Last Updated on December 14, 2020
Here are three apps that can help track and manage your expenses. There are two schools of thought when it comes to expense management. Those who wish to track to a reasonable extent and those who think if we spend after planning investments, tracking is not necessary.
Each school of thought has its pros and cons depending on where you are on the money management lerarning curve. Those who like to or wish to track may consult: What 25 Years of Tracking Expenses Taught Me and those wish to track investments and not expenses may refer to: How tracking investments instead of expenses changed my life!
About the author: Nilesh, is a teacher with an M.Tech Cyber Security with an interest in writing and money management. No part of this article should be construed as money managment advice.
As the Robert Kiyosaki says “it’s through our expenses that we became richer or poorer, regardless of how much money we make.” So it’s we can say that managing your expenses is very important. There were times when there was a month end
and I literally don’t remember where were I have spent my money. I felt both guilty and irritated when I finally remember it.
I always wished to reduce my expenses by any means only if I knew where I spent those tiny chunks of money. Luckily we are going through digital era where managing money is as simple as making a call, Yes ! you heard that right. Humans are heavily influenced by the day to day technologies and mobile apps are one of them. We know that apps are everywhere and for everything. So why don’t we advantage of it. Here are my top three app recommendations to simplify your expense and a life revolves around it.
I.Walnut- (Android, iOS)
This is the simplest yet most featured app. It not only saves
your money from unwanted spending but also saves time.It
has this autonomous message scan feature which keeps track
of all money you spend via mobile like Net-banking, credit
card, debit card, wallet apps like Paytm, Amazon Pay etc.
Disclaimer- I have been using this App for about more than 3
years. Never a problem or burden for me.

Pros of Walnut
- Automated expense tracking from SMS transaction alerts.
- Daily Expenses summary on the time you set.
- Option of adding Cash money spent.
- Back up and restore mechanism.
- App lock for sensitive data.
- Weekly, monthly expense tracking along with graphs and email statement
facility. - Automatically identifies your recurring spends
- All data backup to device only, no any hidden cloud storage.
- Dark theme for late night money management.

Cons of Walnut
- Ios app does not support automated expense tracking
- Has access to your personal data like email, for making improvements in the app.
- Need to give SMS access permission to start autonomous scanning feature of expenses.
- Need to do KYC with PAN Card to avail certain services which is completely optional.
II.Monito- (Android only)
This is easy to understand and use app.UI is the simplest one.

Pros of Monito
- Clean and elegant UI.
- Facility for expenses export to excel.
- Ad-free.
- Facility to carry forward remaining balance.
- Recurring expenses can be added.
- Automatic Google drive backup if you want to.
- Categorical split of expenses along with graphs.
- Dark theme for obvious reasons.

Cons of Monito
- No automated tracking every expense need to be entered manually.
- Need to add recurring expense like mobile bill, rent etc. manually.
- No Default App-lock or Security features.
III. Monefy- (Android, iOS)

Pros of Monefy
- Rich set of expense categories to start with.
- Facility to export expenses to .csv format.
- Different section for cash and payment card expenses.
Cons of Monefy
- Need to buy monefy pro for additional features like multi-currency support, passcode protection, synchronisation.
- Most of features above apps provided requires you to buy monefy pro (₹149 one time buy).
Do you track expenses? If so with which app/tool?
How to profit from content writing: is our new ebook for those interested in getting side income via content writing. It is at available at a 50% discount for Rs. 500 only!
Use our Robo-advisory Excel Template for a start-to-finish financial plan!
Join our courses in exclusive Facebook Groups!
- 520+ members are now part of our new course: How to get people to pay for your skills! (watch 1st lecture for free). Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show how to achieve by showcasing your skills and building a community that trusts you and pays you!
- Goal-based portfolio management! Join 2125+ members and get clarity on how to plan for your goals and achieve the necessary corpus no matter what the market condition is!! Watch the first lecture for free! One-time payment of Rs. 3000 only. No recurring fees! Life-long access to videos (10+ hours content) in an exclusive Facebook Group! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Want to check if the market is overvalued or undervalued? Use our market valuation tool (will work with any index!) or you buy the new Tactical Buy/Sell timing tool!
We publish mutual fund screeners and momentum, low volatility stock screeners .every month.
About the Author

About freefincal & its content policy Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on developments in mutual funds, stocks, investing, retirement and personal finance. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than one million readers a year (2.5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified from credible and knowledgeable sources before publication. Freefincal does not publish any paid articles, promotions, PR, satire or opinions without data. All opinions presented will only be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our Youtube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing

Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want

Your Ultimate Guide to Travel

Free android apps
- All calculators from our book, “You can be Rich Too” are now available on Google Play!
- Install the Financial Freedom App! (Google Play Store)
- Install Freefincal Retirement Planner App! (Google Play Store)
- Find out if you have enough to say "goodbye" to your employer (Google Play Store)