In the world that we live in, smartphones go around with us everywhere in our pockets. These phones have made life so much easier for us to do everything using them – find directions, shop for things, stay connected with people, and so much more.
So, it wouldn’t be out of the ordinary to start budgeting through your smartphone, right?
There are many best budget apps for your phone that you can use to manage your finances. And while there are many of these apps available, we have sorted down the best budget apps out of these to tell you which one is the easiest to use.
Have you ever asked yourself why every month’s end is so difficult to drag with the cash available in your hand then? This is why budgeting is so important. We usually don’t understand where we spend our money because we haven’t kept track of it! Budgeting helps you do that.
However, do keep in mind that budgeting does not mean that you cannot enjoy your life any longer. It’s just a measure people take to understand exactly how much money you’d be receiving in a month and how much money you would be spending out of it too. All of this helps you ensure that you wouldn’t have to worry about the lack of cash in your pocket or your bank account every month.
Also, people sometimes uselessly keep spending on things they don’t even need. Budgeting helps you control that as well. You will also indulge in the habit of saving money for yourself and not spending all of it as soon as you receive your salary. This is a fact because, according to the 2019 Canadian Financial Capability Survey (CFCS), Canadians who have a habit of budgeting are more likely to spend the money that’s available within their limit.
Once you find out the best budget apps to download on your phone, you best believe that it’s going to help you begin saving and cut down on your spending too. You don’t even need to worry about using pen, paper, or calculators to budget your money – using an application instead will take the hard work out for you.
Once you go through the list of our best budget apps, you’ll know that it’s very straightforward to budget through them! Web-based and best budget apps are the real reason behind budgeting becoming easier for every person out there who simply wants to manage expenses. So, without further ado, let’s begin our list of the best budget apps one can find for their iPhone and Android phones!
An application that has more than 15 million users worldwide was obviously going to be on our list! Mint, being one of the best budget apps out there, is extremely easy to set up, taking only a few minutes of your precious time, and the user-friendly interface makes budgeting even easier if you’re just getting into it. Through Mint, you can manage all of your expenses and finances in just one place – the display of this application will include all of your information clearly and simply so that you don’t have any difficulty understanding data.
The application is made to track your expenses, so every time you log in to the application again, it’ll auto-sync and update your spending data. If you have any financial goals or plan to buy a car or a house for yourself, you can use Mint to track these goals. For example, you can get alerts if you’re late for paying some fee, and you can also get warnings if you overspend or purchase something expensive that your budget can’t afford.
You can also manage your investments through Mint – however, do keep in mind that the application will not make the investments directly for you. Mint can send you a weekly summary of everything so that you can check if you’ve missed anything or have forgotten to incorporate an expense as well.
If you’re interested in the application, you can download it on your iOS devices and Android. Simply search ‘Mint’ on the App Store or Play Store and install the application from there! Plus, the application is 100% free to use.
YNAB or You Need a Budget is easily one of the best budget apps that you can download on your phone. The pricing with YNAB starts at $6.99 per month, but the application is free for everyone for the first month or 34 days. Through YNAB, one can easily set up a budget and adhere to it while setting financial goals that they want to reach. You can use the application to track your spending and monitor your bank and investment accounts too!
The best thing about YNAB is that the application is very straightforward and simple to use; the interface is very interactive and easy to get the hang of, and this fact alone makes this application one of the best budget apps that you can find. To use the application, you can also auto-sync your accounts and manually import them too. YNAB is an application that tilts more towards educational software; the creators of YNAB built this application after adopting the idea that money management could lead to stress relief too!
YNAB is known for its excellent customer service, and most of the users have reported that their queries get answered within 24 hours of filing them. The developers are big on educating their consumers, and most of these services are for free. You can find many free videos, live courses, and multiple podcasts over financial topics and helping customers save money daily.
You can even schedule transactions in advance for expenses that take place regularly, for example, rent or mortgage payments. The application will also send you monthly reports to see just how close you are to achieving your financial goals! You can download the application on your iOS and Android devices.
If you’re looking for one of the best personal finance apps and the best budget apps that will help you save money and keep track of your expenses, Wally should be on the list. The application has a very skillful design and is used globally to fix their extravagant spending habits. Wally is free to use but is only available for iOS devices.
The dashboard of Wally will display multiple things for your convenience, including your total income, expenses, and discretionary income that’s left. All of these things will have to be entered by you manually. You can find balances for every individual account on the dashboard too! According to Wally’s website, the application was a top-rated finance app in 22 countries; it also accounts for most of the currencies starting from USD to Congolese franc.
There’s a tool in this application that comes in handy for people planning to save money: you can use this tool to set monetary targets according to a percentage of your income. Wally can also be a great application if you would like to have detailed records of every transaction that you make – the application would hold a very strong place in our list of best budget apps for offering these conveniences!
However, some of the users have complained that the application could be a bit difficult to get used to. It takes some time for them to understand the functionalities that this application has to offer – but once you get the hang of it, it’s conducive and will help anyone fix their spending routines!
Moka is an application that will connect straight to your online bank account, and whenever you make a credit or a debit purchase, the application will round that payment to the nearest dollar and deposit that in an account. As soon as you make an account at Moka, you will be asked to create a goal too. This goal is specific to helping you save money and will also provide the portfolio manager with an idea related to your saving habits – on our list of best budget apps, Moka would be the most professional one.
The application also has many partnered companies like Busbud, Matt & Nat, Norden, Foodora, and so much more. This will also give you an opportunity to get cashback perks whenever you buy something from the list of these companies. What’s the best part? The application features 256-bit encryption and follows ISO standards in order to ensure the customer that their data is not being visited by a third party.
Moka is 100% free to download on your iPhone or Android devices, but if you want to benefit from its portfolio manager, Tactex Asset Management, you will have to pay $3 a month in order to cover for TFSAs, RRSPs, and other costs that may be involved. Considering that many of the banks come with charges, Moka is offering quite a fair price for the service that they provide!
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In short, there are many other applications out there to help you practice budgeting, but the applications listed above are some of the best budget apps that you can find. Download them today and find out what’s so good about them – saving money has never been easier!
Budget apps get all the financial information it needs to provide you with reports that can help you budget your money wisely.
Budget apps can help you keep track of your money which can improve the way you save.
Yes. It can gather data from your finances and expenses which can show you how your money is being spent.
Some budget apps we recommend are:
2. You Need A Budget
Budget apps are very safe. They have encryption that prevents third parties from getting access to your account.