Ultimate Guide to the Best Budgeting Apps

Updated: October 31, 2024

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Budgeting has come a long way from traditional pen-and-paper methods to the dynamic, feature-rich apps we use today. The best budgeting apps don’t just track income and expenses — they offer tools like real-time updates, goal setting and spending analysis that can help you manage your money more effectively.

When choosing a budgeting app, consider factors such as ease of use, the ability to sync with bank accounts and whether the app supports your specific financial goals. We’ve compiled a list of the top budgeting apps, each selected for its standout features, user experience and overall effectiveness. Understand the strengths of each app to choose the one that best aligns with your financial goals.

Key Takeaways

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The ideal budgeting app is one that fits your specific financial needs, whether you’re looking for basic tracking or advanced financial planning tools.

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Opt for budgeting apps with robust security features, such as multi-factor authentication, especially when linking your financial accounts.

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Regularly reviewing and adjusting your budget can help you stay aligned with your financial goals, particularly as your income or expenses change.

MoneyGeek’s Top 10 Budgeting Apps

MoneyGeek curated 10 of the highest-rated budgeting apps on the market to help you find the best tool tailored to your financial needs. We considered key factors such as features, customer ratings from the App Store and Google Play, as well as pricing and pros and cons. We've listed these apps based on their average ratings across both platforms.

1. Fudget

  • Best for: Simplicity
  • Price: Free; Fudget Plus $14.99 bi-annually or $19.99 annually
  • Average App Rating: 4.75 (App Store: 4.7 | Google Play: 4.8)

Fudget is ideal for users who want a simple and straightforward budgeting tool without the complexities of account linking or detailed financial tracking. The app focuses on basic budgeting by allowing you to create lists of income and expenses, making it perfect for those who prefer manual monitoring. Its minimalist interface is easy to navigate, allowing you to quickly set up and manage your budget.

One of Fudget’s key strengths is its simplicity. It doesn’t overwhelm users with unnecessary features or subscriptions. The Plus version adds a few extra features like themes and automatic backups, but even the free version is robust enough for basic budgeting needs.

Pros and Cons

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Pros
  • Extremely simple and easy to use
  • No subscriptions required
  • One-time Pro purchase option
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Cons
  • Lacks advanced features
  • Manual data entry required
  • No account linking or detailed analytics

2. YNAB (You Need a Budget)

  • Best for: Hands-on budgeting
  • Price: 34-day free trial, then $14.99 monthly or $109 annually
  • Average App Rating: 4.6 (App Store: 4.8 | Google Play: 4.4)

YNAB is designed for those who want to actively manage their finances using a zero-based budgeting method, where every dollar is allocated purposefully. This approach deepens your understanding of spending and saving, helping you stay financially accountable. Key features include real-time updates, a loan calculator and detailed reports on spending and net worth.

The app offers customization, allowing multiple budgets and prioritization of savings goals. With synchronization across all your financial accounts, YNAB provides real-time tracking. Whether you're focused on debt reduction, saving for big purchases or gaining better control over expenses, YNAB equips you with the tools to achieve your financial goals.

Pros and Cons

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Pros
  • Smart budget categorization
  • Supports multiple budgets
  • Real-time updates across devices
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Cons
  • Requires active involvement
  • No investment tracking
  • Paid app

3. Goodbudget

  • Best for: Traditional budgeters
  • Price: Free; Premium $8 monthly or $80 annually
  • Average App Rating: 4.6 (App Store: 4.6 | Google Play: 4.6)

Goodbudget is perfect for those who prefer the traditional envelope budgeting method, where income is allocated to different spending categories or "envelopes." This method helps prevent overspending by limiting how much you can assign to each category. Goodbudget syncs across devices, allowing you to manage your budget collaboratively with family members.

The free version includes basic features, such as 20 envelopes and debt tracking, but limits you to one account and two devices. The premium version offers unlimited envelopes and accounts, plus access from up to five devices, making it a more comprehensive tool for managing multiple financial goals.

Pros and Cons

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Pros
  • Traditional envelope budgeting method
  • Syncs across multiple devices
  • Supports debt tracking
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Cons
  • Limited features in the free version
  • Additional devices require a paid plan
  • No investment tracking

4. Spendee

  • Best for: Visual budget tracking
  • Price: Free; Spendee Plus $1.99 monthly or $14.99 annually; Spendee Premium $2.99 monthly or $22.99 annually
  • Average App Rating: 4.6 (App Store: 4.6 | Google Play: 4.6)

For users who prefer a visually engaging way to manage their finances, Spendee offers an intuitive and colorful approach to budgeting. The app allows you to track spending and manage multiple wallets with visual charts and graphs, providing a clearer understanding of where your money is going. Spendee also supports multi-currency transactions, which is particularly useful for international users or those who travel frequently.

The app’s free version provides basic budgeting features, while the paid versions unlock additional capabilities such as shared wallets for collaborative budgeting, custom categories and access to more detailed financial insights.

