When you are a college student, pretty much every dollar counts. Not only do you have to pay for your tuition, rent or commute, food, and textbooks, but you also need to have some money to have a decent social life. Also, there are always some emergencies, such as getting an essay writing service to help with your paper or upgrading or fixing your laptop. But how do you manage and save money on a budget that is already spread thin? The answer comes in the shape of different budgeting apps.
Budgeting apps can help you form reasonable spending habits, and determine where most of your money goes, as well as what you can do to set some aside each month. With that in mind, let’s take a look five best budgeting apps every college should check out.
With EveryDolar, you will be able to see exactly how each penny of your budget is being spent. This app enables you to input all the money that comes into your pocket or bank account, whether it’s from your parents, your investments, or your part-time job. By doing this month and after month, and putting your money where it’s most needed, you will be able to get a pretty good idea about how you can also save some money.
This is especially useful if you don’t earn an equal amount each month, because you will be able to put some of the funds aside as a buffer. Another useful thing about EveryDollar is that it provides you with useful budgeting insights, not just from the app itself, but also through emails that they send and posts that they publish on their blog.
It’s impossible to put together a list of best budgeting apps without including Mint on it. It has consistently been one of the most popular apps of this type for the past few years, and once you start using it it’s easy to see why. With Mint, you can link all your bank accounts in one place. The app then keeps track of all of your transactions, as well as all the purchases you have made, which saves you the trouble of entering them manually.
Also, it comes with notifications that let you know when it’s time for you to pay your bills, as well as if you have less money than originally planned at that particular moment. Spending less is more than feasible if you decide to use Mint.
Another budgeting app that warrants your attention is GoodBudget. Unlike some of the apps on this list, this one doesn’t link to any of your bank accounts. Instead, it enables you to create an envelope system, through which you can allocate your income to a number of different categories, each having its own envelope. Obviously, this is the digital version of the system which has been around forever. Once your money has been divided among these envelopes, you will be able to account for each expense.
You need to do all of this manually, which might actually be an advantage, since it requires you to keep your spending in check more often.
If you have a roommate, and it’s very likely that you do given today’s rent prices, you need to be able to keep track of all the shared costs. In other words, everyone needs to make sure that they pay their share. Splitwise is probably the best budgeting app for people that split their expenses, such as rent, utility bills, or even food. Keeping track of your balance and various costs is pretty easy, and all of the incoming cash or online payments are recorded, as well.
This app not only saves you money but also prevents a lot of unwanted situations, such as roommates fighting over financial matters.
In case you want to curb your overspending, you might want to give PocketGuard a shot. This app makes it possible for you to keep track of all of your expenses from its user-friendly interface, especially money that is left over after you have paid all of your monthly bills. And if you don’t like numbers and prefer it when things are visualized, then you’ll love its pie chart feature showing how much each category costs you on a monthly basis.
You can also link all of your credit and debit cards, as well as your bank accounts, to the app, which provides you with a centralized view of all of your finances at any given moment.
Saving money as a college student might be a bit of a challenge, but these helpful budgeting apps will definitely make the process a lot easier. Start using them today and make the most of your income. Good luck!