Apps by the Numbers

TrackMySPEND

TrackMySPEND. This is my favourite money app. First, because it’s sensible and easy to use, and second, because it’s produced by the Australian Securities and Investments Commission (ASIC). To use TrackMySPEND, simply add a timeframe and spending limit, then input your expenses.

• Pros: From a reliable source, can set expenses as ‘need’ or ‘want’, completely free, can set up a simple or detailed budget, can sync across devices, additional budgeting advice available on the ASIC website.
• Cons: Can’t store photos of receipts.
• Price: Free.
• Devices: iOS, Android.

HomeBudget

HomeBudget is more detailed than TrackMySPEND. It requires a categorised budget and includes bank account balances.

• Pros: Intuitive and detailed, can sync across devices, ‘Family Sync’ feature, allows photos of receipts, allows entry of income.
• Cons: Requires considerable data entry.
• Price: Free ‘lite’ version limited to 20 expense entries and 10 income entries (full version: $7.99 on iOS).
• Devices: iOS, Android, Windows, Mac OS, Kindle.

Goodbudget

Goodbudget is a modern interpretation of the tried and true envelope budgeting method. Simply add funds to virtual envelopes for different expenses (groceries, petrol, savings), then track your spending.

• Pros: Simple method, allows syncing across devices, allows entry of income.
• Cons: Paid version is expensive, doesn’t allow photos of receipts.
• Price: Free version limited to 10 regular envelopes, 10 annual envelopes and one year of history (full version: US$45 per year).
• Devices: Web, Android, iOS.

Wally

Wally is simple but effective – just add your monthly income, then enter your expenses and Wally will make sure you don’t overspend.

• Pros: Attractive design, allows photos of receipts, very simple to use, allows entry of income.
• Cons: Primarily for expense tracking, syncing across devices only available for Android.
• Price: Free.
• Devices: Android, iOS.

Pocket Expense

Pocket Expense is an app for the detail-oriented. First set up monthly spending limits for a range of categories, then add your income and categorised expenses.

• Pros: Easy to use, plenty of categories for expenses and budget, allows entry of income, allows photos of receipts.
• Cons: Popup ads on the free version, doesn’t allow syncing, iOS only.
• Price: Free (Pro version: $7.99 on iOS).
• Devices: iOS.

Spendee

Like TrackMySPEND, Spendee  is flexible and allows you to add an overall budget or set up a detailed, categorised budget and separate ‘wallets’. Once your budget is set, simply add expenses and income.

• Pros: Well-designed interface with tables and charts, allows entry of income, allows photos of receipts, can sync across devices.
• Cons: Premium version is expensive.
• Price: Free (premium version: $2.99 per month on iOS – allows budget sharing, more than one wallet and budget).
• Devices: iOS, Android.

Expensify

While Expensify  is not strictly a budgeting app, work-related expense tracking is an important part of keeping your finances in order. This app lets you photograph and store receipts – it even scans them and automatically creates and expenses entries! You can enter expenses manually, too, or import them directly from your credit card. You can also track your travel manually or by GPS.

• Pros: Excellent for tracking expenses, scans and stores receipts, works offline.
• Cons: No budgeting – expense tracking only.
• Price: Free (or tiered pricing structure for team and corporate use).
• Devices: iOS, Android, BlackBerry, Windows Phone.

With so many great budget apps out there, what are you waiting for? Get started and your bank account will thank you