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Home Personal Finance

Top 5 Expense Tracking Apps Perfect For Millennials In 2020

Amanda Tang by Amanda Tang
January 24, 2021
in Personal Finance, Popular, Top
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Top 5 Expense Tracking Apps Perfect For Millennials In 2020

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“Beware of little expenses. A small leak will sink a great ship.” – Benjamin Franklin 

If there’s anything I’ve learned this year, it would be THIS.

Since the start of COVID-19, my wallet has taken a big hit – and I’ve only got myself to blame for that.

Being a true-blue millennial and a self-proclaimed experience chaser, it’s so easy to overlook and overspend.

  • I mean, who can ever resist 50% discounts on 11.11 & Blackfriday?
  • Or weekend staycations to recover from the ever-increasing workload?
  • And okay fine – I admit – I could totally do without my daily cup of % Arabica

The point is – it ALL adds up.

And it has reached the point where I’ll have to choose: either eat into my savings or dial down on other areas (healthcare, insurance, parent’s allowance, milestone celebrations).

And I certainly won’t choose the latter.

So before my savings deteriorate any further, I quickly realized that I need to get my expenses in check.

And here’s when I discovered the wonders of expense tracking apps.

After sifting through and testing several of these apps, here’s what I found to be the best – fuss-free, user-friendly & definitely effective!

1. Seedly

interface of Seedly app showing accounts summary, accounts & expenses

Photo: Seedly

Seedly arguably takes the top spot here for a few reasons: it allows you to efficiently track your expenses and stay on top of your financials at one glance.

Users can easily sync bank accounts, credit cards and expenses automatically- and manage them all in one place. Plus, there’s also quick manual expense entries that can be done in just 2 taps – perfect for beginners who are just starting out like myself!

To top it off, there’s this awesome feature of Seedly where it’ll breakdown and analyse your transactions, making it super handy. Seedly also crunches the numbers and lets you know how much you can spend per day.

For such a comprehensive app, it’s hard to believe that it’s absolutely FREE.  

Key Features:

  • User-friendly interface that makes navigation super intuitive
  • Smart spending categories with customizable budgets
  • Comprehensive month on month spending comparisons 
  • Access to Singapore’s largest personal finance community – money hacks, investment guides, stock analysis and more!

2. Spendee

overview of Spendee featuring expenses and personal wallet

Photo: Spendee

Spendee, my next favourite, is an absolute pain-free budgeting app – which makes expense tracking a complete breeze. It’s an app that would make any busy Singaporean happy, no doubt. Spendee is FREE and comes with the option to upgrade your plan.

For instance, users can link your credit card and bank account to Spendee, and all incoming and outgoing transactions are automatically tracked by the app.

And unlike other apps with complex charts and graphs, Spendee presents your spending habits and even real-time cash flows data in simple, easy-to-understand infographics.

Key Features:

  • Automatic tracking of incoming and outgoing transactions
  • Clear and decluttered user interface
  • Multiple currency management 
  • Shared wallet feature
  • Utility bill tracker and reminder

3. Zenmoney

Zenmoney's interface

Photo: Zenmoney

Looking for a powerful & smart expense tracker app? Zenmoney has got to be it. It’s like having a personal financial consultant right in your back pocket.

And more than just an expense tracking app, Zenmoney also keeps debt accounting and investment portfolio tracking. 

What I like about Zenmoney was that it gave me full control over my finances – by analysing my earnings & expenses and planning and payment and incomings.

And here’s the cool part: It predicts your expenses in the future based on your past habits!
(This is a very helpful reality check for a reckless and sometimes delusional spender like myself)

Last but not least, Zenmoney recognises text messages and automatically creates transaction entries – allowing users to track expenses effortlessly!

Key Features:

  • Expense prediction tool
  • Seamless synchronization with 30+ banks
  • Allows for both personal & joint accounts
  • Available on mobile & web version

4. Monny

Monny's interface showing the dashboard, comprehensive reports, challenges, personalized accounts

Photo: Monny

“Fun, cute, straightforward, easy to use”

Yes. I know. It’s rather odd to describe a financial management & expense tracking app as “fun” and “cute”. But if you’ve always found dealing with money matters to be a little scary, then you should really try out Monny.

Other than it’s adorable and friendly user interface, what truly sets Monny apart from the rest is that it provides a gamified financial management experience. Such as, providing users with mini challenges – with award incentives –  to encourage them to track their expenses & save. Users can also unlock new in-app achievements as they progress in their financial journey.

Saving money has never been more fun.

All these, while not neglecting its main function: expense tracking and budgeting. Fast & simple entries, financial charts for clear visualization, well-sorted daily or monthly report of your transactions, and easy-to-use analysis tools.

Monny is FREE, and access to the premium version is also available at an extra fee. 

(But honestly, with unlimited records and categories, and data export available in excel – the FREE version is more than enough)

Key Features:

  • Cute, user-friendly interface
  • Separate account books designed for travelling 
  • Gamified financial planning experience
  • Challenges to one-up your financial literacy
  • Customizable expense categories
  • Annual trend reports

5. Wally

An overview of Wally's interface and features including banks, spending categories and charts

Photo: Wally

Last but not least, Wally is a FREE smart personal finance app that has recently proved to be a hit (sadly, for iphone users only). With in-app purchases and various pricing options, you get access to advanced functions and add-ons when you actually need them.

Even in the FREE version, you get to enjoy: joint accounts, automatic syncing, budget sharing, note-taking. Wally boasts a very practical feature – allowing users to scan & upload bills, receipts & warranties for a full overview and record of your financials. Wally also runs heavily on AI to learn about your spending habits and preferences over time.

Whether it’s for individuals, or families or employees, Wally is a nifty app that helps you manage your finances on-the-go and make the best financial decisions.

Key Features:

  • Backup storage of data in cloud
  • Export of data to Excel
  • Automatic expense tracking with via Location Services 
  • Tracking of foreign accounts & currency conversion
  • Seamless synchronization with banks worldwide

That’s all for my list of the best expense tracking apps, many of them come FREE with added functions that go beyond basic transactions. 

My personal favourite would be Seedly for now, given that I’m still starting out and require something that’s easy to work with. The main goal is to get my finances back to its healthy state – and I do expect to switch things up a little with other apps as I get more experienced!

With such handy tools to track and remind myself of my spending on-the-go, I would probably think twice before splashing out on non-essentials.

Well, there goes my excuse for overspending!

For more tips and advice on how to manage and grow your wealth, head on over to:
Dipping Your Toes Into Investing? Here’s 4 Fun & Easy Ways To Get Started

Tags: Budgetingcut expensesexpensesfinancial disciplinemoney managementmoney tipsmoney wisdom
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