Budgeting can be a tedious task when you have to manually input all your expenses and income using a spreadsheet on a computer or go traditional with a pen and paper. In today’s fast tracked world, even google sheets has been left behind. With virtually everyone using smartphones these days, keeping your finances on track is much easier to accomplish. The best budgeting apps in Canada help you to save money, grow your savings, understand how your money is being spent, and help to reach your financial goals. Many of these budgeting apps available free of charge! So you won’t need to spend in order to get a handle on your finances!
If one of your budgeting goals is to increase your savings, then you need Mint. This app will allow you to learn how to save more and spend less. That way, you’ll have more money in your pocket, your savings account, or towards your investments! It gives you a platform to view all your financial accounts in together so you can automatically track your spending and set saving goals. The app also makes budget creation a breeze. In addition, it will send you alerts about unusual charges and upcoming bills. It supports all the major banks in Canada and is very secure as it uses the same 128-bit SSL encryption that they use.
If you’re just starting off and want a barebones budgeting app – this is an excellent choice. It simplifies budgeting and makes it easier for you to keep track of your budget and expenses. Whether it’s money in, or money out, this is designed to be a simple budgeting app. The app is very user friendly and can also be set up very quickly. Of all the budgeting apps, this one is simplest, hence it’s name.
If you’re looking for an app which will help you differentiate between your business spending and your personal spending – this is the one for you. Expensify aids you in figuring out and separating what you’re spending on business purchases. It’ll also help with what you’re using for personal expenses, which might be helpful for business travellers and business owners!
YNAB (You Need A Budget)
YNAB is a premium finance app that takes budgeting to a totally different level. If you’ve never even had a budget before, this is the app for you. It’s a great way to get started with budgeting and will teach you about all the ways to manage your money. The app uses a “zeroed” out budget and ensures that you allocate your money down to the very last cent.
KOHO is a reloadable Visa card and app that also functions as a prepaid spending card, money-saving app, and a budgeting tool. It is free and available on iPhone and Android. The KOHO app offers effortless budgeting with real-time insights into your spending (daily, weekly, and monthly) and savings. It also has a referral program that pays you up to $60 for every friend that signs up using your referral code! Lastly, you can easily set savings goals (both personal and joint) and the app shows you how to reach these goals.
No matter the budgeting app you choose, it’s important to set yourself up for success. Budgeting your finances and taking control of your income and expenses is a big part of life. We’ve got plenty of other blogs to check out for personal finance, loans, and general life advice if you click here.