If you’re one of the millions of people who track their spending, these budgeting apps will be indispensable.
The user experience is the most important factor in the success of an app. That’s why it is extremely important to have a budgeting app that is designed with ease of use and a simple interface in mind.
To help you out, we have compiled a list of the best budgeting apps on Reddit.
While apps like Mint, You Need A Budget and Level Money have been extremely helpful in managing your finances, they can be difficult to use. These apps are packed with features that can make budgeting easy, but if you’re just starting out managing your money, it might be a bit overwhelming.
Table of Contents
best app budgeting
USA
Advisor Banking Best Budgeting Apps
Advertiser Disclosure
Best Budgeting Apps Of May 2022
Daphne Foreman
Daphne Foreman
Editor
Doug Whiteman
Reviewed By
Doug Whiteman
EditorUpdated: May 2, 2022, 1:40pm
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.
Making—and sticking to—a monthly budget can be critical to your financial success. Especially when you’re just starting out, knowing how much money enters and exits your household on a regular basis is a habit you want to develop.
As with making any habit stick, it can help to have the right support. The best budget tool for you is the one you’ll actually use, whether that’s a full-featured app, a tricked-out spreadsheet or more manual means. To help in your search for the right budgeting app, Forbes Advisor has ranked eight of the best budgeting apps available.
Show Summary
Best Ofs
Best Online Banks
Best Checking Accounts
Best Online Savings Accounts
Best CD Rates
Best Money Market Accounts
Best Student Checking Accounts
Best Bank Bonuses
Best Budgeting Apps
We’ve compared 15 budgeting apps to find some of the best mobile apps available for managing budgets, savings and expenses. For the purposes of this list, Forbes Advisor focused on apps that are available to U.S. consumers. The eight apps shown on this list offer a variety of useful features and tools that can meet varied personal finance and money management needs.
App details are accurate as of April 29, 2022.
BEST FOR INVESTORS
Personal Capital
4.5
Forbes Advisor
Cost
Free
Time Period for Free Version
Unlimited
Number of Ratings
52,710+
Personal Capital
Learn More
On Personalcapital.com’s Secure Website
Why We Picked It
Pros & Cons
BEST FOR MONITORING DAILY ACTIVITY
Mint
4.4
Forbes Advisor
Cost
Free
Time Period for Free Version
Unlimited
Number of Ratings
936,900+
Mint
Learn More
Read Our Full Review
Why We Picked It
Pros & Cons
BEST FOR ACHIEVING FINANCIAL GOALS
YNAB (You Need A Budget)
4.2
Forbes Advisor
Cost
After free trial, $14.99/month or $98.99/year
Time Period for Free Version
34 days
Number of Ratings
48,300+
YNAB (You Need A Budget)
Learn More
Read Our Full Review
Why We Picked It
Pros & Cons
BEST FOR TRACKING SPENDING
PocketGuard
4.1
Forbes Advisor
Cost
Free version; Plus is $7.99/month, $79.99/year or $99.99/lifetime
Time Period for Free Version
Unlimited
Number of Ratings
8,250+
PocketGuard
Learn More
Read Our Full Review
Why We Picked It
Pros & Cons
BEST FOR BUDGETING USING ENVELOPES
Goodbudget
4.1
Forbes Advisor
Cost
Free version; Plus is $8/month or $70/year
Time Period for Free Version
Unlimited
Number of Ratings
31,785+
Goodbudget
Learn More
Read Our Full Review
Why We Picked It
Pros & Cons
BEST FOR GETTING STARTED WITH INVESTING
Stash
3.8
Forbes Advisor
Cost
$1, $3 or $9/month
Time Period for Free Version
N/A
Number of Ratings
371,680+
Stash
Learn More
Read Our Full Review
Why We Picked It
Pros & Cons
BEST FOR COUPLES
Honeydue
3.7
Forbes Advisor
Cost
Free
Time Period for Free Version
Unlimited
Number of Ratings
9,260+
Honeydue
Learn More
Read Our Full Review
Why We Picked It
Pros & Cons
BEST FOR PASSIVE SAVING AND INVESTING
Digit
3.6
Forbes Advisor
Cost
After free trial, $5 per month
Time Period for Free Version
30 days
Number of Ratings
308,205+
Digit
Learn More
Read Our Full Review
Why We Picked It
Pros & Cons
What Is a Budgeting App?
A budgeting app is an app designed to help you optimize the spending and savings choices you make each month. By putting all your financial commitments and goals in one place, a budgeting app can give you better visibility into your financial choices and habits.
Similar to the apps you may use from your bank or credit union, a budgeting app may provide additional functionality such as financial goal setting and cash flow tracking across multiple financial accounts. Budgeting apps can sync with your bank and credit card accounts to provide a holistic view of your finances.
Some budgeting apps will use a specific budgeting approach—like envelope or zero-based budgeting—while others will address budgeting more generally, allowing for customization based on your needs. A fully featured budgeting app can help you track spending, manage recurring bill payment, set savings goals and manage monthly cash flow.
