Many people shy away from budgeting because it seems daunting. However, budgeting apps make the process much easier and can help you save money in the long run.
By tracking your earnings and spending, budgeting apps can help you to avoid overspending and getting into debt.
They can also help you to keep track of due dates for credit card payments and student loan repayments. In this blog post, we will discuss the best budgeting apps for 2022. We’ll go over the features of each app and help you decide which one is right for you.
Best Budget Apps In 2022
- Mint – Best overall
- You Need a Budget (YNAB) – Best for serious budgeters
- Simplifi – Best For Cash Flow
- Personal Capital – Best for Investors
- Goodbudget – Best For budgeting beginners
- EveryDollar – Best zero-based budgeting app
- Fudget – Best For Planning
- Honeydue – Best for couples
- PocketGuard – Best for over-spenders
- Zeta – Best for shared budgets
There are a lot of budgeting apps on the market, and it can be hard to decide which one is right for you. That’s why we’ve done the research and testing for you and compiled a list.
Mint – Best overall
Mint is one of our top picks because it’s a popular and well-rounded app that’s free to use. You can connect all your bank accounts to Mint and get an overview of your spending, set up bill payment reminders, track investments, and even see your TransUnion credit score.
While some users have complained about technical issues, we think Mint is a great option for anyone looking for a budgeting app. And if you’re not satisfied with Mint, there are plenty of other options to choose from.
Simplifi – Best For Cash Flow
When it comes to budgeting apps, Simplifi by Quicken is one of the best options out there. It features a visual, easy-to-navigate design that can handle four budgeting methods, including zero-sum.
Plus, there are useful ways to watch how you spend and your saving. However, there are some challenges with connecting accounts and it lacks support for complex annual budgets or tax planning.
Still, at $3.99 per month billed annually, it’s a great option for budgeters of all levels.
You Need a Budget (YNAB) – Best app for serious budgeters
You Need a Budget (YNAB) is a great option. Although it’s the most expensive app on our list, it offers a 34-day free trial so you can try it before you buy. YNAB is known for its thorough budget makeover process and excellent customer service. In fact, the company claims that new budgeters save an average of $600 in their first two months and more than $6,000 in their first year.
However, keep in mind that YNAB can be more time-intensive to learn than other apps since it requires a bit of a mental shift in how you think about budgeting. Additionally, there have been some recent reports of sync issues. Overall, though, YNAB is a strong choice if you’re serious about getting your finances in order.
Personal Capital – Best for investors
If you’re looking for a comprehensive wealth management solution, Personal Capital is worth checking out. It offers a robust set of features for tracking your net worth, setting financial goals, and investing for the future.
Best of all, it’s free to use – though there is also a paid investment service available if you want more hands-on assistance with your portfolio.
Syncing your bank accounts is quick and easy, and once everything is connected you can get an overview of your finances in one place. The Retirement Planner is especially useful, helping you map out how much you need to save to enjoy a comfortable retirement. And if fees are eating into your investment returns, the Fee Analyzer tool will help you find ways to minimize them.
On the downside, Personal Capital isn’t as focused on budgeting as some other apps – though it does offer educational resources to help you learn more about financial planning. And if you do decide to sign up for the paid investment service, be prepared for sales calls from wealth managers.
Overall, though, Personal Capital is a great option for anyone looking for a well-rounded financial management solution.
Goodbudget – Best For budgeting beginners
This app is based on the envelope budgeting system, which means you’ll need to manually enter all of your income and expenses. While this may sound like a lot of work, it can actually be quite helpful in developing a better understanding of where your money goes each month.
Best of all, Goodbudget is completely free to use. If you want some additional features, such as the ability to sync financial accounts, you can sign up for Goodbudget Plus for just $7 per month.
EveryDollar – Best zero-based budgeting app
EveryDollar from Ramsey Solutions is an online zero-dollar budgeting tool that follows a similar vein to YNAB. Available in free and paid tiers, the service stands out for its use of friendly, everyday language for guiding you through the process of setting up a budget.
EveryDollar Budget is easy to read and follow. You can see where every dollar of your income goes, which makes it helpful when trying to find ways to save. The workflow is intuitive and logical, making it simple to follow each step in the budgeting process.
The paid tier includes access to other Ramsey+ services, which can be helpful if you’re trying to get a holistic view of your financial situation. However, the free version is very limited, and the paid version is pricier than most. Additionally, the interface between EveryDollar and Ramsey+ can be confusing.
Overall, EveryDollar is a great budgeting tool for those who are looking for an easy-to-use interface and clear visuals.
Fudget – Best For Planning
Fudget is for budgeters who don’t want to sync their financial accounts and prefer a straightforward interface over fancy features. In Fudget’s ultra-simple design, you make lists of incoming and outgoing money and track your balances. There aren’t even any budget categories.
The Pro account allows you to also export your budget, along with other extras. Fudget is free to use, with a one-time purchase of $3.99 to upgrade to Fudget Pro. It has an Apple store rating of 4.8 and a Google Play rating of 4.6.
Honeydue – Best for couples
Honeydue is one of the best budgeting apps for couples because it offers transparency and flexibility. Both partners can sync their bank accounts, credit cards, loans, and investments to the app, though they can choose how much information to share with each other. This allows for a clear financial picture for both partners.
Honeydue also automatically categorizes expenses, making it easier to track spending. While the app does lean more toward reflection and learning from past transactions rather than planning ahead for future expenses, it is still a helpful tool for couples who want to be on the same page financially.
