Managing money isn’t simple. No matter how hard you work to stay within your budget or save money, sometimes you still find yourself splurging after a while.
The desire to spend your hard-earned money and make a few dubious financial decisions will always creep in and empty your wallet, whether it’s for an emergency, a night out with friends, or a flash sale you can’t resist.
It’s annoying, especially if you’re attempting to reach a specific financial objective. However, if you’re having trouble developing self-control and tenacity, your smartphone could be able to help.
How? By offering you a variety of the top inexpensive apps available in the Philippines. With the best expense-tracking apps, you can save money, stick to a budget, and have your greatest financial year in 2023.
Please read: BEST BUDGETING TOOLS FOR 2022
What Are Budgeting Apps?
You may use a budgeting tool to track your money, including your income, savings, debt repayment progress, and investing, from your computer, tablet, or mobile device. When your finances change, budgeting applications frequently sync with your financial accounts to provide you with a real-time snapshot.
To uncover trends and help users become more conscious of their spending patterns over time and achieve their financial objectives, these apps may also categorize expenditure history.
List of Budgeting Applications in the Philippines:
Fortune City
Fearful of creating a budget even in theory? A gamified budgeting program called Fortune City makes keeping track of your spending more enjoyable!
Every time you increase an expense or a revenue, you as the mayor of Fortune City enlarge and improve your city. With the help of cleverly created charts in this entertaining software, you can easily keep tabs on your expenditures. Expenses can be divided into Want and Need categories as well.
Money Lover
When you looked at your bank account, did you ever wonder where all your money went? Using Money Lover to log your purchases can help you become more intelligent and stop living paycheck to paycheck.
You may change your spending patterns with the aid of this free budget tracker to make sure that no money is lost. You can use it to manage your bills, anticipate future spending, and plan budgets.
Daily Expenses
Once you download Daily Expenses, you won’t need to keep track of your daily expenses. This program, created to help you keep track of your income and expenses, lets you record your financial transactions by date and see them as weekly, monthly, or annual reports.
For those who are busy but want to manage their money better, this straightforward budget tool is ideal.
Home Budget
The ideal adulting app for your smartphone is Home Budget. The app, which is accessible on iOS and Android, will assist you in keeping track of your outgoing money and balances.
To make sure you aren’t going over your monthly household budget, it also offers financial analysis in graphs and charts.
Monefy
If you’ve never tried keeping track of your costs before, budgeting can be challenging. The Monefy app can be useful in that it simplifies everything.
If you’re more of a visual person, this report is ideal for you because it breaks down your costs into an understandable pie chart. You may easily recognize your purchasing habits thanks to this as well. You have the option of viewing your expenses in weekly, monthly, and yearly charts in addition to tracking your daily spending.
Monny
The user interface of Monny, which features a trademark bunny mascot and pleasant pastel colors, is simple to use and ideal for those who are new to budgeting.
Users are reminded to keep track of their expenses with daily reminder notifications. By clicking the huge plus sign at the bottom of the screen, you can simply put in your monthly income and expenses. Your balance will thereafter be automatically calculated by the app.
Each expense can also be categorized, allowing you to see whether you’re spending too much of your money on unneeded items.
Money Manager
Your costs can be tracked using Money Manager. You have the option of reviewing your financial information weekly or monthly. It may also be used as a budget planner where you can view a graph of your income and expenses. Its card management feature will notify you when and how much of a credit card bill is due.
Even better, you can set up an automatic debit system using your debit card to pay your credit card bills. Additionally, you can change the look and feel of your app and categories!
Splitwise
It can be challenging to eat out with family and friends, especially when the check comes. Splitwise addresses that issue by enabling several users to monitor single spending. Through an intuitive interface, it makes sure that each group member pays their dues evenly (and on time!). It’s the ideal method for splitting the cost with your traveling companions or roommates.
What to Take Into Account When Choosing the Best Budgeting App
It requires a great deal of self-control and determination to achieve financial freedom and life goals. Nevertheless, maintaining this mentality is harder to do. However, using a budgeting tool is a great place to start and will help you get past these issues.
Consider these aspects when searching for the finest budgeting app.
Free to Use
Since your objective is to create a budget for your finances, choosing the finest free budgeting app is only appropriate. Even though commercial programs have additional features, using free downloads is recommended.
Features of Security and Transparency
Sometimes being a techie is advantageous, but the results might be dangerous. You will be disclosing personal information like your bank account information. Look for apps that include security and transparency features, then, at all times.
To integrate a bank account or credit card account, the finest budgeting software must have multi-factor authentication, such as FaceID, TouchID, or One-Time Pins (OTP).
Synchronization of credit cards and bank accounts
The majority of budgeting apps already allow for linking to credit cards and banks. By syncing this app, you can effortlessly track and keep an eye on your finances and purchases. Other programs, however, demand human input, which is cumbersome and time-consuming. So, search for a cheap program that meets your level of usability.
Compatibility with Devices
You must make sure it works with your smartphone because it is a crucial function. Some budgeting apps are exclusive to Android phones, while others are only available for iPhones.
Personalized Spending Categories
Numerous budgeting programs have pre-defined categories such as Loans, Insurance, and Utility Bills. Yes, it might assist you in keeping track of your costs, but customizing features would be perfect.
You can therefore change the titles of the aforementioned category for easier identification or alter your daily, weekly, or monthly budget.
Conclusion
But you surely have a concern: Are free apps secure? Budget apps are safe to use as long as you’re using your technology responsibly (creating very strong passwords and changing them frequently, avoiding clicking on dubious links, etc.).
Choose any of the top Philippine budget apps from the list above if you need to work on increasing your savings in 2023. It can significantly improve your spending and saving behaviors.
It can help you become more organized, provide you with a clearer image of your financial situation, encourage you to think about finding additional sources of income, and, of course, it can teach you how to value money.
Isn’t it rewarding to notice your progress?