Do Budgeting Apps Really Work?
Budgeting apps are a great tool to help ensure you’re living your budget, not just planning one. They can provide insights into your spending habits, identifying where your money goes and where you can make improvements.
As with any app, whether or not it “works” depends largely on how you use it. A challenge with budgeting generally—whether managed with an app, a spreadsheet, or more manual means—is committing not only to having a budget but to making your financial decisions in line with it. Many people find that the interactivity and automation provided by a budgeting app helps keep them motivated to stay on top of their personal finances.
How to Choose a Budgeting App
Choosing a budgeting app can seem like a small decision when compared to other personal finance decisions. But the right budgeting app can make a big difference in your personal financial life.
When selecting a budgeting app, be sure to consider what your needs and goals are first. The right budgeting app can provide you helpful insights and data into your expenses and savings. But before that happens, identifying your financial goals can help you refine your search for the right budgeting app for you.
Outside of your goals, here are a few features to consider before you commit to a budgeting app:
Fees. Budgeting apps differ in their costs. Many budgeting apps are free—or offer free versions—while some charge a monthly fee. While it may be tempting to choose a free app, don’t overlook the paid apps. If a budgeting app can significantly improve your financial outlook, it may very well be worth the investment.
Features. Each app has unique features and benefits, so it may make sense to test a few different apps to see which one best fits your needs. If you’ve used a mobile banking app, you have a head start on the features you’ll be seeking. Typical features in the leading budgeting apps include: connecting all your financial accounts, receiving notifications of upcoming bill payments, designing a budget, credit score tracking, tracking spending, setting up financial goals and more.
Security. The security of your personal information is extremely important, especially around banking data and logins. While most budgeting apps have some level of security, some are more sophisticated than others. Be sure to look into the level of security encryption of each app. On their websites, you may find security features such as 256-bit encryption and multi-factor authentication. Along with using a secure Wi-Fi network, features like this will help deter intruders from accessing your information.
Customer service. If you run into an issue when using a budgeting app, having a technical team you can reach out to can be helpful. When selecting a budgeting app, be sure to find out what customer service options are available, both from the app and from the desktop version, if applicable. It also may help to read reviews of others’ experiences with the app you’re considering.
What Makes for a Successful Budget?
Budgeting is a process that begins with identifying your financial goals, along with observing your spending and savings habits. When you truly understand how much money is going out and coming in, you’re better prepared to handle both the expected and unexpected financial challenges life brings.
The mindset you bring to managing your money is important. Establishing a budget is a critical first step to gaining control over your finances. If you’re never worked with a personal budget, it may take a few cycles for your habits to catch up. And, if you have money habits you need to improve on, the right app can help.
Summary of Best Budgeting Apps 2022
Methodology
To create this list, Forbes Advisor analyzed 15 budgeting apps. We ranked each budgeting app on 18 data points within the categories of consumer ratings, costs associated with the app, security and encryption of consumers’ data, desktop availability and the ability to share the app with someone else.
The following is the weighting assigned to each category:
Mobile app rating (App Store and Google Play): 35%
Cost: 25%
Encryption/Security: 15%
Account integration capabilities: 10%
Website version available: 10%
Ability to share: 5%
Budgeting apps with a higher overall rating relative to its number of reviews ranked higher on our list, as did those that are completely free. We also prioritized mobile apps with advanced security features, like biometric authentication, multifactor authentication and encryption. Apps that allow the ability to connect an unlimited number of accounts moved toward the top of our list, as did apps that also have a website version and allow for sharing with family or friends.
Frequently Asked Questions (FAQs)
What is the best budgeting app?
What are the best free budgeting apps?
What is the easiest budgeting app?
Next Up in Banking
6 Tips For Living Your Budget, Not Just Planning It
Are Budgeting Apps Worth It?
How To Budget In 7 Simple Steps
Financial Spring Cleaning: 9 Post-Pandemic Tips To Spruce Up Your Budget
How To Get Started With Your First Bank Account
90 Days In: Time For A Budget Review?
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Daphne Foreman
Daphne Foreman
Editor
Daphne Foreman is a former Banking and Personal Finance Analyst for Forbes Advisor. She has worked as a personal finance editor, writer, and content strategist covering banking, credit cards, insurance and investing. As a small business owner and former financial advisor, Daphne has first-hand experience with the challenges individuals face in making smart financial choices.
Was this article helpful?
SHARE YOUR FEEDBACK
© 2022 Forbes Media LLC. All Rights Reserved.
AdChoices Privacy Statement Terms and Conditions About Us Send Us Feedback Jobs At Forbes Reprints & Permissions Newsroom Forbes Quote of the Day Advert
Conclusion
Let us know your thoughts in the comment section below.
Check out other publications to gain access to more digital resources if you are just starting out with Flux Resource.
Also contact us today to optimize your business(s)/Brand(s) for Search Engines