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Moving to a new city like Bangalore can be a lot of things – exciting, nerve-wracking, but also expensive. Unlike the place you’ve lived in all your life, shifting somewhere new involves a lot of (costly) trial and error. From setting up your utilities to paying the monthly rent of your PG in Tavarekere to buying groceries on a weekly basis, everything costs a lot of money, especially when you’re trying out different options to find the most reasonable one. And if it’s your first time living away from home, you’re probably not in the habit of managing your own money. So how do you ensure you’re balancing between savings and expenses? How can you remember to pay your bills on time and still have enough left over for entertainment? And most importantly, how do you ensure you’re not blowing through your entire budget in the first half of the month?

Well, like most things in life these days, the answer is in your smartphone. Because there are a huge number of budgeting apps that you can download to improve your money management system. Today we’re taking a look at some of the best ones in India that could help you up your budgeting game.

Clarity Money

This is an app that you can download if you’re struggling with tracking your expenses and understanding your own spending patterns. It allows you to sync all your different bank accounts so you can categorise your transactions under different uses like food, shopping, bills etc. rather than based on your banks. In fact, the app even allows you to transfer money between your different accounts. The best thing about this app is that it’s very user-friendly and visually appealing. Clarity Money will organise your transactions into a graph format to help you analyse your spending habits on a daily and monthly basis. The only downside to this app is that it comes with pre-existing categories of costs to work with, so you may not be able to personalise it. But if you’re someone with a consistent monthly income managing routine payments, this is a great option for you.

mTrakr

Covering most of the key banks in India, mTrakr can help you reach your financial goals by tracking your expenses and creating personal budgets. Once you add in the information of your different bank accounts, the app will automatically track all your transactions and account balances and give you graphical representations of the same. If you’re prone to impulsive purchases, the app also lets you create personal budgets for different categories of expenses and sends out warnings if you’re within reach of exceeding them. And if you’ve ever complained about the fact that school never taught you how to do your taxes, this app has got your back as it automatically calculates your taxes according to your income bucket.

Walnut

Walnut is an app that uses your SMS inbox to help you track where your money goes. It analyses information about expenses, bills, transactions sent by banks or merchants(but not your OTPs or personal messages, don’t worry) directly from your phone’s SMS inbox. Much like Clarity Money, it also helps you track and categorise your expenses, allows you to set reminders for routine bill payments, and track your bank account balance. The app also helps you generate a report of your expenses for any period of time (handy if you have to claim spends at work, or if you want to track your spending patterns at the end of a financial year) in PDF and Excel formats for your convenience. Our favourite feature of Walnut has to be it’s Bill Split function, which lets you divide expenses with other users like your friends, colleagues, family or roommates. All you have to do is create a group for your expense, whether it’s a trip to Goa, a work lunch outing or the monthly rent of your hostel in Marathahalli, and allocate who pays how much. No more arguments about how to split the bill with Walnut.

Chillr

With their slogan ‘Experience banking like never before’, Chillr is an app that you can use for instant money transfers, managing your bank accounts, paying bills and more. Not only will it help you with the financial management side of things, you can also use the app to make bookings on travel and accommodations, and get deals on movie tickets and shopping. Best of all, while you can be enjoying the convenience of the app, it doesn’t require people you transfre money to, to download it as well. You can send money to anyone using Chillr as long as they have a bank account.

These are some of the best budgeting apps in India that you can use to keep track of your expenses and live a financially healthy life in a new city like Bangalore. Now you have no more excuses to run out of money before the month ends. So go ahead and spend responsibly.


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Ijack moriyal

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