22SEVEN: BUDGET, TRACK & SAVE

ANDROID & iOS COST: FREE THE LOWDOWN

This free budgeting and investing app, which is backed by Old Mutual, helps you track spending on all your accounts – this includes bank accounts, credit and store cards, investments, loans and rewards from more than 100 South African financial institutions.

The local app, which has more than 350 000 users, analyses your spending and saving habits, which then enables you to see exactly how much you’ve spent on items each month, how much you have left to spend and where you can cut costs.

If you’re all about organisation then this app has you covered too. It automatically sorts all your banking transactions into categories such as groceries, takeaways, rent and more. To stop you overspending at your favourite store, the app also sends you alerts, which you can activate if you’re getting close to reaching your budget limit.

In addition, the app sends you reminders, also called nudges, every morning to show you how much you can “safely spend” that day.

THE PROS

The app stipulates that it uses topnotch security measures similar to those employed by banks and the government. However, when you first register, you do have to provide your online banking password and pin, which might put off the securityconscious.

It allow you to view all your balances and transactions in one place and export them to an Excel sheet, making tax returns simpler.

THE CONS

Users have complained the app occasionally doesn’t update their budget when transactions take place.