Best Money Management Apps for Android and Apple

Money Management Apps

Money management apps have become quite popular in recent times. The app market has grown dense; picking the right app might be quite a task. This article is to help you find the money management app that suits your needs.

Money management is a crucial part of personal finance. One should master the money management techniques to master personal finance. There were days when we used to record all the financial transactions in papers or desktops, but now things have changed. Everything is at our fingertips, thanks to the growing app market and smart phones.

You can find hundreds of apps listed in the Play store and in Apple app store. Here comes the trouble, picking the right app for your taste is difficult. One has to try so many apps to finalize one that suits him/her. This article is to save your time installing and uninstalling these apps. We have listed the best apps available for money management. Let’s check the list.

Jump to section:
1. Money manager by Realbyte
2. Monefy
3. Walnut

Money Manager by Realbyte Inc.

Money manager by Realbyte is one best app that we have found in the app store. It has simple interface to record every transaction you make. One can manage the transactions made in different bank accounts, cash payments, card payments, loans, bills and what not. You can create individual accounts for everything.

Entering the transactions is simple with adjustable date and time feature. You can also add simple notes and pictures with the transaction entry to understand it better.

The app has an auto chart view feature to view your transactions in graph. It helps in analyzing your spending habit and money management. The chart view also helps you in understanding where you spend a lot and to reduce the same.

Apart from the basic features, the app does provide automatic backup feature to your Google Drive, if you prefer manual backup that’s available as well. You can export the transactions as excel sheets or you can email the excel sheets directly to someone.

Money Management apps are useless without a budgeting feature. Money Manager does have a budgeting tool, you can create budget and get notified when you exceed the limits.

Apart from the above you can bookmark regular expenses to add them in one click. You can also lock the app using pass code. You can customize the style and look of the app.

Though the free version has some limits like one cannot create more than 10 accounts under the accounts tab and no PC Manager it is handy for starters. If you prefer more accounts and need PC manager with added features, you can try Money Manager Premium version which is priced at Rs. 390/- (Onetime payment)

Though money manager is the best choice for manual recorders, it may not suite those who like automatic transaction recorders. Every transaction you make should be input manually. Money manager doesn’t have the option to input automatic transaction by reading bank statements or SMS. It is the best choice for those who don’t want any apps to read their transaction SMS or bank statements.

Pros

Simple
Automatic chart view
Easy to use
Pass code and budgeting tool
Automatic backup into Google Drive

Cons

Free version has some limits
No automatic transaction recording option

Monefy by Aimbity AS

Another simple money management app in our list is Monefy by Aimbity AS. Monefy has an attractive GUI for inputs. The Incomes and expenses can be entered from the home screen. Unlike other apps Monefy shows the graphical view on the home screen.

It has different views like yearly, monthly, weekly and daily. One can create a budget based on their monthly expenses. Moenfy will show your spending limit set in the budget on the home screen.

If you love to have a money management app with simple yet attractive interface monefy is your go to choice. You can back up the data to internal storage. If you want to backup to Google Drive or Dropbox, you have purchase the pro version.

Monefy pro version comes with lot of additional features like creating new categories, accounts, setting pass codes, backing up your data to GDrive or Dropbox, dark theme and others. The pro version is cheap comparing other apps (Rs. 199/- onetime payment)

Pros

Simple
Attractive GUI
Effective chart view
Back up feature

Cons

Limited features in free version
No auto back up in free version
No automatic transaction recording option

Walnut Money Manager App

Walnut is one stop solution for money management and financial needs. This is an auto input app. It reduces your time from entering the transactions manually; rather it gets your transaction details through your SMS. You can also add your bank accounts to check the account balance and to add the transaction details into the apps.

This app is quite handy if you prefer an intelligent app to track your transaction without you being noting down everything. Walnut does provide cash expense option to enter cash spending manually.

Walnut has inbuilt bill reminder feature for your credit card, mobile bill, electricity and others. It gets the reminders through your SMS and reminds you the due date.

The graph view gives better understanding about your spending. Categories can be added based on your needs. It does have a better interface to list all your money management features in the home page.

Apart from being a money management app, walnut provides option to apply for person loans. This can be repaid in easy EMIs. It has a simple newsfeed at the bottom for news related to finance.

Try the app if you don’t like manual entries of transactions. As per the Walnut official page, it doesn’t read your personal messages.

Pros

Auto input feature
Check bank balance
Manual input for cash expenses
Get personal loan

Cons

A little complex GUI
Can read bank SMS
No detailed budgeting tool

Apart from the above apps there are tons of other apps available in the store. To mention few better options are Good Budget, Wallet by BudgetBakers and Money View. Good budget is budget centric money management app so does budgetbaker. Moneyview on the other hand is similar to Walnut.

Based on your need you can select the one that suits you, but the important thing is to stick to the app to record your transactions for a better financial stability. Analyze your graph once in a while to understand where to improve and where to reduce your expenses.

Hope we have given a simple list to pick the one suited for you. If we have missed any app do suggest us, we would love to try it.

About aniseprakash

Prakash Parasuraman, the brain behind ideas2earn.com He holds a masters in computer application. He has been a professional life skill trainer. This blog is an outcome of his research in personal finance for the past few years.

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