10 Free Budgeting Apps That Can Help Track Your Expenses
- By CompareHero.my
- August 9, 2021
If you’ve ever set a budget but lost track of it along the way and ended up just spending money without any idea of how much you have taken out from your wallet, then you might need some help on managing your finances in a smarter and more practical way.
Getting your cash flow on track isn’t as easy as it sounds; it requires commitment and discipline in doing so. Keeping notes on every Ringgit that comes in and goes out from your pocket and the bank can be tiring, but once you have the right budgeting app to keep your budget in place, you’ll spend much less time updating it.
Whichever app you go for in the end, you will have all the data you need to stick to your budget in your pocket, so you can check it anywhere you go. All of the apps listed below are mostly free, so there’s no excuse not to try them.
Related: 5 Must-Have Home Appliances That Save Time And Money
Contents
1. Money Lover
Money Lover is an all-in-one financial management app that includes tracking, budgeting, reporting and planning functions. It’s a simple app that allows you to categorise and keep a tab on your expenses across weeks, months and years. The report will be presented in an easy-to-read graphical format so you can have a clear view of your spending patterns.
Read our full review on this app here.
Features:
- Available on multiple devices
- Recurring bills and transaction reminder
- All currencies available with updated exchange rates
- Scan receipt
- Reporting
- Link online banking to Money Lover
Price: Free (In-app purchases available)
Platform: iOS | Android | Web
2. Spendee
Spendee’s minimalistic interface makes it easy to navigate and picture all your finances through an app. The main feature gives an overview of your weekly spending, organised from the most recent expenses or savings to the least recent. There are also options to display an overview of the month, year or a custom period of time.
Features:
- Connect Spendee with online banking, e-wallet and crypto-wallet
- Automatic categorisation
- Multiple wallets for different events
- Shared finances
- Multiple currencies
- Personal finance insights
- Available on multiple platforms
Price: Free (In-app purchases available)
Platform: iOS | Android | Web
3. Expensify
Expensify is a favourite among startups, as accounts using the same email domain can be linked for easy submission and tracking. You can easily group your expenses under different reports or trips. The app is handy to have while travelling since it tracks distance and time spent on a particular project. One unique feature of this expense tracker app is SmartScan, which reads your receipts for all the details of an expense. It was designed so there would be “no typing needed on your end”.
Features:
- Expense management
- Multiple currency conversion
- Travel booking
- Automatic credit card import
- Receipt integrations (Uber, Lyft, Hotel Tonight, Grab)
- Accounting integrations (QuickBooks, Xero, NetSuite, Sage Intacct, and more!)
- Custom report exports
- Mileage tracking
Price: Free to use for up to 25 SmartScans of receipts per month (In-app purchases available)
Platform: iOS | Android | Web
4. Monny
Known for its ‘cute’ features, Monny gives you mini-challenges to make saving a bit more exciting. For example, the first challenge is to key in entries for seven days straight, which would be helpful for getting you into the habit of using the app, if you’ve never used budget tracking apps before. The app records a daily or monthly report of all your transactions and creates reports to show where your money is being spent.
Features:
- User-friendly reports and charts
- Separate account books into different categories
- Backup support
- Daily notification alert
- Passcode lock for privacy and security
Price: Free (In-app purchases available)
Platform: iOS | Android
5. Goodbudget
Formerly known as Easy Envelope Budget Aid (EEBA), Goodbudget is a perfect option for couples that want to share their budgeting process together. It uses the familiar envelope budgeting philosophy to power your proactive budget for all of your bills and spending. An envelope system means dividing your cash into separate envelopes for different expenses like groceries, utilities, and car loan.
Features:
- Sync across multiple devices
- Scheduled transactions and account balances
- Split expense transactions
- Spending category suggestions
- Location-based widget
- Insightful reports
Price: Free to use for creating 20 envelopes (In-app purchases available)
Platform: iOS | Android | Web
6. You Need A Budget (YNAB)
This award-winning budgeting app allows you to manage your expenses easily when you’re not sure how to get your spending under control. With YNAB, you’ll be learning how to spend smart instead of spend less. If you share expenses with your partner, you can do the budgeting together so both of you will not accidentally overspend on shopping or groceries.
