Keeping Track Of Your Finances Can Be Overwhelming Tedious Or Just Plain Boring

Keeping track of your finances can be overwhelming, tedious or just plain boring. 
However, it's an important thing to do, especially when you have financial goals to meet such as paying off your credit card debt, saving to buy a house or putting money aside to invest. 
Aside from that, knowing how to manage your money is a good skill to have and something that can help reap significant rewards over the long term.
Now, it's easier than ever.

More and more aspects of our lives can be managed via our smartphones - and that includes our finances. 
There is a wide range of money management apps available to help keep track of your finances
Whether you want some extra support to make your cash last until payday or want to learn where you can cut down your spending, there are plenty of apps available that can help make your money work harder. 
Saying that, there is a dizzying array of options out there, so This is Money has done the legwork for you and picked five of the best money management apps currently available on both Google Play and the App Store.  
Unless otherwise stated, all of the following money management apps are regulated by the Financial Conduct Authority and utilise Open Banking - the sharing of financial information electronically, securely, and only under conditions that customers approve of.

1.
RELATED ARTICLES [# Previous] [# 1] [# Next] [/money/howmoneyworks/article-4116506/Top-10-apps-help-manage-money.html Want to get into saving, learn how to invest or find easy...] [/money/saving/article-8245485/Saving-money-lockdown-use-cash.html Do you have spare lockdown cash? As some find they have...] [/money/saving/article-2320678/The-best-bank-accounts-overdrafts-cut-cost-going-red.html Do you have overdraft charge outrage? The best bank accounts...] [/money/saving/article-2313021/Best-paying-current-accounts.html The best interest-paying current accounts to make your money...] Share this article Share 33 shares HOW THIS IS MONEY CAN HELP [/money/saving/article-2260632/Five-best-current-accounts-bank.html Looking for a better bank? This is Money's five of the best current accounts] 1. [ Cleo]Cleo is very much targeted towards the younger generation, with a fast-paced quirky nature and the opportunity to win cash via quizzes and games.

It was voted the Best Money App in 2019.
It is free to use, FCA-registered and Cleo promises to never sell your data.
Cleo interacts with you about your finances as if you were talking to your friends 
Best for 
- Making money management fun and interesting
- The opportunity to win more cash
- Simplicity and ease-to-use 
- Informative and engaging blog posts 
What it offers
Cleo is different from most of its competitors in that 'she' uses AI to talk to you like a real person. You can ask her questions via the app (or Facebook) and she'll respond as if you're texting a friend.

This makes the user experience a bit more fun and lively. 
It also runs a blog with tips and advice written in a friendly and accessible manner with GIFs and memes, as well as a 'Money Diaries' section which gives an insight into the saving and spending of Cleo users. 
Cleo's financial experts then respond with an analysis of their habits and give advice on how to be smarter with their money - not unlike Cleo herself.
For those feeling particularly adventurous, after you've connected your account, type 'Roast me' and see what Cleo has to say about your own spending habits. 
Worth noting
While Cleo is definitely fun and exciting and can help you cut down your spending in certain day-to-day areas or a holiday in the near future, it's not really one for budgeting with serious financial goals in mind such as buying a home.
Cleo has also signed a pledge which provides protection for up to £85,000 in losses to UK bank accounts and credit cards where the losses are attributable to sign-up and use of Cleo.

