Managing your money has never been easier.
It’s time to make a habit of paying attention to where your money goes each month. Once you do that, you can see trends and start planning accordingly.
For example, are you spending too much on clothes or coffee? Can you afford that vacation you’ve been dreaming about? Are you ready to buy a home? Are you giving to causes you find meaningful?
Tracking your spending is a solid way to achieve your financial goals. Here are three spending trackers to make the process a whole lot easier.
Operating system: Android, iOS, Windows
Cost: Free ($3.99 for Pro Upgrade)
Spending Tracker allows you to record your spending to the level of detail that’s right for you. You can set it to simply show if you’re spending more than you earn, or you can see exactly where all your money is going, complete with category breakdowns.
If you need more accountability, use “budget mode.” This allows you to set spending limits and see when you’re nearing (or have passed) them. In addition, you choose the preferred time period to track — weekly, monthly, or yearly.
If you upgrade to the Pro version, you get the ability to save time by setting up recurring payments. You can also export, backup, and restore your data.
Operating system: iOS (Wally) & Android (Wally+)
Wally was designed to be a simple and user-friendly application for organizing and understanding your finances. Track your income, spending, and savings. Set goals and have the tools at your fingertips to reach them. This app allows you to store photos of your receipts, save time inputting expenses by utilizing location tracking, and receive notifications when bills are due or you’ve reached a goal.
It’s highly adaptable to your personal needs. In addition, Wally has been designed for global use, so it recognizes every imaginable currency. Another plus, it contains no advertisements — a rarity among free apps.
Operating systems: Android, iOS
Level Money calculates how much you have left in discretionary funds by linking your bank information, applying your savings goals, and accounting for your known and recurring expenses (such as rent, groceries, and utility bills).
With this app, you can see whatever information is most important to you, like your total credit card balance, and compare your spending by category to previous months. Plus, Level Money’s bill and balance predictions let you know how much of your money is already spoken for. Compiling all of your linked financial data, the app gives you an up-to-the-minute limit for your daily, weekly, and monthly spending. It can also create a schedule for long-term goals, such as saving for a big purchase or paying off a debt.
No matter which app you choose, remember, how you track your spending is not the most important thing. What is most important is that you stay abreast of your financial picture so you can act accordingly.