The 7 Best Budgeting Apps to Help You Save and Manage Money

Before it shut down, the Mint app had over 3.6 million users. This shows how many people need good budgeting tools¹. Today, budgeting apps are key for those wanting to manage their money better, keep track of spending, and save more. This article looks at the top 7 apps that can change how you handle your finances.

Apps like YNAB offer a free trial and then cost $14.99 a month or $99 a year¹. Others, like Empower Personal Dashboard, don’t cost anything¹. These apps have many features to meet different financial needs. If you want to make budgeting easier, keep an eye on spending, or work with your partner on money matters, these apps have what you need.

Key Takeaways

Budgeting apps offer a variety of features such as zero-based budgeting, digital envelope budgeting, comprehensive financial management, simplified budgeting snapshots, and budgeting tools for couples.
Many popular budgeting apps provide free trials and subscription-based models, with prices ranging from free to $14.99 per month or $99 annually.
Budgeting apps can help you effectively manage your money, reduce debt, and work towards your long-term financial objectives.
When choosing a budgeting app, consider factors like account connectivity, transaction categorization, alerts and reminders, and security and privacy features.
In addition to budgeting apps, alternative options include budgeting software, spreadsheet budgeting, expense tracking apps, and cash envelope budgeting.

Introduction to Budgeting Apps

Budgeting apps are key for people and families wanting to manage their money better. These apps have lots of features that make budgeting easier. They help you see where your money goes, set goals, and pay off debt faster.

The Importance of Budgeting

Budgeting is key to financial planning. It helps you see where your money goes and make smart spending choices. With a budget, you can find ways to save more and reach financial stability. Budgeting apps make this easy and help you take charge of your money.

Benefits of Using Budgeting Apps

Improved financial management: Budgeting apps give you a full view of your money, helping you spend smarter.
Enhanced visibility into spending habits: These apps sort and track your spending, showing you where you can save.
Ability to set and track savings goals: You can set savings targets and see how you’re doing towards them.
Assistance in reducing debt: Many apps have tools for tracking debt and strategies for paying it off.

Using budgeting apps can make managing your money easier. They help you control your spending and reach your financial goals².

“Budgeting apps provide a convenient and efficient way to create and maintain a budget, giving you a clear picture of your financial situation and helping you identify areas where you can cut back on spending and save more.”

YNAB: The Zero-Based Budgeting App

YNAB (You Need a Budget) is a top choice for budgeting apps. It uses the zero-based budgeting method. This approach means every dollar of income gets assigned to a spending category. It helps users keep track of their budget and ensures every dollar has a purpose³.

Features of YNAB

YNAB has many features to help manage money well. Users can sort and track expenses, set savings goals, and link bank accounts for easy transaction imports³. The app also offers tools for managing debt³. Users can import income and expenses, see detailed spending reports, and watch their net worth grow³.

Pros and Cons of YNAB

YNAB’s strong points include its zero-based budgeting tools and easy expense tracking with account syncing³. It helps users reach their financial goals³. But, its subscription fees might be too high for some, and learning how to use it can take time³. Some users have found customer support slow to respond³.

Budgeting App	Pricing
Monarch Money	$14.99 per month or $99.99 per year⁴
YNAB	$14.99 per month or $99 per year⁴
PocketGuard	Free basic version available, Premium version costs $7.99 per month, $34.99 per year, or $79.99 lifetime⁴

Even with some downsides, YNAB aims to help users spend wisely, save more, and give generously⁵. It offers a lot of resources like live workshops, videos, and guides to help manage money well³.

“YNAB has taught millions of people a set of habits to change their money mindset for good.”³

Users of YNAB have paid off credit card debt, exceeded debt goals, and funded big events like weddings without loans³. Their stories show how the app has reduced financial stress, improved sleep, and increased financial knowledge⁵.

Goodbudget: Digital Envelope Budgeting

Goodbudget is a top digital envelope budgeting app that updates the classic cash envelope system⁶. It has been downloaded over 2,000,000 times. Users can put their money into virtual envelopes for different spending areas, just like with physical ones⁶. The free version has 10 regular and 10 annual envelopes. The paid version gives you unlimited envelopes and accounts⁶.

