The Best Apps to Manage Your Side Hustle Finances

Updated on: by Amy Kennedy

The modern world has witnessed a remarkable rise in the concept of side hustles, offering individuals a gateway to explore their passions, supplement their incomes, and unlock financial independence. 

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Whether you’re freelancing, selling handmade crafts, or providing consulting services, successfully managing your side hustle finances is crucial for long-term growth and sustainability. 

In this dynamic landscape, where time is a valuable asset, leveraging the power of technology through apps can be a game-changer. 

This blog post looks into a curated selection of the best apps available to help you efficiently organize, track, and optimize your side hustle finances.

Streamlining Your Side Hustle Finances: Why You Need the Right Tools

Running a side hustle is an exhilarating endeavor, allowing you to pursue your passions, generate additional income, and gain financial freedom. 

However, the path to success in the world of side hustles is paved with unique challenges, especially when it comes to managing your finances effectively. 

This is where the right tools can make a significant difference in streamlining your side hustle finances and empowering you to achieve your goals with ease.

1. Increased Efficiency and Accuracy

Managing your side hustle finances manually can be time-consuming and prone to errors. 

Using the right tools, such as dedicated finance apps, can significantly enhance your efficiency and accuracy in tracking your income, expenses, and financial transactions. 

These tools automate various processes, including data entry, categorization, and reconciliation, saving you precious time and ensuring the accuracy of your financial records.

2. Real-Time Financial Insights

To make informed decisions about your side hustle, you need access to timely and accurate financial information. 

The right tools provide you with real-time insights into your revenue streams, expenses, and overall financial health. 

With just a few clicks, you can access comprehensive dashboards and reports that give you a holistic view of your side hustle finances. 

This enables you to identify trends, analyze profitability, and make data-driven decisions to optimize your business operations.

3. Simplified Tax Management

Tax obligations can be complex and overwhelming for side hustlers. 

Having the right tools simplifies the process of tax management by automating calculations, generating tax forms, and providing relevant reminders and deadlines. 

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These tools ensure that you stay organized, comply with tax regulations, and maximize your tax deductions, saving you both time and money during tax season.

4. Financial Goal Tracking and Planning

As a side hustler, you likely have specific financial goals in mind, whether it’s saving for a vacation, paying off debt, or investing in your side hustle’s growth. 

The right tools help you track your progress towards these goals by providing goal-setting features, budgeting functionalities, and financial forecasting capabilities. 

By visualizing your financial targets and monitoring your performance, you can stay motivated, stay on track, and make informed decisions to achieve your goals.

5. Enhanced Security and Data Protection

When dealing with sensitive financial information, security is of utmost importance. 

The right tools prioritize data protection by implementing robust security measures, encryption protocols, and secure cloud storage options. 

By using these tools, you can have peace of mind knowing that your financial data is safeguarded from unauthorized access and potential breaches.

The Best Apps to Manage Your Side Hustle Finances

When it comes to managing your side hustle finances, several apps have gained popularity for their features and user-friendly interfaces. 

Here are some of the best apps available that can help you streamline your side hustle finances:

1. QuickBooks Self-Employed

QuickBooks Self-Employed is a comprehensive app designed specifically for freelancers and independent contractors. 

It simplifies side hustle financial management by offering features such as income and expense tracking, invoicing, and tax estimation. 

The app syncs with your bank accounts and credit cards to automatically categorize transactions, saving you time on manual data entry. 

You can easily create and send professional invoices to clients, track your mileage, and estimate your quarterly taxes with accuracy. 

QuickBooks Self-Employed also provides detailed reports and insights into your side hustle finances, allowing you to make informed decisions for growth and profitability. 

With its user-friendly interface and robust features, QuickBooks Self-Employed is a top choice for managing your side hustle finances efficiently.

2. FreshBooks

FreshBooks is an all-in-one accounting app that caters to the needs of freelancers, small businesses, and side hustlers alike. 

