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The most productive budgeting tool for you is the one you actually use, whether it’s a full-featured app, a simplified spreadsheet, or more manual means. To help you in your search for the right budgeting app, we’ve ranked ten of the most productive budgeting apps available.
Mint, once one of the top flexible budgeting apps, is no longer downloadable and doesn’t appear on this list.
Our editors are committed to bringing you unbiased reviews and information. Our editorial content is influenced by advertisers. We use data-driven methodologies to compare monetary products and businesses, so that all are measured equally. You can read more about our editorial rules and our banking method for obtaining ratings below.
We compared 15 budgeting apps to find some of the most productive mobile apps available for managing budgets, savings, and spending. For this review, Forbes Advisor focused on apps available to American consumers. The 10 most sensible applications are offering a variety of useful functions and equipment that can meet the needs of monetary control and private finances.
The main points of the application are accurate as of July 22, 2024.
We chose Quicken Simplifi as the most productive app for managing family finances because it makes it less difficult to keep track of bills, savings goals, and money flow. Also, you can add other people to your budget, adding your spouse or financial planner.
Why we love it
Simplifi has all the budgeting features you want to manage your finances in one place. You can automatically import transactions, tag and report transactions, get real-time alerts for uncommon expenses or upcoming bills, set savings goals, and generate reports.
what we don’t like
Simplifi does not offer a free trial and we don’t like that they offer you other costs if you pay for your subscription through Google Play or the website’s App Store.
Who is it for?
Quicken Simplifi is ideal for families looking for an all-in-one solution for managing family finances.
Quicken Simplifi costs $35. 88 per year with a 30-day money-back guarantee. The app connects your bank accounts, credit cards, and loans so you can keep track of your money and overall net worth. You can also create traditional expense categories, set savings goals, and get consistent, personalized insights. The Simplifi app is available for iOS (4. 2 stars) and Android (4. 5 stars).
We chose YNAB because it helps users discover and focus on their money priorities by giving every dollar a job. In the app, there are several features to set goals and create effective budgets.
Why we love it
We love that YNAB provides adjustable goal tracking so you can customize your budget as your needs evolve and reporting to help you better understand your financial habits. YNAB also has a team of experts, guides on common questions, and free online workshops.
what we don’t like
We don’t like that you can only use cash that’s already in your connected bank account to allocate budget to your budget with YNAB. You can’t plan your next salary, for example.
Who is it for?
YNAB is ideal for others who need to proactively manage their finances and budget for every paycheck. This app is not optimized for passive budgeting or abnormal usage.
YNAB, short for You Need A Budget, is an award-winning budgeting program that specializes in helping consumers save money and get out of debt. It is available from mobile and desktop platforms and from voice-enabled devices. There is no upfront commitment to YNAB and you can check it out risk-free for the first 34 days.
YNAB prides itself on focusing on its current scenario and long-term probabilities rather than looking beyond monetary information. The YNAB app is available for iOS (4. 8 stars) and Android (4. 7 stars).
CountAbout is our most sensible option for sole proprietors because it has accounting, bookkeeping, and budgeting features so you can manage your personal and business finances in one place.
Why we love it
CountAbout is the budgeting app on our list with built-in invoicing and receipt capture features. In addition, you can create customizable budgets and reports for accounting purposes.
All plans come with a 45-day free trial, one of the longest trials on our list.
what we don’t like
There is no single edition of CountAbout. This is unfortunate, given that the Standard plan still requires you to import transactions manually. Some users also report that they found it difficult to navigate the app at first.
Who is it for?
CountAbout is ideal for sole and self-employed investors who have a single platform to manage and control their personal and business finances.
CountAbout offers two plans: Standard ($9. 99 per year) and Premium ($39. 99 per year). Both plans offer a 45-day free trial, so you can check them out before committing.
The Standard plan allows you to enter transactions manually, import Quicken Interchange Format (QIF) files, and view your savings projections. The Premium plan goes a step further by connecting to your bank accounts and credit cards, so you don’t want to import your spending manually.
You can also upload loads of receipt symbols ($10 per year) and small business invoicing ($60 per year). The CountAbout app is available on iOS (4. 2 stars) and Android (4. 5 stars).
We chose Empower Personal Dashboard™ (formerly Personal Capital) as the budget app to track net worth because of its outstanding reporting, investment management, and expense tracking features.
