When I first started earning my salary and had a little more cash on hand than what I was used to, I had a hard time keeping track of the bills in my wallet. I’d take out a P500 bill to buy coffee and put back the change, then do the same for other stuff I’d buy along the way.
At the end of the day I had no idea I had spent more than I should on useless stuff, thinking that as long as I had money in my wallet then I’m good. This was made worse by the fact that math isn’t really my strong suit, so I was always confused with how much I’d already spent for the day, or if I still had enough money in my wallet.
That’s when I started to daydream about a super high-tech wallet that automatically logs whatever money you take out or put back in it, so that you could keep track of your expenses. The updates would be automatically transmitted to a mobile app, from where you could check how much money you still had.
Such technology obviously doesn’t exist yet today (although I really, really think it should!), but we’ve got the next best thing in our pockets–our smartphones. With the help of these mobile apps, it’s easier to manage your finances, and they can even help you save up for something that’s worth every peso you’ve worked hard to earn.
One of the time-tested money management advice I had inherited from my aunts and uncles is to segregate my payday income into separate white envelopes (for rent, groceries, utility bills, dining out, etc.) so I could physically see and track where my money is going.
GoodBudget does exactly that, only virtually. Create a number of envelopes and fill them up with money from your monthly income, or from other sources. You can also log and track expenses per envelope, so you could easily see how much money is left in each.
If Skittles were made into a mobile app, Wally+ would be the logical form it would take. Different bright-colored hues make for easily seeing expense categories at one glance, and beautifully laid-out charts give you a quick glimpse into your spending patterns. But don’t be fooled by the whimsical design, because Wally+ is a powerful app under the hood that lets you log and categorize expenses, track savings targets, and manage your budget easily.
Managing your finances shouldn’t be hard, and BUDGT totally gets that. Its straightforward, no-frills, minimalist approach centers the focus on the reason it exists in the first place: to track and manage your expenses. Just fire up the app, log your expenses for the day, and get an overview through simple colored data charts that show you where you are. It’s as simple as that!
As these apps go, managing your finances is usually a personal endeavor. But in reality, your finances usually extend to and originate from other places, as when you’re managing a multi-income household with a number of family members. This is where Spendee shines the brightest, because it gives you the ability to extend the monitoring to friends or family members, giving you oversight of your wife’s grocery expenses or your son’s credit card charges, for instance, aside from your own personal expenses.
Unlike the other apps in this post, Unsplurge doesn’t help you track your expenses, but it does something else wonderfully: it helps you save money for a particular goal.
Want to save up for a new laptop that you need, or an overseas trip with friends? Set a goal using Unsplurge and log all the money you’ve set aside in real life so you can track your progress and celebrate once you’ve reached a particular objective. And if you’re having a hard time following your goals, get inspiration and tips from other members within the Unsplurge in-app community to keep you on track.
Saved enough money with the help of these mobile apps already? Now, it will be much easier to save up amounts that you can use more productively – like for the downpayment of an asset like a car.