By the end of each month, where does all the money go? It will make the best spending tracking apps for your mobile, so you don’t have to wonder anymore.
You can set a budget, record your expenses, and even do micro-investment, all from your iPhone or Android phone. We have searched the iOS App Store and Google Play Store to find the best applications to track your spending.
Most people know the value of maintaining business receivables in terms of audits. The drawback of paper receipts is that losing such an essential record is easy. Instead of digging through a shoebox full of paper receipts at tax time, you can save space and time by quickly putting these into an expense tracker app.
These expense tracker apps usually do more than just track receipts. You can track investment performance, send invoices, create budgets, reconcile your accounts, check your credit, keep track of your miles, and more. Most of these apps are affordable or free.
Why track expenses, and what are the benefits of personal expense tracking? Let’s know.
Benefits of Personal Expense Tracking
There are many benefits to tracking your expenses. Tracking helps you stay on budget and make wise spending decisions. You can cut back on unnecessary expenses when you find out where your money is going. Keeping track of your expenses can also help you identify your spending patterns.
For example, you may spend more when stressed or socializing with friends. Knowing this, you can change your spending habits. Personal expense tracking can help you save money and manage your finances better.
Advantages of Using the Personal Expense Tracker App
There are many benefits of using a personal expense tracker app. The most obvious advantage is that you can easily and quickly track your expenses. Expense tracking is good for budgeting and saving money. Also, a personal expense tracker app can help you figure out spending patterns and adjust accordingly.
For example, you may realize you spend a lot on coffee every month. By tracking your expenses, you can make a conscious effort to reduce these expenses. Using a personal expense tracker app can help you become more aware of your spending habits and save money in the long run.
The Best Personal Expense Tracker Apps
- Best Overall: Mint
- Best for Small Businesses: QuickBooks Accounting
- Best for Investors: Personal Capital
- Best for Receipt Saving: Expensify
- Best for Personal Expense Tracking: PocketGuard
- Best Free Option: NerdWallet
- Best for Business Expense Reporting: SAP Concur
- Best for Expense Tracking and Budgeting: Wally
- Best for Budgeting: YNAB
- Best for iPhone Users: Apple Card
- Free Personal Finance App– MoneyStrands
- Spending Manager– Money Lover
- Best for Tracking Spending– Dollarbird
1. Mint.com- Best Overall
Mint is the best overall expense tracker app. It is free and allows you to keep track of all your accounts in one place. The app lets you set savings goals and track your credit and investments. You can get a Mint Live subscription if you need extra financial support.
With expense tracking features, the Mint personal finance app helps you track your spending and create a monthly chart sheet of your expenses. The Mint app allows you to add and sync your bank accounts and card details for up-to-date and secure financing.
It is unnecessary if all you are looking for is some support with basic budgeting, but if you are searching for more apps, Mint Personal Finance is fantastic.
2. QuickBooks Accounting- Best for Small Businesses
QuickBooks Accounting is the best expense tracker app for small businesses. This app allows users to send and manage invoices and track mileage. A built-in photo tool helps you quickly and efficiently take images of receipts.
QuickBooks is a business accounting and bookkeeping app owned by Intuit. This app allows small businesses to manage financial operations, send invoices, and track expenses.
QuickBooks Accounting offers a 30-day free trial without a credit card or commitment. Additionally, the accounting app is cost-free if you use QuickBooks Online. Alternatively, choose from several packages starting at $7.50 per month. QuickBooks Accounting features for small business owners are:
- With over 650 app integration, the app features powerful CRM and inventory management.
- Allow your accountant to customize the invoice with your business information and logo.
- Track bills in different currencies.
- Create a profit and loss statement.
- Take snapshots of receipts and include them in the expense record.
- Track sales and customers.
- Categorize your expenses.
3. Personal Capital- Best for Investors
Personal Capital is the best expense tracker app for investors. It allows you to check all your bank and investment accounts in one place. The application also features investment options, guidance, and expense classification and helps to track upcoming liabilities.
Personal Capital is a personal finance and asset management company established in 2009. It gives you an accurate picture of your current financial situation.
You can use Personal Capital’s advisory services if you have investable assets worth over $100,000. Its investment management annual fee is exorbitant compared to similar-sized businesses. You receive a free initial consultation with one of their financial advisors after you link your accounts.
For example, If your net worth is more than $1 million, you’ll be charged an annual cost (fee) of 0.89 percent. Depending on the total value of the property, your annual fee ranges from 0.79 percent to 0.49 percent if it exceeds $1 million.
This app is still valid even if you don’t have $100,000 in investable assets. Use its investment management tools to link accounts, budget, plan for retirement and view your cash flow. These services are free with single signup.
4. Expensify- Best for Receipt Saving
Choose Expensify when looking for a receipt-saving app because it automatically scans, reads, and imports your receipt information. Receive travel reminders, flight delay notifications, and change notifications sent directly to your phone; It also works for travel.
The Expensify app debuted in 2008 with the sole purpose of managing receipts and costs. There are 25 free scans per month; any more scans require a premium subscription. If your business needs expense reporting, card management, approval, and reimbursement, the initial monthly fee is $4.99, or $9 per user.
Because it provides features to forward receipts directly to a manager or accountant, this app is perfect for small and large businesses. A corporate Visa card and a corporate travel assistant are available through Expensify. They can then approve or decline expenses directly from the app from that point forward.
