You can learn to stick to a budget, and even save for something special — if you have the right iPhone app!
Keeping track of your expenses is only part of staying within a budget. You also need to keep an eye on how close you are to your limits. Personal finance apps are great for getting an overview of what you spend each month, but budgeting apps can help you save. Here’s a list of our favorites.
With HomeBudget, you can manually input your income and expenses, including which ones are recurring and which ones just came up this month. Plan ahead by entering a maximum amount of money you want or need to spend on specific categories, like car payments and going out to dinner. Then, see how close you are to going over budget with the graphic overview.
HomeBudget also has an extra special feature: It lets you sync your budget with others. So, the person (or people) you share household finances with can include their income and expenses and you can work together to stick to your budget.
If you want to work together with members of your household to budget and plan for the future, HomeBudget is for you.
Planning a budget is one thing, but understanding why you need a budget is another. YNAB does more than just help you live within your means: it helps you evaluate your lifestyle and decide which purchases are the most important on any given day. The idea is that every dollar needs a “job.” So, you are asked to manually allocate every bit of your income to some budget plan, even if it is “Stuff I Forgot to Budget For.”
Finances are divided by what is budgeted for, what was actually spent, and what you have leftover at the end of the month. As you work within your budget, you’ll see that extra income roll over to the next month, which you can start adding to your goal fund to go on vacation or buy a new car.
If you are the type of person that never seems to have enough money at the end of the month, give YNAB a try. You’ll need to register online before using the app.