The start of the year is a great time to start planning out your budget and finances for the rest of the year. This is especially true if you are someone that gets paid early in time for the holidays but has to wait what feels like forever for that next paycheque in January. If you are ready to start penny-pinching in the new year to start forming better habits for the rest of the year, then this list of apps will help you to get there.
Best budgeting app: Squirrel
This is a great app if you are the type of person that gets a bit too excited on payday and ends up spending all of your money within the first week and has to live on rice for the rest of the month. Squirrel lets you put your wage into a dedicated account, which is then split into your main spending pots for the month. This includes commitments, savings, and spending pots, which are then locked down so that you can’t touch them. When a bill is due the correct amount will be released into your account so that you can’t spend it before the bill is due.
Many cashback websites like TopCashback and https://www.rebatesme.com/ now have their own apps that let you get cashback while on the move. If you are shopping on the high-street, you can use the app to find out if there is any cashback available at the retailer you are shopping at. You can then take your receipt and scan it into the app to claim your cashback.
To save on subscriptions: Bean
With music and TV streaming services becoming more widely available each year, Bean is a great app to track all of your subscription services and find better deals. Apps like Spotify and Netflix are tracked, and the app will let you know if there is a discount or competing provider that can offer you the same services for less.
To track all of your spendings: Monzo
Many banks now have mobile apps that let you track your savings and spending habits, but Monzo takes it to the next level. Open your account like a normal bank account, and you will get a salmon pink debit card for all of your spendings. You can then track every purchase you make to find out where your money is really going.
Set up pots for different saving goals, and you will get a notification every time you spend. If you go into the app, you can see exactly what you are spending your money on as it is automatically categorized into entertainment, food, bills, and more. With this information, you can make changes to your spending habits that will really make a difference. You can also get the app to round up every transaction you make to the nearest dollar and put this into a separate pot. This helps you to save while you spend without even realizing it.