Why we love it
We like Empower because it provides clients with a holistic view of their monetary situation, from day-to-day expenses to portfolio performance. It also offers desktop features for those who prefer to budget on a computer.
What we don’t like
We don’t like that you want to have at least $100,000 in investment savings to use this platform’s automated consulting services.
Who is it for?
Empower Personal Dashboard is ideal for those who need a free app that shows them their overall finances and perceives their net worth.
Empower Personal Dashboard™ offers several savings kits designed to help you build retirement and emergency savings and pay off debt. It also has the right consulting team, adding investment monitoring, investment payment analyzer, monetary planning, money tracking, educational charge planning and real data. -Monitoring net value over time. All of these teams give you a detailed review of your current money situation while helping you plan for the future.
Getting started with the app is simple: All users want to do is link bank accounts, credit cards, student loans, mortgages, and other items in their budget. From there, the app will combine data to produce a complete monetary picture. The Empower app is available for iOS (4. 7 stars) and Android (4. 1 stars).
We chose Monarch Money because it provides a review of your finances, allowing you to see all your accounts in one place. It is one of the most productive Mint replacements because, like Mint, it offers additional features. Monarch will help you collaborate with your spouse or a financial advisor on your budget and give you more features when creating savings goals.
Why we love it
We love Monarch because you can customize your dashboard, opting for what you need to see and what you don’t need to see. Monarch categorizes your trades for you and you can access and delete them all in one place. Monarch is available on desktop and mobile, unlike many other popular budgeting tools.
What we don’t like
We don’t like that Monarch is rarely very free, as Mint was. You’ll pay $14. 99 or $8. 33 per month for this app, but you’ll get an ad-free budgeting experience.
Who is it for?
Monarch is ideal for those who need to link monetary accounts and set savings goals and non-public budgets. The app provides a comprehensive private finance platform and you can budget alone or with a partner.
Monarch listens to its users and adjusts things accordingly. According to their website, new features are released every month based on user feedback. Some other wonderful features of Monarch include tracking net worth, investments, expenses and subscriptions, budget transfers, and customizable expense reports. Monarch is available on iOS (4. 9 stars) and Android (4. 8 stars). Former Mint users can get a reduction in the introductory price.
We chose the Goodbudget app because it offers an undeniable virtual edition of the envelope method shown. By dividing your budget into envelopes sorted by category, like rent and groceries, Goodbudget helps you plan your spending by giving every dollar a purpose.
Why we love it
We like the Goodbudget app because it’s optimized for budgeting envelopes as a couple or with family members. You can sync a shared family budget with other people, and the free edition offers a lot of features.
What we don’t like
We don’t like that Goodbudget doesn’t let you link your bank accounts, meaning you have to keep track of everything manually. You also can’t see all your finances in one place.
Who is it for?
Goodbudget is what you want if you like the concept of using the envelope formula for budgeting and want to create a strict spending plan.
The free edition of Goodbudget is similar to the paid edition, Goodbudget Plus. The Plus edition includes the same features with expanded capabilities. For example, the free edition offers 20 envelopes to organize your finances, while the paid edition gives you unlimited envelopes. .
The platform is available from a mobile device, tablet or desktop computer. The Goodbudget app is available for iOS (4. 6 stars) and Android (4. 1 stars).
Goodbudget also offers Budget Bootcamp courses to teach users how and why to create a budget that works for them, how to avoid living paycheck to paycheck, how to get out of debt, and a crash course in dealing with monetary emergencies.
We EveryDollar is the most productive app for deleveraging, thanks to its zero-based budgeting technique. This technique encourages you to intentionally allocate every dollar of income source to avoid overspending and work to get rid of debt.
Why we love it
We love EveryDollar’s easy-to-use interface and the ability to customize budget categories to meet your needs. The app offers a free edition, as well as a 14-day free trial if you need to check out Premium.
What we don’t like
You will not be able to import transactions automatically with this app unless you pay for a Premium subscription. Free plans are blocked by manual imports.
Who is it for?
EveryDollar is most productive and suitable for those who are committed to paying off their debts and are comfortable with the zero-based budgeting approach to doing so.
EveryDollar’s free plan has essential budgeting features, such as creating traditional categories, manually entering transactions, and setting invoice due dates. You can access your budgets on devices and family circle percentage budgets with others.
