Top 5 Budgeting Apps to watch out for

Posted by on Sep 1, 2012 in Ibeology | 18 comments

In today’s inflationary times wouldn’t it be a boon to have an app that manages your home budget effectively and keep you updated on how well (or badly) you are doing with your finances? Today I have a list of 5 such Apps. Though these are yet to be launched in India and meant for the iPhone only, looking at the number of ever growing iPhone users, my optimism tells me that the day is not far when these apps will be in the palm of our hands here in India too!

Till the time that happens, let us educate ourselves about these wonderful Budgeting Applications:

iReconcile

iReconcile comes loaded with features like extensive reporting, built-in check register and an online backup and sync service. Its ‘budget tracking tool’, allows you to drill down to the minutest of detail. Whether it is yearly, monthly, weekly or even daily budgeting, the tool does it perfectly. This USP has won me over. Another thing that impressed me is the ‘Rollover’ feature which transfers your remaining funds of the current month’s budget into next month’s without any user input. That means your unspent amount is not wasted, but taken care of. Isn’t that fabulous?

Expenditure

If you want to do a little more with your app then Expenditure effortlessly showcases ways of adding new transactions and going beyond your allotted chunk of spending money, with attention to detail. Other standout features include ‘built-in currency’ converter, making it easy to stick to a budget when travelling. This looks like a cool travel buddy to me.

MoneyBook

If you are inclined towards a more feature rich app then MoneyBook is perhaps what you are looking for. With MoneyBook, entering new transactions is a breeze. It is supported equally well by other useful features like password protection and free cloud backup service. If you lose your phone or plan to store some important transactions somewhere other than on the device itself, then you will be thankful for the handy free cloud service this App offers.

Toshl

If you wish to keep your finances in a secure, simple and intuitive way and simultaneously also enjoy the advantage of the cloud technology then Toshl is an ideal tool for you. The app is designed to sync everything to the cloud automatically after adding or updating a transaction. Thus all your spending history stays safe. Multiple user support for family budgeting, added export options for Excel, etc. are some of the add-ons you can expect with application.

Mint

Mint application is synonymous with budget tracking. The back-end is designed to connect directly with your bank account through Mint’s secure and award-winning online service. This in turn automatically updates your spending and transactions without any user input. This product wins brownie points for categorizing your transactions in order to avoid constant update on your profile.

I cannot wait to start using these apps, how about you?
Till we meet again, keep exploring the ever-growing apps world of apps.