Author: Aries Smith
How do you feel when you have less money than you expected? Horrible, I guess.
Well, not tracking your expenses can lead to budgeting problems. Worst, you will always get tempted and troubled with impulse buying.
Luckily for you, you can avoid overspending your money with expense applications. Check out the list below to pick the one that suits your need.
Simplifi is not a free expense tracker app. The good news is that it provides a 30-day free trial for new users. That way, you can figure out if it’s worth the money to use the tracker or not.
The app is best for tracking expenses even in multiple categories.
Compared to standard budget apps, Simplifi has an extended feature of tracking expenses, and that includes a detailed breakdown of revenue and expenditure.
The app can connect all your investment accounts, credit cards, and bank accounts. Thus, you can have a full overview and report of your finances — it automatically organizes everything into categories for a neat report.
Pros of Simplifi
- Connect all data about your finances
- Reminds about monthly bill payments
- Help create a spending plan and saving goals
Cons of Simplifi
- There is no free service after the free trial (you must subscribe)
- Simplifi can’t help with checking your credit score
- It is hard to import data to the app
Xero is the ideal expense tracker app for small business owners who want a convenient way to keep a secure financial management record. It will be great to consider this option if you are a business owner, self-employed, or freelancer.
The app can seamlessly work with different apps for payments and payroll. Aside from that, it can capture receipts from emails and photos.
Pros of Xero
- Allows unlimited users
- Cost-effective with a 30-day free trial
- Offers help in managing personal expenses with mobile review
- Accessible to any device connected to the Internet
- Fast and easy integration with third-party apps and plugins
Cons of Xero
- It might take time to learn how to use Xero
- Consistent upgrades that can make work slower
- Have poor customer service sometimes
If you are usually late on your bill payments, you need to try the Mint App. This app can be a good option for budget-conscious people who don’t want to spend on an expense tracker app.
Even with the free version that supports ad displays, Mint can offer a comprehensive service tracking all of your expenses.
The application can track expenses across your investment accounts, credit cards, and even multiple banks. As for spending, you don’t have to struggle with it because the app automatically categorizes it. However, you need to check your expenses and change them manually. Additionally, you can monitor your credit score with the application.
Pros of Mint
- Calculates net worth
- Easy to use
- Can sync to diverse financial accounts
- Mint has a free version
Cons of Mint
- Mint takes time to set up
- The ads on the free version can be distracting
- Vulnerable to Internet connection issues
- Might assign categories incorrectly
EveryDollar is meant for anyone who wants to achieve a long-term financial goal by tracking expenses.
While you need to pay for the service, you can try it out for 15days. In short, it is for financially savvy people.
For the application to work excellently, you need to input your financial details to see an overview of your expenses and track them well.
Pros of EveryDollar
- Can divide every transaction into different categories for a clearer view of expenses
- Syncs between multiple users
- Easily tracks expenses and budget your money
Cons of EveryDollar
- Manual input of every transaction can be a hassle
- It can be pricey for its convenience
- EveryDollar does not help in tracking investments
Since there are a lot of expense tracker apps you can take advantage of, it is not wise to stay in the traditional way of budgeting. Hopefully, you can find yours from the above list. Remember to choose based on your needs and preferences to enjoy convenience in tracking your expenses using an app.