The EveryDollar Plus subscription costs $17. 99 per month or $79. 99 per year. Unlock additional features like automatic transactions, bank account syncing, and consistent, personalized recommendations to track spending. In addition, users also have access to the organization’s monetary training calls. The EveryDollar app is available on Android (3. 5 stars) and iOS (4. 7 stars).
We chose Credit Karma as the most productive app for tracking your credit because it helps you make the most sensible adjustments to your score and financial health. It’s not a true replacement for a budgeting app, however, it’s a spending and net worth tracking team. that is useful for managing money.
Why we love it
We appreciate the fact that Credit Karma gives you an overview of your monetary health. You can categorize expenses, track expenses throughout the month, and monitor your net worth across other accounts. You also have access to various credit tracking teams that alert you. when your score is adjusted and gives you personalized recommendations for your score.
what we don’t like
We don’t like that Credit Karma doesn’t provide budgeting features common in other apps, such as the ability to create traditional budgets or set financial goals.
Who is it for?
Credit Karma is ideal for those who need to monitor their credits and gain insight into their overall monetary strengths and weaknesses.
Credit Karma is a free app that provides you with access to your credit reports from TransUnion and Equifax. It also provides cash control teams to keep track of your expenses and control your net worth.
When Mint closed in 2024, a portion was absorbed through Intuit Credit Karma. You can link accounts from thousands of US monetary establishments to track your net worth. However, not all features and past data supported in Mint need to be had in Credit Karma. The Credit Karma app is available for iOS (4. 8 stars) and Android (4. 7 stars).
We chose PocketGuard as the most productive app for tracking expenses thanks to its undeniable interface. It shows how much cash you have, how much you spend on bills, and how much you have left. The app also shows you a personalized pie chart of your expenses. To overspend, you can set spending limits right in the app.
Why we love it
We like PocketGuard because it will let you choose between an envelope, a 50/30/20 budget, and a zero-based budget. You’re not stuck with a budgeting strategy you don’t like and you can absolutely customize your spending plan to meet your needs.
what we don’t like
We don’t like the limitations of loose editing of this app. If you want all the features, such as the ability to customize your spending categories and enter information manually, you want to pay for the Plus edition.
Who is it for?
PocketGuard is what you want if you want to keep track of how much you have left to spend after paying your expenses and other expenses. The app can even notify you when you’re about to miss a set spending limit or run out of budget. .
The In My Pocket feature helps you manage your coins by showing how many coins you want to save or spend after meeting your bills, budgets, and goals. You need to link your bank accounts and credit accounts for In My Pocket. Pocketguard identifies your recurring income, spending and savings goals and calculates your monthly coins.
Note that the app limits some features of the free version, such as tracking your money and the ability to create your own spending categories. The PocketGuard app is available for iOS (4. 6 stars) and Android (3. 7 stars).
We found Fudget to be the best option for those looking for simplicity in a budgeting app. It lacks many of the features found in competing apps, but its undeniable strategy could appeal to users who find other devices too complex or cluttered.
Why we like it
Fudget all the features that can make it difficult to use other budgeting apps. All you want to do is enter your income, upload your expenses, and mark the fees as paid or unpaid (almost like a checkbook). Fudget also allows you to replace currency symbols and languages.
What we don’t like
Fudget’s simplicity is his greatest strength and his greatest weakness. You can’t sync accounts, automate expense tracking, or track your net worth. Also, many of the app’s features are only available in the paid version.
Who is it for?
Fudget will likely appeal to top school or high school students who need to be informed about how to budget without being overwhelmed by complex features. It is also useful for those who have an undeniable monetary situation or are tracking their expenses for an express purpose or spending category. how to renovate your home.
Fudget’s free plan includes up to five quotes and 250 entries on a single device. Fudget Plus subscription costs $19. 99 per year or $14. 99 every six months. Unlock unlimited quotes and entries, multi-device syncing, and additional features like folders. , reminders and a calculator. The Fudget app is available for iOS (4. 7 stars) and Android (4. 6 stars).
To create this list, Forbes Advisor analyzed 15 budgeting apps. We categorized the budget app into 18 knowledge issues in the categories of customer ratings, app-related pricing, customer insights security and encryption, desktop availability, and ability to share the app with someone else.
Here is the weighting assigned to the category:
Budgeting apps with a higher overall score relative to their number of reviews are at the top of our list, as are those that are absolutely free. We’ve also prioritized mobile apps with complex security features, such as biometric authentication, multi-factor authentication, and encryption. Apps that allow you to connect unlimited accounts have moved to the top of our list, as have apps that also have an online page edition and allow sharing with family or friends.