Payments are subject to certain conditions, limitations, and exclusions. 
2. [ Plum launched in 2016 and follows a similar AI approach to Cleo
Plum launched in 2016 and follows a similar AI approach to Cleo. 
It offers an investment service for a subscription fee that is easy to use, is regulated by the FCA and promises not to share your data without your consent. 
Best for 
- Rounding up spare change so you save without noticing 
- Quirky challenges and saving modes
- Investing for beginners 
- Crunching numbers on your bills
What it offers
For £2 a month (the first month is free) you can invest directly via Plum's Pro Plan and a Plum ISA. You can choose what to invest in based on six different themes and at three different risk levels. The investments consist of shares only and are protected by the FSCS guarantee. It's important to remember that as share values fall as well as rise, you may end up with less money than you put in. .
If you use Plum's free service, the app rounds up your small change using algorithms which track your spending patterns. It then works out how much to put aside for you every few days, which can eventually add up to some big savings without you having to think about it.
You can adjust how much Plum sets aside for you whenever you like, by choosing what 'mood' you're in, from 'beast mode' which aims to boost your savings by 75 per cent, to 'shy', from which you should expect 50 per cent lower savings than usual.
The Pro Plan also offers a programme called the '52-week challenge' in which you save £1 in the first week, £2 in the second week and increasing up to £52 in the final week of the challenge. By doing this, you can set aside £1,378 in just one year. 
Plum offers the chance to invest in six different themes. Note these are average annual returns of the past five years and past performance is not a reliable guide to future performance
Worth noting
When Plum sets money aside for you, it's moved from your bank account and held in an e-money account, which is held and administered by its partner, PayrNet. It is regulated to hold your money as an 'Authorised Electronic Money provider'. 
This e-money account is not FSCS protected, but is subject to strict European regulation, meaning that in the unlikely event that Plum or the bank should go bust, you will get your money back. 
You won't earn interest on your balance, but you can put the funds to work by investing them or withdrawing them when you've met your goals. 
3. ][ Emma] Emma, described as 'your best financial friend', is a free app designed to help you avoid overdrafts, cancel wasteful subscriptions, track debt and save money.
It is registered with both the Foreign and Commonwealth Office and the Information Commissioner's Office and uses several state-of-the-art security measures, so you can rest assured your data is safe. 
Emma lets you see all of your accounts and spending habits in one place
Best for
- Helping track and cancel wasteful subscriptions 
- Syncing your budget to payday 
- Not selling your data 
- 'Emma' reports 
What it offers
Emma can be used to set budgets and track your accounts in one place - including your investments and pensions - while helping to pay off debt and avoid overdraft fees.
It includes a countdown to payday so you know exactly when your salary is coming in and how to manage your money around that date.

Emma notifies you when it's payday as well as when you receive a refund or one of your direct debits has been paid. 
One of its best features is the ability to find and cancel any wasteful subscriptions you may have signed up to but forgotten about.  
The app sends you weekly or monthly reports with an overview of your account and spending.

There is also a '[ community]' in which you can talk to other Emma users about all things finance and more.
Worth noting
Emma promises not to sell your data, which is how a lot of free money management apps make their profit.

Instead, Emma makes money by offering a paid-for subscription service called Emma Pro.
This offers the ability to make custom spending categories, export your data between time ranges, create manual accounts in any currency and much more.
These can be purchased via one-month, six-month or annual subscriptions for £9.99, £29.99 or £41.99 respectively.
An initial seven-day free trial is also available.
While its selection of connected financial apps is vast, including several crypto exchanges such as Coinbase and Kraken, there are still some it does not support. For the full list, click [ here].
Moneyhub offers an easy way to get in touch with a financial expert
4. [ Moneyhub]   Moneyhub is another one of the leaders in this area, having been around since 2009.
It is FCA registered and is one of the few money management apps that is available for businesses as well as for personal use.
Best for
- Explaining jargon
- Keeping you informed with relevant and timely 'nudges'
- Connecting to real-life experts for financial advice
- 'Forecasting' your future financial position 
What it offers
Moneyhub is good for seeing exactly where you can cut back on spending and how changes could impact you in the future.

Its 'forecast' feature allows you to see how much money you might have in the next few months and lets you see how a big spend like a holiday, house or car might affect your finances. 
It not only gives a breakdown of where your money is being spent, such as on gas bills or travel but will also give the detail. 
Moneyhub also offers an easy way to get in touch with a financial expert, whether you want to invest for your future, make the most of your retirement, or just find the right adviser that can provide a valuable service.
Through the app you can find such a person, connect with them and share your data instantly and securely.  
Worth noting
When you sign up to Moneyhub you will automatically get six months of free service but after this you will have to subscribe.

The fee is 99p per month or £9.99 for the year if you subscribe directly. 
Alternatively, you can subscribe via the App Store at a cost of £1.49 per month or £14.99 for the full year.   
5. [ Snoop]   One of the newest money management apps to join the market, Snoop is a free app designed to identify ways in which you could save money based on what you're already doing.
It was developed by a team of ex-Virgin Money employees - including the bank's former boss Jayne-Anne Ghadia - and is authorised and regulated by the Financial Conduct Authority.
Snoop keeps a 'beady eye' on bills and sends you a notification if it thinks you can save money elsewhere.

It also finds vouchers for places you've shopped at so you can save next time
Best for
- Keeping an eye on your bills
- Saving where you already spend by finding 'snoops' 
- Smart reminders such as reminding you to buy travel cover if you book a flight
- Weekly and monthly spending summaries 
What it offers
Snoop aims to help you become smarter with your money but does all the hard work for you.

