Maintaining budget and managing finances can take a toll if you’re not savvy with money. There are a number of tools and websites out there that help you manage your finances while helping you track your spending. With them you can minimize your expenses and save more. But if your budgeting process still depends on hundreds of bill and cash collected in hand from numerous sources, you may have to rethink your approach. Going paperless not only helps you remain efficient but also automates numerous tasks that would normally take you hours to note down and calculate.

These top 5 apps for managing your finances not only help track income and expenditure but also help you make effective financial decisions based on your priorities.

Here are our favorite apps to track and manage finances effectively from your android device .

1.    Mint

This popular app is perhaps the best on the Play Store. With a rich interface and intuitive workflow, the app automatically syncs all you accounts and expenses along with tax information to present an overview of your financial status. One of the unique features of the apps is that it alerts you for any unusual spending and help you stay on course to meet your financial goals. Mint interface is  perfectly organized and allows the user to take quick actions to manage their savings and improve their credit score. The app also provides an approximate credit score to determine how the users are managing their finances. It also displays tips and recommendations to improve credit scores.

You can download the app here

2.    GoodBudget

This app tries to blend old school budgeting processes into modern app based interface in the form of envelopes to manage your expenses based on your financial inflow. You can allocate cash to envelopes meant for predetermined expenses. This method helps you understand your spending habits while allowing you to achieve your financial targets. For people with irregular finances, the app provides an option that allows users to input and manage their finances depending on their income.

Download the app here

3.    Mvelopes

Mvelopes uses an intelligent algorithm to help you pay off your debts and avoid financial problems in the future. It is also based on the envelope based budgeting process but has a number of features that enhance the usual process. You can set financial goals and plan your monthly budget accordingly to gain maximum benefits while saving for yourself and paying off your incurred debts. Like Mint, it works directly with your financial organization to keep track of your detailed financial inflow and outflow.

Download the app here

4.    BillGuard

It is perhaps the most security oriented app with simple budgeting features that is ideal for beginners. It syncs your financial data from your financial institution and displays detailed information about your spending. It is particularly strict about controlling your financial outflow and requires multiple authentications to prevent fraudulent and suspicious spending.

Download the app here

5.    HomeBudget

This app is ideal for families who want to track and manage their finances collaboratively. It automatically synchronizes data between all devices in a household to present a comprehensive financial expenses report of everyone in a family. The desktop and web version helps users to track progress while setting achievable goals. You can also attach pictures of bills to remain completely paper-free.

Download the app here

In Conclusion

There are hundreds of apps to manage your finances on the Play Store but features that these apps provide are far better than most. These financial apps are popular and have millions of users worldwide using them to automate and track their finances. Give them a spin today and find the one that suits you the most.

Don’t see your favorite in our list? Let us know about it in the comments below.