Many people struggle with financial responsibility. To help you out, there are many great apps to track your spending habits.
You need to find one that gives you features that will streamline the logging of your expenses. There are a few apps that we think do this well.
So let’s look at the two options that we think will have what you are looking for, namely, PocketGuard and Wally.
PocketGuard
The PocketGuard app is a financial app that helps you manage your personal spending habits.
It can help you track transactions, bills, and savings. This can help to maintain your budget and keep you aware of any potential fraudulent charges.
Features
- In my pocket – shows how much money you have left to spend after bills
- Transaction tracking through categorization
- Tracks transaction postdates, export transactions
- Can use hashtags to categorize transactions
- Uses easy to read pie charts
- Set goals easily
Pros
- Free to use
- Uses features for free-spending
- Efficient spending limit tools
- Premium allows cash transaction tracking
Cons
- Does not offer phone support
- Not a strong referral program
- Only available in the mobile app
- Financial info used to generate ads and marketing emails
- Only available in Canada and US
Tips
This app is pretty simple and streamlined, so there is not a lot of room for tips and tricks to make it work better.
The biggest tip is to take your time and really include everything you typically have coming in and going out.
One thing you can do is make sure to utilize hashtags to really make your category’s more customized.
Who Should Use It
This app is great for those that are struggling to make the money match what you are spending.
It is a great tool to tighten your budget and meet all those financial goals you have been looking to achieve.
Cost
There are two tiers to choose from - free and the paid PocketGuard Plus membership.
PocketGuard Plus - $3.99/month or $34.99/year
When you choose this option, you get the base features along with the following features.
- Track cash transactions
- Log cash bills
- Ability log ATM withdrawals
- Ability to add multiple pockets
How to Download & Use
You can head over to the website or either the Apple store or Google play store and download the app.
When that is done, you will input your information and link accounts to that.
Then you will be able to track transactions and expenditures so that you can monitor your budget more carefully.
Download the app for Android and iOS here.
YNAB
YNAB (You Need A Budget) is a personal finance app that focuses on zero-based budgeting, encouraging users to give every dollar a job.
It helps track expenses, plan budgets, and build better financial habits by providing insights into spending and saving goals.
Main Features
- Zero-Based Budgeting
- Goal Tracking
- Real-Time Sync
- Bank Integration
- Debt Payoff Planning
- Detailed Reports
- Customizable Categories
- Education & Support
Pros:
- Effective budgeting method
- Goal tracking
- Real-time sync
- Comprehensive reporting
- Debt management tools
Cons:
- Monthly subscription fee
- Steep learning curve
- Manual input needed
- Limited investment tracking
- No bill pay feature
Tips
Here are some tips that will help you enhance your usage of this app.
- Ensure all transactions and expenses are recorded daily or weekly.
- Set clear savings or debt repayment goals to stay motivated.
- Tailor budget categories to fit your specific financial needs and lifestyle.
- Regularly review detailed spending reports to identify areas where you can cut costs.
- Use YNAB’s tutorials and workshops to improve your budgeting skills.
Who Should Use It
YNAB is ideal for individuals who want to take control of their finances and focus on budgeting to eliminate debt or reach savings goals.
It's especially useful for those who prefer a structured, hands-on approach to managing money and are willing to commit time to actively update and track their finances.
Cost
- Monthly Plan: $14.99 per month
- Annual Plan: $99 per year (equivalent to $8.25 per month)
They also offer a 34-day free trial for new users to test the app before committing to a subscription.
How to Download & Use
To download and use YNAB, go to the official YNAB website or visit the app stores for iOS or Android.
Sign up for an account, and you'll get access to a 34-day free trial. Once installed, connect your bank accounts, create a budget, and start tracking your expenses right away.
Summary
In summary, PocketGuard offers a simple, automated way to track spending, while YNAB provides a more detailed approach with its zero-based budgeting system.
Both are excellent tools depending on whether you prefer automation or hands-on financial control.
