With the help of budgeting apps, you can save money and avoid overspending. You can also invest smarter and become more financially stable. Some budgeting apps provide advice on personal finance, and you can connect multiple accounts to see their balances and transactions in one place. These can help you save money and avoid paying hidden fees. Here are some budgeting apps for your smartphone. Read on to find out which is the best budgeting app for you.
YNAB: This free app helps you create a budget based on zero-based budget theory. It connects with your checking and savings accounts and automatically imports transactions into a database. It encourages you to assign jobs to every dollar to create a realistic budget. You can also see your transactions in real-time and set goals. The free version also includes ads, but it’s worth the cost if you’re committed to saving money.
Mint: Mint is the best personal finance app that helps you manage your finances and create a budget. Its simple interface makes it easy to create a budget and stick to it. You can even set alerts when you need to pay a bill or go over your budget. Using Mint to track your finances is a smart way to save money and stay on top of your spending. It’s also helpful for those who don’t have a bank account or want to track their finances.
Personal Capital offers free services and includes free credit monitoring from TransUnion. Mint also lets you link your financial accounts to it. Then, you can create a budget and track transactions from a single dashboard. Empower Retirement’s Personal Capital budgeting service is free and has a web-based and mobile app. Personal Capital is useful for top-level financial snapshots but doesn’t go as far as some of the other budgeting apps.
EveryDollar: Goodbudget brings the envelope budgeting system into the digital age. You can create budgets in just minutes. Moreover, the paid plan makes it easy to link your financial accounts. It also helps you monitor your progress by sending you alerts about spending trends and rising bills. However, if you are still using cash, Goodbudget may be better for you. All these features make Goodbudget an essential companion for your financial life.
Tiller: This budgeting app pulls transactions from your bank or credit card accounts and places them in a Google Sheet or a Microsoft Excel file. Its user interface is intuitive and makes it easy to enter expenses and monitor spending. It lets you create budgets for each category and compare actual spending with your budget. Moreover, you can create custom rules to auto-categorize imported transactions. Further, Tiller also allows you to create formulas and use them to categorize your bills.
Security: While budgeting apps have the same security standards as major financial institutions, you need to keep your personal information secure. Make sure you choose a reputable and best budgeting app, and follow good cybersecurity practices. For example, you should not reuse your password and keep the app updated. Another way to avoid being a victim of identity theft is to manually enter your data into your budget. If you’re unsure of using a budgeting app, you can always enter it manually.