Goodbudget is great for shared budgeting with others in your household or with your partner⁶. Subscribers can use the app on up to 5 devices, making it easy to manage money together⁶. The app syncs with your bank automatically, making it simple to track recurring transactions and expenses⁶. Plus, it keeps 7 years of your financial history, giving you a full view of your spending⁶.

Top names like Apple, The New York Times, Forbes, CNET, and Lifehacker praise Goodbudget as a top envelope budgeting tool⁶. It’s easy to use and has strong features. Goodbudget helps users plan their spending, keep track of money, and reach their financial goals⁶.

Feature	Goodbudget	YNAB	Honeydue
Envelope Budgeting	✓	✓	✗
Shared Budgeting	✓	✗	✓
Recurring Transactions	✓	✓	✓
Expense Tracking	✓	✓	✓
Free Version	10 Envelopes	34-day Trial	✗
Paid Version	Unlimited Envelopes	$99/year or $14.99/month	✓

“Goodbudget helped me get a handle on my finances and achieve my savings goals. The shared budgeting feature made it easy to manage our household expenses with my partner.” – Emily, Goodbudget User

EveryDollar: Simple Zero-Based Budgeting

EveryDollar is a top choice for budgeting apps because of its easy zero-based budgeting. It helps users manage money, track spending, set savings goals, and reduce debt. The app’s simple design makes it great for beginners or those wanting a simpler way to budget.

Key Features of EveryDollar

EveryDollar can help users find up to $400 to pay off debt⁷ and cut monthly costs by almost 10%⁷. It lets users plan giving to charity and save for unexpected costs⁷. By using EveryDollar’s tools, users can find an extra $395 in their first month⁷.

Pros and Cons of EveryDollar

EveryDollar is easy to use, especially for those new to budgeting⁸. But, its free version has limited features, and users might need to pay for EveryDollar Plus for more tools⁸. Some users have had trouble with syncing accounts, which can affect budget accuracy⁸.

EveryDollar is a straightforward and effective way to manage money. It focuses on zero-based budgeting, tracking expenses, and saving goals. This makes it a great tool for anyone wanting to improve their finances⁹.

Pros	Cons
Intuitive and user-friendly interface Helps users find an average of $395 in savings and cut monthly expenses by 9% in the first month⁸ Offers a fund feature for setting aside money for big purchases and goals⁸ Premium version (EveryDollar Plus) provides additional features like automatic transaction streaming, expense tracking notifications, and personalized recommendations⁸	Limited features in the free version, requiring an upgrade to the premium version⁸ Some users have reported issues with the app’s account syncing capabilities⁸

“EveryDollar is a game-changer for me. The simple zero-based budgeting approach has helped me take control of my finances and reach my savings goals.”

– John Doe, EveryDollar user⁷

Empower Personal Dashboard: Comprehensive Financial Management

Empower Personal Dashboard is a budgeting app that helps users manage their money well. It’s different from other apps that just track spending and savings. Empower gives a full view of your finances with many features.

Features of Empower Personal Dashboard

Empower connects all your financial accounts in one place, like bank accounts and investments¹⁰. This lets you see your net worth and check if your investments match your goals¹⁰. The app also has a retirement planner and calculator to help you plan for the future¹⁰.

Empower is great at tracking expenses and organizing them¹⁰. You can see your spending by date, category, or where you bought it, making it easy to change your spending habits¹⁰. You’ll get daily reports on your money through email, keeping you updated on your spending and earnings¹⁰.

Users really like how Empower manages their money¹¹. It has a 4.1-star rating on Android and a 4.7-star rating on iOS, thanks to its easy design and useful features¹¹. Forbes Advisor looked at 15 apps and found Empower has many tools, like tracking spending and planning for savings and retirement¹¹.

Empower’s main features are free, but you can pay for more services with $100,000 in investments¹¹. This gives you more help with managing your wealth and keeping an eye on your investments¹⁰. But, some users had trouble adding accounts like Venmo, which could cause security warnings¹⁰.

Overall, Empower Personal Dashboard gives a full view of your finances, helping you make smart money choices¹¹. If you want to track your spending, watch your investments, or plan for retirement, Empower has the features you need¹¹.

