10 Awesome Budgeting Apps to Help You Manage Your Money Better

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10 Awesome Budgeting Apps to Help You Manage Your Money Better

One of the biggest problems that most people face on a day-to-day basis is keeping track of their expenses. Picture this for instance, you’ve got your monthly pay and you do away with all the regular bills first. You then start spending whatever’s left on yourself.

A little careless spending here and there and you’ll be left to wonder what happened to all that money! The traditional way to go about solving this problem is to make a budget and track your expenses on paper. But, with most of us struggling to manage time effectively, a smarter approach is what’s needed. Enter the world of budgeting and expense tracker apps for your smartphone.

Now, there are plenty of budgeting and expense tracker apps in the market. While most of them do what they’re designed to, there are some apps with functionality issues and others that just can’t be trusted.

So, if you’re on the lookout for good budgeting apps, here are 10 of the best expense tracking applications out there to help get you started:

1. Goodbudget

Goodbudget is, arguably, one of the most widely used budgeting apps on this list. It’s based on a novel and time-tested budgeting system called envelope budgeting. On this app, you divide your income according to your expenses and put each amount into a specific envelope. You only get to spend what’s in the envelope and save what’s left of it.

What else is good

  • Create a custom budget that suits your expenses
  • Share your budget with your entire household
  • Save up for large spends to be made in the future
  • Share your expenses with those who share your budget

Keep in mind

The basic version of this app costs nothing to download and use. For increased functionality and additional features, you’ll need to download the paid version.

Download the app from Google Play or iOS App Store.

Related: 8 Mobile Apps You Can Use to Make Money on the Side in Malaysia

2. Pocket Expense

A screenshot of Pocket Expense on Google Playstore

An important part of budgeting is being able to track what goes in and comes out of your bank account each day. On the Pocket Expense app, you’ll be able to enter all your account information and keep a track of multiple accounts on a single platform. You can even manage different types of accounts on this app and get daily, weekly, monthly, or yearly statistics.

What else is good

  • Track each account’s balance as you use it
  • Make a recurring or non-recurring budget
  • Move money from one budget to another
  • Track recurring bills and payments
  • Get alerts for overdue bills and payments
  • Pay your bills in full or make a part payment
  • Protect all your data with a password
  • Backup all data so you can recover it later if needed

Keep in mind

There is a free version of this app that you can download and use. However, you can only use the free version app for a limited number of transactions. For unlimited transactions, you’ll need to get the paid version.

Download the app from Google Play or iOS App Store.

Related: 8 Top E-Wallets in Malaysia and How They Work

3. Budget Calculator (My Budget)

A screenshot of Budget Calculator on iOS App Store

If you’re looking for a simple app that lets you track your monthly expenses with ease, then try My Budget. You can put in your daily, weekly, monthly, or yearly expenses in each category and track it over the year.

You can also request for a yearly overview report or a pie-chart to give you a better idea of what you spend on mostly.

What else is good

  • Track each expense on a daily basis
  • Set a savings goal and adjust your spends accordingly
  • Get detailed reports of your expenses

Keep in mind

The basic version of this app is free to download and use. But for additional functions and features, you’ll need to get the paid version.

Download the app from iOS App Store.

Related: 5 Useful Tips to Become Debt-Free

4. Spendee

Spendee is one of the more popular budgeting apps on this list because of its minimalistic user interface that facilitates easy navigation. For starters, you can track your income and expenses for at least a month on this app.

Besides syncing your bank account, you can also connect your crypto wallet or e-wallet to track your entire cash flow.

What else is good

  • Track each expense in individual spending categories every month
  • Add customised spending categories for an interactive experience
  • Make unlimited smart budgets that help you save every month
  • Get detailed, easy-to-read reports of your expenses
  • Choose from multiple currency options
  • Get notified promptly about overdue bills and payments
  • Backup your sensitive financial data and recover it when the need arises

Keep in mind

While the basic version of Spendee is free to download and use, the upgraded plus and premium versions are chargeable. You can choose to pay for either of these plans on a monthly or yearly basis if you wish to subscribe for it.

Download the app from Google Play or iOS App Store.

Related: Mid-Year Personal Finance Review: 5 Essential Questions to Ask Yourself

5. Fast Budget

Fast Budget is one of the most quick-to-load personal finance apps out there. No matter how much data you put in, it doesn’t slow down and works just like it should. You can schedule multiple transactions, add expenses, and input different incomes. You can even set up multiple accounts and use the calendar feature to track your monthly expenses.

