Whether it is a full-featured app, a tricked-out worksheet, or something you do by hand, the best budget tool for you is the one you use. Below is a list of the ten best planning apps to help you find the right one.

One of the best free planning apps in the past was Mint, but you can not get it anymore, so it is not on this list.

We looked at the top 7 planning apps to find the best ones to track your spending, saving, and budget.

Affordable Apps to Keep Your Budget in Check 2024

YNAB (You Need A Budget): Best for Setting Goals

CountAbout:  Best for Sole Proprietors and Freelancers

Cost: Standard is $9.99/year and Premium is $39.99 per year after 45-day trial

Pros:

• 45-day free trial
• Invoicing features for sole proprietors and freelancers
• Can import data from Quicken and Mint
• Auto-sync transactions from banks and credit cards (Premium plan only)

Cons:

• No free plan
• Less modern interface
• Receipt uploading and invoicing cost extra

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Empower Personal Dashboard™: Best for Tracking Net Worth

Monarch Money: Best for Replacing Mint

Goodbudget: Best for Envelope Budgeting

Pros:

Every Dollar: Best for Getting Out of Debt

Cost: Free version; Premium is $17.99/month or $79.99/year after the 14-day trial

Pros:

Here is how much weight was given to each category:

The grade for mobile apps on the App Store and Google Play is 35%.

• Cost: 25%
• 15% encryption and security
• 10% of accounts can be integrated.
• 10% of the website version is present
• 5% of people can share.

As you might expect, budgeting apps with more reviews and better overall ratings were higher on our list. Free budgeting apps were also higher. We also gave extra weight to mobile apps that had strong security features, such as biometric authentication, multifactor authentication, and encryption.

We put apps that let you connect an endless number of accounts at the top of our list. So did apps that have a website version and let you share with family or friends.

Why is making a budget important?

Multiple studies show that more than half of Americans live from paycheck to paycheck. Making a budget is an important way to help people get out of financial trouble and into financial stability. Costs of living and health care have gone up quickly in the U.S. over the last 30 years, making it harder to save money for retirement and savings.

Not having a budget or financial plan can be stressful and overwhelming, which can cause you to spend more than you can afford, which can keep you stuck in destructive loops. But as part of being mindful about money in general, having a solid budget can make a big difference. It can help you reach your financial goals, lower your stress and anxiety, and make your life better in general.

How to Make a Budget

An important part of making and sticking to a monthly budget is keeping track of how much money you make and spend. You should make more money than you spend, and you should have some extra money each month to save for retirement and savings. You should make a budget if your balance is not where you want it to be.

What is an app for making a budget?

Setting a budget starts with writing down your financial goals and keeping track of how much you spend and save each month. When you know exactly how much money you are making and spending, you are better prepared for the bad and good things that happen with money.

It is important how you think about handling your money. Making a budget is one of the most important things you can do to get control of your money. Personal budgets can be hard to get used to at first. It might take a few rounds for your habits to change. And the right app can help you change bad money habits.

A planning app helps you make the best decisions every month about how much to spend and how much to save. By putting all of your financial plans and goals in one place, a planning app can help you see your choices and habits more clearly.

In the same way that you might use apps from your bank or credit union, a planning app might let you set financial goals and keep track of your cash flow across multiple accounts. Apps for budgeting can connect to your bank and credit card accounts to give you a full picture of your money.

There are different types of budgeting apps. Some focus on a specific type of budgeting, like pocket budgeting or zero-based budgeting. Others cover budgeting in a more general way, letting you make changes based on your needs. A budgeting app with all the features you need can help you keep track of your spending, handle regular bill payments, set savings goals, and keep track of your monthly cash flow.

What are the pros and cons of budgeting apps?

Pros:

• It syncs. A lot of budgeting apps let you connect various accounts so you can see all of your money in one place.
• Setting goals. Many budgeting apps make it easy to set many financial goals and track your progress toward them. Some examples are a trip or a down payment on a house.
• Easy access. You can easily access apps on your phone or computer to keep track of your spending and check in on your budget while you are on the go.
• In automation. You can make and handle your budget without having to do as much work with apps. You can save time and effort compared to planning by hand.

