It’s crucial now to set up a financial plan. Subscription services are widely used in the time in which we live. As usual, you need money for various purposes like housing rent, transportation, and other utilities.
Compared to the early times, money is much tighter these days and chequebook balancing is outdated. But we have a solution for that. Are you wondering what that is? Yes! It is an expense tracker app that performs budgeting tasks quickly and effectively.
As we welcome 2023, let’s see which are the top 10 expense tracker apps in the market.
1. Mint
A cost-free expense tracker app that has the highest rating in both Google Play Store and App Store.
It can be linked with many kinds of accounts such as credit cards, loans, savings, investments, and bills.
Mint helps you to track expenses and classifies them according to your budget. The categories are unlimited and can be personalized as we want. Mint helps you to set limits for your expenses and it will alert you when you exceed the limit.
It provides high-security options such as Verisign scanning, Touch ID mobile access, and multi-factor authentication.
The drawback that certain consumers of Mint noted is showing too many advertisements and sometimes the expenses are tracked in the wrong category.
2. YNAB (You Need a Budget)
Instead of tracking past purchases, this App encourages users to make financial decisions in the future. YNAB uses a budgeting method called “zero-based budgeting.” With this method, you must make a plan for every dollar you earn.
You can decide how much of your income should go towards other categories, such as cost, goals, and savings, as soon as you receive payment.
The app functions on a subscription of a particular amount. $84 per year or $11.99 per month is the subscription cost for this app. The charge is along with a 34-day free trial. One of the attractive things about the subscription plans of TNAB is that they give students a 12-month free subscription if they provide proper proof.
YNAB can be accessed through both Android and iOS. It has security features like third-party audits, Encrypted data, and accredited data centers. YNAB is considered one of the expense tracker apps available in the market.
3. Everydollar
A simpler and easily manageable expense tracker app that can be purchased from both Google play and Apple store. It offers a zero-based expense framework just like YNAB.
There are two versions of Everydollar, one is the paid one and the other is a free version.
The free version doesn’t sync your accounts but manually updates the sending and receiving of money. It helps us to categorize expenses as we like. Everydollar provides the setting of reminders for bill payments in the free version.
The premium version of Every Dollar helps to sync with bank accounts. The transactions you conduct will automatically appear in the app.
As we mentioned earlier, the free version of the app is free whereas the premium version is quite pricey. The premium version can be purchased for $79.99 a year or $12.99 per month after the free trial provided by them.
4. Xero
Xero is an online expense-tracking software platform for personal finance, small businesses, and their advisers. In addition to the widely used general ledger and support for double-entry bookkeeping, it provides features like invoicing with quotes, bank reconciliation, purchase orders, cost management, tax management, and mobile accessibility.
Over 800 third-party applications are linked by Xero, including cash flow, project management, customer relationship management, e-commerce, inventory, and logistics.
To use the app you need to have a subscription to it. The subscription starts with a three-month plan with costs around $13 per month. It provides various other plans which cost around $37 to $ 70 per month. The costly plans will open wide options in the app.
5. Simplifi
Simplifi is one of the prominent expense tracker apps which is easy to approach. The app helps you with financial accounts and finding instantly how much money you have left over each month.
It gives various features to the users and is one of the ad-free expense tracker apps. The App Simplifi is offered by Quicken and it allows the user to track expenses in multiple categories.
It costs around $3.9 per month or $47.88 for the first year. Then you will have to pay $5.99 per month in the following years. The app provides free trials for its new subscribers.
Simplifi can be personalized as the user wants. It can be purchased from both Apple Store and Google Play.
6. Center Expense
Another cost-free budgeting app for users who can’t afford the highly paying trackers. The app is mainly used in middle- businesses.
With Center Expense, transactions done by users on a CentreCard are promptly reported within the app, and users have to access transactions from their phones to add any necessary details. The apps connect with accounting programs like Quickbooks and Oracle NetSuite.
Center Cost was credited with medium-sized businesses in mind, those with 50 to 500 people, but it can also assist larger organizations with 500 to 2000 employees that are searching for real-time expense management solutions.
7. Shoeboxed
Shoeboxed is one of the best expense tracker applications that are best for businesses with several amounts of paper receipts.
It charges around $29 to $89 per month for its subscription. Comparatively the Shoeboxed is quite a high-cost application.
The app offers a way to effortlessly handle receipts and other paper documents, in contrast to other expense tracker apps that concentrate on pulling information from bank accounts.
Users can request a Magic Envelope to transmit their documents to Shoeboxed for scanning, or they can choose to scan their own receipts. In addition to producing cost reports, the software will interact with other programs like QuickBooks and Evernote.
8. Your Banking App
Another cost-free expense tracker app that features Banking and expense management at the same time. This is an ideal app for bank customers. Your Banking app can be used to track down users’ expenses and it is one of the easiest apps used on mobile phones for budgeting.
It helps the users to have an insight into their bank accounts. The major advantage of using our banking app is that we don’t have to be afraid of fraud and scams. Most of the reputed banks provide standard and easily accessible apps which can be trusted.
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9. Expensify
Another app that makes it simple to scan receipts and enter expenditure information is Expensify. It is more reasonably priced than any other expense tracker which costs for the subscription.
With the app, a user can scan up to 25 receipts for free each month or purchase an unlimited amount of receipt scans for $4.99 each month. The app will track miles and keep data indefinitely.
Group plans also come with extra features like integrated accounting software and functions for expense approval. Expensify has received positive internet reviews, and in addition to its reasonable price, it appeals to consumers wishing to track GPS mileage.
10. SupportPay
Support Pay was developed for parents who split the cost of raising a child but do not live together.
Parents can upload or take a picture of receipts to share with other parents using this app. Either payment records can be manually added or payments can be made instantly through the app. Additionally, a parent has the choice to reject an expense and offer a written justification for why they disagree with the payment request.
SupportPay data can be exported and utilized to produce certified records for use in tax or legal proceedings.
SupportPay can be accessed through the free version which only provides the feature to upload two receipts and three expenses a month.
The Premium version costs around $8.33 per month for a single user and for a family user it costs $12.49 per month.
