Importing transactions is fairly straightforward on the free version. For this review, we’ll stick with the free version as we have done for all the other options. Although its free version is very usable, advanced features such as automatic bank feeds and longer-term forecasts require paid versions of the app. PocketSmith is the feature-packed budgeting app that does almost everything. Therefore, a budgeting app is only of value to you if it can help you to set, track and manage your financial milestones. From paying off debt, to buying that first house or planning for the next stage of life, a budget will make sure you are on track. The real value comes in working towards reaching your financial goals. There’s little point in making a budget for the sake of it. Of course, the real value of budgeting apps isn’t in their budgets. This can help you work out how realistic your budget is and where wasteful spending is occurring, and can also help with making a plan to regain control. By categorising in and outgoing money, they allow you to easily see how your actual spending stacks up to your goals. Many budgeting apps allow you to import bank feeds automatically or add them manually yourself. A budget is of little use if you can’t compare your actual spending to what you budgeted. Perhaps the best reason to use an app is for expenditure tracking. They use easier layouts to make budgeting simpler and can provide a useful overview of your financial position. Using an app to create a budget makes sense. A pen-and-paper budget or even spreadsheet template will only get you so far before things get messy, lost and eventually forgotten.
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