Our top 4 free budgeting apps

Budgeting blues? Here are four apps that will help you smash goals and conquer your finances like a boss.

Budgeting blues? Imagine if there was an app that could track your income and expenses, help you gain insight into your spending habits, set spending limits and assist you in reaching your financial goals? Well, there is one – more than one, actually! Here are four apps that will help you smash goals and conquer your finances like a boss.

All apps are available on Google Play and the App Store. 

1

MyFinancialLife

This comprehensive financial management app, created by Nedbank, is designed to help you to effortlessly track your income, expenses, and savings goals. With personalised insights, budgeting tools, and expense categorisation, it empowers you to take control of your finances. Not only does it cater for individuals, but it also offers the convenience of linking family members’ accounts onto a shared dashboard, enabling seamless budgeting and future planning for the entire household. Small-business owners may also find this tool useful in managing their company’s financial affairs. 

2

22Seven by Old Mutual

Created by financial services provider Old Mutual, 22Seven is a budgeting and investing app that houses your bank accounts, investments, loans, store cards and cryptocurrency all in one place. The app creates a personalised budget based on your actual spending, which it gathers from analysing your bank transactions. You have the option of setting limits for each expense category, which will help you avoid overspending. 22Seven is partnered with all major South African banks, so you can rest assured your personal information is stored safely and securely.  

3

MyMoney

MyMoney is a user-friendly personal money manager and budgeting app designed to help you effectively manage your finances. With its intuitive interface and helpful features, the app allows you to track your expenses, understand your daily spending habits, and efficiently save money. This comprehensive finance manager goes beyond being a mere spending tracker, offering budget planning, intuitive analysis, informative charts, and other valuable tools to make it a complete personal finance management solution. Managing your money and tracking expenses with MyMoney is a breeze – simply add an expense record whenever you make a purchase. 

4

Goodbudget

Goodbudget follows the envelope budgeting system, inspired by the Japanese method called kakeibo, which translates to ‘household account book.’ This system helps you allocate specific amounts of money to different expenses and provides insights into your monthly savings. By using this approach, you can easily track your expenses and gain a clear understanding of your saving habits. With many people today switching to cashless payments, the app has come up with a modern-day solution by mimicking kakeibo with digital envelopes. The app also offers reporting tools such as easy-to-read graphs that help you show your income against your spending, and how it varies month to month. Goodbudget provides two plan options: a free version and a paid subscription called Goodbudget Plus. With the free version, you can enjoy the majority of the app’s functions without forking out any money.