Pros and Cons

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Pros
  • Visually engaging and intuitive interface
  • Supports multiple currencies
  • Offers shared wallets for collaborative budgeting
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Cons
  • Limited features in the free version
  • Premium version required for full functionality
  • No investment tracking

5. Oportun (formerly Digit)

  • Best for: Passive budgeters
  • Price: Free for six months, then $5 monthly
  • Average App Rating: 4.4 (App Store: 4.7 | Google Play: 4.1)

If you prefer a more hands-off approach to budgeting, Oportun might be the ideal tool. This app automatically analyzes your income and expenses, moving small amounts of money into savings to ensure you’re always prepared for upcoming bills. By automating the savings process, Oportun helps users stay on track with minimal effort, which is especially beneficial for those who want to save without constant attention.

After the initial six-month free trial, a $5 monthly fee applies for continued access to Oportun’s automated savings features and bill payment tools. While it’s a convenient option, users should consider whether the benefits of a hands-free budgeting experience justify the ongoing cost.

Pros and Cons

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Pros
  • Automated savings and bill payments
  • Hands-free budgeting experience
  • Easy account synchronization
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Cons
  • $5 monthly fee after free trial
  • Limited manual control
  • No investment tracking

6. PocketGuard

  • Best for: Overspenders
  • Price: Free; Premium $12.99 monthly or $74.99 annually
  • Average App Rating: 4.3 (App Store: 4.6 | Google Play: 4.0)

For those who struggle with overspending, PocketGuard offers a straightforward way to manage finances and avoid unnecessary expenses. The app calculates how much “pocket” money you have after setting aside funds for bills, savings goals and essentials, ensuring you don’t exceed your budget. It also incorporates the SMART (Specific, Measurable, Achievable, Relevant and Timely) goal-setting strategy to help users achieve well-defined financial targets.

Although PocketGuard’s basic version provides useful tools like spending tracking and bill reminders, opting for the premium version enhances your experience with features such as a debt payoff plan and the ability to customize spending categories to suit your financial habits better.

Pros and Cons

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Pros
  • Helps prevent overspending
  • Links to multiple financial accounts
  • Uses SMART goal strategy for budgeting
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Cons
  • Debt payoff plan is premium-only
  • Custom categories require a paid plan
  • Limited savings goals in the free version

7. Empower (formerly Personal Capital)

Empower, previously known as Personal Capital, is ideal for those who want to merge budgeting with investment tracking. The app provides a comprehensive suite of financial tools, including a net worth calculator, investment checkups and access to financial advisors. Empower is tailored for users focused on wealth management, offering a holistic view of both day-to-day finances and long-term investments.

Although the app is free, its primary strength lies in investment and wealth management rather than traditional budgeting. However, Empower still offers essential tools for tracking expenses and managing cash flow, proving to be a valuable resource for those who need a blend of budgeting and investment oversight.

Pros and Cons

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Pros
  • Comprehensive financial tools
  • Free access to investment tracking
  • Includes financial advisor access
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Cons
  • More focused on investments than budgeting
  • May be complex for budgeting beginners
  • No envelope or zero-based budgeting

8. Quicken Simplifi

  • Best for: Real-time financial tracking
  • Price: $2.99 monthly (billed annually)
  • Average App Rating: 4.3 (App Store: 4.2 | Google Play: 4.3)

Quicken Simplifi is tailored for users who want to track their financial activities in real-time. The app provides a personalized approach to budgeting by creating custom spending plans and offering detailed insights into financial habits. It’s a great choice for consumers who prefer a more dynamic and ongoing management of their finances, as it continually updates and adjusts your budget based on actual spending.

Simplifi’s intuitive interface allows you to set up watchlists for specific spending categories and track your cash flow with ease. While the app requires a subscription, its features are robust enough to justify the cost, especially for those looking for a more interactive budgeting experience.

Pros and Cons

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Pros
  • Real-time financial tracking
  • Customizable spending plans
  • User-friendly interface with watchlists
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Cons
  • Subscription required
  • Limited investment features
  • Less comprehensive than Quicken’s desktop versions

9. Honeydue

Managing finances as a couple can be challenging, but Honeydue simplifies the process by offering tools specifically designed for shared budgeting. The app allows couples to sync their financial accounts, track spending together and set up bill reminders to avoid late payments. Honeydue also includes a built-in chat feature, making it easy for partners to communicate about their finances directly within the app.

Honeydue is free to use and offers essential features for couples to manage their finances collaboratively. It categorizes expenses automatically or lets users customize them, ensuring that both partners are on the same page financially. However, it’s worth noting that the app is more focused on tracking shared expenses rather than providing in-depth budgeting analytics.

