This personal budgeting app helps you track your spending and cut down on unnecessary purchases

TheInsider Picksteam writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.The first few months after college graduation offer many people their first taste offinancial independence.You have a job, rent to pay, and real-world expenses like groceries and utilities.But between treating your friend to a beer on theirbirthday and occasionally taking acab instead of the subway, managing your money isn't always easy.To help, you might want to consider downloading the budgeting appPennies.According to its founder Emile Bennett, theapp's main users are18- to 25 year-olds, so it's perfect for recent grads."I've received many emails from students who tell me how it's really helped them to make their money last," Bennett said. "It'svery much a budgeting app for everyday people trying to find a littlehelp with managing their spending money."Here's how it works: After downloading Pennies, you're asked to provide a few important pieces of information, including how much you pay in rent per month and how much you earn each pay period. Users are able to create multiple budgets, so you won't cross-contaminate your "coffee budget" and "fun money." Once you've established your budgets, Pennies will show you how much money you canspend each day without depleting your bank account.You can set budgets on a weekly, bi-weekly, monthly, and bi-monthly basis and add expenses to each to keep track of your spendingin real time. You can even add expenses retroactively since it's unlikely you'll addevery purchase to the app the moment atransaction is completed.Once your paycheck is cashed, the app will automatically reset itself and you'll start all over.There are many budgeting apps on the App Storebut there's one thing a lot of them forget: We'rehuman. Whether it's a vacation or anew gadget, we're all bound to make an unnecessary purchase that doesn't fit neatly intoour budget. The next time you consider making a big purchase, Pennies will show your spending health, which will help you make a financially sounddecision.No one on the InsiderPicks teamhas tried Pennies yet, but the apphas many positive reviews from people who have:"It has quickly become part of my daily routine," one reviewersaid. "I think it's the simplicity that makes it great.""This genuinely works; I've cut back on 'pointless' spending and been able to stick to a budget," said another. "I don't know what I'd do without it now."Whether you're managing your own money for the first time or looking to cut down on superfluous spending, Pennies is well worth its$3 price.Download the Pennies app for $2.99 on the App StoreSEE ALSO:5 apps that make our lives a little easierDON'T MISS:These 10 online courses will teach you skills you didn't learn in collegeJoin the conversation about this story
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