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Best Budget Apps to Maximize Your Savings

davidjbufton
David Bufton Updated: October 2, 2023 • 5 min read
budgeting app on phone

Budgeting apps provide a clear understanding of your finances, highlighting where your money is being spent and helping to identify areas for cost-cutting. We’ve researched what’s available on the market and have summarized the best budgeting apps available today.

Top Budget Apps for February 2024

Rocket Money

rocket money budget app

Rocket Money offers users a well-established budgeting app with some nifty unique features. You can use the bill negotiation feature to see if you can get the same service for cheaper elsewhere, although if you select this option, Rocket Money will take a percentage of the amount you saved. There is a free plan offering the basic budgeting tools, as well as a premium plan allowing you to create unlimited budgets. Rocket Money is worth considering if you are looking to save money on everyday expenses.

Rocket Money
Cost

$36 (yearly)

$5 (monthly)

Downloads

iOS: 53,000+

Android: 45,000+

Bank sync Yes
Free trial Yes
Rating

Apple Store: 4.8

Android Google Play: 4.2

Pros Syncs to all bank accounts, reasonably priced, lots of budget flexibility on the premium plan
Cons Bill negotiation fees payable to Rocket Money are between 30%-60% of savings.

 

Mint

Mint Budget app

Mint is the personal finance app offered by financial software giant Intuit. It’s no surprise that this free app has landed a spot on our best personal budget apps list - Mint serves as a one-stop shop for all of your financial planning needs. You can link your cards to your Mint account, and the Mint app then sorts and analyses how you spend your money. Mint also gives you a free credit score as well as providing tips on how to improve your credit rating going forward.

Mint
Cost Free
Downloads

 iOS: 780,000+

Android: 204,000+

Bank sync Yes
Free trial Using the app is free
Rating

Apple Store: 4.8

Android Google Play: 4.2

Pros Can link to multiple financial institutions, automatic spending analysis, free ‘Mintsights’ that help with money management
Cons Adverts can be annoying.

 


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Goodbudget

Goodbudget budgeting app

Goodbudget is an app that is ideal for forward financial planning and one of our best free budget apps. Your monthly income is allocated to “envelopes”; every time you spend, you record the expense in that envelope. When no money is left in an envelope, you stop spending money in that category. While Goodbudget is a very useful tool to ensure that you spend in line with your budget, it doesn’t sync to your bank accounts. Therefore, you have to enter each transaction manually.

Goodbudget
Cost Free
Downloads

iOS: 12,500+

Android: 19,000+

Bank sync No
Free trial Using the app is free
Rating

Apple Store: 4.7

Android Google Play: 4.3

Pros A simple method to track future spending – up to 20 envelopes can be created in the free version
Cons No sync to bank accounts means that all data must be entered manually

You Need a Budget (YNAB)

You Need a Budget financial app

YNAB offers an app focused on zero-based budgeting, which is the principle that every dollar earned is allocated in a budget. We liked YNAB for how hands-on and involved it is, with excellent levels of detail for future financial planning. Your YNAB account syncs to your bank accounts, and transactions update in real-time. YNAB also provides multiple educational resources to help you understand more about the budgeting process, which is why it is one of our best budgeting apps.

You Need a Budget (YNAB)
Cost

$14.99 (Monthly)

$99 (Yearly)

Downloads

iOS: 45,000+

Android: 15,000+

Bank sync Yes
Free trial 34-day free trial
Rating

Apple Store: 4.8

Android Google Play: 4.8

Pros Detailed customizable reports, real-time budgeting analysis, 1-year free trial for college students
Cons Lots of features that some users may not understand, cheaper alternatives available

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Honeydue

Honeydue Budget App

Honeydue is designed for couples to use to review spending together. As one of our best budget app free for smartphones and tablets, Honeydue focuses on reviewing past spending and categorizing all expenditures so they can be easily analyzed. Couples can even chat with each other through the Honeydue app, and notifications are sent when you or your partner are nearing your budgeted limits. We also liked the feature that notifies you when a bill is due.

Honeydue
Cost Free
Downloads

iOS: 8,000+

Android: 2,000+

Bank sync Yes
Free trial The app is free to use
Rating

Apple Store: 4.5

Android Google Play: 3.3

Pros Free-to-use app, excellent for couples who want to budget together, automatically syncs with multiple bank accounts
Cons Poor Android app reviews, heavy in-app advertising

EveryDollar

EveryDollar Budget app

EveryDollar is another budgeting app that focuses on the zero-based budgeting approach. Unlike YNAB, which offers in-depth budgeting, EveryDollar gives users a simpler way to perform zero-based budgeting. The free version of EveryDollar doesn’t sync to your bank accounts, so you can only enter financial details manually. The paid version allows for syncing with bank accounts, reducing the amount of time you have to spend inputting financial data into the app.

EveryDollar
Cost

$12.99 (monthly)

$79.99 (Yearly)

Downloads

 iOS: 60,000+

Android: 10,000+

Bank sync Yes (Premium version only)
Free trial Yes
Rating

Apple Store: 4.7

Android Google Play: 3.3

Pros Simple-to-use app, helpful spending level indicators
Cons The free version doesn’t include bank sync, poorly rated on Android

PocketGuard

PocketGuard mobile budget app

PocketGuard may be the simplest budgeting app that our team reviewed for this best personal budget app guide. Your bank accounts can sync to the PocketGuard app, and the account automatically updates how much money is left each month after factoring in all the monthly bills. You are notified when you get near your spending limits, and you can also set savings goals that PocketGuard will help you to achieve.

PocketGuard
Cost

$7.99 (monthly)

$34.99 (Yearly)

$79.99 (Outright purchase)

Downloads

iOS: 6,000+

Android: 2,000+

Bank sync Yes (Premium version only)
Free trial Yes
Rating

Apple Store: 4.7

Android Google Play: 3.7

Pros Very easy to use, syncs to bank accounts, automatic budgeting features
Cons Very hands-off, so not suitable for people wanting a lot of involvement in the budgeting process

*This data updated to 26.7 and is based on the IOS and Android app stores.

Conclusion

There are many top-quality budgeting apps available that help you to take better control of your finances. Many apps offered are free, but we’ve reviewed the best budgeting apps available today. Different apps have different uses, so consider if you want an app that helps analyze your current spending or if you want the best free budget app for future financial planning.

If you want a simple way to review your expenses and find easy ways to budget for the future, consider the budgeting apps we have reviewed and choose the one that best suits your need.

faq-icon

FAQ

What features should I look for?

Different budgeting apps have different selling points, so it depends on what you need. Do you want to review your current expenses, or do you want the best personal budget app for future expenditures? When choosing a budgeting app, check the cost, whether it syncs to your bank account, and whether you want a forward-looking or backward-looking app.

What are budgeting apps?

Budgeting apps are financial tools that allow you to track and manage your personal finances. The best budgeting apps let you create tailored budgets, categorize and analyze your current spending levels and suggest areas where you can save money. Many budgeting apps sync to your bank accounts in real time, ensuring that users can make smart financial decisions with the most up-to-date information.

How much does a personal finance app cost?

The best budgeting apps vary in cost, from absolutely free to $150+ a year. Consider what features you need from a budgeting app before committing to spending money, as the app that you need may just be available for free.

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davidjbufton
Written by David Bufton

After graduating from the University of Warwick with a degree in accounting, David went on to become a fully certified accountant. Since then, he has amassed years of experience working in and writing for various sectors, including finance, gaming, and telecommunications. Now, he uses his extensive experience and knowledge in business and finance to deliver top-quality content.