Moms are homemakers and for the most part carry the responsibility of running an efficient home – preparing lunchboxes for the kids, putting away the dishes after dinner, airing out the sheets, including the dreaded “B” word – budgeting. Especially for large families, this could be a mammoth of a task.
But moms today have technology on their side. Budgeting and sticking to it are now made hassle-free and less-time consuming with the development of these budgeting and money management apps on the market.
Here are 5 of the best budgeting apps for all you supermoms out there:
Mint has been around for many years and is the most recommended budgeting app among parents and working professionals alike. Not to mention, it’s completely free to download! This nifty app allows you to create a budget and pay your bills. You can also connect your bank account to keep tabs on your spending.
Mint has a useful notification feature wherein it sends you email alerts when you have overdrawn from your accounts, gone out of budget, or if there has been suspicious activity on your accounts.
Mvelopes is a modern take on the envelope system of budgeting, where you assign a spending amount for each category (envelope), and stop spending once your envelope comes up empty.
Mvelopes syncs to your bank and automatically categorizes your transactions for you (of course, you have the option to edit them too). It’s free for up to 25 envelopes. If you find yourself needing more, you can pay $95/year for the pro version, which includes a debt management feature.
This app uses the calendar method of budgeting. The interface itself is a calendar that helps track your spending habits. Most user reviews find this useful to see ‘the big picture’ of their finances.
First, you input your salary and recurring expenses. Then, you log day-to-day expenses on the calendar. It has a $0 price tag, but you won’t be able to link the app to your bank account (you’ll have to enter all your bank information manually).
- You Need a Budget (YNAB)
YNAB helps you track your money spending between paychecks. It links to your bank accounts and has special tools to clear off your debt, and plots your spending trends on colorful pie charts.
It’s free for a 34-day trial, but will set you back $50/year for a pro subscription.
- Every Dollar
This app was conceptualized by Dave Ramsey, a well-known personal finance guru. It has a user-friendly interface and incredibly easy to use.
All you have to do is set up a monthly budget with your expected incoming salary, and put together a list of categories for expected expenses for the month. Like other popular budgeting apps, it allows you to connect your bank account and transactions get synced automatically.
What sets it apart from the competition is its “drag and drop” function, so you can track each transaction (cash withdrawals, credit card purchases, checks cashed, etc.) and drag them into the budget category it belongs to.
There is a free version, but syncing your bank account will need you to upgrade to Every Dollar Plus for $99/year. Many users claim it’s totally worth the price tag.
Creating a budget and watching every single penny spent is extremely stressful at first. But it allows you to be more accountable with your family finances and will transform your spending habits. Your family will thank you for it, supermom.
Read Babble’s experience with these budgeting apps in this article..
What app do you think would work best for you? Let us know in the comments below!