Top Budgeting Apps for Students: Ways to Manage Your Money

#1 Wally

First up is Wally. This user-friendly budgeting tool allows you to import accounts from various banks, giving you a clear picture of your financial situation without the fuss. With Wally, you can track your expenses and income, making it easy to understand where your money goes each month. One of its standout features is the ability to scan your receipts, so no more keeping crumpled bits of paper in your wallet! Just snap a photo, and Wally will simplify the categorisation of your expenses and help you pay your bills.

Wally also helps set flexible budgets for different periods, allowing you to manage your monthly spending and save for specific goals. By giving you personalised insights using machine learning and data analysis, Wally encourages you to keep your costs current and review budgets regularly. It’s a fantastic choice for staying organised and keeping your finances in check throughout your studies.

#2 Splitwise

If you’re planning to share accommodation or expenses with flatmates, Splitwise is an absolute must. This app simplifies the often awkward task of splitting bills and expenses, so you won’t have to worry about who owes what. With Splitwise, you can easily add expenses, assign them to specific people, and the app will calculate who owes whom, taking the guesswork out of it.

Splitwise’s user-friendly interface makes managing shared expenses a breeze, helping you keep tabs on debts and settle payments. Additionally, the app offers a premium version with features such as analytics to understand spending behaviour and an expense search function. You’ll find that managing shared expenses becomes a breeze, allowing you to focus more on your studies and less on financial disputes.

#3 Monzo

Monzo is a popular banking app that’s particularly great for students. It allows you to open a current account quickly and manage your spending in real-time. Monzo offers high ratings on both the Apple App Store and Google Play Store. The app provides various features, such as setting different spending categories and creating ‘pots’ for saving towards specific goals (like that weekend trip to Barcelona!).

One of the best features is the instant notifications for your transactions, helping you track your spending as it happens. Monzo also offers borrowing options, including an overdraft feature with limits up to £2,000. With a friendly, modern interface designed to help users manage their money efficiently, Monzo empowers you to take control of your financial future.

#4 StudentBeans

While not a budgeting app in the traditional sense, StudentBeans can help you save money on essential purchases, making it a valuable tool in your financial toolkit. This app provides exclusive discounts and offers for students, allowing you to find deals on everything from clothing to food, which can really help stretch your budget.

You can use your digital student ID at the cashier to receive discounts or use the Chrome extension to alert you of exclusive student offers as you browse. By utilising StudentBeans, you can free up funds for other expenses or fun activities while studying. Imagine scoring a great deal on that new laptop or getting a discount at your favorite coffee shop—every little bit helps!

#5 TopCashback

Let’s talk about saving money while you spend! TopCashback is a cashback app that lets you earn money back on your purchases, which is a fantastic way to stretch your budget. Whether you’re buying textbooks, groceries, or clothes, you can earn cashback on your purchases by using the app before you shop. The app partners with over 6,000 UK retailers, providing cashback offers typically ranging from 1% to 10%, with some promotional rates as high as 40%.

One major advantage of TopCashback is that there is no minimum payout amount, allowing you to withdraw your earnings anytime via options like bank transfer or PayPal. While it isn’t a traditional budgeting app, it complements your financial strategy by helping you save a little extra cash during your studies. Imagine using those cashback rewards to fund a nice dinner out or save up for a weekend getaway—now that’s what we call smart spending!

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