Finding the time to keep your finances on track can be difficult. From ensuring your bills are paid to saving for retirement, it is easy to become overwhelmed with money. Thankfully, several free budgeting apps can help you keep track of your spending and help you save. We ate a look at the 12 best money-saving and budgeting apps here:
Rocket Money
Rocket Money is a straightforward budgeting app that is easy for people of all ages to use. This app automatically tracks your spending across various accounts, categorizing transactions to help you create budgets. Rocket Money also provides insights into your overall financial health by sending bill pay reminders, and you can set targets on different aspects of spending, such as eating out, home improvements, and entertainment.
YNAB
The YNAB app takes a unique approach to budgeting by encouraging you to assign all of your money to a specific purpose, such as bills, entertainment, savings accounts, and bonds. It promotes proactive budgeting so you don’t stress in between paychecks. You can enjoy a free trial to see if this approach works for you, and then there is a monthly subscription.
PocketGuard
This app provides a clear snapshot of your finances, displaying your income and bills as a pie chart to show how you’re spending. It also offers helpful features like bill tracking and subscription management to ensure you’re not paying for things you don’t use.
Honeydue
Honeydue is a unique app designed for couples or roommates. It allows you to connect your financial accounts and track spending together so that you all pay an agreed amount of money and can see how you still need to contribute to bills, for example. It fosters communication about money matters and simplifies shared budgeting.
Personal Capital
This app offers excellent tools for managing your finances, including budgeting and expense tracking, investment portfolio tracking, and net worth monitoring. Personal Capital is aimed at experienced users as it offers a comprehensive solution for financially savvy individuals.
EveryDollar
EveryDollar is based on the principles of Dave Ramsey’s zero-based budgeting approach. This means you allocate every dollar you earn towards specific spending categories or savings goals, aiming to end each month with zero left over.
Mvelopes
Like EveryDollar, Mvelopes uses a digital envelope system for monthly and long-term budgeting. You allocate funds to different spending categories, which helps you visualize your budget and avoid overspending or undersaving.
Goodbudget
Goodbudget lets you create virtual wallets to track your spending like you would with different bank accounts in your online app. The app has a user-friendly interface and is excellent for those who prefer a visual approach to managing their money.
Wally
The Wally app focuses on expense tracking and categorization so that you could have a category for grocery shopping and one for energy bills, for example. Wally helps you understand where your money goes and identify areas where you can cut back, for instance, how much you spend on take-outs each month. It uses a receipt-scanning feature to automate expense logging, making you accountable for
Zeta
This budgeting app caters to freelancers and gig workers as it helps manage irregular income streams, track project expenses, and create invoices. Zeta is a valuable tool for those with non-traditional income sources who find managing their budget difficult for quieter months.
Monarch Money ((Android & iOS)
Monarch uses a similar approach to YNAB, where you allocate funds to your spending categories, but it streamlines the process to get you started faster. The app is very goal-oriented, creating a dedicated “bucket” for each goal. It calculates how much you need to contribute monthly and displays it prominently on your home screen, keeping you motivated.
Empower ((Android & iOS)
Empower is an app that goes beyond budgeting and spending tracking. It also allows you to manage your investment accounts in a user-friendly platform, making it an excellent option for retirement savings. Whether you’re a seasoned investor or starting, you can actively manage your investments alongside your everyday finances.
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