Whatever your reasons, understanding your budget is key to living a comfortable life. Whether you’re saving for something in particular, getting out of debt or just trying to stop spending so much money on food, noting your daily spend can definitely help resolve any issues. Here are five apps that can help you you stay on top of your budget.
Money Health Check
Money Health Check assesses your finances and lets you know whether they’re in need of some tender loving care or whether you’re on the right track.
This free MoneySmart app asks some simple questions, and then gives you a breakdown of what areas need attention and where you’re doing well by looking at:
The great thing about the app is that it’s personalised, and at the end it gives you the top five actions you need to take to improve your finances.
Also created by MoneySmart, TrackMySPEND allows you to input all of your expenses so you can find out where you need to cut back and save.
Examples of expenses you can put in include medical, grocery, work or travel, gifts and coffees, lunches or dinners. You can also nominate a spending limit per week, fortnight, month or year, and the app will track your progress against this limit.
The key feature of this app is the ability to mark expenses as ‘need’ or ‘want’. That way, when you revisit your expenses you can see what you can cut back on and where there are opportunities to save.