Feeling overwhelmed by the prospect of budgeting? You’re not alone. Many find the task daunting, but thankfully, numerous apps can simplify the process. A good budgeting app can significantly reduce the time and effort involved, empowering you to spend smarter and save more. This comprehensive guide, based on an extensive review of over a dozen budgeting apps, highlights the top contenders, categorized to cater to various financial needs and preferences. We’ve considered unique features, user ratings, and the availability of free trials or refunds to ensure our recommendations are both effective and accessible.
Key Takeaways: Find Your Perfect Budgeting App
- Discover the best app for your financial style: Whether you’re a meticulous planner, a serious budgeter, an investor, a beginner, or a couple managing finances together, there’s an app for you.
- Explore diverse budgeting methods: From the “zero-based budgeting system” to the classic envelope method, the apps featured here utilize different approaches to meet individual needs.
- Compare features and pricing: We analyze the costs, security features, account linking capabilities, and user experience of each app to assist you in making an informed choice.
- Unlock financial clarity and achieve your goals: Learn how these apps can transform your relationship with money, leading to improved spending habits and enhanced savings.
Best App for Planners: Quicken Simplifi
Who’s this for? Simplifi by Quicken is perfect if budgeting is your planning tool – whether you’re saving for a vacation or tracking your retirement. It allows for completely customizable reports based on spending, income, and savings, giving you a clear picture of your financial health. **Its personalized spending plan adjusts in real-time as you spend**, even allowing for planned spending like special events.
Features and Pricing
- Cost: $3.99 per month. No free trial, but a full refund is available within the first 30 days.
- Links to accounts: Yes, bank, credit card, investment, and loan accounts.
- Categorizes expenses: Yes, with user modification options.
- Standout features: Customizable reports, real-time adjusting spending plan, refund tracker, credit monitoring.
- Pros: Syncs with multiple accounts, customizable reports, robust investment dashboard.
- Cons: No free tier, no bill pay feature, Quicken data cannot be imported.
Best App for Serious Budgeters: You Need a Budget (YNAB)
Who’s this for? If you’re a dedicated budgeter, You Need a Budget (YNAB) is a powerful choice. It’s built around a zero-based budgeting system, where every dollar is assigned a specific purpose— from paying bills to investing. No dollar is unaccounted for, ensuring complete control over your finances.
Features and Pricing
- Cost: 34-day free trial, then $109 per year ($9.08 per month) or $14.99 per month. College students get 12 months free with proof of enrollment.
- Links to accounts: Yes, bank and credit cards.
- Categorizes expenses: Users manually categorize transactions.
- Standout features: Zero-based budgeting, debt reduction focus, goal setting, educational resources, customer support.
- Pros: Comprehensive, proven effective, goal-oriented, supportive community
- Cons:Higher cost than other options, can be time-consuming to set up initially.
Best App for Investors: Empower
Who’s this for? Empower is a unique blend of budgeting and investment tracking. It’s ideal if you want a holistic view of your finances, with a focus on wealth management alongside expense control. It effectively tracks your spending and wealth simultaneously, giving you a comprehensive overview of your financial well-being.
Features and Pricing
- Cost: Free, with optional investment management services (0.89% of assets under $1 million).
- Links to accounts: Yes, bank and credit cards, IRAs, 401(k)s, mortgages, and loans.
- Categorizes expenses: Yes, with user customization
- Standout features: Combined budgeting and investment tracking, retirement planner, investment checkup tool.
- Pros: Free to use, comprehensive financial dashboard, investment tools.
- Cons: Less comprehensive budgeting features compared to other apps, investment management adds cost.
Best for Ease of Use: Monarch
Who’s this for? If you prioritize simplicity and ease of navigation, Monarch stands out. Its intuitive design and clear presentation make it easy for first-time users to understand and manage their finances effectively. The customizable dashboard prioritizes the information most relevant to you, ensuring a focused and user-friendly approach.
Features and Pricing
- Cost: $8.33/month (billed annually at $99.99) or $14.99/month (billed monthly).
- Links to accounts: Yes, bank and credit cards, IRAs, 401(k)s, mortgages, and loans;
- Categorizes expenses: Yes, with user customization.
- Standout features: Net worth tracker, investment portfolio tracking, goal setting, collaboration features.
- Pros: Easy-to-use interface, customizable dashboard, goal-focused approach.
- Cons: Not free, some generic advice.
Best App for Beginner Budgeters: Goodbudget
Who’s this for? For those starting their budgeting journey, Goodbudget offers a gentle introduction using a digital version of the envelope budgeting method. This tried-and-true method visually organizes spending into categories, making it easier to track and manage funds.
Features and Pricing
- Cost: Free for 20 envelopes; $10/month (or $80/year) for unlimited envelopes.
- Links to accounts: No; manual input required.
- Categorizes expenses: Yes, but manual input is necessary.
- Standout features: Digital envelope system, debt tracking, couple-friendly features, budgeting resources.
- Pros: Free basic version, simple interface, easily shareable with a partner.
- Cons: Requires manual data entry, limited features in free version.
Best App for Over-Spenders: PocketGuard
Who’s this for? If you tend to overspend and need an accountability tool, PocketGuard provides real-time alerts to keep you on track. Its “In My Pocket” feature calculates your available spending money, considering your income, upcoming expenses, and savings goals, preventing overspending.
Features and Pricing
- Cost: Free version available; PocketGuard Plus: $12.99/month or $74.99/year.
- Links to accounts: Yes, bank and credit cards.
- Categorizes expenses: Yes, with user modification.
- Standout features: “In My Pocket” feature, spending alerts, bill payment tracking, bill negotiation.
- Pros: Real-time spending control, helpful alerts, bill negotiation feature.
- Cons: Paid features are costly, occasional inaccurate categorization of transactions reported by users.
Best App for Couples: Honeydue
Who’s this for? Honeydue is designed for couples who want to manage their finances collaboratively. It lets partners view each other’s accounts (with selective sharing options) and manage expenses, bills, and savings goals jointly. The integrated chat feature adds convenience to communication about shared financial matters.
Features and Pricing
- Cost: Free.
- Links to accounts: Yes, both partners’ bank and credit cards.
- Categorizes expenses: Yes, with user customization.
- Standout features: Shared account viewing, bill coordination, joint budgeting, in-app chat.
- Pros: Free, convenient joint management, bill reminders, in-app communication.
- Cons: Occasional bugs and delayed transaction updates reported by some users.
Why Trust CNBC Select?
At CNBC Select, we’re committed to providing you with high-quality, unbiased information. Our reviews are based on thorough research and analysis, ensuring our recommendations are both helpful and reliable. While we may earn commissions from affiliate partners, our editorial process is independent, adhering to the highest journalistic standards.
