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Budgeting can be a tedious task. Even with the best spreadsheet tips, managing it solo can be overwhelming and time-consuming. However, there's a silver lining: Your smartphone is right there, ready to simplify your life and take the burden off your shoulders!
In all seriousness, there’s an abundance of excellent money management apps designed to handle budgeting for you. Instead of manually crunching numbers in a spreadsheet, you can effortlessly link your bank accounts to a mobile app and let it handle the calculations.
With countless options available, selecting the ideal budgeting app depends on identifying your financial goals. Below, we’ve curated a list of the highest-rated budgeting apps to help you find the perfect match for your personal money management style. Each of our recommendations includes a free basic version, with optional premium features for those who want more.
The top budgeting app for those who tend to overspend
If your main objective is to gain control over your spending habits, then PocketGuard is the ideal choice for you. This app features a user-friendly interface designed to simplify expense tracking. PocketGuard organizes your expenditures into categories and determines how much money remains after covering your bills, effectively creating an automatic budget for you. Additionally, you can establish savings goals that integrate seamlessly with your spending tracking.
Download the app and register here.
The best budgeting app for crafting a comprehensive budget
For budgeters who require a detailed plan for every dollar spent, YNAB (You Need A Budget) is the go-to solution. YNAB operates on the principle of zero-based budgeting, which involves resetting your budget with each pay period (starting from “zero”). This approach, as YNAB explains, ensures that every dollar is assigned a purpose before you spend it.
Like all the apps featured here, YNAB allows you to connect your bank accounts, set up a budget, sync data in real-time, monitor goals, and generate reports to track your financial progress.
Download the app and register here.
The best budgeting app for investors
Previously known as Personal Capital, Empower is a budgeting app that also offers investment management features. You can link multiple financial accounts to manage your budget, track your net worth, and keep an eye on your investment portfolio. While the app is free to use, premium services such as customized investment advice are available for an additional fee.
Download the app and sign up here.
The best budgeting app for couples managing their finances together
Budgeting solo might seem simple, but it becomes more complex when you add a partner to the equation. Honeydue is specifically designed for couples to handle their finances collaboratively. Even if you maintain separate accounts, the app provides a unified view of your combined financial situation. Partners can link bank accounts, credit cards, loans, and investments, while retaining control over how much information they share with each other.
Honeydue is tailored for families, offering features such as bill reminders, customizable spending limits, and the ability to send messages to your partner, complete with emojis.
Download the app and register here.
The best overall budgeting app
Without a doubt, it’s Mint. This app reigns supreme in the world of budgeting tools. As a free service, Mint offers unparalleled customization and an incredibly user-friendly interface.
After linking your bank accounts, Mint automatically monitors and categorizes your spending, generating a suggested budget. You can tweak the categories or adjust the budget as needed. Additionally, Mint provides free credit score access, investment tracking, budget notifications, and a wealth of financial advice to help you manage your money effectively.
