Super Split

The Best Budgeting Apps of 2021 | SuperSplit

Does the word ‘budgeting’ make you yawn? Setting up a budget is very important, but more often than not, it can be overwhelming, time-consuming, and let’s face it, boring!

However, over the past few years budgeting apps have gained steady popularity, and for good reason, too. They allow users to easily track their spendings and manage their money with ease.

There are an overwhelming number of apps in the market that can help you track your financial spendings. So we’ve curated a list of budgeting apps that best suit your needs.

Goodbudget

If you’re staying with your family, then try out the Goodbudget app. This is a budgeting app based on the traditional envelope budgeting system. It provides families the opportunity to manage their money together.

Goodbudget allows users to stay on top of their spendings through real-time tracking of their expenditures. Customers can also sync their data across various Android and Apple devices making it easy for each household member to have access to the same figures.

Pros Cons
Free version available
It does not allow users to connect their accounts with financial institutions.
The interface is easy to use.
It requires a fee to unlock the Plus version.
Price
Freemium
Availability
App Store and Google Play Store
Ratings
  • Google Play Store: 4.5
  • App Store: 4.7

Monefy

If you’re looking for a financial organiser and a financial tracker, then Monefy is the budgeting app you need to download.  Its simple user interface makes it a popular choice among customers that are on the hunt for the best app.

Users just need to input the amount spent and the app automates their expenditures. It also allows the option to compare your monthly income to your spendings. It offers features such as a built-in calculator, passcode protection, multiple currency support, widgets, and more.

Pros Cons
Secure; does not ask for your bank details
Poor web support; the website does not offer the same features as the app
It’s designed to be user friendly
Requires a monthly fee to unlock the Pro version
Available on all device versions
Exchange rates are not converted automatically
Price
Freemium
Availability
App Store and Google Play Store
Ratings
  • Google Play Store: 4.5
  • App Store: 4.8

SuperSplit | Split Bills and expenses with flatmates

SuperSplit is an Indian-made expense tracking and management app that is tailor-made for millennials and Gen-Z. It has been designed to eliminate the awkwardness behind the whole bill-sharing experience.  

Although this app is fairly new to the market, its features such as automatic payment reminders to friends, UPI payment support, and allowing users to split by amount, percentage, shares, etc. are making it an increasingly popular choice among youngsters.  

You can split expenses with just about anyone using the app. Track all kinds of group expenses such as vacation expenses, rent, house party expenses, WiFi charges, Netflix subscriptions, grocery bills, etc.  Its unique user interface makes the app fun to use.

You can add funky avatars to your profile and create groups with your friends and family!

Pros Cons
UPI payments can be made that directly get updated within the app.
Currently, users do not have the option to transfer their data directly to Excel sheets. However, this feature will be added soon.
You can customize and automate payment reminders.
A proud Indian Product that understands the nuances of the Indian culture.
Price
Free
Availability
Google Play Store
Ratings
Google Play Store: 4.8

MoneyManager

Looking for an effective budgeting app? MoneyManager is your go-to tool. This app offers a more visual experience than most other apps without using the typical financial jargon. It is yet another popular app among amateurs and securing a spot on this list. 

MoneyManager also allows you to upload pictures alongside the amount you’ve spent which could be useful if you need to provide receipts for work. Additionally, it grants users the option to export their data to an excel sheet and provides password protection, making it secure. 

Pros Cons
Provides detailed analysis of your expenditures
Requires a monthly fee of 390 INR to unlock the Pro version
You can access the pro version for free with a Google Play Pass
The free version is supported by numerous advertisements inhibiting the flow of the software
Price
Freemium
Availability
App Store and Google Play Store
Ratings
  • Google Play Store: 4.7
  • App Store: 4.8

Wallet

Wallet is a cool budget tracking app that provides unique suggestions to any of your financial turbulence. Just like many other fin apps, it automatically syncs your transactions and finances with your bank information.  

It also allows you to allot money for your goals and share your account with your colleague, loved one, or just about anyone you’d like. Cloud syncing, multi-currencies support, curating shopping lists are features that Wallet also offers.  

It’s worth mentioning that they also have a small game called ‘Was It Worth It’ that aims to make users more conscious about their spending habits.

Pros Cons
Customisable: you can adjust your spending categories to suit your needs.
The free version requires you to manually input your spendings.
It uses passcode protection.
The free version only lasts for a trial period of 14 days.
You can share your financial statistics with ease.
Transactions are not updated in real-time, they are only updated once every 24 hours.
Price
Freemium
Availability
App Store and Google Play Store
Ratings
  • Google Play Store: 4.7
  • App Store: 4.4

Bluecoins Finance

Bluecoins is a free Android app that aims to make managing your financial accounts fun with its quirky features and bright visuals. Its user interface makes it easy for anyone to navigate, from beginners to seasoned finance professionals. When users download the app, it provides a demo similar to a finance crash course for first-time customers to help familiarise them with the world of handling their finances. 

The app also has a unique travel feature. It helps customers record expenses and automatically converts currencies when using this mode. Additionally, it permits you to upload images of your receipts to help you be a more conscious consumer!