With its intuitive interface, you can easily track your time, expenses, and income. FreshBooks offers features such as automated invoicing, client management, expense categorization, and multi-currency support. 

You can create professional-looking invoices and receive payments online, saving you time and simplifying your cash flow management. 

The app provides real-time financial reports and analytics, giving you insights into your side hustle’s performance. 

FreshBooks also integrates with popular payment gateways, collaboration tools, and other business apps to streamline your workflow. 

With its robust feature set and user-friendly design, FreshBooks is an excellent choice for side hustlers looking to manage their finances efficiently.

3. Wave

Wave offers a comprehensive suite of financial tools specifically designed for small businesses and side hustlers. 

With Wave, you can easily track your income and expenses, generate professional invoices, and seamlessly integrate with your bank accounts for automatic transaction categorization. 

The app also includes features for payroll management, receipt scanning, and tax preparation. 

Wave’s intuitive interface and user-friendly design make it easy to navigate and use for those with limited accounting knowledge. 

Whether you’re a freelancer, consultant, or creative professional, Wave provides the essential tools you need to manage your side hustle finances effectively. 

Best of all, Wave offers its services for free, making it an attractive option for those on a tight budget.

4. Expensify

Expensify is an app that simplifies expense tracking and reimbursement for side hustlers. 

It allows you to capture receipts, categorize expenses, and create expense reports effortlessly. 

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With its advanced OCR (optical character recognition) technology, Expensify can automatically extract information from receipts, saving you the hassle of manual data entry. 

You can sync your credit cards and bank accounts, enabling seamless expense tracking. 

The app also streamlines the process of submitting and approving expense reports, making it convenient for side hustlers working with clients or employers. 

Expensify integrates with popular accounting software and offers features such as mileage tracking and corporate card reconciliation. 

By automating expense management, Expensify helps side hustlers stay organized and ensures accurate reimbursement for their business expenses.

5. Mint

Mint is a personal finance app that can also be beneficial for side hustlers looking to manage their finances effectively. 

With Mint, you can connect your bank accounts, credit cards, and other financial accounts to get a comprehensive overview of your finances in one place. 

The app automatically categorizes transactions, allowing you to track your income and expenses effortlessly. 

Mint offers budgeting tools to help you set financial goals, track your spending, and save money. 

You can also receive alerts for bill payments and monitor your credit score within the app. 

Mint’s user-friendly interface and powerful features make it a popular choice for individuals managing their personal finances and side hustlers seeking a consolidated view of their financial health.

6. Xero

Xero is a cloud-based accounting software that offers robust features for small businesses and side hustlers. 

With Xero, you can easily track your income and expenses, reconcile bank transactions, and generate professional invoices. 

The app provides real-time financial insights through customizable reports and dashboards. 

Xero also integrates with a wide range of third-party apps, allowing you to streamline your workflow and automate tasks. 

With its powerful features and scalability, Xero is suitable for side hustlers who want to grow their business and manage their finances efficiently.

7. Zoho Books

Zoho Books is a comprehensive accounting software that caters to the needs of small businesses and side hustlers. 

The app offers features such as income and expense tracking, invoicing, bank reconciliation, and inventory management. 

Zoho Books provides customizable templates for professional-looking invoices and supports multi-currency transactions. 

You can generate financial reports, collaborate with your accountant, and automate recurring transactions. 

Zoho Books also integrates with other Zoho apps and third-party services, providing a seamless experience for managing your side hustle finances.

8. Hurdlr

Hurdlr is a financial management app designed specifically for freelancers, independent contractors, and side hustlers. 

The app automatically tracks your income, expenses, and mileage, providing real-time insights into your finances. 

Hurdlr helps you estimate taxes, generate expense reports, and even provides tax deduction recommendations. 

It integrates with popular payment platforms and offers features for invoicing and time tracking. 

Hurdlr’s user-friendly interface and automation capabilities make it a convenient choice for side hustlers looking to simplify their financial management.

