Are you looking for the best budgeting app to manage your money in 2024? With so many options available, each with its features, choosing the right one can be challenging. This guide explores the top budgeting apps of the year, highlighting what makes each unique, how they can help with your finances, and what they cost.
Whether you need help budgeting, tracking expenses, or planning for the future, this overview will help you find the perfect app for your financial goals.
What are Budgeting Apps?
Budgeting apps are tools that help people manage their money by keeping track of income, expenses, and savings. They connect to bank accounts to automatically log spending, allow users to create budgets, and set financial goals.
Users receive reminders for bill payments and alerts to avoid overspending. These apps also provide easy-to-read reports to understand spending patterns and often sync across devices for convenience. With strong security features, budgeting apps help users take control of their finances, cut down on unnecessary spending, and achieve their financial goals.
Top Apps for Budgeting in 2024
Each of these budgeting apps offers unique features and benefits tailored to different purposes and budgets:
Carefully Pick for you:
- Best for Zero-Based Budgeting: AppAlloy and YNAB, offer robust tools for assigning every dollar a job and tracking expenses against set limits.
- Best for Investment Tracking: Pocketguard and GoodBudget integrate budgeting with detailed investment monitoring and retirement planning tools.
- Best for International Users: Wally and Mint stand out with their support for currency conversion and expense tracking across different currencies.
- Best for Couples: Honeydue and Simplifi can connect to financial accounts, and facilitate collaborative budget management for partners, ensuring transparency and joint financial goal tracking.
- Best for Forecasting: PocketSmith excels with its advanced forecasting tools, helping users visualize future financial scenarios based on current spending and saving patterns.
AppAlloy
Highlight: AppAlloy is one of the top apps for budgeting which offers a comprehensive feature to help transform your Excel spreadsheets into smart planning. You can also add more functions that you need to build your budget app without limitations.
Why choose AppAlloy?
✅ Simple and Fast Setup
✅ Free to use
✅ Multiple integrations
How to Use AppAlloy
Begin by connecting your budget spreadsheet to AppAlloy for automatic transaction categorization and real-time expense tracking. Set up budgets for various spending categories such as groceries, entertainment, and savings objectives. AppAlloy’s investment monitoring tools allow users to track portfolio performance and make informed adjustments as needed.
Price: AppAlloy is free to use with basic features included. For advanced budgeting tools and enhanced investment tracking capabilities, AppAlloy Plus is available for $5.99 per month or $59.99 per year.
Overall Rating: ⭐⭐⭐⭐/5
PocketSmith
Highlight: PocketSmith is a budgeting and financial forecasting app designed to help users manage their money more effectively. An ideal for users who want a detailed and flexible financial planning approach, with strong forecasting and scenario planning tools.
Why choose PocketSmith?
✅ Financial Forecasting
✅ Budgeting and Goal Setting
✅ Transaction Categorization
✅ Robust Cash Flow Forecasting Tools
✅ Future Financial Scenarios Based on Current Spending and Saving Patterns
How to Use
Sync financial accounts to PocketSmith for automatic transaction categorization. Create budgets aligned with financial goals like savings or debt reduction. Use forecasting tools to visualize future cash flow and plan accordingly.
Price: PocketSmith offers a free basic version with PocketSmith Premium at $9.95/month or $89.95/year for advanced features.
Overall Rating: ⭐⭐⭐⭐⭐/5
Honeydue
Highlight: Honeydue is ideal for couples seeking an efficient way to manage their finances together. The app offers tools for joint budgeting, allowing partners to set and monitor budgets collaboratively. With expense tracking, couples can categorize and track spending habits effectively.
Why choose Honeydue?
✅ Expense Tracking
✅ Bill Reminders
✅ Joint Budget Management
✅ Facilitates Collaboration on Shared Expenses
✅ Offers Transparency and Coordination in Joint Finances
How to Use
Connect joint accounts with your partner for tracking shared expenses like rent and groceries. Set budget limits and receive alerts for upcoming bills to manage finances together effectively.
