Best Budgeting Apps
The best budgeting applications help you comprehend your income and expenditures, allowing you to exert maximum financial control. Apps for budgeting may link to your bank account and credit cards to automatically download transactions and classify your spending in accordance with your chosen budget.
The best budgeting applications are available at an accessible price range, are simple to use and interface with your accounts, and include features that correspond to your budgeting approach.
The Top 6 Budgeting Applications of 2022
- Best Overall: You Need a Budget (YNAB)
- Best Free Budgeting App: Mint
- Best for Cash Flow: Simplifi by Quicken
- Best for Overspenders: PocketGuard
- Best for Building Wealth: Personal Capital
- Best for Couples: Zeta
BEST OVERALL
You Need a Budget Plan (YNAB)
- Cost is $98,99 per year
- Bank Sync: Yes
- Free Trial Duration:
Why We Picked It
You Need a Budget (YNAB) ranks first due to the company’s well-known budgeting concept and reputation. According to YNAB, novice budgeters save an average of $600 in their first two months and over $6,000 in their first year. Although YNAB is the most expensive choice on our list, the company offers a free trial period of 34 days.
Pros & Cons
Pros
- Complete budget makeover
- Free trial of 34 days
- Superior customer service and exhaustive instruction
Cons
- $98.99 annually
- More time-consuming to acquire
- Recent sync issues
Overview
YNAB ranks first on our list due to its budgeting strategy. The company provides a 34-day free trial (no credit card necessary), after which the annual fee is $98.99. If you choose to pay less upfront, the monthly is $14.99.
You may sync your bank accounts with YNAB, import your data from a file, or enter each transaction manually. The company proposes beginning with video tutorials, a live workshop, or a manual to understand the app’s fundamentals. Unlike other rivals, YNAB provides a proactive budgeting strategy rather than tracking what you have previously spent.
After registering, you establish your initial budget and designate each dollar a purpose, such as rent or vehicle payment. The objective is to go ahead by at least one month, so you are spending money you earned 30 days ago. The company provides substantial educational resources and customer service to help you stay on track.
Privacy and security are stated to be YNAB’s primary priorities. Your data is protected by bank-level encryption for all data, best practices for password security, third-party audits, and more.
BEST FREE BUDGETING APP
Mint
- Cost: Free
- Bank Sync: Yes
- No Free Trial:
Why We Picked It
Mint is distinctive for several reasons. With 25 million users, it is one of the most popular budgeting applications accessible. The app is accessible and free for budgeters of all skill levels. In addition to bill payment reminders, investment tracking, and access to your TransUnion credit score, Mint is our pick for the best free budgeting app.
Pros & Cons
Pros
- Free app for budgeting
- No cost TransUnion credit ratings
- Investment monitoring
Cons
- In-app product advertisements
- Some concerns about technical problems
- Spending classification might be improved
Overview
Mint provides the most popular free budgeting app on the market. It is an excellent alternative for those who wish to change their spending habits. There may be targeted financial product adverts within the app.
You may sync your financial accounts within the app or enter transactions manually. Mint enables you to view all your accounts in one location and manage your daily spending. The application automatically categorizes your expenditures so that you may view category totals at a glance. In addition to monthly bill tracking, Mint provides payment reminders to prevent late fines. The app also allows you to monitor your assets and review portfolio costs. A few of the educational services provided by Mint include a house affordability calculator, a loan repayment calculator, and a blog covering several personal financial subjects.
Using security scanning with Verisign, multi-factor authentication, and touch ID mobile access, Mint safeguards your data. The company saves your login information in a separate database encrypted with many layers of hardware and software.
Best FOR CASH FLOW
Simplifi Powered by Quicken
- Cost is $49.99 per year
- Bank Sync: Yes
- Free 30-Day Trial
Why We Picked It
Simplifi by Quicken receives great reviews since it provides a customized spending plan with real-time updates of the remaining funds for the month. The app synchronizes your bank accounts to display your current financial standing and your progress toward your financial goals. Simplifi by Quicken also records your unused monthly fees and subscriptions.
Pros & Cons
Pros
- Robust cash flow instruments
- Checklists for prudent spending
- Free thirty-day trial
Cons
- $49.99 annually
- Some concerns about technical problems
Overview
The best app for tracking cash flow is Simplifi by Quicken due to its efficient tracking capabilities. It is the best way to keep track of how much money you have available between paychecks. The app provides a free 30-day trial, after which it costs $3.99 per month (billed annually at $49.99) or $5.99 per month if you prefer not to pay in advance.
To get started, you must sync your bank accounts, after which you will get a comprehensive view of your finances. The app automatically classifies your spending, keeps track of regular invoices and subscriptions, and monitors upcoming expenditures.
The app’s custom watchlists, which allow you to restrict spending by category or payee, are an outstanding tool. Additionally, the individualized spending plan monitors cash flow to ensure that you never spend more than you earn. Simplifi by Quicken provides advice while you use the app, and there is also a blog with instructional information available.
The app’s parent company, Quicken, places a high value on security and privacy. Since 1984, Quicken has been entrusted with sensitive financial data and continues to develop innovative security procedures. The app transmits financial data using 256-bit encryption and keeps the information private.