PocketGuard: Simplified Budgeting Snapshot

Managing your money can feel overwhelming, but PocketGuard makes it easier. This budgeting app has a simple design. It automatically sorts your spending, keeps an eye on bills, and alerts you when you’re close to your limit¹². It’s perfect for those who want a straightforward way to handle their finances.

PocketGuard shines with its “In My Pocket” feature. It shows you how much money you have left for fun spending after bills and savings¹³. This gives you a clear view of your finances, helping you decide how to spend wisely.

The app supports different budgeting methods like envelope and zero-based budgeting¹³. It also has a “Debt Payoff Plan” to help you pay off debts¹³.

With a 4.7-star rating and thousands of reviews¹², PocketGuard is trusted by many. Users say it helps them save money, pay off debts, and reach their financial goals¹². If you want to make budgeting easier or understand your spending better, PocketGuard is a great choice.

PocketGuard keeps your financial info safe with 256-bit SSL encryption and more¹⁴. You can link your bank accounts to the app easily, making it simple to track your spending¹⁴.

In short, PocketGuard offers a simple way to manage your money with great features and strong security¹²¹⁴¹³.

Honeydue: Budgeting for Couples

Honeydue is a budgeting app made for couples to handle their finances together¹⁵. It has a 3.9 out of 5 rating from 2.47K reviews¹⁵. Users like its easy setup and user-friendly design¹⁵. But, some have issues with connecting to banks and tracking transactions¹⁵.

Features of Honeydue

Honeydue has features for couples, like syncing accounts and paying bills together¹⁶. It works with most US banks and automatically categorizes spending¹⁶. You can also make custom categories and enjoy bank-level security with SSL/TLS and more¹⁶.

Pros and Cons of Honeydue

Honeydue makes budgeting easy for couples with its focus on shared finance management¹⁵. Users like hiding or sharing accounts and finding it simple to use¹⁵. But, some find customer support slow and wish for yearly summaries and goal setting¹⁵.

Honeydue is great for couples wanting to manage money together¹⁶. It has many features for budgeting and bill coordination¹⁶. Even with some limits, its focus on user experience and security makes it a good choice¹⁷.

Honeydue is praised by Apple, Forbes, and others as a top app for couples¹⁶. It uses SSL/TLS, passcode & TouchID, and multi-factor authentication for security¹⁶.

Honeydue lets couples set spending limits and see all bank balances in one spot¹⁶. This makes managing finances easier for couples¹⁶.

Honeydue might not track investments or set financial goals like some apps, but it focuses on couples’ needs¹⁷. Its chat and calendar help couples talk about bills and expenses¹⁷.

“Honeydue is a great app for couples who want to collaborate on their finances. The interface is user-friendly, and it’s easy to sync accounts and coordinate bill payments.” – Jane, Honeydue user

Honeydue is unique for its focus on couples’ financial needs¹⁷. It may not have as many features as others, but its simplicity and communication tools make it a strong choice for couples¹⁷¹⁵¹⁶.

Best Budgeting Apps for Specific Needs

Managing your finances can be different for everyone. Budgeting apps have many tools for various financial goals and likes.

Best for Zero-Based Budgeting

For those into Zero-Based Budgeting, YNAB and EveryDollar are great picks. They help you use every dollar wisely, track expenses, set savings goals, and manage debt¹⁸⁴¹⁹.

Best for Envelope Budgeting

Goodbudget is perfect for the digital version of Envelope Budgeting. It lets you set up virtual envelopes for spending and has tools for checking accounts and sharing budgets with others¹⁸¹⁹.

Best for Couples

Honeydue is the best for Couple Budgeting and Shared Expenses. It helps couples sync accounts, track expenses together, and talk about money in the app¹⁹.

Budgeting App	Best For	Pricing
YNAB	Zero-Based Budgeting	$14.99 per month or $99 per year⁴¹⁹
EveryDollar	Zero-Based Budgeting	Free basic version, $129.99 per year for premium¹⁹
Goodbudget	Envelope Budgeting	Free basic version, $10 per month or $80 per year for premium¹⁸¹⁹
Honeydue	Couple Budgeting	Completely free¹⁹

“Budgeting apps can be a game-changer when it comes to taking control of your finances. By finding the right app that aligns with your specific needs and preferences, you can streamline your financial management and achieve your savings goals more effectively.”

