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Monday, January 24, 2011

Best Money Management App for iOS (IPhone and IPod Touch)

The App Store has a category for Finance, but among the many money management apps that are free, I find only one app that matches my needs. Most of the good ones are actually paid apps, and their free editions are too restrictive as it limits the number of transactions you can add. Having such app allows you to track expenses and income, which makes budgeting easier and account management easier. PocketMoney Lite is just the perfect app that offers password protection, data backup, 2 separate accounts (paid versions can have more), unlimited number of transactions, categorization of deposits, withdrawals, and transfers, complex reports (charts), repeating transactions (paid versions can have unlimited entries), and a very easy to use interface. What about the other apps?



Others may find Jumsoft Money easy to use, but it depends on your spending and earning habits. CashFlow Free is my second choice, although the user interface is less attractive, it seems to cover most functionalities PocketMoney has.  Paid apps like iXpenseIt are even more sophisticated, but I think PocketMoney has covered most of the features. I was not able to try Mint for iOS, since I can't even make Mint work without credit card. Other apps are associated to an online money service, and they offer syncing features where you can manage your accounts online as well. I'm still more comfortable with PocketMoney, even if it's not linked to any online services.

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