The best budgeting apps help you understand your income and spending, so you have maximum control over your money. Budgeting apps may connect to your bank account and credit cards to automatically download transactions and categorize your spending to match the budget you choose.
The best budgeting apps come at an affordable price point, are easy to use and integrate with your accounts, and have features that match your budgeting style. Here are the top budgeting apps for the thrifty.
- You Need A Budget (YNAB)
You Need a Budget (YNAB) earns the top spot because of the company’s renowned budgeting philosophy and reputation. YNAB says new budgeters typically save $600 in their first two months and more than $6,000 in their first year. Although YNAB is the most costly option on our list, the company offers a 34-day free trial.
YNAB offers the ability to sync your bank accounts, import your data from a file, or manually enter each transaction. To begin, the company suggests learning the basics about the app through video courses, a live workshop, or reading a guide. YNAB offers a proactive budgeting approach, rather than tracking what you have already spent, like some competitors.
After signing up, you create your first budget and assign every dollar a purpose, like your rent or car payment, for example. The goal is to eventually get at least one month ahead, so you’re spending money you earned 30 days ago. The company offers extensive educational resources and customer support to keep you on track.
YNAB says privacy and security are its top priority. The company protects your information by using bank-level encryption for all data, best practices for password security, third-party audits, and more.
- Mint
Mint offers the best-known free budgeting app on the market. It’s a great option for anyone looking to improve their spending habits. The app is free, but you may see targeted financial product advertisements.
You may sync your financial accounts within the app or manually add transactions. Mint allows you to see all your accounts in one place and keep track of your spending daily. The app automatically organizes your spending so that you can see totals by category at a glance. Mint also offers monthly bill tracking, including payment reminders to avoid late fees. The app also offers the ability to keep track of your investments and check portfolio fees. Mint offers a few education resources like a home affordability calculator, loan repayment calculator, and blog with various personal finance topics.
Mint protects your data through features like security scanning with Verisign, multi-factor authentication, and touch ID mobile access. The company stores your login information in a separate database with multiple layers of hardware and software encryption.
- Simplify by Quicken
Simplifi by Quicken ranks best for cash flow because of the app’s effective tracking capabilities. It’s the best option for staying on top of how much you can spend between your paychecks. The app offers a free 30-day trial, and then you will pay $3.99 per month (billed annually at $47.99) or $5.99 per month if you choose not to pay upfront.
To get started, you have to sync bank accounts, and then you will have a complete snapshot of your finances. The app automatically categorizes your spending, tracks recurring bills and subscriptions, and stays on top of upcoming expenses.
One standout feature is the app’s custom watchlists, which allow you to limit spending by category or payee. Also, the custom spending plan monitors cash flow to make sure you never spend more than you make. Simplifi by Quicken offers tips while you’re using the app, but there’s also a blog full of educational content at your fingertips.