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The 10 Best Budgeting Apps to Help You Save More Money

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  • Post last modified:June 4, 2024

Managing your finances can be a daunting task, especially in today’s fast-paced world where expenses seem to pile up quickly. Fortunately, technology has made it easier than ever to stay on top of your budget with the help of budgeting apps. 

These apps are designed to streamline your financial management, track your spending, and help you save more money. In this article, we’ll explore the 10 best budgeting apps that can help you take control of your finances and achieve your financial goals.

Skale Money Key Takeaways

  • YNAB (You Need A Budget) uses an envelope budgeting system that allocates every dollar before you spend it, helping you prioritize expenses and avoid overspending.
  • Empower Personal Dashboard is a free comprehensive app that links accounts, tracks spending, provides personalized insights and enables automatic bill pay.
  • Goodbudget offers a user-friendly envelope budgeting approach ideal for beginners, with the ability to create virtual envelopes for different spending categories.
  • Oportun (formerly Digit) uses intelligent algorithms to automatically set aside small amounts for savings based on your income and spending patterns.
  • Apps like Honeydue and Goodbudget cater specifically to couples and families with features like joint account management and shared budgeting capabilities.

Why budgeting apps are important

Budgeting apps are crucial for several reasons. First and foremost, they provide a clear overview of your income and expenses, allowing you to identify areas where you can cut back or save more. By tracking your spending habits, these apps help you become more mindful of your financial decisions and make informed choices about where to allocate your resources.

Moreover, budgeting apps often come equipped with features like goal-setting, bill reminders, and investment tracking, which can help you stay motivated and on track with your financial objectives. Some even offer budgeting apps with sync capabilities, allowing you to sync your accounts across multiple devices for seamless budgeting on the go.

The Best Budgeting Apps

YNAB (You Need A Budget)

YNAB (You Need A Budget) is a powerful budgeting app that takes a unique approach to personal finance. Instead of tracking your expenses after the fact, YNAB encourages you to allocate every dollar of your income towards specific categories before you spend it. This proactive approach helps you prioritize your spending and avoid overspending.

AppFeaturesPriceProsCons
YNAB (You Need A Budget)Envelope budgeting system

Goal tracking

Direct import from
banks

Mobile and web
apps

Sync across devices
$14.99/month or $98.99/yearEffective budgeting method

Comprehensive features

Sync across devices

Free workshops and support
Subscription-based pricing

Steep learning curve for beginners

SkaleMoney Recommends YNAB for: While YNAB has a steeper learning curve than some other apps, it’s an excellent choice for anyone serious about getting their finances in order. 

The envelope budgeting system and goal-tracking features make it a powerful tool for budgeting apps for couples or families looking to take control of their spending and achieve their financial goals.

Empower Personal Dashboard

Empower Personal Dashboard is a free budgeting app that offers a comprehensive suite of financial management tools. It allows you to link all your accounts in one place, track your spending, and set up automatic bill payments. The app also provides personalized insights and recommendations based on your financial data.

AppFeaturesPriceProsCons
Empower Personal DashboardAccount linking

Spending tracking

Bill pay

Personalized insights

Mobile and web apps
FreeCompletely free

Comprehensive features

Personalized recommendations

Automatic bill pay
Limited goal-setting tools

Lacks investment tracking

SkaleMoney Recommends Empower for: If you’re looking for a free budgeting app with robust features, Empower Personal Dashboard is an excellent choice. It’s particularly well-suited for budgeting apps for students or young professionals who want to stay on top of their finances without paying a subscription fee.

Goodbudget

Goodbudget is a budgeting app that uses the envelope budgeting method, similar to YNAB. However, it’s designed to be more user-friendly and accessible for beginners. The app allows you to create virtual envelopes for different spending categories and easily track your expenses.

AppFeaturesPriceProsCons
GoodbudgetEnvelope budgeting system

Sync across devices

Debt tracking

Mobile and web apps

Easy to use
Free (Plus version $10/month or $80/year)Simple and intuitive interface

Envelope budgeting method

Sync across devices

Free version available
Limited features in free version

No direct import from banks

SkaleMoney Recommends Goodbudget for: Goodbudget is an excellent choice for those new to budgeting or who prefer a more straightforward approach. Its user-friendly interface and envelope budgeting system make it an easy-to-use budgeting app for families with kids or anyone looking to get started with budgeting without a steep learning curve.

Oportun (formerly Digit)

Oportun (formerly Digit) is a unique budgeting app that uses intelligent algorithms to analyze your income and spending patterns and automatically set aside small amounts of money for savings. This makes it an ideal choice for those who struggle with saving consistently.

AppFeaturesPriceProsCons
Oportun (formerly Digit)Automatic savings

Intelligent algorithms

Goal setting

Mobile app

Withdraw savings anytime
$5/month after a 30-day free trialAutomates saving process

Intelligent algorithms

Goal setting

No long-term commitment
Limited budgeting features

Monthly subscription fee

SkaleMoney Recommends Oportun for: If you have trouble setting aside money for savings, Oportun can be a game-changer. Its automated savings feature makes it an excellent choice for anyone looking to build up their savings without having to think about it constantly. It’s particularly well-suited for budgeting apps for students with loans or those with inconsistent incomes.

Monarch Money

Monarch Money is a comprehensive budgeting app that offers a range of features to help you manage your finances. It allows you to link all your accounts, track your spending, set up bill reminders, and even monitor your investments.

AppFeaturesPriceProsCons
Monarch MoneyAccount linking

Spending tracking

Bill reminders

Investment tracking

Mobile and web apps
Free (Plus version $14.99/month or $99.99/year)Comprehensive features

Investment tracking

Bill reminders

Free version available
Limited features in free version

No automatic savings tools

SkaleMoney Recommends Monarch Money for: With its robust features and investment tracking capabilities, Monarch Money is an excellent choice for those looking for a comprehensive budgeting solution. It’s particularly well-suited for budgeting apps for families or individuals with multiple accounts and investments to manage.

