The best money management apps

debt collection and tax season concept with deadline calendar

For creative souls, the idea of managing finances is a scary one. But it doesn’t have to be, with our guide to the best financial apps out there.

Often one of the hardest things for freelancers to get their head around is the financial side of their business. Maybe you want to be creative and expressive, not bogged down with worries over invoices and finances.But with a multitude of money management apps out there, keeping track of your finances doesn’t have to be a chore. Here are five of our favourite money apps.

Simple to use, QuickBooks is excellent for those self-starters who struggle with tax. The app lets you track all income and expenses by linking with your bank account, and even estimates taxes quarterly, all from your phone.

The app also lets you fill out HMRC self-assessment tax returns, although it doesn’t help create invoices or data records. While the self-employed version of the app is free for your first 30 days, it’ll then set you back £6 a month for the next six months, with a new user discount.

Voted the UK’s best accounting software for small businesses, FreeAgent is built with freelancers in mind and suited for those with service- and project-based businesses. Quality bookkeeping software comes as standard, while its best feature might be its ability to send recurring invoices out to those annoying clients who don’t pay on time.

FreeAgent has a UK-based support team that can help you with your precise needs which is a definite plus, although the service is a little pricier than others at £9.50 per month for the first six months and £19 per month thereafter. A free 30-day trial is available.

Rows of coins, used for banking and finance concept

Do away with that tatty shoebox you’ve been keeping your receipts in all these years and make the move to Shoeboxed. The app helps you keep track of your expenses by letting you take a photo of your receipts, while your own dedicated Shoeboxed email address also keeps things simple.

Shoeboxed links to QuickBooks, making those tax returns even easier, while we’re hoping that they soon roll out some of their US-only features internationally to make the app even better. Freelancer subscriptions start at £10 per month for up to 50 receipts.

Not designed specifically for freelancers but still just as handy, Yolt is a money management app that lets you keep track of your current and savings accounts and nicely breaks down where you are spending all your money.

Although it might give you a shock by revealing just how much you’re spending in coffee shops every month, Yolt is a great tool that keeps you informed of not only your own spending but any better offers you might be missing out on. Even better, Yolt is entirely free.

If you’re dealing with clients and suppliers from around the world, you might be able to save yourself some money using the Transferwise app. The app cuts down on the fees that banks charge to send money abroad, meaning more for you.

The app is simple to use and while it doesn’t cut out the international transfer fees completely, it brings the cost down considerably. It’s free to sign up, so what are you waiting for?

What are your favourite money management apps? Let us know in the comments below…


Posted by The Secret Businessman