BEST FOR OVERSPENDERS
PocketGuard
- Price: free/$7.99 per month, $34.99 per year, or $79.99 for a lifetime membership
- Bank Sync: Yes
- Free Version Available for Trial
Why We Picked It
The PocketGuard app earned the cut because it aids in preventing expenditures. The company employs an algorithm to track your income, expenses, and savings goals in order to calculate your daily spending limit. These spending restrictions make it simpler to stop overspending and take charge of your financial goals.
Pros & Cons
Pros
- Free simple budgeting app
- An instantaneous view of cash flow
- Simple to use
Cons
- PocketGuard Plus is not free.
- No phone support
- Some concerns about technical problems
Overview
PocketGuard took the top rank as the best product for overspenders since its features are geared at assisting customers in controlling their spending. The app provides both a free and a premium paid version, PocketGuard Plus.
You must link your bank, savings, and credit card accounts to get started. The app can track your spending and savings, as well as alert you when credit card payments are due. The “In My Pocket” function of PocketGuard employs an algorithm to determine how much money you have available to spend based on your income, forthcoming payments, goals, current spending, and budgets.
The app provides an intelligent bill reminder to keep track of due dates and identifies areas where you may be able to bargain for reduced prices. In addition, there is an automated savings function that allows you to establish a goal and save automatically. PocketGuard transfers the funds to your bank account automatically.
PocketGuard Plus provides extra capabilities such as the ability to create categories, modify transaction dates, export data, track cash, manage ATM deposits and withdrawals, and divide transactions. Additionally, the company provides an educational blog to provide extra learning opportunities.
With 256-bit encryption, a 4-digit PIN, and biometrics like Touch ID and Face ID, PocketGuard prioritizes security.
BEST FOR BUILDING WEALTH
Personal Capital
- Price: Free with Paid Investment Service Options
- Bank Sync: Yes
- No Free Trial:
Why We Picked It
Personal Capital has a high ranking because the company provides the best free wealth-building tools. You may sync your financial accounts in one location to monitor your net worth, prepare for the future with the Retirement Planner, and analyze portfolio costs with the Fee Analyzer.
Pros & Cons
Pros
- Free app for money management
- Tool for Retirement Planner
- Tool for Education Planner
- Asset monitoring
- Portfolio Fee Analyzer instrument
Cons
- Less attentive to budgeting
- There is no ability to input transactions manually for budgeting
- Telephone solicitations for wealth management services
Overview
Personal Capital tops our list as the best app for wealth accumulation. The product’s dashboards may be used to sync accounts for a comprehensive view of your finances. The company’s basic app is free, with the option to add investment management services for 0.89 percent of your account’s balance if it is less than $1 million.
You cannot manually add budgeting transactions to Personal Capital, but you may manually add investments without synchronizing those accounts. Using Personal Capital’s budgeting tools, you may track your monthly income and spending. You can build a budget, compare it to past months, and view your spending by category, but you cannot make particular goals.
Although the company’s budgeting options are not as extensive as those of competitors, Personal Capital offers superior investment tools. The dashboard allows you to track changes in your net worth over time, and the Fee Analyzer provides a deeper look at your portfolio expenses. You may also prepare for the future using the Retirement Planner and Education Planner tools provided by the company. Daily Capital, the blog of Personal Capital, provides a variety of financial planning issues for novice and advanced users alike.
Personal Capital safeguards your data using encryption, fraud prevention, and rigorous authentication. No one has access to your unique login credentials, and the firm’s cooperation with Yodlee, a company, seasoned in financial technology, provides an additional degree of protection.
BEST FOR Couples
Zeta
- Cost: Free
- Bank Sync: Yes
- No Free Trial:
Why We Picked It
Zeta is one of the few free budgeting tools developed particularly for couples, regardless of whether they have shared finances. The app is designed for all sorts of couples, including cohabiting, engaged, married, and newlyweds. You may sync several accounts to monitor spending, view your net worth, and coordinate bill payments.
You may also sign up for a joint account with no account fees and cards with capabilities such as digital checks, access to the Allpoint ATM network, contactless payments, and bill pay. All of these increased characteristics make Zeta our top pick for couples.
Pros & Cons
Pros
- No-fee joint bank account and free budgeting app
- Created for all types of couples
- No account fees, contactless payments, and online bill pay
Cons
- Poor yield on joint accounts
Overview
The free budgeting app Zeta makes our list since it appeals to all sorts of couples. The solution includes a free shared bank account for managing spending and bill payments. The Money Manager app and Joint Cards from Zeta are free.
The Zeta Money Manager app enables you to synchronize accounts or manually input data for a shared financial overview. The app can build budgets, track spending, establish shared goals, and handle bills. Notable features include sharing controls, shared and individual budgets, and bill reminders. Zeta assists you in maintaining focus on your goals and connecting your financial activities to achieving them. The articles in Zeta’s Money Date Mag, a contemporary online newspaper about love and money, will increase your financial literacy.
The Zeta Joint Cards offer FDIC-insured bank account access through LendingClub Bank, no monthly fees or minimums, and 0.10 percent APY1. The account comes with unique features such as limitless transfers, contactless payments, and bill pay. To protect your data, the company employs cutting-edge bank-level security. The company does not save your financial login data and uses two-factor authentication and encrypted databases.
Final Verdict
YNAB is a top pick among budgeting applications because of its precise budgeting technique, outstanding support, and useful features. However, if you’re searching for a free alternative, Mint is an excellent choice. Here is an analysis of the most crucial aspects of the best budgeting applications.
