If you are willing to save money, Expense tracking apps are kind of a must and should to install. These apps help you to know where you spending more money and also alerts you when you are reaching your budget limit.
These apps keep track of your bill payments, transactions, etc and give you a clear graph of how much and where you are spending a lot of amounts.
But there are hundreds of apps which do expense tracking. In all of them, I have selected 3 Apps which works better with the good user interface, functionality, features, security and also better if you are from India.
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Now just don’t install all the 3 apps and make your life a bit more complicated. These apps do the same thing in totally different ways. I have used all of them and will explain to you all the features these apps provide you. You can just choose the one which suits your needs.
Let’s Dive in.
Best Expense Tracking Apps for Money Management
The 3 Apps which are in this list are not at all listed in a rank-based. They are different according to different people’s needs. So you can choose the one which suits your needs.
I am also mentioning their main difference in the brackets beside so that you can get a quick view.
1. Monito ( Simple Yet Wonderful )
Monito is all about Simplicity, this app is soo user-friendly, cutting out all the crap. And even the UI looks soo beautiful. All you can do is whenever you spend something, you can add the amount and details of that transaction.
This app calculates everything and shows all your transactions in soo detailed graphs and lists.
After downloading the app, open the app and give permissions. 5 options you need to know before using the app. Transactions, Categories, Recurrings, Trash & Graphs.
Transactions are nothing but your spendings, Whenever you spend something, add a transaction into the app about all its details.
Categories are nothing but the type of transaction, is that food, health, entertainment, etc. You can add categories according to your needs.
There are 2 types of categories, One category is Income and the other is an expense. You can see the above photo that Salary has a Plus symbol and the remaining ones are minus. Because Salary is something which adds to your wallet and Expense are the once which decreases. As you can add and delete salaries, you can add according to your wish like Pocket Money, Given to Friend, etc.
Once you set all your categories according to your needs, you can add transactions in these categories, if you got a salary, add the transaction selecting the option salary and enter the amount. That’s it, the app will add it as your income.
If you are adding it in a category which is an expense, then it will minus from your wallet.
There are other 3 options, Recurrings, Trash, and Graph.
Recurrings is nothing but saving the transaction for future use. You get the same salary every month, so you can set the salary in recurring options. Later by selecting it, you can add the salary instantly.
Even though you accidentally deleted the transactions, you can find them in the trash.
Graphs are the ones, which you have installed the app for. After entering all your data, you can see all of them in clear graphs, you can understand all your spending habits and try to save on them.
All this data will be backed up in google drive, so you won’t be losing any data easier. You can set a password to open the app and security of this is soo strong that you can’t even take a screenshot of this app.
And utmost of all, the important of all is, you don’t need to open the app to add the transaction each and every time, you can add the widget of the app on the home screen where you can add the transactions instantly.
Click here to download Monito
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2. Walnut ( Tracks your transactions automatically )
Walnut is also an expense tracking app which is some other extra features. But among all of them, tracking expenses automatically is the best part.
You may be booking your tickets, order food online, sending money to friends, paying the current bill, phone recharge, food, etc, this app tracks them automatically which means you don’t need to add the details manually.
And the details it shows back to you are also good that I can understand my spending which is the reason why I installed the app.
But this app doesn’t take any information from your bank or any of your online wallets, it just read your messages and understands whenever it receives the details. This app is secured and you don’t need to worry about it.
The only thing it lacks is, it cannot add the spending you have done offline, it only calculates the online transactions, but you can add them manually. It even won’t add withdrawal details thinking that you will add them manually later so that it can avoid duplicates.
Anyhow, it takes half of your work.
As it tracks your messages, it also shows how much you spent from each bank and on what purpose you have spent. In case you are using Credit cards, or if you need to pay any bills like DTH, Phone Balance, etc, it will add them to remainder and remind you about it when you are spending more so that you don’t miss bills and don’t pay extra penalties for credit cards.
It also has a split the payment option which can be used to pay room rents, outing, movies, etc.
So there are a lot of options and better than Monito in all ways. But I feel Monito is better in some ways as you need to do everything manually, it won’t add details of your friends or family who used your card, moreover tracking only online and leaving the normal spending makes inconsistency and sometimes you might be thinking whether the app added this transaction or not.
Though I can say that the results are pretty accurate, I like the simplicity of that Monito, so if you need a more simple app, better go with Monito, but if you are searching for the app which does your transactions automatically and also helps you to remind about payments, etc, you can choose Walnut. But you need to add offline transactions manually and also it takes a few minutes to understand what’s going in that app because of all those features.
Click Here to Download Walnut
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3. ET Money ( A Full Fledged Money App )
Just like the Walnut App, all the online transactions will be added automatically and the offline transactions should be added by you. It also has remainders features to remind you about the bills and due dates.
So it’s covering everything Walnut app covers, but this soo much more than that. It is not even about extra features, it has a lot more than this that it can be easily called an App for full-fledged Money app.
There are a total of 7 big features to talk about.
- Spends: Spends feature is nothing but tracking your expenses like the previous apps, it will collect information from your messages and shows all your transactions automatically. But just like Walnut app, you need to enter the details of offline transactions manually.
- Smart deposit: This feature is soo much useful if your main motto is to save money other than keeping an eye on your transactions. You can just deposit the money into the app. So that, however, your spending are, you don’t need to worry about savings as you saved the money already.
So it just acts like a saving bank account. But you get extra benefits here as you get more interest here than banks. And you cannot use that money anywhere from any app like bank accounts and online wallets. You need to transfer than the amount to the bank or any online wallet again to use them.
- Direct Mutual Funds: You can use this app to directly invest in mutual funds. Remember I said you that this can be your full-fledged Money app. And this app keeps that promise by offering such handy features. This is zero commission direct mutual fund, and you can use this app to track results.
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Loans: If this can be called a money app without the loans feature. If you really need loans, this app provides that too. You can send all your details online and there is no paperwork. ET Money says that as a hassle-free way to get loans. As this app also reminds about bills etc, it also reminds you about loans too. You can take the loan from 1K to 20 Lakhs.
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Insurance: You can also apply for insurance on the app which includes insurance for health, car, two-wheelers & Term. It provides all the options like a normal insurance company. As this is not a post about insurance, I am moving to stressing out more. You can check all the details by installing the app if you want such features.
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Gold deposit: Et Money covers Gold deposits too by partnering with Reliance. You can buy as low as 2 grams and get that safer. You don’t need to visit any jeweler and the entire process will be completed online. In fact, it is secure than physical money as you get all your receipts online.
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Bill Calendar: After all these features and your money flowing through this app, you should definitely need a reminder and a calendar to check everything at one place. This calendar shows exactly that and shows you due dates and the dates you invested.
So you have all those features, the question is “Do you use them?”. If not, then better prefer Walnut than ET Money. If you want a way cleaner and consistent app, then choose Monito.
Click here to download ET money
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Conclusion
The conclusion is very simple, you don’t need all these apps at the same time, so you can select the one which suits you.
If you want all the features of ET money and thinks they will be useful for you at least some of them, then you can prefer ET Money. Especially, the feature where we can save the money in the app so that you don’t need to worry about spending can be really useful but you need a PAN Card for it.
If you don’t want such features and all you need is expense tracking, then you can choose Walnut. In fact, it also has tracks transactions automatically and reminds about your bills.
But if you prefer a more simple option where all you can do is add transactions manually and get a detailed view of your expenses, Monito will be helpful to you.
Click here to download these apps:
Monito
Walnut
ET money
Comment below which app have you chosen and are there any better options than these apps for India.
