4 applications to manage personal finances

Good management of personal finances is crucial to achieving financial stability and medium-long term goals. To assist in the process, there are several applications available.

We suggest four personal finance apps that aim to make managing your money easier. From the simple registration of an invoice to the savings plan, which can be more complex. Each of these applications offers free basic features and other, more advanced, paid features.

YNAB (You Need A Budget): under the motto “every euro gives work”, this application helps you divide your money into “little boxes”. In other words, direct your money towards the various monthly expenses you have. A method that can work well for the most undisciplined, because this way you will allocate a budget to each area of your life. Here is an example that might be interesting:

• Food: €200
• Transport: €100
• Leisure: €100
• Dinner out: €50

For expenses that are not frequent, you can use this app in advance, dividing, for example, car insurance, in phases over the months. And because not all days and months are the same, this application also allows you to be flexible with your “boxes”. As? Transferring leftover money from one category to another that needs extra reinforcement. Please note that using YNAB has a trial period of 34 days, then costs approximately €6.20 per month. And it's available for iOS and Android.

Wallet: Let's now talk about a manager that allows you to manually record all financial transactions. Income, expenses and transfers, for example, can be entered through a menu. Furthermore, this app, which is available for iOS and Android, allows you to have all the information summarized in graphs.

When it comes to tools and features, we highlight the possibility of creating goals and budgets. As well as creating reports for periods ranging from weeks to a year. However, automatic synchronization with your bank accounts is only available in the premium version.

52 weeks: What if at the end of the year you managed to save €1378? Does it look good to you? It is the objective of this well-known challenge that is now available in application. Available for Android and iOS, this is the ideal app for anyone who wants to become a new “Uncle Scrooge”.

For the most inattentive, let's explain the 52 week challenge. This application encourages you to save money every week. In the first week of the year, you start with just €1 and increase your savings up to €52 in the last week of the year, in December. As an example, and after all the math, at the end of January you should save €10. While in the last month of the year, the savings should already be €202 and, in total, you will have the promised €1378. In short, the secret is to save an equal amount each week, from 1 to 52.

Mobills: This is the most complete application on this list that helps you control all your expenses and organize your financial life. To start using it, simply create an account and then enter your expenses, income and card details. Mobilis makes automatic graphs to give you an idea of how you are spending your money and how you can save.

This way you will have all your financial information such as accounts, cards, investments, expenses and expenses in one place. Everything is centralized and available whenever you want to consult and control your finances.