Features:
- Bank syncing
- Transaction matching
- Goal tracking
- Report and budget data
- Personal support
Price: Free for first 34 days
Platform: iOS | Android | Web
7. iSaveMoney
iSaveMoney is a powerful budgeting app and expense tracker that is suitable for people of different ages to create personal or family budget. It comes with different features and functions that will help you to plan your budget, record your transactions and forecast your budget with ease. You can create a monthly budget, tracking spending and get the report for free on all the recorded expenses for you to have clear insights on your spending habit.
Features:
- In-speech recognition
- Autocomplete function based on previous entries
- Built-in calculator
- Budget maker template
- Budget forecast
- Daily transaction monitoring
- Export data and report in CSV format
- Auto backup data to cloud
Price: Free (In-app purchases available)
Platform: iOS | Android
8. Mint
Search up ‘budgeting apps’, and Mint will be on almost every list. Mint is a pretty interesting app because it creates a budget based on your past spending habits. Another cool feature is that it splits your expenses into various categories such as shopping, bills, and transportation.
Features:
- A ‘well-rounded’ app
- Shows income, expenses, savings goals, credit score, investments, net worth
- Links to bank account and credit cards
- Budgets are created based on past spending habits
- Budgets can be adjusted
- Security features such as Verisign scanning, multi-factor authentication and Touch ID mobile access
Price: Free (In-app purchases available)
Platform: iOS | Android
9. Zeta
Besides Goodbudget, Zeta is another app that’s good for couples. Here, you can combine your finance goals with your partner’s. But you also can have individual goals. Under Zeta, you can tag your partner on specific transactions. Or if you’re purchasing something together, you can split that amount and keep a tally.
Features:
- You can have shared or personal accounts
- Keep a tally of how much you and your partner and spending
- Assign transactions to your partner
- Spending is updated in real-time
- Provides a savings timeline
Price: Free (In-app purchases available)
Platform: iOS | Android | Web
10. PocketGuard
Savings and expenditure aside, PocketGuard is one app that also allows you to keep track of your investments. To make it easier for you, you can link your account to your bank account, cards and investments.
Instead of just telling you how much you’ve been saving and spending, it also tells you how much spendable money you have left with the ‘In My Pocket’ feature.
Features:
- Links to your bank accounts, credit cards, loans and investments
- Gives you personalized reports on every transaction
- ‘In My Pocket’ feature tells you how much you have left to spend
- You can create goals on how much money you’d like to spend and save
- Premium version gives you even more features
Price: Free (In-app purchases available)
Platform: iOS | Android | Web
With different types of expense tracker apps available, it can be a little daunting to choose just one to help manage your money. You can try any of the apps we listed above and consider which one gives the best features for your personal finance tracking.
If you’re also thinking of switching to a different telco that is more budget-friendly, do give the article below a read:
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5 Tips To Protect Your Mental Health During The MCO
- By CompareHero.my
- August 6, 2021
It goes without saying that for many of us, our mental health might not be in the best state right now. Statistics show that there has been an increase in calls for help with regard to mental health issues since last year.
It’s a trying period at the moment, and the stress can leave a lot of us overwhelmed at the end of the day. While getting rid of what’s troubling you may not be easy, here are some ways you can cope and care for your mental health.
Contents
Social media is what helps us stay connected with the rest of the world. At a time like this, it can be a blessing as it helps us keep in touch with friends and family. But staying on top of everything also comes with a price: you end up consuming everything you see—the good and the bad.
Seeing high Covid-19 case numbers and deaths can be very upsetting. Reading stories of those who are in great need at this time can be painful. It’s important to help those who are in need when we can. But for that, we also need to be mentally healthy. If you are drained and worn out from a lot of negativity, you’re not going to be able to help others.