Pros Cons
It is entirely free, there is no monthly subscription charge.
You have to manually enter your transactions as it does not use a bank log-in.
Under development, the developers frequently roll out updates.
Only one account can be used at a time.
Price
Free
Availability
Google Play Store
Ratings
Google Play Store: 4.7
Price Pros Cons Availability App Ratings
Goodbudget
Freemium
Free version available –The interface is easy to use.
It does not allow users to connect their accounts with financial institutions. – It requires a fee to unlock the Plus version.
App Store and Google Play Store
  • Google Play Store: 4.5
  • App Store: 4.7
Monefy
Freemium
Secure; does not ask for your bank details. It’s designed to be user friendly Available on all device versions
Poor web support; the website does not offer the same features as the app Requires a monthly fee to unlock the Pro version Exchange rates are not converted automatically
App Store and Google Play Store
  • Google Play Store: 4.5
  • App Store: 4.7
SuperSplit
Free
UPI payments can be made that directly get updated within the app. You can automate and customize payment reminders. It is a product made in India that understands the nuances of Indian culture.
Currently, users do not have the option to transfer their data directly to Excel sheets. However, this feature will be added in the near future.
Google Play Store
  • Google Play Store: 4.8
Money Manager
Freemium
Provides a detailed analysis of your expenditures. You can access the pro version for free with a Google Play Pass.
Requires a monthly fee of 390 INR to unlock the Pro version The free version is supported by numerous advertisements inhibiting the flow of the software.
App Store and Google Play Store
  • Google Play Store: 4.7
  • App Store: 4.8
Wallet
Freemium
Customisable: you can adjust your spending categories to suit your needs. It uses passcode protection. You can share your financial statistics with ease.
The free version requires you to manually input your spendings The free version only lasts for a trial period of 14 days. Transactions are not updated in real-time, they are only updated once every 24 hours.
App Store and Google Play Store
  • Google Play Store: 4.7
  • App Store: 4.4
BlueCoins
Free
It is entirely free, there is no monthly subscription charge. Under active development, the developers frequently roll out updates.
You have to manually enter your transactions as it does not use a bank log-in. Only one account can be used at a time.
Google Play Store
  • Google Play Store: 4.7

With so many well-developed apps out there, it’s hard to only pick the best app. So, here are our honorable mentions that you should check out!

Walnut

Walnut is a free money managing app that is available on both Android and iOS devices. It provides detailed charts of your spendings and sends your finance alerts via SMS.

Mvelopes

Mvelopes digitised the envelope method used decades ago. It allocates your monthly spendings on essentials into small categories and allows you to refill the category only once you receive your salary.

Mint

Mint is a popular app used by people that want to get their overall expenses on track. The app studies and analyses your habits and makes suggestions to where you can practice saving more.

mTrakr

With one of the most simple and easy-to-use interfaces, this app is ideal for beginners. It keeps a daily track and creates a monthly report of your finances to help you identify areas that you could cut down on.

EZ Financial Calculator

This app does all the math for you. It calculates your investments, taxes, loans, and much more. It also allows you to share your calculated results with ease, making it ideal for customers that share financial accounts. 

How does Budgeting App help in daily life?

Do you ever get nervous before checking your bank balance? Maybe you haven’t kept track of the number of Uber rides you took this past month? Or had too many nights of binge online-shopping and now you’re not sure of what the digits in your account look like? Well, likely, you haven’t fully committed to the world of budgeting; which is completely understandable.  At first, it may seem daunting or even overwhelming. However, it is important to keep track of your expenses and make the necessary adjustments to be financially responsible. It is tough to do so without a plan. Hence, specific apps make this process as simple as possible. They help categorize your expenditures, track payments, send automatic updates, and provide a detailed analysis of your finances.  It’s easy to get carried away with buying a few inexpensive items every day. But people often fail to realize that these purchases add up to a considerable amount of money spent. These apps automatically monitor your expenses to ensure you stay on track with your financial goals.  With an abundance of options available along with this list, you now have no excuse to not stick to your financial plan!

Should I go for a paid budgeting app or a free one?

Apps that require a monthly subscription fee often offer features and tools that provide a detailed and holistic method to taking care of your finances. They usually offer features such as adding unlimited accounts, syncing with numerous devices, password protection, multi-currency support, and much more. Such tools would be ideal for a consumer that shares an account with someone else or finds it difficult to maintain their accounts when traveling.  If an app is free, it is an evident opportunity to save some money. If you only require basic features, this option would be the ideal choice for you. However, just because an app is free does not mean that it’s an inferior choice. Based on your needs and how detailed your finances are should you consider paying a subscription fee. 

Features to look out for in a budgeting app?

It is important to ensure that the app you use helps you manage your finances well and holds you accountable for your spendings. With an overwhelming number of options available, it can be easy to get lost when looking for the app most suitable for your needs. Try to keep an eye out for the following features when making your decision!
  1. Device Compatibility Cross-check if the app is compatible with the devices you own. This would come in handy if you are interested in syncing your data across different accounts and devices.
  2. Customization Everyone’s needs are different. The app you choose should be flexible enough to give you the option to customise your data according to your spending habits. Although built-in categories often cover essentials, having the freedom to make the changes you desire would help you manage your finances more efficiently.
  3. Security As a customer using a financial service, you must be aware of the app’s safety and security features. Finance apps often ask for your bank details to automatically track your spendings. However, you should make sure the app you choose offers protection against theft or fraud.