Daily spending habits and the budget tracker

As a college student, you will probably spend more time studying and experiencing different aspects of your college life than working and earning money. However, there are lots of expenses that come along with college life including tuition fees, books, bills, and so on. For this reason, knowing how to manage your money is one of the most valuable skills you should learn. Since making a long-term financial plan requires more time, commitment, and effort, one simple thing that you could do in five minutes to manage your money is tracking your daily spending habits. Tracking your daily spending habit helps you understand what you spend money on and how much you spend, and thus it will give you a clear picture of where your money is going and whether you want to cut your spending back.

Thanks to technology, there are many expense tracker apps that help you manage your money during your everyday routine. These apps can track your expenses, create a budget, and set up your saving goals. You can also set up your budget alert so that you will know whenever you go over your budget. Here are five expense tracker apps that are free to use and available on IOS and Android platforms for you to try!

Mint

Pros:

• Syncs to your bank accounts and credit cards.

• Provides access to your TransUnion credit score.

• Bill payment reminders.

Cons:

• In-app product advertisements.

• Complaints about expenses assigned to the wrong category.

Dollarbird

Pros:

• Uses Al technology to learn over time and make categorization easier.

• Includes a calendar-based interface to help visualize your transactions.

• Has the option to collaborate with your partner, family members to manage together.

Cons:

• No links to bank accounts and credit cards.

• Complaints about technical issues.

Pennies – Budget and Expenses

Pros:

• Instantly syncs across all your IOS devices (iPhone, Watch, and iPad) via iCloud.

• Adds your expenses and transactions straight from your home screen using 3D Touch Quick Actions.

Cons:

• No detailed history of your transaction and the app does not recognize transactions that belong to previous months.

Pocket Guard

Pros:

• Uses 256-bit SSL encryption to ensure your sensitive information is safe and sound.

• Offers educational blogs and you can cancel when you no longer want or need them.

• “In My Pocket” feature uses an algorithm to identify exactly how much money you can spending based on your income, upcoming bills, and your financial goals.

Cons:

• Pocket Guard Plus version costs $34.99 per year.

• No phone support.

Spendee

Pros:

• Data is displayed in simple infographics, stylish graphs, and clever insights.

• Provides Dark mode, which is an eye-friendly environment.

Cons:

• Complaints of the app being buggy.

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In conclusion, keeping track of your daily expenses will help you identify what you are spending money on and how much money you are spending each day. Little purchases, such as morning coffees, can add up; therefore, keeping you accountable for every dollar you are spending is critical for your financial journey. Let’s try one expense tracker app to start managing your money and establishing your smart spending habits!