No matter how hard you try, there are days when you think saving money or creating a budget is an impossible task. You are not alone. Millions of people in Nigeria struggle with the same feeling. Modern technologies come to the rescue! With the great popularity of financial apps, there are hundreds of ways to keep track of your savings. If you want to be aware of your money flow, thanks to trading on Forextime, and to create a budget that you can follow, these apps can help.
1. Moneon
This is one of the simplest and most understandable budgeting applications in which you can independently set the necessary categories for both expenses (for instance, utility bills, spending on groceries, travel, and education) and income. The application is capable of recognizing and registering banking transactions: just copy a message from your bank, open the application — and it will prompt you to add a new line. You will only need to select the correct category: income or expenses. Besides, the application can keep a budget in several currencies, track debts using a spreadsheet, and distribute the money among wallets.
● Level of financial literacy: initial.
● For whom: for those who have just started keeping track of their income and expenses and want to understand how much they spend and earn per month.
● Platforms: iOS, Android.
2. CoinKeeper
The main feature of this application is a convenient widget in the form of a coin, which can be dragged and used to add transactions to the expense item. Everything you need is here:
● you can immediately assess the income and expenses this month,
● categories on which the most money was spent,
● and how much was left on the available accounts.
The application independently recognizes SMS from banks, but so far only on Android devices. It also provides the function of automatic budget (CoinKeeper calculates the main items of expenditure for the next month), shopping planning and budgeting for the whole family.
● Level of financial literacy: initial.
● For whom: for those who manage the family budget, and those who constantly use several bank cards.
● Platforms: iOS, Android.
3. Monefy
Another extremely simple and intuitive service with a minimalistic design for those who are just starting to keep track of income and expenses, understanding candlesticks Forex to get an additional source of income, and are looking for the most simple interface. The application supports the ability to synchronize on multiple devices at the same time, which allows you to register expenses and income in any convenient place.
On the main screen, a customizable expense ring is immediately displayed, in which you can set the display of expenses for the day, week, or month. The ring automatically displays all categories, by clicking on which you can get more detailed information about when and where the money was spent. Like other apps, Monefy has a budget planning feature.
Unfortunately, some features (for instance, setting a separate password for accessing the application) are only available after purchasing the paid version.
● Level of financial literacy: initial.
● For whom: for beginning traders and investors, for those who manage the family budget.
● Platforms: iOS, Android.
4. Easyfinance
Application for more advanced users. Easyfinance has many features and capabilities, but far from the simplest interface, you will have to try hard to understand all the intricacies.
One of the features of the application is the ability to synchronize with Google Calendar, which allows you to plan expenses more accurately, set aside money for a specific date (for instance, for a holiday), and set new financial goals. In Easyfinance, you can set limits and clearly track the dynamics of spending, add several sources of income, including Forex trading, and form the main items of expenditure. Besides, you can add a password to the application to further protect all financial and budgeting information.
● Level of financial literacy: average.
● For whom: for those who have several sources of income.
● Platforms: Web, iOS, Android.
5. Good Budget
One of the most feature-rich budgeting apps for advanced users with a high level of financial literacy. With the help of Goodbudget, the user can set planning periods and the exact dates from which they begin, determine the budget for a clearly defined period, create new expense items and plan limits for them. Besides, up to five people can do all this at the same time! A great way to involve the whole family in economic planning.
● Level of financial literacy: high.
● For whom: those who have already dealt with financial planning and clearly know what and how much they spend.
● Platforms: Web, iOS, Android.
Conclusion
All these applications are great helpers for building a budget. But you can also keep track of your income and expenses simply using internet banking applications — they constantly undergo security checks from bank employees, register all card transactions, and also independently categorize most of the expenses and income.
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