Have you ever received your paycheque only to run out of cash within a week or 10 days? Do you struggle to pay your bills at the end of every month and find it hard to keep you from unhealthy spending habits? Under such circumstances, it becomes crucial to plan your savings ahead and keep track of your expenses.
That is when a good budgeting app comes into the picture. Budgeting apps help you monitor and organize your spending, encourage you to save, help create a cushion for unexpected expenses, ultimately making finances easy.
Though there are several iOS apps promising the best budgeting experience, Budget hound: Smart spending by Aleksandr Romanov is the best that there is. The small-sized app gets downloaded even before you know it and offers several unique features.
Make sure to set your currency right and select the month for which you are planning the budget. Add regular incomes you shall receive in the mentioned month by entering details about the income category and the approximate amount (in your local currency). On the next page, add your monthly expenses like rent, utilities, health care, groceries, transport, etc., one after the other. Enter the amount you wish to set aside as savings in this period on the next. Voila, you have created your budget for the month in the snap of a finger.
Depending on your inputs, Budget hound: Smart spending will do the math and let you know your daily budget.
Forgot to add an income source or a recurrent expense? Worry not. You can add more of them after budget creation also. Set a budget for a month and track your net worth month after month.
Once you are done listing your expenses, incomes, and savings, navigate to menu > categories, go through all possible options and ensure you haven’t missed out on anything major. For instance, clicking on the incomes tab will show you two folders comprising salary, bonuses, cashback, selling, gifts, and savings. Click on EDIT to add a new item in a corresponding folder or delete an entry if you think it is unnecessary.
On the home screen, you will find statistics such as average expenses per day, expenses made today, planned, and total budget. Under the plans tab, you can add in more spending and income. You can view all the transactions that you made during the entire period and classify expenses by category.
A quick look into the app will help you understand how much money is in your bank account, what your top expenses are and how you can cut short unnecessary expenses. You can also view the history of your transactions under Menu > Budget History. Make sure to look at the app and input your expenses, income, and savings on a regular basis to get the best out of the app.
At first, though the app may look too simple, the features Budget hound: Smart spending offers are second to none. Download the app for free and carry out your competent financial planning today!!
Rating: 10/ 10
Price: Free