Price: Honeydue is free with Honeydue Plus at $6/month or $60/year for enhanced features.
Overall Rating: ⭐⭐⭐⭐/5
Wally
Highlight: Wally is one of the top apps for budgeting, especially for users looking to manage their finances effectively and those with international financial activities. Its expense tracking, budgeting, and detailed insights make it a comprehensive tool for financial management.
Why choose Wally?
✅ Expense Tracking
✅ Budgeting
✅ Spending Insights
✅ Currency Conversion
✅ Detailed Insights into Spending Patterns
How to Use Wally
Track expenses manually or via bank statement upload for automatic categorization. Set budget limits for categories like travel and entertainment, and utilize spending insights for informed financial planning.
Price: Wally is free with optional in-app purchases for additional features.
Overall Rating: ⭐⭐⭐⭐⭐/5
Goodbudget
Highlight: Goodbudget is a budgeting app that uses envelopes to help users manage their money. It tracks expenses and manages debt, encouraging disciplined spending by dividing money into virtual envelopes for different categories like food and utilities. This method promotes financial awareness by limiting spending to what's available in each envelope.
Why choose GoodBudget?
✅ Envelope Budgeting Method
✅ Expense Tracking
✅ Debt Management
✅ Virtual Envelope System for Allocating Money to Categories
How to Use GoodBudget
Divide income into virtual envelopes for different expense categories. Track spending manually or via import to ensure adherence to budget limits.
Price: Goodbudget offers a free version with Goodbudget Plus at $7/month or $60/year for unlimited envelopes.
Overall Rating: ⭐⭐⭐⭐/5
Simplify by Quicken
Highlight: Simplify by Quicken is an intuitive financial management tool offering budgeting, expense tracking, bill management, and goal-setting features. It simplifies finances with automated transaction categorization and bill alerts, providing insights into spending habits and progress toward financial goals.
Why choose Simplify by Quicken?
✅ Bill Management
✅ Financial Goal Setting
✅ Automated Transaction Categorization
✅ Alerts for Upcoming Bills
✅ Clear Insights into Spending Habits and Goal Progress
How to Use Simplify by Quicken
Connect financial accounts to Simplifi for real-time expense tracking and budget management. Set budget goals and receive alerts for impending bills to stay on track.
Price: Simplify by Quicken offers a 30-day free trial and costs $3.99/month or $39.99/year thereafter.
Overall Rating: ⭐⭐⭐⭐/5
YNAB (You Need A Budget)
Highlight: YNAB, short for "You Need A Budget," is a budgeting software and app that emphasizes zero-based budgeting. It helps users allocate every dollar to a specific purpose, track their spending, and plan for future expenses. YNAB encourages proactive financial planning by adjusting budgets in real-time based on income and expenses, fostering financial awareness and control.
Why choose YNAB?
✅ Zero-Based Budgeting
✅ Debt Payoff Tools
✅ Real-Time Syncing Across Devices
✅ Assigns Every Dollar a Job for Proactive Financial Planning
✅ Encourages Budget Adjustments with Income and Expense Fluctuations
✅ Fosters Financial Awareness and Control
How to Use YNAB
Begin by categorizing your budget items like groceries, rent, and savings goals. Allocate income to these categories and track expenses manually or via bank sync. YNAB's real-time updates help in staying within budget limits.
Price: YNAB offers a 34-day free trial and costs $84/year thereafter.
Overall Rating: ⭐⭐⭐⭐⭐/5
Mint
Highlight: Mint is a user-friendly app for personal finance management. It tracks expenses, creates budgets, sends bill reminders, and monitors credit scores. It categorizes transactions automatically and offers personalized financial insights, helping users stay on top of their finances with ease.
Why choose Mint?