One way to work around this is to limit how much time you spend on social media in a day. Or, if you want to take a break from certain types of news for a few days, you can mute certain words on apps like Twitter so that you don’t see any news regarding it for a while.
2. Take enough breaks
Speaking of breaks, social media isn’t the only place you should take some time off from. Be it for work, house chores, studies or anything else, a balance is important. We understand it can be difficult to rest when there is just so much to do.
But if you get some time for power naps and or a quick yoga session, go for it! Your mind (and body) will appreciate not having to be stuck at working on one task for long periods of time.
3. Seek professional help if needed
Unfortunately, there is a lot of stigma around mental health and getting the right help when needed.
Seeking help if you’re under mental strain is actually a very healthy thing to do. Meeting professionals who can guide you on how to cope better can bring great relief. Keeping it all pent up inside will make things worse, so please reach out if you need help.
If you’re worried about costs, fret not. There are several professional health service providers who offer services for free or at affordable prices. You can click on the link below to find out more.
Related: 10 Affordable Mental Health Service Providers In Malaysia
4. Pick up some skills/hobbies
Like we said in the first point, it can be very overwhelming to be surrounded by only negative news and negativity. One way to distract yourself would be to pick up a new fun thing to do during your free time. You might just end up learning something you’ll love for life. Or, you might end up starting a business out of it. If you’re looking for ideas, here are some free courses you can take online, as well as small businesses you can start from home:
Related: 8 Places To Take FREE Online Courses From During the MCO
Related: 6 Businesses You Can Start From Home During The MCO
5. Put yourself first
By this, we don’t mean be selfish and cut everyone off. Instead, prioritize yourself in situations where your mental health is at stake. Be it in toxic relationships or other commitments that are draining the life out of you, your welfare should come first.
If you need some time off, take it. If you need to stay away from things or people that are affecting your mental health, don’t be afraid to take that step back.
We hope these simple tips will be of some help for you and if you’re going through a rough patch right now, we hope things get better soon!
On a related note, here are some more tips on why it’s important to manage work stress:
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Here’s How Much Tokyo Olympic Medalists Get Paid In Each Country
- By CompareHero.my
- August 5, 2021
The Olympics this year may be different from the previous ones due to Covid-19 travel restrictions. However, the spirit of wanting to win hasn’t faded, and we all felt that when Aaron Chia and Soh Wooi Yik won a bronze medal for badminton last week.
Bagging medals aside, you might also be wondering how much athletes get paid for winning these medals. We did a check on how much these champs are rewarded not just in Malaysia, but also around the globe.
Contents
1. United States
At the time of writing, the US has bagged the most medals in the Olympics. They’ve won 27 gold medals, 33 silver medals and 24 bronze medals—a total of 84. According to an article by Forbes dates 31st July 2021, here’s how much each winner gets paid:
Gold: USD $37,500 (RM158,362)
Silver: USD $22,500 (RM95,017)
Bronze: USD $15,000 (RM63,345)
Besides these cash payments, the winners will also get other benefits such as health insurance.
2. Japan
Let’s take a look at the host of the Olympics themselves: the Land of the Rising Sun. Thus far, Japan has won 41 medals; 21 gold, 7 silver, 13 bronze. Here’s how much each medallist is said to get:
Gold: USD $45,000 (RM190,035)
Silver: USD $18,000 (RM76,014)
Bronze: USD $9,000 (RM38,007)
3. Malaysia
Our very own Malaysia has won 12 Olympic medals since we first joined the games, and we currently have one medal from the Tokyo Olympics. Here’s what every winner will get for now:
Gold: USD $236,000 (RM996,628)
Silver: USD $71,000 (RM299,371)
Bronze: USD $24,000 (RM101,196)
Besides that, the medalists will also receive monthly allowances which vary between the type of medal won:
Gold: USD $1,200 (RM5,067)
Silver: USD $700 (RM2,956)
Bronze: USD $470 (RM1,984)
4. Singapore
Our neighbour takes the cake for the highest payout to winners. No country has offered their gold medal winners as much as Singapore has so far.