Since more than a portion of Americans live paycheck to paycheck, according to several surveys, budgeting is imperative to helping others free themselves from monetary hardship and create monetary stability. The United States has seen rising housing and healthcare prices over the past 30 years, leaving less cash to put toward savings and retirement.
Not having a money plan or budget ready can cause stress and overwhelm you, leading to higher expenses, living beyond your means, and perpetuating destructive cycles. But having a fixed budget as part of your overall cash control can make a big difference, not only in helping you reach your financial goals, but also in reducing stress and anxiety and improving your overall quality of life.
Creating and managing a successful monthly budget is all about knowing how much cash you’re coming in and how you’re spending it. Your source of income deserves to exceed your expenses, and you deserve to have enough flexibility to set aside cash each month for savings and retirement. If your balance is rarely where you’d like it to be, it’s time to create a budget plan.
To start making a budget plan, make a list of your sources of income and expenses. Connecting your bank accounts to your favorite budgeting app is the easiest way to do this, but you can also do it manually with pen and paper or a spreadsheet.
Next, separate your ongoing expenses from your variable expenses. Fixed expenses are those that are not replaced month-to-month, such as housing, utilities, insurance, childcare, and loan bills, in addition to cars, student loans, or credit card bills. Variable expenses include groceries, entertainment, dining out, vacations, and streaming services. Finally, consider monthly contributions for savings goals such as retirement or an emergency fund.
If your expenses exceed your income, first take a look at your variable expenses to see where you can cut the budget. After that, you can use tactics to reduce your ongoing expenses, such as moving to a community with lower rents or refinancing your debt.
Budgeting for groceries can be tricky – everyone wants to eat. If you’re not sure how much to budget for groceries, compare your expenses to the USDA Food Plan. Keep in mind that strict nutritional restrictions can increase the grocery bill.
If you need to lower your grocery bill, meal prep plans can help. Create a weekly plan to prepare recipes that share ingredients or use pantry staples. Meat is a significant expense, so adopting a meatless meal on Mondays can also help reduce grocery costs. Bulk single-use packaging can also save you money.
Vacations can be a great way to save if you have wiggle room in your budget. The first step in budgeting for your vacation is to determine how much you need to spend and when you should travel. If you’re planning a $5,000 beach vacation a year from now, you can split that amount into a monthly savings of about $420.
Not sure if you need to dedicate it to an expensive trip?Consider less expensive features, such as a road trip, or keep an eye out for a bargain. Budgeting for a vacation means having the budget available when airfares drop or the ambitious ski chalet becomes available. You have to book.
To calculate how much you’re worth spending on rent, use the 28/36 rule. This budgeting rule states that you don’t deserve to spend more than 28% of your total source of pre-tax income on housing or 36% of your total source of income. source of income on general debt, which can come from housing and a car payment or student loans. Using this rule, if you earn $3,400 per month, you can get up to $952 in rent and $1,224 total per month toward debt repayment. .
Sharing an apartment or space can help reduce your housing budget, as can moving to a less expensive area. If finding more affordable housing is an option, you may want to look into other areas of your budget to cut costs.
Aside from purchasing a space or a car, a wedding is one of the largest expenses most people will ever pay, costing tens of thousands of dollars.
If you’re saving for a wedding, first who might be willing to contribute. Family members can offer to pay for one aspect of a wedding or give a contribution of a certain amount to be used for whatever you and your future wife see fit. Next, figure out how much you and your wife can contribute.
Once you have a foundational budget, how will you allocate your funds. List typical wedding expenses and determine which one is most important to you. Some campaign must-haves include:
Focus your spending on the things you value most. If you want to cut costs, check out wedding planning apps.
Budgeting is a procedure that begins with identifying your monetary goals as well as observing your spending and saving habits. When you truly perceive how much money is coming in and going out, you are better prepared to deal with the expected and unforeseen demanding monetary situations that life throws at you.
The mindset you adopt when managing your cash is important. Making a budget is a must-have first step in managing your finances. If you’ve never worked with a private budget before, it may take a few cycles for your behavior to improve. catch up. And if you have money behavior that you want to improve, the right app can help.