Plus, it doesn’t hurt that the app is free to use. Honeydue has high ratings among users, with an average of 4.5 stars on the Apple store and 4.0 stars on Google Play.
PocketGuard – Best for over-spenders
PocketGuard is a free, basic budgeting app that syncs with your bank to give you a clear picture of your cash flow. It’s easy to use and helps curb overspending by setting spending limits for each day.
PocketGuard Plus, the paid version of the app, costs $7.99 per month, $34.99 annually, or $79.99 for a one-time, lifetime subscription. It offers more features than the free version, including bill pay reminders and support for multiple devices. PocketGuard has excellent reviews from users who appreciate its simplicity and helpfulness in taking control of their finances.
However, some users have had technical issues with the app and there is no phone support. Overall, PocketGuard is a great budgeting tool for anyone who wants to get a better handle on their spending.
Zeta – Best for shared budgets
If you and your partner are looking for a free budgeting app that will help you keep track of your finances and manage your money together, Zeta is a great option.
You can sync various accounts to the app, including bank accounts, credit cards, and investment accounts. You’ll be able to see your net worth, track spending, and manage bills together.
Plus, you can sign up for a no-fee joint bank account with features like contactless payments and bill pay.
The only downside is that the interest rate on the joint account is relatively low.
But overall, Zeta is a helpful tool for couples who want to stay on top of their finances.
What Are Budgeting Apps?
There are numerous budgeting apps available to users, and the features offered by each app vary. However, most budgeting apps have some core features in common.
For example, most budgeting apps allow users to track their income, expenses, and savings. This data can be used to generate reports that offer insights into your spending habits.
Budgeting apps may also offer a debt payoff trackers and investment calculators to help you improve your financial health. By understanding where your money is going, you can make better-informed decisions about your spending and saving habits.
As a result, budgeting apps can be a valuable tool for anyone who wants to get a handle on their finances.
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Types of budget apps
There are several types of budgeting apps which include free, paid, expense-tracking, zero-sum, for couples, investment/retirement planning, those that require manual entry, and those that sync with your financial accounts.
- Free budgeting apps – Offer basic features such as income, expense, and savings tracking. Some free budgeting apps also offer more advanced features such as the ability to sync with your financial accounts or create a Debt Payoff Plan.
- Paid budgeting apps – Usually offer more features than free ones, such as the ability to export your budget, debt payoff tracker, investment calculators, and more.
- Manual entry budgeting apps – They usually have a more simplistic design and don’t offer as many features as the other type. However, they can be helpful in developing a better understanding of where your money goes each month.
- Sync with financial accounts – These apps automatically update and categorize your transactions. This can be helpful if you want a more hands-off approach to budgeting or if you have trouble manually tracking your expenses.
- Expense-tracking apps – They track and categorize your spending so you can see where your money is going. This information can be helpful in creating a budget or adjusting your spending habits.
- Zero-sum budgeting apps -They give every dollar a job and help you stay on track with your financial goals. These apps are often more complex, but they can be helpful for people who want to get a better handle on their finances.
- Couples budgeting apps – They offer transparency and flexibility by allowing both partners to sync their financial accounts, credit cards, loans, and investments to the app. This type of app is ideal for couples who want to be on the same page financially.
- Investment/retirement planning budgeting apps – Help you track your investment portfolio and assess your risk tolerance. These apps are designed for people who want to grow their wealth over time and plan for retirement.
How budget apps can help your finances?
Budgeting apps can help you in a number of ways, including:
- Tracking your income, expenses, and savings
- Generating reports to offer insights into your spending habits
- Offering debt payoff tracker and investment calculators to help you improve your financial health
- Helping you understand where your money is going
- Making better-informed decisions about your spending and saving habits
- Providing a valuable tool for anyone who wants to get a handle on their finances.
Are budgeting apps safe?
Budgeting apps are generally safe to use. They typically have high-security standards, including encryption and authentication measures. If you’re concerned about the safety of a particular budgeting app, you can look for a security page on its website. This page should provide information about the app’s safety features. Generally speaking, budgeting apps are a safe and convenient way to manage your finances.
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Should I Pay or Use a Free Budgeting App?
There are a few things to consider when deciding whether to pay for a budgeting app or use a free one. The biggest factor is how committed you are to making changes to your spending habits. If you’re not sure you’ll stick with it, a free app may be the best option. However, if you’re confident you can stick to your budget, a paid app could be worth the investment.
Another thing to consider is the features offered by each type of app. Free apps tend to have fewer features than paid ones, so you may have to compromise on some functionality. However, paid apps often come with extras like customer support and exclusive discounts.
Ultimately, the decision of whether to pay for a budgeting app or use a free one comes down to personal preference. Consider your needs and decide what’s best for you.
What Features Should I Look For in Budgeting App?
The most important thing is that it syncs with your bank account. This way, the app can automatically track your spending and income. Many budgeting apps also let you categorize your expenses, so you can see where you’re spending the most money.
Some budgeting apps also offer features like automated savings, suggestions to save money, bill alerts, access to credit scores, and investing features. If you’re looking for an app with a savings component, make sure the account is FDIC-insured. You may also want to consider the account’s APY and how it compares to other accounts. By taking these factors into consideration, you can find an app that fits your needs and helps you save money.
In order to help people save money, there are many different budgeting apps on the market. However, with so many options it can be difficult to decide which app is best for you.
To make this decision easier, we have compared 15 of the best budgeting apps and found the top picks. These picks offer great budgeting functionality, pricing, and user reviews. So whether you are looking for an app that tracks your spending or one that helps you plan your finances, we have a recommendation for you.
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