Please note that the Mint app, a popular choice for budgeting (one of the best budget apps), will be discontinued by owner Intuit as of January 1, 2024. Intuit plans to integrate its user base into Credit Karma. When choosing a budgeting app, consider your financial needs and preferences to find the one that suits you best.
Smartphones have become an essential part of our daily lives, and it was only a matter of time before they became indispensable tools for managing our finances. Nowadays, individuals seeking to budget and monitor their spending have access to a variety of feature-rich apps that go beyond basic budgeting. These apps can be customized to provide spending alerts, automate savings, and generate financial reports. The best budgeting app for you depends on your preferences and financial goals. Here, we’ll explore nine money-management apps, all compatible with both Apple and Android devices unless stated otherwise.
Best Budget Apps In Detail
- Simplifi by Quicken: Best for Budgeting Beginners
- Price: $5.99 per month or $35.99 annually
- Simplifi by Quicken offers a streamlined budgeting tool that allows users to link and sync an unlimited number of financial accounts. It can automatically detect regular bills, recommend personalized spending plans, and provide spending alerts. The app is ad-free and comes with a 30-day money-back guarantee.
- Empower: Best for Tracking Investments
- Price: Free (some services come with a fee)
- Formerly known as Personal Capital, Empower is unique in that it includes wealth management features. Users can link various financial accounts, create detailed budgets, set savings goals, and track net worth in real time.
- YNAB (You Need a Budget): Best for Zero-Based Budgeting
- Price: $14.99 per month or $99 annually (34-day free trial available)
- YNAB, short for You Need a Budget, is a versatile app and software program that supports zero-based budgeting. It allows users to link bank accounts, create budgets, and sync data in real time. The app can also track financial goals and generate progress reports.
- Goodbudget: Best for Envelope System Budgeting
- Price: Free (plus version available for $8 per month or $70 annually)
- Goodbudget is based on the envelope budgeting system. Users can allocate money into digital envelopes that sync across multiple devices. The app helps couples manage shared budgets and offers tools for saving and debt repayment.
- BusyKid: Best for Teaching Children to Budget
- Price: $48 per year (for up to five children)
- BusyKid is an excellent tool for introducing children to budgeting. It allows kids to track chores, allocate allowances to savings, spending, and sharing categories. Parents retain control over savings and sharing decisions.
- PocketGuard: Best Streamlined Budgeting App
- Price: Free (PocketGuard Plus available for $7.99 per month or $34.99 annually)
- PocketGuard features a user-friendly interface that simplifies expense tracking and budget management. It links to financial accounts, categorizes spending, and sends alerts to help users stay within budget. Savings goals can also be set and tracked.
- Honeydue: Best for Tracking Expenses With a Partner
- Price: Free (in-app advertising may be present)
- Honeydue is an ideal app for couples looking to manage their finances jointly. It allows partners to link financial accounts, set shared budgets, and view each other’s spending. The app also offers a chat feature for financial discussions.
- Monarch: Best for a Customizable Display
- Price: $14.99 per month or $99.99 annually (7-day free trial available)
- Monarch provides users with extensive control over their app’s dashboard and display. It offers tracking and bank connectivity features, along with unlimited customization for spending categories. Users can visualize their net worth, monitor bills, and collaborate with partners or financial advisors.
The world of budgeting and money management has been revolutionized by the proliferation of budget apps, and there’s a perfect one out there to suit your unique financial needs. Whether you’re a budgeting novice or an experienced investor, these best budget apps offer a range of features to help you take control of your finances. From Simplifi by Quicken, ideal for beginners, to Empower, offering investment tracking, and YNAB for zero-based budgeting enthusiasts, you have a wealth of options at your fingertips.
For those who prefer the envelope system, Goodbudget is a solid choice, while BusyKid can teach children valuable budgeting lessons. Meanwhile, PocketGuard streamlines budgeting with its user-friendly interface, and Honeydue fosters financial harmony between partners. Monarch appeals to those who value customization, and minimalists can even explore the budgeting tools within their existing banking apps.
With these best budget apps, managing your finances has never been more accessible and convenient. So, don’t hesitate to explore the world of digital budgeting and discover the one that suits you best among the top contenders in the realm of Best Budget Apps.
