Best Expense Trackers for Freelancers and Side Hustlers

When you’re freelancing or running a side hustle, every dollar matters. Unlike a traditional job where your employer handles tax withholdings and expense tracking, as a freelancer or side hustler, you’re responsible for managing your own finances. That means keeping meticulous records of your income and expenses so you can maximize deductions, avoid IRS headaches, and truly understand your profit margins.

The right expense tracker can make this process painless. Instead of sifting through piles of receipts or guessing at your monthly costs, an expense tracking app or software can automatically log transactions, categorize them for tax purposes, and generate reports to show exactly where your money is going. In 2025, there are more options than ever—ranging from free mobile apps to full-featured accounting software designed specifically for independent workers.

This guide breaks down the best expense trackers for freelancers and side hustlers in 2025, how they work, and what makes them worth considering.

Why Expense Tracking Is Non-Negotiable for Independent Earners

Freelancers and side hustlers often juggle multiple income streams—some from clients, others from platforms like Etsy, Uber, Fiverr, or Upwork. Without a system to track spending, it’s easy to lose sight of profitability.

Here’s why expense tracking is essential:

• Maximize Deductions – You can only deduct expenses you can prove, so having records is critical.

• Avoid Tax Surprises – Knowing your net profit helps you set aside enough for quarterly tax payments.

• Gain Financial Clarity – See which projects or services are most profitable.

• Save Time at Tax Season – No more scrambling to find receipts in April.

The best expense trackers do more than record costs—they simplify your entire financial workflow.

The Best Expense Trackers for Freelancers and Side Hustlers

1. QuickBooks Self-Employed – Best Overall for Freelancers

QuickBooks Self-Employed is a popular choice for freelancers because it combines expense tracking, invoicing, and tax prep tools in one place.

Why We Like It:

• Automatically imports and categorizes bank and credit card transactions.

• Tracks mileage for business trips using GPS.

• Estimates quarterly taxes so you know how much to set aside.

Best For: Freelancers with multiple income streams who also want built-in tax features.

Potential Drawback: Monthly subscription cost may be too high for very small side hustles.

2. Wave – Best Free Option

Wave is a completely free accounting tool that offers expense tracking, invoicing, and receipt scanning without monthly fees.

Why We Like It:

• No cost for core features, making it ideal for new side hustlers.

• Cloud-based and accessible from any device.

• Generates financial reports for year-end tax filing.

Best For: Beginners who want to start tracking without committing to paid software.

Potential Drawback: Limited automation compared to premium tools.

3. FreshBooks – Best for Client-Based Businesses

FreshBooks is designed for service-based entrepreneurs who work with clients on projects.

Why We Like It:

• Simple invoicing and expense tracking in one platform.

• Allows you to log billable expenses directly to client invoices.

• Integrates with bank accounts for automated transaction tracking.

Best For: Freelancers who frequently bill clients for project-related expenses.

Potential Drawback: More expensive than other trackers if you don’t need client invoicing.

4. Expensify – Best for On-the-Go Tracking

Expensify is perfect for freelancers and side hustlers who travel frequently or need to log expenses while on the move.

Why We Like It:

• Snap a photo of a receipt and the app automatically extracts the details.

• Works offline and syncs later when connected.

• Integrates with accounting software for smooth record keeping.

Best For: Side hustlers who want quick, mobile-first expense tracking.

Potential Drawback: May feel too basic for those who want full accounting features.

5. Zoho Expense – Best for Side Hustlers Scaling to a Small Business

Zoho Expense offers enterprise-level features at a reasonable price, making it great for side hustlers ready to expand.

Why We Like It:

• Advanced categorization for detailed reporting.

• Can manage multiple projects and team members.

• Integrates seamlessly with Zoho Books and other business tools.

Best For: Freelancers who are starting to hire subcontractors or manage multiple projects.

Potential Drawback: More complex setup than simple expense tracking apps.

How to Choose the Right Expense Tracker

Not every freelancer or side hustler needs the same tool. Consider these factors when making your choice:

1. Budget – Free tools like Wave are great for beginners, but investing in QuickBooks Self-Employed or FreshBooks can save time and money in the long run.

2. Automation Needs – If you want hands-off tracking, look for tools with bank sync and auto-categorization.

3. Additional Features – Do you also need invoicing, time tracking, or mileage tracking?

4. Ease of Use – Some tools are better for tech-savvy users, while others offer simple, beginner-friendly interfaces.

Tips for Getting the Most Out of Your Expense Tracker

• Separate Business and Personal Finances – Use a dedicated bank account for side hustle income and expenses.

• Log Expenses Immediately – Don’t wait until the end of the month; update regularly to avoid missing deductions.

• Review Reports Monthly – Look for spending patterns and ways to reduce costs.

• Back Up Your Data – Cloud-based tools often handle this automatically, but make sure you have a backup plan.

Final Thoughts: Expense Tracking Is the Foundation of a Profitable Side Hustle

If you want your freelance or side hustle income to grow, you need visibility into your spending. The best expense trackers for freelancers and side hustlers in 2025 make it simple to log, categorize, and analyze your expenses—so you can focus more on earning and less on worrying about the IRS. Whether you choose the automation power of QuickBooks, the free simplicity of Wave, or the flexibility of FreshBooks, having the right tool will give you financial clarity and peace of mind.