With so many advancements in technology, budgeting has become a lot easier. For people who have issues with getting their personal finances under control, having budgeting apps is the best bet. Nowadays, there are so many budgeting apps to choose from. In fact, newer budgeting and money management apps pop up almost every week. In this article, we are listing out the best budgeting apps currently leading the charts in 2019.
Most popular Budgeting App: Mint
An oldie but goldie app. This budgeting app is owned by Intuit, the company that makes Turbo Tax and Quickbooks. Mint offers a range of features designed in helping you manage and track your money from different financial institutions. Some of which include credit card issuers, banks, lenders, brokerages amongst others.
With its endless list of features, one of the most useful and popular is its budgeting tools. The budget tools lie front and center when you log in. The Mint app automatically places transactions from linked credit and debit cards in a specific category. Then it tracks them against a budget that can be customized and tweaked to your needs. You will also get alerts when you go over your budget. You can as well track by category or get a full picture of where your cash goes to every month.
Budgeting Apps best to protect overspending: PocketGuard
Just its name, PocketGuard helps protect you from overspending. PocketGuard links all of your financial accounts and helps you track your spending. This way you can compare for each month.
With this app as well, you can easily set up and connect to your bank accounts. Then, it will help you track how much you’re earning. This is inclusive of all you spend per day, your bills and will help deposit into your savings account as well. PocketGuard also has a feature to help you track individual bills and looks for opportunities to help you save. This app is an all-rounder to helping you save a lot of money.
You Need a Budget (YNAB) great for Type-A Personalities
This app has a large amount of following. In fact, the following is so strong that die-hard fans refer to the app as YNAB. This app takes a unique approach to budgeting. Rather than focusing on a traditional way of budgeting, the app takes it a step further. You build your budget based on your income, giving every naira a job in your budget.
The jobs are endless. Some of which include bills, house expenses, debt payments, investments, and savings. YNAB allows you to account for every money you spend. This app is perfect for couples or individuals that are working together on their budget. In addition, it offers mobile and desktop interfaces. As well, there are options to sync your bank accounts automatically or enter expenses manually. It will as well help you pay your debts. With its goal tracking features, it can help motivate you to reach your money goals.
For Just Simple Budgeting: Wally
Compared to others on this list, Wally is not one of the easiest budgeting apps to navigate. It works well, however for budgeting. Wally helps you track your expenses, income and also offers you a snapshot of your remaining budget. This way, you can easily avoid overspending.
It’s free to use app that is more popular with millennials. As well, it’s available on both iPhone and Android( Wally + on Android). One of the major advantages is that it supports almost all foreign currencies. This automatically makes it a better option for people living outside places like the United States and the rest.
Perfect for Cash Style Budgeting: Mvelopes
Cash budgeting does well when you subscribe to envelop budgeting. This is where you put your money in different envelopes for different categories. When each envelope is empty, then your budget for that category is spent for that month. However, this envelope is only for cash as it is a bit challenging with debit and credit cards. However, Mvelopes makes it very easy to follow cash style budgets in a digital budgeting world.
Although this app is not free, it offers the ability to reach unlimited financial accounts and apply the classic envelope budgeting to use to track your regular spending. Using real-time budget matching, you can decide whether to buy something out of impulse or wait for your budget to reset next month.
Best Budgeting Apps for Couples: Goodbudget
Goodbudget was formerly known as Easy Envelope Budget Aid. It’s a perfect app for couples who want to share their budgeting process together. It uses the popular envelope philosophy to help sort out your bills and spending. Another advantage is that you can share and sync budgets with budgeting partners across iPhone and Android platforms. It is a perfect bet for couples with shared finances. However, it still works well for solo budgeters also.
After adding a new transaction, you have the option of adding a new slew of details. You can also break up the expenses into multiple envelopes.
Budgeting Apps Tied to a Bank Account: Simple
This app is more than a budgeting app. It really is an entire bank account that replaces your old checking account and has a lot of useful built-in budgeting features. It is much easier to manage and keep your finances under control when you have your budgeting and bank live in the same app.
Simple helps to track your spending and income automatically. It also has a gaol feature to motivate your savings. Additionally, it has a trademarked ”safe-to-spend” feature that shows whether you’re on track with your budgeting or not. It is also not a paid app and its a very cool all-in-one banking and budgeting app.
Perfect budgeting apps for Investors: Personal Capital
Personal Capital offers a complete investment advising solution. Additionally, it offers a hybrid Robo-advisor and human advisor service in one. Without paying anything, you can access the app’s free money tracking dashboard which also includes some handy budgeting features.