Apps to help you track your spending

Get to know your spending habits with one of these free budgeting apps.

Apps to help you track your spending

Do you worry that you’ll run out of money before your next payment? You could well benefit from apps that allow you to keep track of your spending so you can properly budget.

These apps can be used on your smartphone or touchscreen device, and will help you understand your day-to-day and long-term spending habits. 

GoodBudget
This intuitive app is perfect for those wanting to create a budget based on their cash flow. A useful (and nostalgic) feature is that you can set aside amounts of cash into ‘envelopes’ each week, month or fortnight, enabling you to understand the spending habits in each area of your life. This is a great app for those who receive varying payments. Irregular payments and expenses, such as birthday gifts and holidays, are easily tracked by using the irregular envelopes.

Pocketbook
To get the most out of a budgeting app every single transaction you make must be logged. This can take a lot of time. It’s a big obstacle in the way of learning more about your spending habits and finding new ways to save money.

To cut back on this time investment, Pocketbook connects you with your Australian bank accounts and synchronises your spending automatically.

Once your bank accounts are all synced, Pocketbook will be able to determine what 80 per cent of your transactions are – e.g. income, bills or groceries. For any transactions it cannot categorise (or does so incorrectly), you can set it manually, and Pocketbook will remember this setting for the future.

The app has over 100,000 Australian users, and allows you to set notifications for when you approach your spending budget, have bills due and more.

Wally
This app has a unique way of categorising your spending habits into ‘experiences’. For example, in addition to categorising a transaction as ‘eating out’, you can tag it as a social, family, work or personal ‘experience’.

This innovative method of categorising spending helps you to discover where you are spending too much money, whether it’s being too generous when you’re eating out with family or having drinks with your friends too often.

Wally can also use your location to determine what you’re likely to spend money on. All you have to enter is the amount and it will know how to categorise it.

What budgeting apps have you had success with?

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    COMMENTS

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    turtle
    3rd Mar 2020
    11:32am
    I have always kept a budget, written into a notepad well before retirement, got my kids to do the same, It is fail proof as long as you stick to it. When the purse is empty stop spending.
    cupoftea
    3rd Mar 2020
    12:01pm
    Like turtle I have kept a tally of what I spend every day for the last 5yrs,so last year I know what it cost me to live I retire next year so I know what it will cost as I always add 0.5% for cpi
    CountryCatkin
    3rd Mar 2020
    12:11pm
    My preferred budget app is simply called Spending.
    It’s versatile and allows me to set the various categories I choose.
    I document almost every transaction I ever make as well as setting up recurring debits and payments in to my accounts.
    I can also get print-outs or record the nitty gritty spending on an individual subject as I choose. It also graphs in several ways where the money comes and mostly goes!
    I paid a small amount for the professional edition of this app, but the basic one is fine.
    Sundays
    3rd Mar 2020
    12:26pm
    Doesnt matter which method you use. Pen and paper. Excel spreadsheet, or an app but having a budget and sticking to it is the key
    CountryCatkin
    3rd Mar 2020
    12:32pm
    I agree.
    My budget is tight enough to squeak, but it’s a huge help to record it, however it is written or managed. I have used ‘Spending’ for several years and have recommended it to friends.
    The Sheriff
    3rd Mar 2020
    1:09pm
    I don't bother. Budgeting like you suggest is too serious for me and would interfere with my casual and relaxed lifestyle. Hey you guys, start chilling out. Forget this budget BS. If necessary just adopt a more simple lifestyle and make use of the many enjoyable freebies such as are offered by for example Council libraries.
    CountryCatkin
    3rd Mar 2020
    1:44pm
    What makes you think we contributors don’t employ things like using libraries and the like? I worked in a big library for years. Our lives aren’t dominated by money matters, but by being careful and aware we get by without adding extra stress to the ups and downs of daily living. My life is relatively simple, happy and rewarding, however you interpret the replies.
    Do you have only yourself to please?
    KB
    3rd Mar 2020
    1:54pm
    You do need special apps. I record my spending in a notebook
    KB
    3rd Mar 2020
    1:54pm
    You do need special apps. I record my spending in a notebook


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