Building Your Budget? There’s an App for That!

Whether you’re trying to save up a large sum of money to put a down payment on a home, or you’re just looking for ways to cut back on the amount of money that you’re spending every month, you’re going to need a budget.

Creating a budget isn’t just about saving money, though. It also helps you look at areas where you may be wasting money that you had never considered before.

No matter how financially responsible you consider yourself to be, you’re probably wasting money somewhere. Fortunately, making a budget and sticking to it is much easier than you may think.

One of the greatest benefits of living in the digital age is that there are multiple budgeting apps out there that can help you make a budget and stay on it. Today, learn more about the best budgeting apps and how they can help you transform your finances.

YNAB

YNAB, which stands for You Need a Budget, is built around the idea of letting users plan ahead with their money instead of relying on spur-of-the-moment purchases.

While there are plenty of ways to plan ahead with your money, YNAB relies on the zero-based budgeting system, which means that every dollar you make has a purpose.

When you input your paycheck information into the YNAB app, it will create a plan for every dollar. Unlike some other zero-based systems, YNAB also makes plans for savings, which ensures that you’re tucking money back, whether it’s for a vacation, retirement, or an emergency fund.

Additionally, YNAB doesn’t just function as a standalone app.

Since this method requires users to take a more hands-on approach than some of the other budgeting apps that we’re going to look at, the YNAB website offers loads of educational and training resources, including detailed budgeting tips.

With an average Apple Store rating of 4.8 out of 5 and a Google Play rating of 4.6 out of 5, YNAB is one of the best budgeting apps on the market.

There are two payment options for YNAB users. You can either pay $14.99 per month or $99 for the entire year.

Empower

One of the most important budgeting tips that most experts recommend is to look at your financial picture as a whole when you’re trying to establish a budget.

That’s exactly what Empower allows you to do. In addition to the “normal” budget app features, such as budget creation, savings, and more, Empower also lets you view your mortgage investments, 401(k), and other important aspects.

Empower is also largely customizable and allows you to set up different spending categories by date, merchant, and general category.

To make things even more appealing, Empower is completely free, making it one of the best budgeting apps that you can find.

With an average user rating of 4.4 out of 5, you can rest assured that you’re getting a quality app that can help you shape your financial future.

Rocket Money

The Rocket Money app is one of the strongest budgeting apps on the market. The app allows you to set up a profile that syncs to your bank accounts that other apps use, including your banking apps, and get a better understanding of your spending.

Not only does the Rocket Money app track your spending habits automatically, but it also breaks them up into different categories to provide a more streamlined insight into where your money is going.

The app itself is free to use, which is incredible for the wide array of services that it provides. However, there are additional features, such as bill negotiation, that you can opt into.

These extra features cost anywhere between $6 and $12. If your mortgage is through Rocket Money, these premium features are free.

Goodbudget

The only real drawback of Goodbudget is that it doesn’t automatically sync to your bank accounts that you have connected to your phone.

However, you can manually input your banking information to ensure that you have access to the information that you need for building your budget.

The Goodbudget app is built around planning more than tracking. If you’ve been researching different budgeting tips and techniques, you may have heard of the envelope method.

At its core, this method involves putting your money in different envelopes, each of which is assigned a certain role in your monthly spending. On the app, you can assign the money that’s in your bank account to digital envelopes, which allows you to track where the money is going.

There is a free version of the app that provides a limited number of envelopes, or you can opt for Goodbudget Plus, which offers limitless digital envelopes for $10 per month or $80 per year.

EveryDollar

If you’ve been researching budgeting methods and debt repayment ideas, you’ve probably heard of Dave Ramsey, one of the leading names in personal finance.

Thanks to his numerous books, syndicated radio show, podcast, and more, Ramsey is one of the most trusted figures in the field. His company, Ramsey Solutions, created the EveryDollar app to make it possible for listeners and readers to put Ramsey’s ideas into practice.

You will need to opt for the premium version of the app, which costs $17.99 per month or $79.99 per year, to link your bank accounts to the app.

However, you’ll also get access to a wealth of educational tools when you go that route. Additionally, the program usually works better when you use a computer instead of a phone.

EveryDollar puts Ramsey’s method of budgeting into practice by letting you assign every dollar that you make a purpose. Much like the envelope method, you’ll get to decide how much goes toward monthly bills, savings, debt repayment, and more.

If you’re a Dave Ramsey fan, it’s probably a no-brainer for you to choose the app that his company helped create.

Honeydue

If you’re married or have joint finances with a partner, Honeydue is an excellent option.

Both partners can sync their banking information, loans, investments, credit cards, and other important pieces of financial information on the app, allowing each of you to see what’s going on with your money.

The app automatically categorizes different types of costs, but you can also create custom categories that give you more control over your money.

The only real drawback of this app is that it focuses more on letting you see where your money has gone than letting you plan ahead for expenses, but once you get used to the interface, you can use the information to create a plan.

The app is free, which is great news for those who don’t want to spend money to manage their money. It’s worth noting that Apple users seem to like the app more, as it has a 4.5 out of 5 score on the App Store while Google Play users currently have it rated at 3.4 out of 5.

Best Budgeting Apps to Download Today

Technology has impacted the way that we do everything in life, from enjoying entertainment to paying bills.

Fortunately, there are plenty of budgeting apps out there that streamline the process of managing your money.

If you’re done trying to keep track of your expenses with a pen and paper, download one of these apps and start creating a better financial future for yourself.