- April 3, 2020
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of RF Merchant Bank & Trust. Any investment advice or outcomes discussed within this article are only examples. Investors should do their own research and speak to a Certified Financial Planner about their unique circumstances before making any financial decisions.
Given the uncertainty surrounding the current Covid-19 situation, we are all closely watching what we are spending on. Unfortunately, some persons have already been financially impacted and are making major cutbacks. Others are trying to stay as liquid as possible as no one knows how long curfew and social distancing will last. Managing your finances isn’t an easy task under normal circumstances, let alone now. Luckily there are no shortages of new and improved budgeting apps bringing you a simple and reliable way to manage your money.
Here are my top 5 picks for budgeting apps in 2020.
Mint
Image Source: Forest Interactive
First on the list is Mint. As versatile as it is free, Mint is a useful budgeting app for those who are new to the world of personal finance. Without all of the fancy, complicated gimmicks of other similar apps, Mint is user friendly and is easy to navigate with a sleek design and overall has all of the things that newbies would need on their money managing journey. Unlike the other apps on this list, it can be used via web browser or mobile device, so it is easily accessed from anywhere. One of its main beneficial features is, helping you stay on track by allowing you to set financial goals within the app.
Wally
Image Source: wally.me
Another useful and popular budgeting app goes by the name Wally. This free app is available on both IOS and Android devices. One of the best things about this app is the safety features that it includes. It uses 128-Bit SSL and AES encryption to keep all of your data safe and secure which is all verified by Intuit and McAfee security softwares. As an additional bonus, you don’t have to give any access to your bank accounts, keeping sensitive banking information private as well. However, you do have to manually plug in your data that you wish to keep track of. Wally gives you complete control over what you put in and how you organize it with a good range of your basic budgeting features. Similarly, to Expensify, you can take photos of any receipts to keep for your records. Also, all currencies are available for use so if you are a frequent traveler this comes in handy.
Budget Wiz
Image Source: App Annie
Create income and expense budgets with Budget Wiz. With this simple, easy to use app, you can see what you spend and earn while being able to add transactions as you go. Since, Budget Wiz is specifically made for IOS devices there are a few extra perks included. For instance, you are able to sync budgets over multiple devices with iCloud, which makes it perfect for families who want to share a budget for the home. You can create unlimited budgets with or without recurring cycles. This app features easy to read pie charts that gives you a full breakdown of how your budget is doing that includes your income, expenses, savings and even cash flow tendencies. As an added bonus, Budget Wiz backs up and restores your information and is password protected so that any sensitive information can be kept safe.
Moneon
Image Source: Apk monk
By the makers of Clever Pumpkin comes Moneon. When you first open this budgeting app you are greeted with a simple interface with everything laid out in a clear and concise way. Similarly, to Mint, Moneon is perfect for persons who are just starting out in the finance world simply because it is so easy to navigate. This app gives you the opportunity to create unlimited budgets with a wide range of currencies to work with. Not only that, for those of you who are bilingual, you can change your language preferences to French, German, Spanish, Chinese and much more. IOS users will also get special added security with this app as it makes use of touch and Face ID, its password protected and automatically backs up your information so that nothing is lost.
Expensify
Image Source: use.expensify.com/mobile
Finally, this pick will come in handy when things start going back to normal. Are you an entrepreneur or have a team that’s constantly on the go? If so, then this next app is perfect for you. Perfect for managing all of your funds on the go, Expensify allows you to track and maintain records of your travel and expenses while saving you the headache of converting currencies by doing it for you. Expensify allows you to take photos of your receipts so that it can record your expenses in real-time, so there’s no need input your data manually. It also features GPS technology so if you’re going on a business trip, you can track and record your miles, (great for if you’re a frequent flyer). As an added bonus, you can use expensify via your mobile device or PC and is compatible with both IOS and Android devices.
Which one of these best suits your budgeting needs? Start your financial journey off on the right foot with one of these budgeting apps today!
- Jade
Jade Bethel is the Records Management Assistant at RF and a freelance writer/media journalist. She has her Bachelors in Media Journalism and Mass Communications, soon to pursue a higher level education with a Masters degree. For questions or comments, connect with Jade on Instagram @jay_deshae or email: jade.bethel@hotmail.com.