Top 5 Budgeting Apps

Estimated read time: 2 minutes

These days making a budget doesn't have to mean sitting down, getting out a pen and paper, and manually going through all your receipts to see where your money has been going. We live in an age where you can go to the iTunes or Google Play Store, download an app, and just connect your bank account. There are quite a few options out there, so we found a few of the best ones to help you get that budget in order.

Mint

This is by far one of the most popular personal budgeting apps. Aside from being free, it is built on a secure platform by those who created QuickBooks and TurboTax. This app syncs to your bank accounts and credit cards and keeps a tab on incoming and outgoing transactions. It allows you to create a personalized budget. Mint will alert you whenever you are nearing or going over the budget limit. You can also track your due bills and create reminders so you're never late with any of your payments. Not just that, you could even sync your brokerage and retirement accounts to keep track of your investment portfolio.

Wally

Wally is the go-to app if you're solely interested in budgeting capabilities. As would be in any budget, Wally balances your income and expenses. It tracks your daily budget by giving you a single, simple number to focus on throughout the day. Wally also offers additional services like an analysis of where you're spending most of your money, including any patterns and behaviors it picks up on. This app is also free of charge.

Goodbudget

This is an excellent app for sharing a budget with a spouse, family member, roommate, or a friend. Through the app, transactions can be synced with the cloud and accessible across multiple devices. The app provides insightful reports around your budgeting and spending habits. A unique feature of this app is that it's based on the envelope budgeting method with no physical envelopes, only virtual ones. It allows you to not only track your spending but plan it out, too. What's better than saving money for a goal the good old envelop way?

YNAB (You Need A Budget)

This is an app that's aimed at budgeting for getting out of debt. It will help you break the paycheck to paycheck cycle and save more money. A key feature of this app is Debt Paydown, which offers tools and education you need to help you get out of debt for good. It also provides detailed reporting of spending trends to help you measure progress and improve spending habits. The app claims that, on average, new users save $600 in the first two months and more than $6,000 in the first year.

Mvelopes

This app is highly reliant on the envelope budgeting method to help you plan and track your budget and savings. You can assign and manage your budget, as well as receive feedback on where you have spent your money and how much you have remaining. It has been rated as the best online money management tool by Nasdaq.