, but also includes the financial wellness widget, which allows you to budget all, or selected, accounts. See how you’re spending by category and even get a breakdown of your transactions. This budgeting tool offers an easy-to-use interface and organizes your finances on one main page. Plus, you can view your recurring expenses, so you can plan your budget accordingly.
Ready to reach your savings goals? Florida Credit Union is your financial partner to help get you there. Being a member means free access to budgeting tools, financial resources and simple mobile banking. Find out what it means to be a member by visiting your local branch today.