Gold: USD $737,000 (RM3,112,351)
Silver: USD $369,000 (RM1,558,287)
Bronze: USD $184,000 (RM777,032)
5. Australia
We have Singapore who’s offering handsome sums, and on the other end of the spectrum is Australia. Australia’s payouts for winners are some of the lowest.. But hey, something is better than nothing, right?
Gold: USD $15,000 (RM63,345)
Silver: USD $11,000 (RM46,453)
Bronze: USD $7,000 (RM29,561)
6. Brazil
If you didn’t already know this, Brazil was the previous host for the Olympics. They have won 16 medals in this Olympics so far, almost as many as they did in the last Olympics. Here’s what Brazilian athletes get if they win a medal:
Gold: USD $49,000 (RM206,927)
Silver: USD $29,000 (RM122,467)
Bronze: USD $20,000 (RM84,460)
7. South Africa
South Africa has won 3 medals so far; one gold and two silver. This is what each winner will get after returning home:
Gold: USD $37,000 (RM156,251)
Silver: USD $19,000 (RM80,237)
Bronze: USD $7,000 (RM29,561)
Some countries don’t pay their athletes for winning
This might surprise you, but not all athletes get paid for bringing home a medal. Countries such as Great Britain, New Zealand, Norway and Sweden don’t pay their athletes.
However, this doesn’t mean they don’t get any compensation at all. Countries can choose how else they would like to reward Olympics winners. For example, Great Britain gives athletes an annual training stipend. They also receive additional support through UK Sport which allocates £125m of government and lottery funds.
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Just Got Your COVID-19 Vaccine? Here Are Some Freebies & Promos You Can Claim in Malaysia
- By CompareHero.my
- August 4, 2021
With vaccinations in Malaysia being ramped up in the last few weeks, you might be seeing more and more of your family friends posting pictures of their newly injected selves.
And if you’ve also already gotten your jab, you know that finally getting your shot can be a big deal! To celebrate those who’ve gotten vaccinated and to encourage those who haven’t, several businesses have offered some interesting freebies and promos.
To claim these rewards, all you need to do is show proof of your vaccination. With that, let’s jump right into the list of restaurants who are a part of this initiative.
Contents
1. Domino’s Malaysia
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If you’re a pizza lover, you won’t be able to say no to this deal. You can now get two regular Domino’s pizzas at a steal, but do note that this deal runs only until the end of the month. This promo is applicable for those who have registered for their vaccine, so it doesn’t matter if you have or haven’t gotten your shot. The main criteria is that you must have registered for the vaccine. You can order in-store online, but you’ll need to pick up your orders yourself.
What: 2 Regular Pizzas for RM19
How: Show proof of vaccination registration (MySejahtera, SELangkah etc.)
When: 15th July 2021- 30th August 2021
Where: In-store & online orders
Click here for more information.
2. Nandos Malaysia
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You don’t get a free meal or discount under Nandos, but you’ll get extra loyalty points! When you show proof of your vaccination, you’ll get one free Chilli point which you can claim under Nandos later.
What: 1 free Chilli point
How: Submit MySejahtera vaccination proof here
When: 22nd June 2021- 30th September 2021
Where: Nationwide
Click here for more information.
3. myBurgerLab
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This one’s for the burger lovers! If you’re a fan of the popular burger joint, you’ll be happy to know that they’re also offering a promo for those who are vaccinated. The difference between this and Domino’s promo is that it’s for those who have gotten their first shot only.
You’ll need to download the myBurgerLab+ app and click on the ‘I’m Vaccinated!’ button. Further instructions will appear on your screen after that. myBurgerLab has not mentioned when this promo will run until, but you can follow their page for updates.
