If you want to keep track of where your money is going, a budgeting app could be the perfect solution for you. In this article, find out more about the Daily Budget app and what makes it different from other budgeting apps such as Mint and Personal Capital.
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The Daily Budget app (otherwise known as Daily Budget Original from C. Ruttinger) provides an incredibly simple way of budgeting.
To start with, you’ll enter your regular income into the app. Then you’ll input your recurring expenses, for example, your rent, mobile bill, gym membership and grocery shopping allowance. If saving money or debt payoff is one of your priorities, you can enter a percentage figure to set aside, e.g., 10% of your income.
After you’ve done this, Daily Budget will calculate a daily amount that is safe to spend from the money you have leftover. When you make a purchase, you can enter the amount into the app, and it’ll recalculate to show you a reduced figure for that day.
Unlike some other budgeting apps, Daily Budget doesn’t connect to your bank account, and your data stays on your device – a nice-to-know regarding data protection.
How much does Daily Budget cost?
There is a free version available which includes the Daily Budget calculation, basic categories for expenses and the ability to plan and save for big spending. The free version comes with ads.
The app has several paid features, such as ad removal for $1.99, customizable categories for $2.99 and analysis graphs for $2.99. You can upgrade to the PRO version which costs $8.99; this will allow you access to all the paid features available.
What real users are saying about the Daily Budget App
Daily Budget is only available for download on the App Store currently, although there are plans to make the app available for Android users in the future. It scores an admirable (4.7 / 5) with 1.9K ratings.
The detailed reviews about the app seem to be pretty good generally. One user claimed he couldn’t live without it, having used Daily Budget since November 2016. This person said that the app is so quick and straightforward to use and more convenient than some other budgeting apps. The “big expense” feature was a particular highlight.
Another reviewer on the App Store said this is the budgeting app they never knew they needed. The features that stood out for this person was the ability to see their daily budget and add plus or minus costs, along with the fact that you can individually purchase the other functions if needed, without upgrading to the PRO version.
If you want to compare other free budgeting apps to see which is the best one for you, a good one to start with is the Mint app from Intuit. Mint is a well-known app that does quite a bit more than Daily Budget.
With Mint, it’s possible to link up your bank accounts, credit cards, investments and bills to see a more precise picture of your finances all in one place, as well as set a budget and track your expenditure. You can also access your credit score for free too.
Personal Capital offers a free suite of financial management tools where you can calculate your net worth, set a budget, plan for retirement and manage your investment accounts. You can link up your checking and savings accounts, credit cards, mortgage and IRA account to the app to see a complete view of your finances.
If the thought of budgeting fills you with dread, the Daily Budget app might just make the art of managing your money that bit more bearable. One of the merits of the app is its simplicity. It could help you to spend more consciously, by showing you just how much cash is available to you per day, after your expenses and savings have been accounted for.
If you need more from a budgeting app, such as the ability to see your bank accounts all in one place, one of the other options mentioned above may suit you better.
*The information in this article is correct at the time of publishing.