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Aditya living in Noida is an engineer. He earns a decent amount in a month. When he gets salary at the start of the month, then it seems that world is a happy place.  However by the time its 20th of the month. His mood takes a turn for the worse. The reason being, he spends all his money and sometimes he even borrows from his friends. He doesn’t understand where his majority of spending takes place. What should he do, and what he shouldn’t?

If you find yourself in a situation similar to Aditya’s and you’re troubled by where your money is disappearing despite having a decent income,  you can use expense tracking apps to keep in check your expenses.

Yes, just as the name suggests, expense tracking apps keep track of your expenses. There are many apps that keep a record of your expenses. They tell you where you’re spending and how much.

Apps like Axio, Walnut, Spendee, Money Manager Expense & Budget, AndroMoney, and Mymoney are useful tools.
In these apps, you can not only track your expenses but also keep an eye on things like digital wallets, credit cards, Sodexo coupons, and bank accounts. In these apps, besides expenses, you can also set budgets and goals.

With the budget feature, you can set spending limits for different categories, such as petrol or diesel expenses.
Additionally, when you are at risk of overspending, you will receive notifications. Even if you exceed the set budget limit, you’ll receive notifications.  You’ll see both the budget and expense charts, making it quite easy to understand…
One of the primary benefits of these apps is that you don’t need to maintain a spending diary. These apps automatically track your expenses, and using them is quite straightforward. They inspire you to stick to your budget.

Along with tracking expenses, you can also reduce spending in areas that aren’t essential. For example, if you realize that you are overspending on eating out or entertainment, you can cut back on those expenses. Another significant advantage is that you can make better financial decisions. Tracking expenses will give you a better understanding of your financial situation. This information will help you make better financial decisions.

For instance, if you need to save money for a down payment on a new house or invest for retirement…
This way, with the help of expense tracking apps, you can not only control your expenses but also plan your finances better.