What else is good

  • Create and modify accounts according to your expenses
  • Add normal accounts to track regular expenses
  • Set up hidden accounts to track other small expenses
  • Create custom budgets with different spending categories

Keep in mind

As is the case with most other budgeting apps, you can download and use the basic version for free. But if you need additional functionalities, you’ll have to upgrade to the paid version.

Download the app from Google Play or iOS App Store.

Related: 10 Signs You’re Bad with Money, and Simple Solutions to Fix the Problems

6. Expensify

If you’re a business owner, an entrepreneur, or even a freelancer, tracking all expenses can be hard. While there are plenty of apps that can do this job, Expensify can help take care of invoicing as well as expense management.

What else is good

  • Get an expense report by just clicking a picture of a receipt
  • Configure the app to sift through expenses and flag those that need approval
  • Configure the app to automatically approve small expenses
  • Arrange for approved receipts to be reimbursed as early as the next day
  • Sync the app with your company’s accounting system for automatic updates of any changes

Keep in mind

There are three versions of Expensify to choose from – individual, team, and corporate. While the first version is free to download and use, the latter two are paid versions with additional functions.

Download the app from Google Play or iOS App Store.

Related: 4 Wise Things to Do with Your Salary

7. Toshl Finance

Isn’t it great when you don’t even have to manually enter your expenses on a budgeting app? Toshl lets you sync all your accounts and payment modes like credit cards and e-wallets so you can sit back and think about your financial goals.

What else is good

  • Set up a budget and saving goals
  • Configure the app to deduct a certain amount every month for emergency funds
  • Optimise your expenses by seeing where you spend the most needlessly
  • Get notified about overdue bills and payments

Keep in mind

There’s a basic version of this app that’s free to download and use. There are two paid versions as well that come with additional functions and value-added features.

Download the app from Google Play or iOS App Store.

Related: 7 Things You Should Never Skimp on to Save Money

8. TouchStyle

A screenshot of TouchStyle on iOS App Store

TouchStyle is meant for Bank Rakyat’s customers to manage their finances. It provides you with an overview of your monthly expenses, helps you track it, and lets you know what you’re left with to spend. You can also set up your saving goals and find out how much you’ll need to save every month to achieve those goals.

What else is good

  • Set up a budget and saving goals
  • Get notified about overdue bills and payments
  • Use it as an e-banking app for Bank Rakyat accounts
  • Find out about the latest promotions and nearest ATMs of Bank Rakyat

Keep in mind

The basic version of this app is free to download and use. You can also choose to upgrade to a paid version as well if you need additional functions and features.

Download the app from iOS App Store.

Related: 4 Simple Tips to Recover from Festive Season Overspending

9. Wally

A screenshot of Wally on iOS App Store

Another budgeting app that’s been making waves recently for its simple and user-friendly interface is Wally. On this app, you can track your daily expenses and the locations where you shop most often. That’s not all; it’s completely free!

What else is good

  • Create a budget and saving goals
  • Assign recurring income and expenses
  • Take pictures of your receipts and store them for future reference
  • Get an overview of your spending pattern

Keep in mind

The current version of Wally that’s available for download is free. There are, however, talks of two paid versions in the pipeline. You can expect them to have additional features like currency conversion and family management tools.

Download the app from Google Play or iOS App Store.

Related: Emergency Fund: Why You Need It Now, and How Can You Build One

10. My Tabung

A screenshot of My Tabung on Google Play Store

The last budget app on this list is a homegrown one – My Tabung. Developed by Bank Negara Malaysia, My Tabung is intended to make you more financially prudent. You can analyse your spending pattern on the app and gets tips or advice to have better control over your finances.

What else is good

  • Create a personal or a household budget
  • Monitor your income and set saving goals
  • Analyse all your expenses
  • Track loans and debt

Keep in mind

My Tabung is available for download on Apple and Android platforms. It is free to use and is compatible on most mobile devices.

Download the app from Google Play or iOS App Store.

Related: 6 Money Myths That Need to Be Busted!

A credit card can also come in handy to ramp up your savings for day-to-day expenses. If you’re looking for one, check out some of the best credit card options in Malaysia right now. That said, always consider things like minimum spend requirements, cashback caps, etc. before selecting a card that best suits your lifestyle requirements and spending patterns.

And we’re here to help you in making this choice. Check out the following blogs to get some useful perspectives:

And there’s more. Apply now for a Citi, Alliance Bank, or a Standard Chartered Bank credit card, right here on Bbazaar, and get a Tesco voucher worth RM120 or a Condotti 20" ABS Cabin Bag, absolutely FREE, upon card approval. T&Cs apply.

You may also like some of our other credit card-related blogs:

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