How do you manage your money and keep track of your finances? This is knowledge that most people do not have these days. It is quite important to know how to manage, budget, and keep track of your money for everyday use. With the best money management apps, this becomes easy. But how do you know which apps to make use of?
Knowing the right apps to use for money management is quite difficult for most people, but if you’ve been searching for one, then you’re in the right place. I’ll be discussing the best finance and money budgeting apps that’ll help you to save money, budget for your wants and needs, and also keep track of your spending.
Seeing as there are a lot of apps on the internet that promise to do this, you do not want to install the wrong one that may end up taking away your money. Fraudsters are on the rise, therefore, it’s quite important to use only reliable and credible money management apps. In this article on Naijaknowhow, I’ve taken my time to review the best apps that’ll help you to save money and keep track of your finances.
List of the Top Money Management Apps for Android and iOS
If you want to be able to manage, save and budget your money using your smartphone, below is a list of apps that’ll help you with that, but before you start reading or installing the apps, make sure you read our disclaimer page to understand our position regarding this listicle.
1. Money Manager
Money Manager app makes managing personal finances as easy as pie on mobile. Now you can easily record your personal and business financial transactions, generate spending reports, review your daily, weekly and monthly financial data, and manage your assets with Money Manager’s spending tracker and budget planner.
Money Manager app facilitates efficient asset management and accounting. It does not just record the money coming in and out of your account but deposits your money into your account as soon as your income is input and draws money from your account as soon as your expense is input. This makes it one of the best money management apps for mobile.
Pros:
- Easy mobile money management
- Records personal and business transactions
- Generates spending reports
- Reviews daily, weekly, and monthly data
- Manages assets with spending tracker and budget planner
- Facilitates efficient asset management and accounting
- Deposits income and draws expenses in real-time
Cons:
- Limited customization options for categories
- May require manual entry for some transactions
- No bill pay integration (may require separate app)
- Data security and privacy concerns may exist
- Premium features might be expensive for some users
2. Monefy
Tracking daily purchases, bills, and everything else you spend money on has never been so quick and enjoyable. Monefy is more than a money tracker, it’s also one of the best savings apps to help you manage your money. With this app, you can keep track of your expenses and compare them to your monthly income with the budget planner.
With Monefy, your financial organizer and finance tracker, it’s simple. Each time you buy a coffee, pay a bill or make a daily purchase, you only need to add each expense you have. Using this app, you only need to add records each time you make a purchase. It’s done in one click, so you don’t need to fill in anything except the amount.
Pros:
- Track expenses with one-click recording.
- Compare spending to income for informed decisions.
- No need to fill in unnecessary information.
- Track expenses across currencies.
- Access data across multiple devices.
Cons:
- May lack advanced features for complex budgeting.
- Possibly not suitable for tracking long-term financial goals.
- Limited reporting capabilities.
3. Wallet
Wallet is a market-leading personal finance manager, built to help you save money, plan for the future, and see all your finances in one place. With Wallet you can track your daily spending automatically with bank synchronization, dive into weekly reports and charts, plan your shopping, and share specific features and data with loved ones.
Wallet is designed to be your personal manager which helps you get your finances under control from day 1, giving you continuous insight into your financial situation and helping you stay in control for the long term. It’s your personal expense report. Wallet is one of the best money management apps for long-term use on smartphones.
Pros:
- Tracks daily spending automatically
- Weekly reports and charts for spending analysis
- Planning tools for shopping
- Share specific features & data with loved ones
- Helps gain insight into your financial situation
- Long-term financial management
Cons:
- Requires bank account synchronization (privacy concern for some)
- May not give full reports and charts
- Sharing features could lead to overspending pressure
- App design might feel overwhelming or cluttered
4. mExpense
Managing your money has never been easier! With the mExpense app, you can track all your cash flows, whether it is your savings you are worried about or your expenses. Whether you want to develop a monthly budget planner or you simply want to monitor the way you are spending to check if you are living out of your means.
This app helps you to deal with all your finance-related hassles simply and intuitively. Tracking your expenses and making sure that you know what you spend and how you spend it is a true delight. It’s a necessary thing to do and one that will bring you extraordinary results. With the help of mExpense analytics, and reports you can explore all expenses with ease.
Pros:
- Tracks all cash flows.
- Helps budget and track progress.
- Monitors spending and identifies areas to cut back.
- Analyzes spending habits and helps improve.
- Generates reports for tracking and decision-making.
Cons:
- It may require paid subscription.
- Not suitable for those who aren’t tech-savvy.
- Lack features like tracking investments or debt.
5. Mobills
With Mobills you take control of your finances in just a few minutes and get financial peace of mind for the whole month. Mobills is a budget planner app that allows you to create a custom monthly budget to save money. Using the Mobills app, you can manage your money, track spending, and achieve your financial goals all in one place.
Mobills app has an intuitive and easy-to-use interface so that you can track your finances without trouble. Using this budget planner and bill reminder will keep you out of debt and save you more money. Mobills marks a spot as one of the best money management apps to use on mobile. With Mobills you can manage all your credit cards in one place.
Pros:
- Manage finances, track spending, achieve financial goals.
- Get financial peace of mind.
- Create custom monthly budgets.
- Track progress and stay organized.
- Manage debt and multiple accounts.
Cons:
- The app may pose security concerns.
- It has limited features for complex finances.
- Mediocre customer support.
6. Goodbudget
Goodbudget app is a money manager and expense tracker that’s great for home budget planning. This personal finance manager is a virtual update on your envelope system. It is a proactive budget planner that helps you stay on top of your bills and finances. Built for easy, real-time tracking, you can sync this app across all your devices and its web platform.
Goodbudget app allows you to share your budget with your budgeting partners. You can keep everyone on the same page with household finances. Using this app, you can easily know how to modify your budget after analyzing reports to save more money for the future. It provides income and spending reports to help you control your spending habits.
Pros:
- Easy to manage and visualize your budget.
- Helps you stay on top of bills and finances.
- Real-time tracking across all devices.
- Keep everyone on the same page with household finances.
- Analyze spending habits and save more money.
Cons:
- Requires subscription for full features.
- Transactions need to be entered manually.
- May lack advanced features found in other money management apps.
7. AndroMoney
Pros:
- Manage multiple accounts and currencies
- Track balances and budgets
- Clean interface, easy to use
- Data backup and password protection
- Customizable categories, charts, and graphs
Cons:
- Free version has ads.
- Limited customization and reporting.
- May not be suitable for large businesses.
8. Financial Calculators
Pros:
- It has a wide variety of calculators
- Covers various financial scenarios
- Includes ROI calculator
- Empowers informed financial decisions
- Guides users away from poor choices
Cons:
- Not a money manager
- May be overwhelming for some users
- Requires basic financial understanding
Conclusion
Money management is important especially if you’re a salary earner or a business person. If you want access to a better finance management system using your smartphone, then you should make use of the money management apps in this listicle. They’re all reliable, depending on your needs. These apps will not disappoint you, so do not hesitate to use them.
