Super Split

Daily Expense Tracker Apps

Most people are not able to handle unexpected financial expenses like sudden medical surgeries, car repair, job loss, etc. All these situations arise due to lack of money management skills. We do not track our expenditure for the month which gives us false expectations about our savings. To avoid such scenarios we need to actively track our expenses regularly but that can be a tedious task.

This is where technology has come to our rescue in the form of a daily expenses app that tracks all your expenditure and gives you detailed information regarding it. The daily expenses app help us see an overview of our expenditure so that we can improve our spending habits.

So let us check a list of the best apps for expense tracking and find out which one is the most effective.

Expensify

Expensify is a high-end expense manager app. It provides its users with multiple features, including third-party integrations and working on extensive workflows. Its optical character recognition (OCR) which is used to convert the receipt pictures into expenses on the report is one of the best in the market. With the help of its third-party software integration, it can log expenses of receipts that are on Dropbox, Evernote, email and credit cards. With such a large inclusion of expenses, the report is robust and provides you with an actual overview of the financials along with in-depth analytics. This is a perfect expense tracker app for mid-sized corporations.
Pricing details
  1. For Individuals
    • Track plan = $4.99/month
    • Submit Plan = $4.99/month
  2. For Groups
    • Collect plan = $5/ month
    • Control plan = $9/month
Platforms
iOS, Android
Features
  • It has the capability to integrate third-party software to improve expense management.
  • It uses GPS to tracker mileage and add it to your travel expenses
Rating
  • iOS = 4.7
  • Google Play Store = 3.5

Concur

Concur is a daily expense tracker best suited for businesses. Recently taken over by SAP, in 2014, they have launched a mobile application that gives users multiple categories according to their business types. From expense reports, approvals, requests, etc. and like any other expense manager app you can click a photo of receipts and add them onto the report using OCR technology. It is still a fairly new app and more updates are about to come.
Pricing details
Per-report = $8. Approximately $994/year or 82.90/month.
Platforms
iOS, Android
Features
  • Its extensive expense system makes the reading of receipts and generating reports based on them very easy to read
  • It also has the means to calculate mileage for travel expenses.
  • The app compares expenses charged to a card with the listed receipts.
Rating
  • iOS = 4.7
  • Google Play Store = 3.9

Wally

Wally is the most basic of all the money management applications. Its goal is to make transactions paperless so that its users do not need to carry physical receipts for tax and budgeting purposes. All you need to do is click a photo of the receipt and upload it to the application. The rest will be taken care of by Wally.

Pricing details
  • Free version
  • Wally GOLD = $24.99/year or $1.99/month
Platforms
iOS
Features
  • Simple and easy budgeting methods
  • Sync your bank accounts and maintain financial clarity
  • Set up financial goals and wally helps you achieve them
Rating
iOS = 3.9

Quickbooks self-Employed

Quickbooks self-employed is one of the best app for expense tracking and it is part of the very famous Intuit corporation which was behind the money management software, ‘mint’. With the help of its unique and easy to navigate user interface, it has gained popularity amongst the daily expense tracker apps. It has the ability to track mileage using GPS and according to your expenditure and savings, estimate your quarterly income tax. In addition to all this, it also has a good support system if you ever run into trouble.

Pricing details
Self employed = $7.50/month

Self-employed Tax bundle = $12/month

Self-employed live tax bundle = $17/month
Platforms
iOS, Android
Features
  • Easily import transactions from bank accounts, PayPal, etc.
  • Automatic segregation of expenses into different categories.
  • You have the ability to share your expense reports
Rating
  • iOS = 4.7
  • Google Play Store = 4.1

* As of 26/03/21, the price was at a 50% discount

Freshbooks

This daily expense tracking app is like every other app but with an extremely user-friendly interface. This app has shredded down all the unnecessary statistical data representation and gives its users easy to understand statistics so that they can apply that in their real life and improve their expenses. From uploading receipts to making reports, keeping in mind the taxes, this app has it all to become the best app for expense tracking.

Pricing details
  • LITE = $4.50/month
  • PLUS = $7.50/month
  • Premium = $15/month
  • Select = custom pricing
Platforms
iOS, Android
Features
  • card once and the app will keep the record of your expenses up-to-date always.
  • All categories are made keeping in mind the tax filing of respective categories.
  • Use of extensive charts to show an overview of the expenditure.
Rating
  • iOS = 4.8
  • Google Play Store = 4.5

Zenmoney

Zenmoney has a very unique feature when compared to other daily expense tracker apps. It has the ability to read transactions through your text messages making your life simpler instead of manually adding it. It works on mobile devices as well as the web which makes data synchronization between these platforms convenient. Apart from just making reports and logging transactions, Zenmoney also suggests ways to improve your savings and reduce useless expenditures.