Pros and Cons

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Pros
  • Syncs financial accounts for couples
  • Free and easy to use
  • Includes bill reminders and a chat feature
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Cons
  • Focuses more on tracking than on detailed analytics
  • Limited advanced budgeting features
  • No investment tracking or net worth reports

10. EveryDollar

  • Best for: Basic budgeters
  • Price: Free; Premium $12.99 monthly or $79.99 annually
  • Average App Rating: 4.0 (App Store: 4.7 | Google Play: 3.3)

EveryDollar is an excellent choice for users who prefer a straightforward, no-frills budgeting tool. Developed by Ramsey Solutions, this app utilizes a zero-based budgeting approach, where every dollar is assigned a job, ensuring that your income is fully accounted for. It's particularly suited for those new to budgeting or looking for a simple way to track expenses without overwhelming features.

While the basic version of EveryDollar is free and includes essential tools like budgeting categories and savings goals, the premium version offers added benefits such as bank synchronization and detailed spending reports. This makes it a flexible option for users who want to start with the free version and upgrade as their budgeting needs evolve.

Pros and Cons

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Pros
  • Simple and easy-to-use interface
  • Zero-based budgeting method
  • Budget customization and savings goals
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Cons
  • Bank sync is available only in the premium version
  • Fewer features compared to other apps
  • Free version requires manual entry

What to Consider When Choosing a Budgeting and Money-Saving App

With many apps available on the market, choosing one can be a bit overwhelming. Generally, the best option would be the app that fits your needs. Comparing your choices — including the prices, features, security and customer service — will give you an idea of which app is suitable for you. It’s also important to ensure the app is compatible with your device.

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    Price

    There are many free budgeting apps you can easily download. However, some have limited features. You may need to spend a few bucks to access special features. Most paid apps offer free trials that allow you to test the different features and see if they cater to your needs.

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    Features

    Typically, budgeting apps allow users to create budget plans and track expenses. You can customize and arrange costs into categories. Most also offer bank synchronization, making it easier for users to monitor their finances using a single platform. However, some provide unique features like saving and investment.

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    Security

    Don’t forget to check the safety and security features of the budgeting apps. You’ll be inputting important data and syncing other accounts, so ensuring the safety of your personal information is crucial. Consider apps that have multi-factor authentication for log-in attempts, especially when syncing sensitive information like retirement accounts or life insurance policies.

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    Device compatibility

    One of the most important things you need to check is the compatibility of the app with your devices. Try opening the app on different devices, such as iOS and Android devices, that you plan on using to access your budget plan.

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    Customer service

    You may encounter issues while using a budgeting app. In such cases, having a technical or customer service team you can easily reach out to for help is a major boost. Before signing up for an app, research their services. You can read reviews from current and former customers about their experiences.

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FREE VS. PAID BUDGETING APPS — WHICH SHOULD YOU CHOOSE?

When choosing a budgeting app, assess whether a free or paid version fits your needs. Free apps work well for basic features and saving money, whereas paid options offer premium services, comprehensive account management and extra motivation. If a paid app seems too expensive, consider consulting a financial advisor as an alternative.

How to Get the Best Use Out of Budgeting and Money-Saving Apps

Effective budgeting is crucial to sound financial planning. Budgeting and money-saving apps can play a huge role in accomplishing your objectives. Knowing how to use an app effectively can help you maximize the benefits.

1
Set your goals

The first step is to determine your needs. What do you want to accomplish? What are your long-term financial goals? This process will help determine the types of features you’ll need.

2
Compare your options

Once you know what you want to see in a budgeting app, you can look for the best options. Consider checking multiple apps and comparing their offers. Decide whether a free app is enough for you or if a paid subscription is necessary to meet your needs.

3
Keep notifications on

A budgeting app offers many benefits. However, it’ll only be an effective tool if you use it regularly. If you think it’ll be hard to commit to logging in daily or weekly, turn on the app notifications to get alerts. This will keep you informed about your financial situation.

4
Sync transactions

Make sure your app is synchronized with your bank accounts so that all transactions are automatically filed. This allows you to monitor your spending in real time.

5
Review and adjust your budget regularly

Budgeting isn’t a set-it-and-forget-it task. Regularly review and adjust your budget to make sure it aligns with your current financial situation. Changes in income, expenses or significant costs, like the cost of car insurance, may require updates to your budget to keep you on track.

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MONEYGEEK GUIDES

Budgeting is only one aspect of financial management. MoneyGeek created a few guides to help you make well-informed financial decisions.

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FAQ About Budgeting Apps

What are the benefits of using budgeting apps?
What are the best free budgeting apps?
What are the best personal budgeting apps?
What are the best budgeting apps for young couples?
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Are budgeting apps safe to use?

About Nathan Paulus


Nathan Paulus headshot

Nathan Paulus is the Head of Content Marketing at MoneyGeek, with nearly 10 years of experience researching and creating content related to personal finance and financial literacy.

Paulus has a bachelor's degree in English from the University of St. Thomas, Houston. He enjoys helping people from all walks of life build stronger financial foundations.