What if I told you it’s possible to track your money without writing down every single transaction on paper? Say goodbye to being overwhelmed by the number of budget apps and hello to this simple budget app guide.
There are so many budget apps on the market right now that it can be truly overwhelming. And majority of us are guilty of trying a new budget spreadsheet and not being able to keep up with it
If this is you, know that you aren’t alone!
Good news is that by the end of this simple guide to personal finance you will be introduced to 4 money-saving-easy to use budget apps.
How much do they cost?
How do you choose the best app for your money situation?
Read on for the answers to all of these questions and more!
Budget Apps 101
What is a budget?
A budget is a way to assign a job to every dollar you make. If you haven’t built a budget, check out my guide to building your first budget here.
What is a budget app?
A budget app is a web or mobile app designed to help you build and manage your budget.
These apps can give you a clear picture of your income and spending, while helping you reach your savings goals.
How do they work?
This depends on your app.
Some apps connect to your bank accounts and credit cards to track every transaction you make automatically and allow you to insert cash transactions by hand.
Other apps require you to input each transaction manually.
If most of your spending is on credit or debit cards, I highly recommend using an automatic tracking app.
Can they really help me get my finances under control?
Absolutely- but you still need to put in some work to get there!
Let’s check out some of the best budget apps on the market.
Best Budget App for Beginners: EveryDollar
If you are a beginner budgeter or you’ve stepped on the Dave Ramsey Baby Step train, EveryDollar is for you.
Within 10 minutes of signing up via the EveryDollar website or app, you can have a budget built and ready to go.
All you need to do is put in the amount of money you expect to be paid for the entire month.
After that, EveryDollar uses a customizable template to help you plan all of your expenses for the rest of the month.
Each time you spend money, you simply log a transaction in the app to keep track of your budget.
EveryDollar focuses on your budget and your budget only, keeping you focused on one goal at a time.
If this sounds great BUT you really want to sync your bank accounts, EveryDollar offers a paid version for $99/year.
Best for Zero-Based Budgeting: YNAB
If you have decided that zero-based budgeting is the way to reach your financial goals, YNAB is for you.
You Need a Budget (or YNAB, for short) is a straightforward budget solution that helps you manage your finances quickly and easily.
YNAB offers the ability to connect to your bank and credit card companies for easy transaction tracking, similar to Mint.
Thanks to its organized platform, YNAB makes it easy to compare between months, track rollover funds from the previous month, and the amount you’ve spent to date.