A budget app is an app designed to help you optimize spending and save the possible choices you make each month. By bringing all your commitments and money goals together in one place, a budgeting app can give you greater visibility into your potential money choices and habits.
Similar to apps you might use with your bank or credit union, a budgeting app can offer additional features, such as setting money goals and keeping track of money in multiple money accounts. Budgeting apps can sync with your bank and credit card accounts to provide a holistic view. of your finances.
Some budgeting apps will use a quick budgeting technique, such as envelope budgeting or zero-based budgeting, while others will use the budgeting technique more generally, allowing customization to meet your needs. A comprehensive budget app allows you to track your expenses, manage recurring bill payments, set savings goals, and manage monthly money flow.
Choosing a budgeting app may seem like a small solution compared to other private finance options. But proper budgeting can make a big difference in your private financial life.
When deciding on a budgeting app, make sure to think about your wishes and goals first. The right budgeting app can give you useful information and insights about your spending and savings. But before that happens, identifying your monetary goals will allow you to narrow down your chances. Find the budgeting app that’s right for you.
Aside from your goals, here are some features to consider before committing to a budgeting app:
Budgeting apps are the only way to manage your cash and track your expenses. Here are some opportunities to consider for budgeting apps.
While mobile apps are convenient for daily budgeting, you may prefer the software for a more physically powerful money control experience. Software such as QuickBooks or Quicken offers extensive capability beyond budgeting, such as tax and payment control software integration. However, those extra features sometimes charge more than mobile apps, so think about what you can spend.
Budgets in spreadsheets are highly customizable, making this approach ideal for anyone who wants something more convenient than budgeting apps. With a spreadsheet, you can record your income, track your expenses, and see where your weekly or monthly cash is going. Excel and Google sheets are popular choices.
The 50/30/20 budgeting approach lends itself well to budgeting with a spreadsheet because you can divide expenses, discretionary expenses, and savings into categories within the sheet and assign individual expenses to the category. To get started, use our 50/30/20. 20 budgeting calculator.
For some, creating a detailed budget may not be mandatory or may seem too complex. When this is true, simply tracking your expenses can also be a good way to start. You can do this by periodically checking your bank or credits. card statements or through an app. Spending tracking apps like Mint give you a review of your spending by category. While you can use Mint to set a budget, you can also use it to sync your other bank accounts and see your activity more clearly. .
If you like a mobile app, you probably prefer manual budgeting. Budgeting without generation’s help is a smart way to take responsibility for your spending. Budgeting in an envelope or reloading money is a proven formula for visualizing your budget that can be done manually. .
When you get paid, distribute a portion of your salary in envelopes. Each envelope will be designated for an express category, such as rent, food, or gas. With this system, you give every penny of your salary a goal and you can not spend more than what’s in your envelopes.
Yes, budgeting apps are worth it, especially when you understand what your money goals are and use the right app to achieve them. According to anecdotal reports, some budgeting apps save education users thousands of dollars in the first year alone. Additionally, consumers are making more considered purchases by tracking their spending and money flow.
Budgeting apps are a wonderful tool to make sure you stick to your budget, not just make plans. They can give you insight into your spending habits, identify where your cash goes, and where you can make improvements.
As with any app, its value or not depends largely on how you use it. One challenge when it comes to budgeting in general, whether tracked with an app, spreadsheet, or more manual means, is compromise. not only to have a budget, but also to make financial decisions accordingly. Many other people find that the interactivity and automation provided through a budgeting app helps them stay motivated and on top of their personal finances.
Rachel Murphy, editor-in-chief of Forbes Advisor Banking, and Cassidy Horton, financial critic and editor, contributed to this report.
Here are several wonderful flexible budgeting apps that may possibly suit your needs. However, the best flexible budget app for you is the one that will best meet your personal financial goals. To find the right app for you, feel free to download a few and check them out for yourself.
While many budget apps claim to have user-friendly interfaces, they all have other tastes and preferences. It’s hard to say which budgeting app to use, however, those seven highly-rated budgeting apps are designed to provide a positive user experience.
The most productive budgeting app for couples is Honeydue, a free app that promotes transparency and collaboration between two other people managing their money together. Other budget-friendly apps for couples include Goodbudget and YNAB.
If you don’t need percentages of your bank account data with a budgeting app, YNAB allows file-based transaction imports as well as manual and automatic tracking. Goodbudget also does not log into your bank account, but asks you to record transactions manually. .