✅ Bill Reminders
✅ Credit Score Monitoring
✅ Automatically Categorizes Transactions
✅ Personalized Financial Insights Based on Spending Patterns
✅ Monitors Credit Scores to Track Financial Health
How to Use: Connect accounts to Mint for automatic transaction categorization. Set budget limits for each category and receive alerts for overspending. Mint's comprehensive view helps in managing finances effectively.
Price: Mint is free, and supported by ads and offers.
Overall Rating: ⭐⭐⭐⭐/5
PocketGuard
Highlight: PocketGuard is a comprehensive financial management app that simplifies budgeting and expense tracking for users. It helps individuals set and achieve savings goals by providing tools for budget creation and personalized spending limits. PocketGuard aims to empower users with insights into their financial health, enabling informed spending decisions and proactive financial management.
Why choose PocketGuard?
✅ Expense Tracking
✅ Budgeting
✅ Personalized Spending Limits
✅ "In-Pocket" Feature Calculates Disposable Income
✅ Suggests Safe Spending Amounts Based on Bills and Savings Goals
How to Use PocketGuard
Connect accounts to PocketGuard for automated income and expense tracking. Set spending limits and savings goals, and monitor progress towards financial targets.
Price: PocketGuard offers a free version with PocketGuard Plus at $3.99/month or $34.99/year for additional features.
Overall Rating: ⭐⭐⭐⭐/5
5 Steps to Create AppAlloy Budgeting App (30 seconds only)
To create a budgeting app using AppAlloy, follow these easy steps:
Step 1. Sign Up and Log In
Visit AppAlloy's website, sign up with your email, confirm your account, and log in to access your dashboard.
Step 2. Start a New App
Click "Create a new app," name it (e.g., "Budgeting App"), and choose a template or start from scratch.
Step 3. Connect Your Data
Link your preferred data source (e.g., Google Sheets, Excel, Dropbox), follow the steps to integrate it, and import your budgeting data.
Step 4. Design Your App
Use the drag-and-drop editor to add elements like expense trackers, income logs, and summary tables. Customize alerts, colors, and fonts to match your style.
Step 5. Publish and Test
Click "Publish" to finalize your app. Check data synchronization settings and test all features to ensure everything updates correctly.
By following these steps with specific examples, you can quickly create your budgeting app using AppAlloy."
Is Mint or Rocket Money better?
Mint and Rocket Money (formerly Truebill) serve slightly different purposes:
- Mint: Best for comprehensive budgeting and financial tracking. It offers a wide range of features including budgeting, bill tracking, and credit score monitoring. Mint is highly automated and user-friendly, making it suitable for most users.
- Rocket Money: Best for managing subscriptions and reducing recurring expenses. It helps users identify and cancel unwanted subscriptions, lower bills, and monitor their credit. Rocket Money is ideal for users who want to take control of their recurring payments and save money on bills.
Choosing between Mint and Rocket Money depends on whether you need a broader budgeting tool (Mint) or a specialized app for managing subscriptions and bills (Rocket Money).
Key Takeaways
Each app offers unique features catering to different financial management needs, from budgeting and expense tracking to investment management and collaborative finance. Choosing the right app depends on individual preferences, financial goals, and the level of detail and integration needed for effective financial planning.
Source: AppAlloy | No-Code Mobile App Builder | Internal App Builder
FAQs
- What is the Goodbudget app?
- Goodbudget is a budgeting app based on the envelope budgeting method. Users allocate money into virtual envelopes for different spending categories (e.g., groceries, rent, entertainment). This method helps users visualize their spending limits and manage their finances more effectively. Goodbudget is ideal for those who prefer a hands-on, proactive approach to budgeting and appreciate the envelope method’s simplicity.
- What are the Top Apps for Budgeting?
- The best app to keep track of spending is often considered to be Mint. Mint automatically syncs with your bank accounts, credit cards, and bills to provide real-time tracking of your spending. It categorizes expenses, sets budget goals, and offers alerts for unusual spending, making it a powerful tool for day-to-day financial management.