9. And Co

And Co is a comprehensive app that combines features for invoicing, expense tracking, contracts, and time tracking. 

The app helps side hustlers streamline their administrative tasks and manage their finances efficiently. 

With And Co, you can create professional contracts, track your time, and generate invoices with ease. 

The app also offers automated expense tracking, allowing you to categorize expenses and generate expense reports effortlessly. 

And Co’s all-in-one approach makes it a convenient solution for side hustlers looking to simplify their business management.

10. PocketSmith

PocketSmith is a personal finance and budgeting app that can be beneficial for side hustlers managing their finances. 

The app allows you to track your income, expenses, and savings goals. 

PocketSmith provides visualizations and forecasting tools to help you plan your finances and make informed decisions. 

You can connect your bank accounts, credit cards, and investment accounts to get a holistic view of your financial health. 

PocketSmith’s budgeting features enable you to create budgets, set savings targets, and monitor your progress. 

With its focus on long-term financial planning, PocketSmith is a useful tool for side hustlers looking to achieve their financial goals.

11. HoneyBook

HoneyBook is a popular app designed specifically for creative professionals and freelancers to manage their side hustle finances and client relationships. 

The app offers features for project management, invoicing, contracts, and payment processing. 

HoneyBook allows you to create professional proposals and contracts, send invoices, and accept online payments from clients. 

It also provides a centralized platform for communication with clients, helping you stay organized and maintain a seamless workflow. 

With its intuitive interface and time-saving automation features, HoneyBook streamlines the financial aspects of your side hustle, allowing you to focus on delivering exceptional work to your clients.

12. Bench

Bench is an online bookkeeping service that simplifies financial management for small businesses and side hustlers. 

When you sign up for Bench, you’re matched with a team of professional bookkeepers who handle your bookkeeping tasks, including reconciling accounts, categorizing transactions, and preparing financial statements. 

The Bench app provides you with real-time access to your financial data and reports, giving you a clear picture of your side hustle’s financial health. 

With Bench, you can offload the time-consuming bookkeeping tasks and gain peace of mind knowing that your finances are in capable hands.

13. Keeper Tax

Keeper Tax is a tax tracking and deduction maximization app designed for freelancers and side hustlers. 

The app helps you automatically track your business expenses, including potential tax deductions, by scanning your bank and credit card transactions. 

Keeper Tax categorizes your expenses and provides personalized tax advice to help you maximize your deductions and save money. 

The app also integrates with popular tax filing software, making tax preparation seamless and efficient. 

With Keeper Tax, you can stay on top of your tax obligations and ensure you’re making the most of your eligible deductions.

14. Invoice2go

Invoice2go is a versatile invoicing and billing app that caters to freelancers and small businesses, including side hustlers. 

The app allows you to create professional invoices, send estimates, and accept payments from clients. 

Invoice2go offers customizable invoice templates and supports multiple currencies, making it suitable for side hustlers working with international clients. 

The app also provides features for expense tracking, time tracking, and generating financial reports. 

With its user-friendly interface and comprehensive invoicing capabilities, Invoice2go simplifies the billing process for side hustlers, ensuring timely payments and improved cash flow.

Wrap Up

Managing your side hustle finances is a crucial aspect of running a successful and sustainable business.

With the right tools and apps at your disposal, you can streamline your financial processes, track income and expenses, generate professional invoices, and gain valuable insights into your financial health. 

These apps offer a range of features and functionalities tailored to the unique needs of side hustlers, whether you’re a freelancer, consultant, creative professional, or small business owner.

By leveraging apps like QuickBooks Self-Employed and FreshBooks, you can simplify your financial management tasks, save time on manual data entry, and focus on growing your side hustle. 

Other powerful tools like Xero, Zoho Books, Hurdlr, And Co, and PocketSmith offer additional capabilities such as payroll management, contract creation, expense tracking, and long-term financial planning.

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