If you facing having trouble reining in your expenses and splurging on every pair of shoes, you are in dire need of a personal budget app to control your spending. It is an unhealthy habit and a little bit of financial discipline can mean great savings in the long run. While there are a number of different apps to help with money management that help you save more, it can be a little difficult to decide on the bets one.
However, we have done our best to sort out the best personal budgeting apps below, including some with honorable mentions, such as Digit, Personal Capital, and Simple. Here’s our list of the best personal budgeting apps to help you save more in the long run:
Mint is a new app from Intuit, a tech company that also developed QuickBooks and Turbotax. This app can help track your exchanges with several well-known banks, brokerages, and a whole list of financial institutions. They also have a budget page, that links to your credit or debit card as the case may be, to track your spending. The app will allow you to set a budget, and if you exceed that budget for the month or week, they will send you alerts telling you if you are exceeding your budgeted amount. You can also get an analysis of your spending and cash flow to track how and when you are spending your money.
2. Pocket Guard
As the name suggests, this app aims to keep you from spending too much. It can easily link to all your accounts and track your monthly income, bills, and various spending habits. The app also looks at what bills you are paying and makes suggestions about how you could save on them or pay them off faster. The app tracks your bills and checks if you are eligible for any deals or discounts to help you reduce spending. For example, monthly bills from internet, phone, and television subscriptions are analyzed to find a way to help you save more. It is very useful for paying down debt.
3. YNAB or ‘You Need a Budget’
YNAB is a unique app that has rightly gathered a cult following that lovingly refers to the app as YNAB. It does not work the same way as traditional budget apps do and instead asks more of the user. You can set up a budget and every dollar needs to have a job so you can literally track each and every dollar you spend. The app can also be synced to your bank accounts. It tracks how much personal debt you have paid off and encourages you to make and achieve financial goals. It has a great mobile and desktop interface and is often used by young couples working with joint budgets
Wally can be a little hard to navigate. However, the app is free of cost and works on budgeting exclusively. The app allows you to set your income and expenses and takes an overarching view of the whole picture and sends you alerts as you are coming up on your budget for the month. It is available on both iOS and Android app stores and has almost all the foreign currencies listed, so anyone outside the U.S. can use it as well.
This app lets you create various envelope budgets for all your expenses. It can link to all your financial accounts and lets you know if you are going over your spending limit for a particular envelope. At the end of the month, the envelopes reset and you can spend from them again. While the app is not free, it is very convenient for daily budgeting.