Integrate accounting software such as Sage Intact, NetSuite, Xero, and QuickBooks. Employees love the next day’s refund from Expensify because they get their money immediately.
Expensify’s compatibility with international currencies and taxes is one of its top features for business travelers. End of month closing process is simplified with a worldwide compatible app.
5. PocketGuard- Best for Personal Expense Tracking
PocketGuard is an all-in-one cash tracking and budget app that shows how much you have in your accounts and how much you can afford to spend for the day.
The app connects through an encrypted, read-only link to your bank and card accounts, enabling you to access the status of your accounts and purchases easily. From there, PocketGuard can easily manage your sales, subscriptions, payments, and factors in your previous spending factors to estimate how much you can spend comfortably from your accounts without going into the red.
6. NerdWallet- Best Free Expense Tracker
Choose the NerdWallet app if you are looking for a free expense tracker. With this app, you can monitor your credit and net worth, check all your accounts and their transactions in one place, and get accurate statistics on your cash flow.
NerdWallet, a personal finance company, was established in 2009. Its app provides a comprehensive view of tools to help you with your finances and money management. There are no in-app purchases, and it is free to use.
Some additional features include Linking your accounts and organizing your transactions to see how you spend your monthly income. The app forces you to save money, invest in the future, and reduce debt.
You may get offers to get cashback from merchants when you add a debit or credit card. Once you have $10 in cashback, you can cash out. To help you make wise financial decisions, NerdWallet also provides calculators and editorial materials.
The app provides advice tailored to your unique scenario. For example, if you’re spending a lot of credit on one card, the app may recommend you use that card frequently each month to keep your balance low.
7. SAP Concur- Best for Business Expense Reporting
SAP Concur is the ideal business expense reporting tool for established (and expanding) small and medium-sized organizations. SAP Concur offers built-in workflows for employee reimbursement, submission and approval, invoice tracking, vendor payments, travel booking, and more, in addition to tracking expenses.
SAP Concur is a helpful personal expense tracker app because you can customize it however you require, costing you accordingly (based on features and the number of users). Another reason SAP Concur is a good choice is that it offers a range of products for smaller organizations, allowing you to add as much capacity as you need. Existing Concur users can download the app free from the iOS or Android App Store.
8. Wally- Best for Expense Tracking and Budgeting
Wally, a budgeting app, initially allows for free expense tracking. Users who sign in with their email address can set a savings goal and daily schedule and record expenditures. Income, tracking expenses over time, set bill reminders, and more are all displayed in a timeline stream or calendar. For additional advanced features, you can raise them using paid subscriptions.
The Wally finance app also provides premium subscription packages with group budget tracking, foreign accounts, currency conversions, and other features.
Wally is a vibrant app with a ton of useful expense-tracking features. Like other expense-tracking apps, Wally allows you to manually enter expenses and assign categories to them or take direct images of receipts. Wally is primarily an iOS app; the basic version is free.
Wally can also track your income and provide a monthly savings estimate. Wally is suitable for those who run a microbusiness or side hustle as it focuses more on personal than business finance.
9. YNAB- Best for Budgeting
YNAB, or You Need a Budget, is a budgeting app that helps you manage your finances by controlling your spending. Some of the fundamental features of YNAB include budgeting, tracking your progress, and setting goals. With YNAB, you can see exactly where your money is going and make adjustments to ensure you stay within your budget. The app can help you save money and avoid overspending.
According to YNAB (You Need a Budget), you need to track every dollar spent and earned you want to spend. Because you can only spend what is within your income, the app helps you reduce your debt.
YNAB is suitable for both iOS and Android phones. There is a 34-day free trial and a monthly starting price of $11.99.
10. Apple Card- Best for iPhone Users
Any discussion about tracking expenses for iPhone users will start with the Apple Card. While this is a credit card approved by Goldman Sachs and not a budgeting app, the new Apple service has a feature that allows you to keep track of your expenses.
In addition to a simple application process and cash-back plan, Apple Card also breaks down your monthly transactions by category. You’ll be able to launch the built-in Wallet app from iOS to view your weekly and monthly spending patterns, with Apple using machine learning to categorize categories for each purchase.
11. MoneyStrands- Free Personal Finance App
Link your current bank accounts to MoneyStrands, and you can easily track your savings, expenses, and personal finances using this finance app. Also, compare with helpful graphs and charts showing you every spending.
The app offers an easy method to create your monthly budget. You can set your savings and financial goals and build a categorized budget. A bonus feature includes a calendar system that helps determine when you make the most expenses. The app is free for its users.
12. Money Lover- Spending Manager
Money Lover is an all-in-one free and premium app that allows you to monitor your on-hand cash and bank accounts, build your budget and show spending breakdowns infographics.
Including adding expenditures and creating budgets to show and monitor your spending habits, the free apps already cover most of the basics.
You get additional features with in-app purchases or a paid subscription, such as receipt scanning and automatic expense tracking. You can also connect your accounts to the app, saving you from managing your bank account manually and related expenses.
13. Dollarbird- Best for Tracking Spending
Dollarbird adopts a collaborative, calendar-centred approach to budgeting and tracking expenses. In a calendar-style view, you can add, delete and edit past and future expenses and profits, with some AI support in categorizing your entries.
In calendar and timeline mode, you can show your expenses and profits through useful infographics on your mobile device or web interface. Some premium features are also available for families and small businesses.