What: RM10 myBurgerLab voucher
How: Download the myBurgerLab+ app
When: Ongoing until further notice
Where: In-store takeaway & online orders
Click here for more information.
4. llaollao
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Craving for some fro-yo? You can now take care of that craving because llallo is offering 15% off on these products: Medium tub, large tub, sanum, smoothies, smoothie plus, twin tub combo. You’ll need to buy your fro-yo in-store to be able to claim this promo.
What: 15% off selected products
How: Show your MySejahtera vaccination status
When: 26th May 2021- 31st August 2021
Where: In-store takeaway purchases
Click here for more information.
5. Vanilla Crepe
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Vanilla Crepe, like the name suggests, makes crepes in a variety of flavours. If you’d like to fix your sweet tooth, you can give their buy 1 free 1 promo a go!
What: Buy 1, free 1
How: Show your Covid-19 vaccination digital certificate
When: Ongoing until further notice
Where: Paradigm Mall, Sunway Pyramid, Sunway Velocity, SS15, IOI City Mall, Mid Valley outlets
Click here for more information.
6. Bean Jr.
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Bean Jr. is offering a free bowl of tau foo fah for those who have registered for their vaccination. All you need to do is head over to any of their outlets and show them proof that you’ve registered. Each person can only claim this promo once.What: One free bowl of tau foo fah
How: Show proof of your Covid-19 vaccination registration
When: 1st June 2021 until further notice
Where: Takeaway only during the MCO
Click here for more information.
7. Don’t Yell At Me
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You can claim a free Wintermelon Chrysanthemum drink at all of their 6 outlets by just showing them proof of your vaccination. Do note that this only applies for walk-in orders and that this promo is valid for the first 10,000 cups claimed only.
What: One free Wintermelon Chrysanthemum drink
How: Show proof of your Covid-19 vaccination
When: Ongoing, for the first 10,000 cups only
Where: Takeaway orders at all 6 outlets
Click here for more information.
8. Churitto’s
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Churitto’s has also joined the bandwagon in encouraging people to get their shots. Once you’ve gotten your vaccine, you can head over to either their SS15 branch or Publika branch. You’ll need to show them your MySejahtera vaccination status, so you cannot claim this through online delivery.
The deal you’ll be getting is a free Signature Mojito and a Soft Taco. Each person is only allowed to claim once.
What: One free Signature Mojito and one Soft Taco
How: Show your MySejahtera vaccination status
When: Ongoing until further notice
Where: Takeaway orders at SS15 and Publika outlets
Click here for more information.
9. Soyya
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Get one free refreshing soya drink after getting vaxxed! You can claim this after your first or second dose, and each person is only allowed to claim once. Soyya had initially stated that you’ll need to claim this offer within 10 days of getting vaccinated, but this requirement has now been scrapped—so you can claim it whenever.
What: One free soya drink
How: Show proof your vaccination
When: Ongoing until further notice
Where: Takeaway orders at all 4 outlets
Click here for more information.
10. Eat Cake Today
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Got a special day coming soon? You can now get 10% off on all cakes at Eat Cake Today. Like with all of the above, just show proof of your vaccination at their store. You can claim this promo at their cake hub at The Starling Mall only.
What: 10% off on all cakes
How: Show proof your vaccination
When: 23rd June 2021- 31st August 2021
Where: Eat Cake Today cake hub at The Starling Mall
Click here for more information.
If you haven’t signed up for the vaccine, please do so and help our country achieve herd immunity soon. If you have any concerns regarding the vaccine, do get in touch with your doctor.
And if you’ve been hearing/reading too many vaccine myths that might be scaring you, check out this article to see which myths have already been debunked:
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6 Types of Liquid Investments That Are Best For You
- By CompareHero.my
- August 3, 2021
Investments like purchasing a property are great! But what’s not so great is the process and the time it takes to make that investment yours.
Fortunately, liquid investing can help counter this issue. It presents the opportunity to build your wealth while keeping your funds easily accessible.
Contents
What are liquid investments?
