Managing personal finances and occasional lending requirements has never been easier with mobile apps allowing people to balance their checkbook, organize their credit card payments, and manage personal loans. Here are a few solutions for managing personal finances that work for either Android, iPhone, or both:
HomeBudget for Android / iOS
HomeBudget for Android and iOS is particularly good for those people who need to inject a sense of fun into their finances. The main app screen displays the Expenses, Bills, Income, Budget, and Accounts with their own color scheme. There are colorful bar and pie charts galore with this app.
Mvelopes for Android / iOS
Mvelopes for Android and iOS uses the popular envelope system where virtual cash is taken out at the start of the period and placed in separate envelopes. Once the cash is all spent in the category a virtual envelope represents, the spending stops. This approach is an excellent way to better manage categories of spending through the month and ensure you don’t overspend on your budget.
The app can link to 1-4 online accounts. Budgets can be created for what to spend and what to save. They can be setup for both spending and savings goals too. The free version includes support for 4 accounts and 25 categories, whereas the affordable paid version removes all limits.
You Need A Budget for Android / iOS
The You Need a Budget (YNAB) app for Android and iOS has already developed a bit of a rabid following. There is a desktop version available for several platforms which can then sync to the mobile app. The premium desktop app is required to use the free mobile apps.
YNAB works on the basis of giving every dollar a name before it is spent. It can also combine this with zero-sum budgeting which allocates income received the previous month for spending this month, which gets users out of living paycheck to paycheck. This dual level of control has led to many success stories.
Mint for Android and iOS
Mint for Android and iOS from Intuit can track income and expenses pretty well. Add American bank accounts and credit cards, then sync the statements directly into the ledgers to save time.
The app is more complex than some others, so anyone looking for something more basic will want to look elsewhere. However, for a more detailed financial position whilst providing excellent charts and analysis, Mint is a solid choice.
Ledge for Android and iOS
Ledge which has apps for Android and iOS offers a different way to manage personal loans. Rather than going to a bank requesting a loan, this app lets a user request a personal loan from friends.
The setup works a little like crowdfunding for individuals where a request can be raised for an amount of money to fund a specific goal. Friends can then confirm how much they are willing to support this goal. Depending on how many friends you have and how willing they are to help, it may be an easier way to put together much needed cash for a project.
It is easy to manage personal finances and loans through mobile apps if you know where to look. Hopefully, this collection of personal finance apps will point you in the right direction.