Explore The Best Budgeting Apps For All Canadians
With the continued evolution and development in technology, budgeting and saving are even made easier and more convenient. Canadians who wish to track their spending and make sure that their money is spent wisely can now use apps that allow them to keep track of their budget. With the systematic budgeting at your fingertips, you can easily make sure that you’re in control of your finances.
The following are some of the budgeting apps that Canadians like you can download to help you in maintaining your finances in line.
Mint is designed by Intuit which is a company dealing with financial software. TurboTax, Mint is said to set the comparison standards of all the other budgeting apps. This app is consists of a robust interface that enables you to keep track of the money you spent and save. In fact, it also allows you to view all your accounts at once. This includes your credit cards, investments, and bank accounts. If you can’t come up with a certain budget, Mint can create it automatically for you.
Besides, you can also customize it, should you wish to do so. If you’re looking for a way to keep you reminded of your bills, Mint can track it and allows you to see what might be overdue. It can even check your credit rating and gives you points on how to improve it. Moreover, Mint is safe and secure as is it encrypts data under 256-bit and data exchanged is encrypted with 128-bit SSL.
If you’re looking for an app that also caters investments, your choice should be Mylo. Its main features is to round up your entire purchases to the nearest value and investing that dollar value to in an exchange trade which you prior chose. Having this small investment, won’t be a pain in your pocket; significantly, it allows you to accumulate a substantial amount over the period.
With its tagline “A little goes a long way”, you can get significant amount over the years. The substantial amount that you’re getting can even be used in putting savings in your TFSA and RRSP. Although it may not aid in your daily expenses, Mylo can get you a head start towards making micro investments that may yield a good harvest over the years.
Budgeting can be a resort in coping up with your debt payments. In cases, where in you’re paying for your high interest consumer debt, a Debt Manage app will aid you in making sure that your setting your debt payments as the top priority. The main goal of this app is to get you out of debt even faster in a cheapest means possible. If your paying several debts, and is burdened which to focus first, the What If? tool in this app can help your foresee the outcome of your choices. Moreover, it will show you the progress of your payments and the money you get to save by paying off your debt.
If you prefer not to link any of your accounts in any app, Spending Tracker is suitable for you. Unlike the other apps such as Mint, you don’t have to link your accounts to be able to monitor your spending pattern. Moreover, it allows you to stick on your budget. You can simply input all your expenses and income. For instance, you can enter the figure when you get your paycheck and enter the figure you spend in buying some stuff or getting some services. It may not be high-end and complex as the other apps, but it is the simplest way to manage your finances and keep track on your attitude towards spending.
Wally is an accessible finance app that you can use freely. It is an exceptional tool for someone who is thinking to track their expenses and income. It is not connected to any of your financial institution; hence, its accuracy depends on how you detailed the information accordingly. In contrast, reviews on the app say it not user-friendly, however considering its free to use and accessible to Android and iOS is worth a try.
YNAB, You Need A Budget
This app is a good choice for those who’s been living on their paycheck and who can’t seem to save any money. The app allows a 4 days free trial. The app mainly focuses on 4 key points such as:
- Give Every Dollar a Job
- Embrace Your True Expenses
- Roll with the Punches
- Age Your Money
As compared to the rest of the apps, YNAB users commend the exceptional customer service of the said app.
Look for The Right Budgeting App
In general, whether you’re using a basic or sophisticated app, the most important part is your commitment. Regardless of your purpose is to manage your finances, save money, or start investing, being committed to executing your goal is the key to getting the best outcome.
CONSUMER PROPOSAL EXAMPLE
Example Unsecured Debts
|2||Credit card 1||$6,812|
Your Monthly Repayments Would Be
a Consumer proposal $748
(total contractual repayments)
a Consumer proposal $295
(total contractual repayments)
* Subject to creditor acceptance
* Payment subject to individual circumstances
* Credit rating may be affected
* Fees apply, subject to individual's circumstances.