Cons:

• Limits on the device. It is not always possible to get planning apps for your computer. Even if they are, they might not be as easy to use as the mobile versions.
• Costs. If an app does not charge a monthly fee or a registration fee, it may have ads inside the app that try to sell you something.

How to Pick a Payment Plan App

When compared to other choices you have to make about your money, choosing a planning app may seem like a small one. If you choose the right planning app, it can help you with your money.

Before you choose a planning app, you should think about what you want and need. If you choose the right planning app, it can give you useful information about your spending and savings. But before you do that, writing down your financial goals can help you narrow down your choices of spending apps.

Before you choose a planning app, here are some things you should think about besides your goals:

Costs. There are different prices for budgeting tools. Some budgeting apps cost money every month, but a lot of them are free or have free options. It might be easy to pick a free app but do not forget about the paid ones. If a planning app can make a big difference in how you handle your money, it might be worth the money.

Specifics. Many apps are good, but some are better than others. It might be smart to try several to find the best one for your needs. If you have used a mobile banking app before, you already know what functions you want. The best planning apps usually let you connect all of your financial accounts, get alerts when bill payments are due, make a budget, track your credit score, keep track of your spending, set financial goals, and more.

Keep safe. Keeping your personal information safe is very important, especially when it comes to banking information and logins. There is some amount of security in most budgeting apps, but some are better than others. To make sure your apps are safe, check out how encrypted they are. Their websites may have safety features like 256-bit encryption and multiple-factorrification. Along with using a secure Wi-Fi network, these tools will make it harder for hackers to get to your data.

Helping customers. Having a professional team you can contact can be helpful if you have a problem with a budgeting app. Make sure you know what customer service choices are available from both the app and the desktop version of the budgeting app before you choose it. You might also find it helpful to read reviews of the app you are thinking about using.

Other Apps Besides Budgeting Apps

You do not have to use budgeting apps to keep track of your spending and handle your money. You might want to try these instead of planning apps.

Software for budgeting

Mobile apps are great for making daily budgets, but if you want a more complete way to handle your money, you might want to try software instead. Software like QuickBooks or Quicken can do more than just make budgets. For example, they can integrate with tax software and help you handle your payments. However, these extra tools usually cost more than mobile apps, so think about how much you can spend.

Budgeting with Spreadsheets

This method is great for people who need something more hands-on than planning apps because spreadsheet budgets can be changed in many ways. You can keep track of your income and spending on a spreadsheet. It also lets you see where your money goes every week or month. People often choose Excel and Google Sheets.

If you use a spreadsheet to make your budget, the 50/30/20 method works well because you can divide your expenses, extra spending, and savings into categories on the sheet and assign specific expenses to each area. You can use our 50/30/20 spending calculator to get started.

Tracking apps for expenses

Some people may not need to make a specific budget or may think it is too complicated. If this is true, keeping track of how much you spend might be a good place to begin. You can use an app or look at your bank or credit card records every so often to do this.

Apps that track your spending, like Mint, show you a quick picture of your spending by type. Mint can help you make a budget, but you can also just use it to connect all of your bank accounts and get a better picture of what you have been doing.

Envelope budgeting with cash

If you do not like using apps on your phone, you might like making budgets by hand. A budget that you make without using technology is a good way to keep track of how much you spend. Cash stuffing, also known as envelope budgeting, is a tried-and-true way to see how your budget is working. It can be done by hand.

You will put parts of your paycheck into boxes when you get paid. Each package will be used for a different type of expense, like rent, food, or gas. You have to use every bit of your paycheck for something and not spend more than what is in your envelopes.

Is it worth it to use budgeting apps?

That is right, planning apps are useful if you know what your money goals are and use the right app to reach them. Some planning apps have reportedly helped users save tens of thousands of dollars just in the first year. By keeping track of people’s spending and cash flow, they can also help them make smarter decisions.

Apps for budgeting are a great way to make sure you stick to your budget, not just make plans for it. They can help you figure out where your money is going and how you can save it by showing you how you spend it.

The way you use it is a big part of whether or not an app is “worth it.” As with any budgeting method—an app, a spreadsheet, or more traditional pen and paper—it can be hard to stick to it and make financial choices that are in line with it. A lot of people find that the automation and interaction that a budgeting app offers keep them inspired to keep track of their money.