Budgeting keeps you on the right track and helps you know the amount of money that enters and exits your household.
Did you know that budgeting apps can make your work easier? Instead of entering your work manually, most of them automate the process, thus making it effective instead of using paper and pen.
Many budgeting apps have been developed over time. A budgeting app should be affordable, easy to use, and safe. It can also help you on how to survive the high cost of living in 2022, if you use it well.
Here are the ten best budgeting apps that you can use to simplify your financial decisions.
1. Mint
This is a product of Intuit company. Available in both the app store and google play, it is free to download.
It is also compatible with iOS, Android, and web browsers. The app is highly rated in both Google Play and Apple Store.
Pros
Categorizes all your expenses, and will help you know when you are approaching your limit.
Easy to set up.
Helps you access your credit score.
Safe, as it employs the latest technology.
It reminds you when your bills are due.
Cons
If you want to be hands-on with your budget, then this is not ideal for you.
It has ads and offers that keep popping up.
Rating
Apple Store- 4.8
Google Play- 4.5
2. YNAB (You Need a Budget)
This is an award-winning budgeting app.It is accessible on both mobile and desktop. It is not free, but you are given a 34-day trial period.
Pros
Helps you plan many months in advance.
Helps to sync your bank account, credit card, and loans. The app helps you plan for every dollar earned.
No ads and doesn’t offer links.
Cons
It is expensive
You need to get hands-on, the process is not automated.
3. Google budget for hands-on envelope budgeting
This budgeting app uses the envelope system, where you portion or divide your monthly income in different envelopes.
This does not sync or link to your bank accounts, you connect them manually. It is easily accessible from the phone or web.
Pros
Plans for your finances
You do not need to carry physical envelopes; it provides envelopes.
It has educational materials.
It is free
Cons
You have to enter your account details manually.
Rating
Apple Store 4.7
Google Play 4.5
4. Every dollar for simpler zero-based budgeting
This budgeting app was developed by Dave Ramsey. It budgets for every dollar you make and balances your budget to zero every month.
Pros
Allocate your money to savings and bills.
It is simple.
Free, but you can pay to access extra features.
It has reminders for bill payments.
Cons
The free version has very few features, but the Ramsey version is very expensive.
Their website had very few resources to help one better learn about the app.
Rating
Google Play- 4.2
Apple store- 4.2
5. Simplifi by Quicken
This is a product of Quicken. It has been around for a while. It has a 30-day free trial and after that, you pay 3.99 dollars a month.
Pros
Will give you an alert when spending reaches a certain limit.
You can link your bank account, credit card, and loan.
You can make a watchlist for monitoring
Safe
Cons
Not free.
No credit score
Rating
Apple store - 4.2
Google Play- 3.4
6. Personal Capital
This is a great budgeting app for investors. It is available on both Google Play and App Store. It helps track your spending and wealth (investment).
Pros
It is free
Easy to use
Safe, there is data encryption
Helps track your spending
It has saving tools to help you in building your retirement, savings, emergency fund, and payment of debts.
You can sync your bank accounts, credit cards, and loans.
Cons
You will have to pay for wealth investment management services.
Rating
Apple Store- 4.7
Google Play- 4.3
7.Pocket Guard
There is a free and premium version that costs 34.99 dollars. It’s available on both Google Play and App Store.
Pros
Able to show you your income, expenses, and savings.
It can be synced with your bank account and credit cards.
It is safe
It has an autosave feature, which helps with saving
It shows you how much you spend in a day.
Offers free tools, like educational and retirement planners.
Cons
The premium version is expensive
The app’s website is not friendly to newbies
Rating
Google Rating - 4.7
Apple store - 3.7
8. Honeydue
This is a budgeting application for couples. It is available on iOS and Google Play. It links your account and that of your partner.
Pros
It is safe.
Couples can manage their money and investments together.
Gives a platform for partners to chat within the app.
Creates transparency among couples
Alerts one partner when the other is approaching a limit.
Cons
The app has got no desktop version.
Rating
App Store- 4.5
Google Play- 4.1
9. Digit
This budgeting app is available on both Google Play and the app store. It has a 30-day free trial and then you pay 5 dollars a month.
It helps you create money-saving buckets.
Pros
It has automated saving and investing
The savings account is insured.
It is easy to use.
Cons
The free version is only available for 30 days.
Rating
Apple store- 4.7
Google Play - 4.5.
10 Stash
This budgeting app helps in your spending and setting your saving goals. It is available on both iOS and Android. It gives you access to many budgeting tools such as round-up and automatic saving.
Has a debit card that will earn you stock if you use it to pay your bills.
Pros
Quite affordable as subscriptions start from one dollar a month.
Has investing options for all consumers.
Cons
No free version.
Rating
Apple store- 4.7
Google Play- 4.0
Bottom line
A budgeting app is a must for you. It will help you stick to your budget and help in saving and investment. Some apps charge a fee, but in the end, they are worth it.
Before you choose a budgeting app, keep these into consideration; fee, features, security, and customer service.
Great analysis there 👍
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