If not, maybe a personal finance app is all you need to start budgeting better and saving smarter. At the start of the year, most of us have New Year’s resolutions and financial goals are usually high on the list. A step to turning those goals into a reality can easily start with a simple budgeting app.
So, here’s some motivation to get you started—people who track their spending are more likely to achieve their financial goals. Also, many people using budgeting apps reported saving more money after just six months of using them.
The good thing is that today’s personal finance apps are friendly and well-designed, so they are not traditional spreadsheets and calculators. They offer insights and colorful charts and you can easily track your spending patterns.
Having an income is one thing, but planning your budget around bills, savings, mortgages, vacations, and entertainment is another. Yes, budgeting also involves money for your social hangouts and entertainment, after all, you need some reward for the effort you’ve been putting in. Whether buying yourself the latest gaming console, brunch with friends, or planning a short vacay, you need to add it to your budget.
If your go-to leisure activity is something like casino gaming, it just means you need to budget better. Real money casinos require cash to enjoy games, but with the right budget, the fun doesn’t have to stop. Your thrilling slot games or blackjack titles will be well catered for with the perfect finance plan.
With dozens of personal finance apps available, we scouted the internet to find the best ones for you that match your goals. The apps below are highly rated and offer more than what a basic budgeting app provides.
1. NerdWallet | Best Free Budgeting App
For those new to planning their finances via an app, NerdWallet is an excellent starting point. The app is free, unlike several other budgeting apps that require a subscription, and has all the right features to get your finances on track.
NerdWallet will help you track your spending across various accounts, assess your net worth, and analyze your cash flow. On top of that, you’ll get a real-time update on your credit score with alerts on any changes. If you’re looking to save money, going for a free app with no intrusive ads is the first right step.
2. YNAB | Best for A Determined Budgeter
If this is not your first rodeo with budgeting apps and you are looking for an app with more functionality, the You Need A Budget (YNAB) app will make a good choice. The platform uses a zero-based budgeting system where every dollar is accounted for and has a “job.” Whether it’s paying bills, sorting out a student loan, or investing, every dollar earned serves a purpose.
YNAB is not the easiest app for beginners because it requires dedication and diligence to learn how it works as it takes you on a journey of financial responsibility. Its website provides learning resources that will guide you on how to budget and use the app. For YNAB, the goal is to get you to be intentional with your money.
3. PocketGuard | Best for Over Spenders
Getting your budgeting right can be hard at times, with the many wants we normally have like that Netflix subscription, that nice home accessory you saw on Amazon, or that place you added to your must-visit list. That’s why you have PocketGuard, an app that plans for “what’s in your pocket”.
PocketGuard is the best app if you find yourself spending a little bit too much on things. The app organizes your finances into spending categories and notifies you when you’re close to reaching your limit or going over your budget. The alerts will update you on how much you can afford to spend.
The app is trusted by over half a million users and will help you track your budgets and debt and keep tabs on your net worth. What you’ll love most about PocketGuard is the simple and creative dashboard that is eye-catching thanks to colorful visual elements.
4. Empower Personal Wealth | Best for Investors
If your financial needs are more inclined towards investing, then Empower Personal Wealth is the best app for you. The company was initially known as Personal Capital and your wealth creation journey can easily start here. With investment tracking tools like a withdrawal planner, a personalized Investment Checkup, and a Retirement Fee analyzer, this app will track your portfolio seamlessly.
The premium version comes with advisory services if you want guidance on investing. As you monitor your savings and credit card accounts, mortgages, loans, or 401(k)s, Empower Personal Wealth will also track your budget and spending, so you’ll be killing two birds with one stone.
5. Honeydue | Best Budgeting App for Couples
Lastly, if you want to track your spending and budget with your significant other, Honeydue will have you on the same financial page. You are free to include what you feel comfortable sharing such as your bank accounts, credit cards, investments, or loans. Your partner will be able to view this information and you can plan your finances together.
Honeydue is a free app and you can easily download it from the App Store or Google Play Store. Couples can coordinate bills and split expenses using the app, with alerts appearing whenever either of you are close to hitting the set limits for each spending category. It’s also really cool that you can chat and share emojis on the app as well as get reminders for upcoming bills.
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