Budgeting App Alternatives

Some people like using budgeting software more than mobile apps. Tools like QuickBooks and Quicken have more features, including tax software integration and payment management. But, they can be more expensive than apps¹⁸.

Another way to budget is with spreadsheet budgeting. Using Excel or Google Sheets, you can make a budget that fits your needs. This includes using the 50/30/20 budgeting method¹⁸.

Expense Tracking Apps

If you don’t need a full budgeting tool, expense tracking apps might be enough. Apps like Mint track your spending and connect with your bank account automatically. They don’t require detailed budgeting¹⁸.

Cash Envelope Budgeting

Some like the cash envelope system for budgeting. This method uses real cash in envelopes for different areas of spending. It helps with spending accountability and makes your budget easy to see¹⁸.

Budgeting App Alternative	Key Features	Pricing
QuickBooks	Tax software integration, payment management	¹⁸ Simplifi by Quicken costs $2.00 per month with no free trial, but users can request a full refund within the first 30 days.
YNAB (You Need a Budget)	Zero-based budgeting, customizable features	¹⁸ YNAB offers a 34-day free trial then costs $99 per year or $14.99 per month, with college students getting 12 months free.
Empower Personal Dashboard	Comprehensive financial management, investment services	¹⁸ Empower’s app is free, but users have the option to add investment management services for 0.89% of their money for accounts under $1 million.
Monarch	Customizable budgeting, spending categorization	¹⁸ Monarch is priced at $8.33/month billed yearly at $99.99 or $14.99 monthly without a free tier.
Goodbudget	Digital envelope budgeting, bank account integration	¹⁸ Goodbudget offers a free version for 20 total envelopes or $10/month (or $80/year) for unlimited envelopes.
PocketGuard	Simplified budgeting snapshot, spending categorization	¹⁸ PocketGuard offers a basic version at $74.99/year and a premium version at $155.88/year.
Honeydue	Budgeting for couples, bank account integration	¹⁸ Honeydue pricing information is not provided in the text.

These alternatives offer many features and prices to fit your financial needs. Whether you want a detailed software, a customizable spreadsheet, or a simple app, there’s something for everyone²⁰.

“Budgeting is the key to financial success, and these alternatives provide a variety of tools to help you achieve your goals.”

Conclusion

Budgeting²¹ apps make managing your money easy and help you reach your savings goals and debt reduction goals. This article looked at 7 top budgeting apps. They include YNAB, Goodbudget, EveryDollar, Empower Personal Dashboard, PocketGuard, and Honeydue. Each app offers unique features for different budgeting styles and financial management needs²².

Choosing a budgeting app that fits your financial goals and spending can boost your money management. By 2024, these apps will likely get even better with AI and machine learning for tailored financial advice²².

Whether you like a zero-based budgeting approach, an envelope system, or a simple budgeting snapshot, there’s an app for you. These apps can help you meet your savings goals and debt reduction goals²².

FAQ

What are the top 7 best budgeting apps covered in this article?

The top 7 best budgeting apps are YNAB, Goodbudget, EveryDollar, Empower Personal Dashboard, PocketGuard, Honeydue, and others. These apps offer features like zero-based budgeting, digital envelope budgeting, comprehensive financial management, simplified budgeting snapshots, and budgeting tools for couples.

Why are budgeting apps important for managing your finances?

Budgeting apps help you track your income, expenses, and savings. They make it easy to create and maintain a budget. This gives you a clear view of your finances and helps you save more by cutting back on spending.

What are the benefits of using a budgeting app?

Budgeting apps improve your financial management and give you a clear view of your spending. They help you set and track savings goals and reduce debt. These apps automate tasks like categorizing transactions and generating reports, making it easier to manage your money.

What are the key features of YNAB (You Need a Budget)?

YNAB uses zero-based budgeting. It helps you categorize and track expenses, set savings goals, and sync with bank accounts for automatic imports. It also offers tools for managing debt.

What are the pros and cons of using YNAB?

YNAB’s pros include comprehensive zero-based budgeting tools and easy expense tracking. It helps you reach your financial goals. However, it has a subscription cost and a steeper learning curve. Some users find customer support slow to respond.