Pricing details
  • Free trial of 15 days
  • Monthly = Rs 130
  • Yearly = Rs 1,050
  • Lifetime = Rs 2,000
Platforms
iOS, Android
Features
  • Manages domestic economy by separating budgets for each activity.
  • Analyses your earnings and predicts the nature of your expenditure for the future.
  • Alerts you about recurring payments.
Rating
  • iOS = 4.8
  • Google Play Store = 4.5

Mint

Mint has been known for a long time now. It is a well known daily expense tracker app and has been voted the best financial management app in recent times. Because of its multiple platform integration, it gives you the ability to share between multiple devices based on your needs. The money management system is very rigorous and extremely popular. It provides constant reminders to its users when the date for bill payment nears. For all these features all you need to do is sync your bank account and the application takes care of the rest.

Pricing details
1st month is free but subsequently, a fee of $6.99 is charged every month.
Platforms
iOS, Android
Features
  • Sync all your bank accounts to get an overview of your finances
  • Set financial goals
  • The application’s extensive debt repayment methods are very effective to make you debt-free
Rating
  • iOS = 4.8
  • Google Play Store = 4.1

Mvelopes

As the name suggests, this app works on the principle of envelopes. You assign a specific budget to the envelope and you stick to it. If you want further control, you have the option to customize it according to your needs. As you strictly follow the set budget for different categories slowly you will come out of your debt or any other financial situation.

Pricing details
Mvelopes Basic = $5.99/month

Mvelopes Plus = $18.99/month
Platforms
iOS, Android
Features
  • Creates different envelopes which are assigned a specific budget. 
  • The robust algorithm of the app helps you devise a path through which you can reduce your expenses & become debt-free
Rating
  • iOS = 4.4
  • Google Play Store = 3.1

YNAB

YNAB stands for You need a budget. The application does a really good job of assisting you with it. It really stands apart from all the other financial management apps. With its extensive financial planning, you will be debt-free soon. The company also claims that on average the new user saves $600 in the first two months of using the app and hence its popularity.

Pricing details
1st month is free but subsequently, a fee of $6.99 is charged every month
Platforms
iOS, Android
Features
  • Sync all your bank accounts to get an overview of your finances
  • Set financial goals
  • The application’s extensive debt repayment methods are very effective to make you debt-free
Rating
  • iOS = 4.8
  • Google Play Store = 4.1

Supersplit

Supersplit has a more fresh and aesthetical app layout which makes it an eye-pleaser. The main feature of the app is to help you split the money among the group in various scenarios, whether it be a cab ride or settling bill at a restaurant or even the house rent. You also get constant quirky reminders from the app about the money you owe to people. This removes the awkwardness about approaching a person and asking him for money face-to-face. To make it even more convenient you can pay using the in-built UPI payment gateway. Just create a group by adding people from your contacts, mention the total expenditure and split it according to your needs.

Pricing details
Free
Platforms
iOS, Android
Features
  • Create groups and easily split amongst them
  • You can split according to a percentage, by shares or just divide equally
  • Easy settling of dues through UPI payments gateway in the app
Rating
  • iOS = 4.7
  • Google Play Store = 4.6

What is the best app to keep track of bills?

For everyone money plays an important role in their lives and so does while selecting the best amongst the top list of daily expense tracker apps. Taking into account the ratings and pricing of various expense tracking apps, I would recommend, ‘Supersplit” because of its easy to navigate interface and it covers all the necessities of an expense tracker app without charging its users’ extra money.

Why use an expense tracker app?

Expense tracker apps help you understand your spending habits by breaking them down into several categories. This gives us a definite idea as to where we are spending money and whether it is worth it to spend that amount or not. If we decide to cut down on our spending we eventually increase our savings and remain inside our budget.

How much does an expense tracker app cost?

There are multiple variations in the category of expense tracker apps as of now. We have many free apps like Supersplit, mint, etc. some provide you with their basic features for free but charge a small fee if you want to access their premium features. These cost you around $3-$7 range While these are good for individuals and small businesses, other apps that are made for the purpose of big corporations are completely paid. These start at $10 and can go onto prices like $80. (all prices are per month).

Is an expense tracker app worth installing?

Expense tracker apps help you keep your expenditure and financial information 24/7 accessible through your smartphone. Now no longer will you have to keep all those receipts physically for months. Just click a picture and upload it on the app. Now filing invoices or generating expenditure reports has become extremely easy. So now you can sit back and enjoy while the apps do your tedious work.

What is the best way to select an expense tracker app?

For finding the best expense tracker app you first need to find out a few things. Firstly do you need it for yourself or an individual or for a small business. After you answer that question you should decide on the reason why you need it. It can vary from becoming debt-free to strictly follow an assigned budget, etc. Based on these factors and taking into consideration, the ratings you can decide which app is best for you.

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