Liquid investments can be defined as the type of investment you can quickly and smoothly convert into cash or cash equivalents. Additionally, it shouldn’t cost you anything substantial to be converted into cash.
A useful purpose for a liquid asset is to use it to build your savings and work towards a major purchase like a car or a house; all while receiving interest in your existing investments.
It’s easy to spot the benefits of being able to quickly turn your investments into cash, but there are downsides too. One of which is that illiquid investments (assets that can’t be converted into cash) often offer higher returns after a certain maturity date.
6 types of liquid investments
The goal of liquid investing remains constant—easy access to funds when needed. But the nature of the types of investments can differ tremendously. Consider the risks and rewards associated with each option based on your set of circumstances.
1. Cash
What’s the most liquid asset in our era? Cash.
You don’t have to sell cash in order to use it, and you definitely don’t have to pay a fee for taking it out of your wallet.
Cash investments include banking with regular savings accounts or term deposits from traditional banking institutions.
The biggest downside of it is, of course, you won’t be making anything from these investments. Even if you do, it’s often less than 1%. It’s never going to make you rich even if you have 200 years to live.
On top of that, you’re exposed to the risk of inflation. Maybe you can buy a pack of Nasi Lemak with your one ringgit bill today, but it might not be the case in five years.
2. High-interest rate savings account
Another safe and flexible option is a high-interest rate savings account. These accounts give you a stable return on your investment and are mostly accessible, as opposed to fixed deposits.
Bear in mind as well that there may be restrictions such as your age and minimum deposits when you’re looking for the account with the highest interest rates. At the same time, a lower interest rate often comes with other benefits.
Related: High-Interest Rates Savings Accounts From Malaysian Banks
3. Bonds
Bonds function as a form of loan. For instance, when a company or government needs cash, they have the option to issue bonds to finance the loan. The bonds give them a certain amount of money which they need to pay back at a later date (maturity).
There are several types of bonds, including government, municipal, corporate, and mortgage. As a rule of thumb, government bonds are considered the safest while corporate bonds are considered the riskiest.
In the Malaysian bond market, there are conventional and Islamic papers ranging from Government securities, Bank Negara Papers, Cagamas Papers, Private Debt Securities (PDS), and Asset-Backed Securities (ABS).
4. ETFs
ETFs, or Exchange-Traded Funds, are public traded funds that track a specific market. That means they are more passively managed rather than actively managed. But the good thing about them is that they are inherently diverse, distributing an investor’s risks while offering exposure to a wide market.
With today’s technology, you can easily buy or sell ETFs during market opens with just a click of a button; making them a fairly liquid investment. The only trouble you might face is the process of depositing and withdrawing the funds from your brokerage account.
5. Stocks
Similar to ETFs, stocks can also be easily bought and sold during market hours. In some cases, even outside of market hours. But one thing that separates stocks from ETFs is the volatility.
An ETF generally has lower volatility as opposed to a stock. Because of that, when an investor needs the money urgently and is forced to liquidate it, there is a higher chance that they will have to take a loss on that investment. Simply because it wasn’t the right time.
6. Money market account
Money market funds (MMFs) are a reliable financial option for managing money, though most Malaysians aren’t aware of these funds. MMFs are funds that specifically look for highly liquid short-term cash equivalents, otherwise known as “money market instruments”. These instruments all have to be supported by banks, which makes it considerably low risk, giving you high interests and have no lock-in periods.
Although liquid investments are important in one’s budget, you should also consider illiquid investments for the long-term as they provide higher potential returns.
Disclaimer: Neither CompareHero.my nor the content on it is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on CompareHero.my is for general information purposes only and is not intended to be personalised investment advice or a solicitation for the purchase or sale of securities.
Compargo Malaysia Sdn. Bhd. and/or its affiliates cannot and do not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. CompareHero.my may receive compensation from the brands or services mentioned on this website.
Meanwhile, if you’re thinking of investing in stocks in the near future, here’s a quick guide on the basics:
