PocketGuard helps you track your spending while syncing with your bank accounts, providing an overall picture of your finances. It is simple to use and best when tracking your income, savings, and expenses.
It also helps you analyze your spending, looking for ways to cut on some expenses or find better deals so that you can save more.
PocketGuard is free and compatible with your phone or Apple Watch. You can also choose the paid version.
- You Need A Budget
YNAB is at the top of our list because it allows you to sync your bank, import data files, and manually enter each transaction. Before getting on board with the app, you should familiarize yourself with the app using the videos provided, reading the guide, or attending live workshops.
Rather than tracking your spending, YNAB allows you to create a budget and assign every penny a purpose, such as auto loans, rent, and bills. YNAB aims to plan ahead. It is a paid budgeting app with a 34-day trial period.
Goodbudget operates on an envelope system, where you can apportion your income into several envelopes in specific categories. The app then keeps track of how much remains in each envelope.
The downside of this app is that it does not link to your bank. Therefore, you must enter details manually.
There is a free and paid version. Goodbudget plus goes for $6 per month or $50 yearly and allows you to create an unlimited number of envelopes and sync to a maximum of 5 devices. Thus best for couples or families.
Trim helps you analyze your budget and identify areas where you can reduce your spending and save. It also helps analyze your bills such as cable, WiFi, and phone by looking for alternatives with a lower price.
It is free to use, but if you apply the bill negotiation features, you will be required to pay 33% of what saves you at the end of the year.
Trim premium also goes for $99 per year with additional features such as Medical bill & credit card negotiations and unlimited access to a financial consultant via email.
Zeta is ideal for couples as it helps merge all your personal and shared finances in a single place. It also allows you privacy on certain financial details, hiding them from your significant other. Thus perfect for couples who have joint or separate accounts.
The app sends you alerts for money dates, where you sit with your partner and discuss your finances while setting your budget. Zeta is free to download and use.
Wally is popular among millennials as it doesn’t have complicated budgeting tools. Best for young people who want to start getting a hand on their finances. The upside is nearly compatible with all currencies, so best for freelancers and digital nomads.
It is free to use.
- Personal Capital
Personal Capital allows you to track your spending, create a budget, and sync your bank to get a view of your finances. It is free to use, but you can add investment management services for a fee.
The upside of using Personal Capital is that it has retirement planning software, helps you plan for your education, and analyzes your portfolio.
Read Also: Investing for Retirement
Smartypig is best for several savings goals such as emergency funds, retirement, and vacation. It is challenging to save for multiple items through your bank as it is cumbersome to open and manage several accounts.
SmartyPig operates more like a piggy bank the kids get from the bank, but an online one. It allows you to categorize your savings, making it easy to achieve multiple goals.
SmartyPig will enable you to set automatic transfers from your checking account. Although it is free to open an account, you will be required to pay an interest of 1.60% on your annual holdings.
With SmartyPig, you can set a due date for your savings, and the app will recommend how much you need to save each week or month. You can also have your family donate to any particular fund, enabling you to meet your goals fast.
Simplifi is a great budgeting app as it allows you to link your bank, track your expenses, and categorize your expenses. It is easy to understand and notifies you when you hit your spending limit. Simplifi is a paid app with a 30-day trial period.
Get a budgeting app to make your journey to financial stability smooth. With an excellent budgeting app, you can kick your bad spending habits as you will be forced to stay within the confines of your spending plan.
Choose a budgeting app among the 10 discussed above and ensure that you can use it with ease and accommodate all your needs.