Five Best Mobile Apps for Managing Finances In 2021

To handle the finances, more and more of us are using mobile apps. It's still possible to keep track of your finances using a pen and paper, but apps assist reduce paper clutter and can be a far more convenient way to do it. In addition, apps can make managing your finances easier and help you see where you're making mistakes. Tapadoo's chief executive, Dermot Daly, one of Ireland's most successful app developers, believes that money management apps are going to explode. New 'challenger banks' do not have brick-and-mortar locations but instead have an online and increasingly app-based presence. In addition to offering new services such as money management, these banks are focused on the user experience. In this article, we have jotted down the details about five top mobile apps that you can use for finance management. So read and find out about these apps.

Five Top Mobile Apps for finance management

Below are the best mobile apps for managing finances:

Splitwise

Using Splitwise, you'll be able to maintain track of your bills and expenses. This app is particularly useful for housemates and friends who need to split expenditures. Any number of charges may be incurred, from rent and utilities to groceries and even a group of friends' tab at a restaurant; everything can be recorded in this software. The software maintains track of who has paid and who hasn't paid their portion of a bill. This is one of the top mobile apps in the list of five top mobile apps for finance management. 

There is a paid version of Splitwise called Splitwise Pro, which provides additional capabilities such as receipt scanning and larger cloud storage.

Bullet

You may store and track your receipts with the bullet app instead of keeping them in your wallet or shoeboxes around the house. Through Bullet HQ's free online accounting software, freelancers and small enterprises can access this data easily. A well-known computer specialist, Damien Mulley, recommends this program.

To keep track of all your receipts in one spot, you can use Bullet to take a photographed receipt. In addition to reducing the clutter of paper receipts, Bullet is a convenient way to keep track of the expenses you can deduct from your taxes. As one of the few apps that has Irish taxation and accounting standards incorporated into simple processes - automating Irish tax returns - this program is the best app for managing finances. Bullet is available for free; however, extra add-on apps are available for purchase.

Revolut

Revolut is a service that provides app-based banking and debit cards in over 130 countries. This is among the best apps for managing finances. It lets you build a current account and conduct money transfers to bank accounts. You may also keep and manage up to 24 currencies on the app, along with setting up recurring bill payments, so invoices are paid in a timely manner.

Revolut believes it can help users save on charges from the banks and on currency conversions. In addition, Revolut's free basic account differs from the subscription-based premium and metal versions.

For customers who use the premium and metal account types, the app offers free disposable virtual cards to boost their card security. The systems in the application immediately detect transactions made with a disposable virtual card and instantly delete the card details. Instantly the new card is issued, and all the details are sent in the application. Customers have another level of protection from online card theft with this new layer, especially if they make many online payments on a regular basis.

Withdrawals from the current account are allowed up to €200 per month without charge. Still, withdrawals of over €200 per month will be charged €2 for every €100 withdrawn. To acquire the card, you spend €6, unless you pay extra to have it earlier than nine working days.

Most Apple Watch, iPhone, iPad, and Android phones function on the Revolut app.

Revolut does not yet have a banking license, so remember that it is not a bank. Revolut members will also not be protected by the Irish deposit guarantee scheme, which is in place to guarantee that a bank, building society, or credit union (all of which must be authorized by the Central Bank of Ireland) will pay back deposits in the case of insolvency. All EU-authorized banks offer deposit protection programs.

As such, the British Financial Conduct Authority (FCA) regulates Revolut, and it must abide by all of the FCA's requirements. Lloyds or Barclays holds all of Revolut's client funds in a segregated account. Revolut's website promises that if the company goes bankrupt, customers can get their money out of a separate account and will be compensated first.

Revolut plans to use its Lithuanian banking license to gain licenses in other European countries. Revolut will be able to provide the customers with debit authorizations, overdrafts, deposit interest, and personal loans. Additionally, the London offices will always be the headquarters, no matter what complications may arise.

You need a budget

You Need a Budget app is an ideal option for anyone who wants to get a handle on their debt, save up for a significant purchase, or grow better at managing their budget. It can also assist you in being more cognizant of your financial decisions and more disciplined with spending. This is regarded as one of the best budgeting apps in this list of five top mobile apps for budget management. The program evens out the monthly and irregular expenses that are associated with your financial year (including regular bills and irregular charges, such as birthdays and annual auto insurance). The YNAB app has a free trial for the first 34 days, but a year-long membership comes after that. 

Home budget

While somewhat similar to Splitwise, the Home Budget with Sync software is designed for families rather than housemates sharing an apartment. This serves to assist families in checking up on their spending, income, and bills. This is helpful in calculating disposable income for a household, along with budgeting for several expenses like electricity, groceries, and so on. This is one of the best personal finance apps that you can use. The Family Sync function allows family members to share their spending and income information with one another, allowing them to work together within a single budget. Unfortunately, this application is not accessible free of cost.

Five best mobile apps for managing finances: Bottom line

So these were the five top mobile apps that you can use for managing all of your finances. These mobile apps are easy to use and can be used by anyone who has basic knowledge. Before using any of the mobile apps, make sure that the app is safe to use and does not forbid any security standards.