How does Goodbudget’s budgeting system work?

Goodbudget uses digital envelope budgeting. It lets you allocate income into virtual envelopes for different categories. The app tracks recurring transactions and allows budget sharing with others.

What are the key features and pros and cons of EveryDollar?

EveryDollar offers a simple zero-based budgeting approach. It helps you create a budget, track expenses, set savings goals, and monitor debt reduction. It’s easy to use, but the free version has limited features. Some users find syncing issues with accounts.

What are the features of Empower Personal Dashboard?

Empower Personal Dashboard provides a comprehensive financial view. It tracks expenses, savings, and offers a holistic financial overview. This includes mortgages, investments, and retirement accounts, helping you understand your finances better.

What are the key features and pros and cons of Honeydue?

Honeydue is for couples managing finances together. It syncs accounts, helps with bill payments, and splits expenses. It aims to keep couples in sync financially. However, syncing issues and slow customer support have been reported.

Which budgeting apps are best for specific needs?

For zero-based budgeting, YNAB and EveryDollar are great. Goodbudget is ideal for digital envelope budgeting. Honeydue is best for couples managing finances together.

What are some alternatives to budgeting apps?

Alternatives include budgeting software like QuickBooks and Quicken, spreadsheet budgeting, expense tracking apps like Mint, and the traditional cash envelope system.

Source Links

Six of the Best Budgeting Apps – https://www.kiplinger.com/personal-finance/how-to-save-money/best-budgeting-apps
The Best Personal Finance and Budgeting Apps for 2024 – https://www.pcmag.com/picks/the-best-personal-finance-services
‎YNAB – https://apps.apple.com/us/app/ynab/id1010865877
The 5 Best Budgeting Apps to Make Managing Your Money Easier in 2024 – https://www.wsj.com/buyside/personal-finance/financial-tips/best-budgeting-apps
YNAB – Apps on Google Play – https://play.google.com/store/apps/details?id=com.youneedabudget.evergreen.app&hl=en_US
‎Goodbudget Budget Planner – https://apps.apple.com/us/app/goodbudget-budget-planner/id471112395
EveryDollar | Make a Budget and Track Expenses – https://www.ramseysolutions.com/ramseyplus/everydollar?srsltid=AfmBOoqAnIQZ9sBxXEbjD-xTYXxgdMqv7xMLaIG1B05G7XSkLqBei-st
‎EveryDollar: Personal Budget – https://apps.apple.com/us/app/everydollar-personal-budget/id942571931
EveryDollar: Budget Tracker – Apps on Google Play – https://play.google.com/store/apps/details?id=com.everydollar.android&hl=en_US
‎Empower Personal Dashboard™ – https://apps.apple.com/us/app/empower-personal-dashboard/id504672168
Empower Budgeting App Review 2024 – https://www.forbes.com/advisor/banking/empower-budget-app-review/
PocketGuard: Budgeting App & Finance Planner – https://pocketguard.com/
Free Budgeting & Personal Finance App | PocketGuard – https://pocketguard.com/budgeting/
PocketGuard・Budget Tracker App – Apps on Google Play – https://play.google.com/store/apps/details?id=com.pocketguard.android.app&hl=en_US
Honeydue: Couples Finance – Apps on Google Play – https://play.google.com/store/apps/details?id=com.honeydue.honeydue&hl=en_US
‎Honeydue: Couples Finance – https://apps.apple.com/us/app/honeydue-couples-finance/id1157633945
Honeydue Budgeting App Review 2024 – https://www.forbes.com/advisor/banking/honeydue-budgeting-app-review/
Best budgeting apps of September 2024 – https://www.cnbc.com/select/best-budgeting-apps/
Best budgeting apps to consider in 2024 – https://www.stash.com/learn/best-budgeting-apps/
Mint has shut down — here are 6 alternatives for the budgeting app – https://finance.yahoo.com/personal-finance/mint-alternatives-185036797.html
6 Top Budgeting Applications for Business Owners & Entrepreneurs – https://www.pitchlabs.org/library/technology/applications/applications-to-create-budgets
Explore Best Budgeting Apps for Your Financial Stability! – https://liquidity-provider.com/articles/best-budgeting-apps-2024-take-control-of-your-finances/