Starting a small business can be stressful. You need a plan for just about every possible scenario, including your finances. But what if there were products out there offering assistance in this department?
Yup, that’s right: There’s an app for that.
Actually, there are a lot of apps for that.
We’ve put together a list of our favorite budget apps to help take the stress off your finances, allowing you to focus on the more important aspects of your startup.
Link all of your cards and bills to this handy app and receive an overview of where all your money disappears to. You’ll see how much money you have, what you owe, and how much you’ll be left with after paying your bills.
You can also create a budget for specific categories based on your spending patterns. Mint tracks all your habits and gives you suggestions on how to save. It can even help you find different credit solutions to earn money back on what you’ve spent.
Free money for spending money? Yes, please!
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Want to keep an eye on your credit score? They offer that luxury, too!
The best part about Mint: It’s Free.
Like Mint, all you need to do for Pocketbook is link all of your current accounts to the app and it’ll start spitting out insights in minutes. It knows know how much money you’re spending in different categories (e.g. clothing, gas, groceries).
In other words, if you have a shopping addiction, Pocketbook won’t let you continue living in oblivion. Sorry, it’s time to face the facts.
You’ll also never question where your money is flying off to again. Pocketbook sends notifications directly to your smartphone to keep you in the loop on your finances.
My personal favorite is the potential to save for a future endeavor. Say you want to take all your employees to Kings Dominion to show how much they’re appreciated. Enter the amount you need to save and Pocketbook will help you get there.
Oh, and just like Mint, Pocketbook is also free.
Here we get into the more complex apps available for small businesses. Wave is considered to be a “one-stop shop” for businesses. And it doesn’t disappoint.
Wave offers it all. You can track your income and expenses, create and send professional invoices (great for freelancers), get paid with credit cards, you can even pay your employees and handle your taxes all from the app.
Now, Wave’s software is completely free. There’s no set up fee or hidden charges. However, if you decide to take advantage of their credit card processing or payroll tool, you will be charged a small fee.
For credit card processing, you’re charged 2.9% + 30 cents per transaction. For monthly payroll, it’s $15 for the base fee and an additional $4 per an employee. (10 employees or more, discounts apply.)
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Let’s just say, you get what you spend. Investing a few additional dollars might save you hundreds in the long run.
I know what you’re thinking - What can’t Spendee do?
It’s a great question and the answer is: It can do everything. Alright, maybe not everything, but just look at it. Tell me that’s not the smartest finance app you’ve seen thus far (in this post, anyway).
The best part about Spendee, other than being free, is you can share your wallet with others. Now your business partners can keep you on track!
Although there’s a free version, Spendee also offers a Plus version ($1.99 per month) and a Premium version ($2.99 a month).
Like Spendee, Goodbudget also offers joint accounts. This feature will make it nearly impossible to be caught of guard regarding your business finances.
By creating different budget categories, Goodbudget will set aside all of the allotted amounts and leave you with the amount leftover.
There are two versions: free and Plus ($5 per month). If you choose the Plus version, I would go with the yearly payment of $45, which saves you $15.
You never know when those Chipotle cravings are going to hit you. If you’re anything like me, it can happen anywhere from one to three times a day. The extra money is definitely worth it!
Like most of the other financial apps, HomeBudget tracks all of your expenses and spits out a “spendable” amount of money for monthly costs. The fun part about this app are the awesome graphs and pie charts it creates.
It makes budgeting your money appear more enjoyable to the user. You can even include the amount of cash you have and it’ll add it into your budget. Plus, it has the ability to work with multiple currencies.
If you currently reside in New York, you’re in luck.
Exeq will be launching in the New York City location within weeks. The app already has a 30,000 person waitlist to start using the initial version.
So, what’s so special about this new piece of tech?
The app has been designed to appeal to the Millennial generation. That’s right, you’ll be able to get your emoji-fix in by using them to comment on a restaurant experience.
The app will also send you friendly notifications if you’re overspending, find you the best places to spend for your budget, and you can even tag your friends to show them affordable places to spend.
Plus, if you’re craving that extra foam cappuccino on your way to the office, exeq will give you your cheapest option, too.
Don’t let your business’ finances become your reason for losing sleep. Choose one of these financial apps to ease some of the burden.