PocketGuard

PocketGuard is a budgeting app that simplifies financial management by providing a clear overview of your income, expenses, and remaining funds. It uses an intuitive “in my pocket” display to show you how much money you have left to spend after accounting for bills and savings goals.

AppFeaturesPriceProsCons
PocketGuard“In my pocket” display

Budget and goal tracking

Account linking

Bill reminders

Mobile app
Free (Plus version $12.99/month or $74.99/year)Simple and intuitive interface

Clear overview of remaining funds

Bill reminders

Free version available
Limited investment tracking

No automatic savings tools

SkaleMoney Recommends PocketGuard for: With its straightforward “in my pocket” display, PocketGuard is an excellent choice for anyone looking for a simple and intuitive budgeting app. It’s particularly well-suited for budgeting apps for Android or iOS users who want a clear picture of their remaining funds at a glance.

Stash

Stash is a unique budgeting app that combines financial management tools with investment capabilities. It allows you to set aside money for savings and investment goals while also providing educational resources to help you learn about personal finance.

AppFeaturesPriceProsCons
StashBudgeting tools

Investment accounts

Automatic transfers

Educational resources

Mobile app
$3/month (investment accounts have additional fees)

Stash+$9/month
Combines budgeting and investing

Automatic transfers

Educational resources

Low monthly fee
Limited budgeting features

Investment account fees can add up

SkaleMoney Recommends Stash for: Stash is an excellent choice for anyone looking to not only budget their money but also invest for the future. Its educational resources and low monthly fee make it an attractive option for budgeting apps for students or beginners who want to learn about personal finance while managing their money.

Honeydue

Honeydue is a budgeting app for couples that allows partners to share financial information and collaborate on budgeting and expense tracking. It offers features like bill reminders, goal setting, and even a split transactions feature for dividing shared expenses.

AppFeaturesPriceProsCons
HoneydueJoint accounts

Expense tracking

Bill reminders

Goal setting

Split transactions
Free Designed for couples

Joint account management

Split transaction feature

Free version available
Limited features in free version

No investment tracking

SkaleMoney Recommends Honeydue for: As the name suggests, Honeydue is the best free budgeting app for couples looking to manage their finances together. It’s joint account management and split transaction features make it easy for partners to collaborate on budgeting and expense tracking.

Rocket Money

Rocket Money is a budgeting app that focuses on helping you save money by identifying and canceling unwanted subscriptions and negotiating better rates on bills like cable, internet, and more.

AppFeaturesPriceProsCons
Rocket MoneySubscription Monitoring

Bill negotiation

Budgeting tools

Account linking

Mobile app
$7.99/month after a 30-day free trialHelps cancel unwanted subscriptions

Bill negotiation service

Budgeting tools included
Monthly subscription fee

Limited investment tracking

SkaleMoney Recommends Rocket Money for: If you’re looking for a way to save money on recurring bills and subscriptions, Rocket Money is an excellent choice. Its subscription monitoring and bill negotiation services can help you identify and reduce unnecessary expenses, making it a valuable addition to your budgeting toolkit.

Copilot

Copilot is a budgeting app that takes a unique approach to financial management. It uses artificial intelligence to analyze your spending patterns and provide personalized insights and recommendations for optimizing your budget.

AppFeaturesPriceProsCons
CopilotAI-powered insights

Spending analysis

Personalized recommendations

Account linking

Mobile app
Free (Plus version $13/month or

$95/year)
AI-powered personalized insights

Detailed spending analysis

Free version available
Limited budgeting tools in free version

No investment tracking

SkaleMoney Recommends Copilot for: If you’re looking for a budgeting app that can provide personalized insights and recommendations based on your spending habits, Copilot is an excellent choice. Its AI-powered analysis can help you identify areas for improvement and optimize your budget, making it a valuable tool for anyone looking to take their financial management to the next level.

Bottomline

Choosing the right budgeting app can make a significant difference in your ability to manage your finances effectively. Whether you’re looking for a budgeting app with sync capabilities, goal-setting tools, or investment-tracking features, the apps listed above offer a variety of options to suit your needs.

Remember, the key to successful budgeting is finding an app that aligns with your lifestyle and financial goals. Don’t be afraid to try out a few different options until you find the one that works best for you.

FAQs

Are budgeting apps safe to use?

Reputable budgeting apps use encryption and other security measures to protect your financial information. However, it’s always important to research the app’s privacy policies and take necessary precautions, such as enabling two-factor authentication and avoiding public Wi-Fi when accessing sensitive financial information.

Can budgeting apps work with multiple bank accounts? 

Yes, most budgeting apps allow you to link multiple bank accounts, credit cards, and other financial accounts to provide a comprehensive view of your finances.

Do budgeting apps work for irregular or freelance income? 

Some budgeting apps, like YNAB and Goodbudget, are particularly well-suited for managing irregular or freelance income. These apps allow you to allocate your income as it comes in, rather than relying on a fixed monthly budget.

Can budgeting apps help with debt management? 

Many budgeting apps offer debt tracking and management features, allowing you to incorporate debt payments into your budget and track your progress toward becoming debt-free.

Are there budgeting apps specifically designed for couples or families? 

Yes, apps like Honeydue and Goodbudget offer features tailored for couples and families, such as joint account management and shared budgeting capabilities.

By incorporating one of these best budgeting apps into your financial routine, you’ll be well on your way to taking control of your money and achieving your financial goals. Remember, budgeting is a crucial step towards building a secure financial future, and these apps make the process easier and more efficient than ever before.

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