For example, it will take note of the stores you shop at and then let you know if there are voucher codes available for next time. 
It also provides little tips, or 'snoops' on its home screen with links to special offers or outlet stores, steps on how to claim back if you've overpaid on your bills, or understanding certain financial jargon such as buyer's protection.  
There are also a number of 'Snoop Skills' which make Snoop unique from its competitors such as working out which reward miles you're collecting and spotting opportunities for you to earn more of them.
Like Emma, there is a community called the [ ][ ]
[ Chip]Like Plum, momcheap.mystrikingly.com Chip works out how much you should save and then moves it for you to a Chip account every few days so you barely notice. 
It is FCA regulated and currently offers full connection to 17 UK banks and building societies.

You cannot connect a credit card to Chip.
Chip works out how much you should save and then moves it for you to a Chip account
Best for 
- Helping you to budget without connecting all your accounts
- Keeping focused on up to three goals at a time
- Auto-saving without having to think about it  
- Keeping up-to-date via an easy to read blog
What it offers
Unlike most money management apps, Chip offers you a 'quick connection' account which means you don't have to use Open Banking and share all your banking data. 
Instead, Chip will use average data from all Chip savers and cross reference that against your profile (age, where you live, etc), to calculate how much you should put aside.
Of course a more personalised experience will come from being fully connected but this option might be more suited to someone who isn't quite ready for Open Banking. 
You can have up to three financial goals at any one time and allocate a percentage of your auto saves to go towards each goal. 
Worth noting
Chip is not a savings account and doesn't have FSCS protection; your money is stored as e-money in a ‘ring-fenced' account, which means it's never used for any trading activities.
Money is only ever moved between your Chip account and your bank account, so whatever happens, your money will always be in an account in your name. 
[ Money Dashboard  ]Money Dashboard was voted Best Personal Finance App in both 2017 and 2018 and is one of the more popular apps available.
It allows you to set up multiple budgets and send notifications if you overspend, while also allowing you the ability to predict any future spending. 
Money Dashboard allows you to see your accounts, spending habits and budgets in one place
Best for
- Allowing you to plan and predict for your future budget
- Focusing on specific financial goals 
- Includes a 'dashboard' where you can see all everything in one place
- Covering a wide range of firms to connect to 
What it offers
Money Dashboard allows you to connect to all of your online accounts, and then automatically groups and categorises your transactions into various tags such as ‘electricity' and ‘groceries.' 
Over time it will learn your preferences and do most of the hard work for you.
On sign-up, it asks what your specific financial goals are and caters the experience around your answers from saving to buy a house, saving for a wedding or even going on holiday.
It is also connected to a [ wide range of financial firms] and there are plenty of others in development such as Amazon, Aqua Card and even Indian bank ICICI Bank.
Worth noting
Money Dashboard makes it money by providing insight and market research services to help companies better understand trends in consumer behaviour - which means it sells your data on an anonymised basis.
Shifts in consumer preferences and spending information are identified, which then helps companies refine their products and services - which Money Dashboard can then offer as suggestions to you. 
If you select a product based on its suggestion, Money Dashboard may receive a fee from the product provider. [  ]
[ Yolt]   Yolt is a venture of Dutch bank ING Bank N.V.
Yolt is a venture of Dutch bank ING Bank N.V.

meaning it has the stability of a well-established bank but also the agility of a future forward fintech. 
It is a licensed third party provider, is regulated by the Dutch Financial Authorities and can be found on the FCA register.
Best for
- Seeing your spending history via charts
- 'Splitting the bill' between accounts
- Earning rewards from various retailers 
- Comparing utility and insurance providers 
What it offers
Yolt has a dedicated section called 'Actions' which helps customers to make the most of their Yolt experience.

This includes setting smart saving goals and learning how to master your monthly spend.
There are also tools on saving and investing, switching your energy supplier, sending money abroad and finding the best insurance provider for your phone, home and travel.
Yolt also analyses your spending data and breaks purchases across all your accounts into different categories so you can see where you are spending most of your money. 
You can then set a track and budget on these categories.

For example, Yolt may find that you spend an average of £20 a week on coffee. You can set a custom budget of £10 a week on coffee and once you hit this limit, Yolt will send you a notification to keep you on track.
Worth noting
Yolt also says it does not sell your data but instead uses it to update your personal profile.
It makes is money through its partners which provide customers with special offers. If a customer chooses to purchase from one of those partners, Yolt will get commission. 
Its offering for connected banks and building societies is currently on the smaller scale compared to its competitors'.

The latest list of connected accounts for Yolt, as well as those soon to be connected, can be found [ here].  
<div class="art-ins mol-factbox money" data-version="2" id="mol-03023b70-8948-11ea-a558-8b8c2a427962" website best money management apps to keep track of your finances