5 Best Money Budgeting Apps

smartphone for money budgeting applications

Money budgeting and management apps are the best way to take control of your money. They give you a complete and comprehensive picture of your income, spending, savings, investments and so much more. These apps have been continuously optimized to give you options like help with budgeting, reminders about bill payments, and wealth management too.

By using a money budgeting app, you can figure out where your money is, and where its going. Take control of your money and use these (mostly) free tools to help you understand your finances better. And ultimately understand your money and know what you need to grow it.

Related: How to become debt free

1. Mint

Mint was the first money budgeting app I used when online budgeting tools started sprouting everywhere. This personal finance app gives you a well-rounded picture of your finances. It collects data from your bank, credit cards, and investment sources. The app structures it in an optimized view to see where your money is and where its going. It “learns” your budget by how much you spend month over month. It uses that information to let you know if you went over budget, made or lost money “this month” and what to pay attention to. And while not an investment management tool, Mint is an investment tracker tool.

I do like the added benefit of seeing your credit score within the app too.

What’s best? It’s FREE

My rating: 4.8/5

2. Personal Capital

Personal Capital is an aggregator of all your finances. I use this app daily to track funds in my bank account, my credit card, 401K, all my other investments and savings accounts. It allows for free budgeting and planning tools, and they also offer up wealth management services. If you’re looking for a comprehensive look into everything from budgeting to investing, to wealth management all at your finger tips, pick this one.

The ability to speak with a personal wealth management consultant is a cool add on.

What’s best? The net worth tool is a fun but real view into how much you have. It’s free too!

My rating: 4.5/5

3. HoneyFi

HoneyFi is a budgeting tool that helps couples. The tool allows both people to integrate their finances and budget according to their needs. They can set budgetary goals, and over time the tool recommends a budget for you as a couple. Individual partners can choose which accounts to “join” and which to keep separate. The added feature is the ability to chat within the app on every purchase. Don’t recognize that $500 spend on Amazon? You can now ask your partner within the app without having a full blown out in-person conversation. Some of the not-so-cool things about the app – it’s not free. It also doesn’t keep track of your savings accounts.

What’s best? The ability to chat about a specific transaction within the app.

My rating: 4.0/5

4. Wally

Wally might be one of the strongest and prettiest looking apps out there for budgeting. Okay so who cares about it being pretty? It’s a comprehensive aggregator of your finances. It works with over 15000 banks and 60 different currencies! The view of your expenses and savings is a great way for you to see where your money is going. Other apps will show you your combined expenses for a category but Wally shows you a complete breakdown, by day not month. What’s not cool is that is it only available on iOS not Android.

What’s best? It’s free and again, it’s pretty.

My rating; 4.9/5

5. PocketGuard

Another great budgeting tool that allows you to track your expenses, spending, and create a budget to manage them all. It lets you know how much remains in your “pocket” after everything has been taken care of in a cycle. Like the others, it also categorizes your spending for you. It builds a budget for you over time and lets you set goals to meet based on the budget. Keeping those goals is up to you. The focus of Pocketguard is based on your recurring income. This includes everything from your salary to any alimony.

What’s best? It lets you know when your credit card bills are due.

My rating: 4.7/5

In Conclusion

There are a lot of money budgeting apps out there and it can be a pain to find one that meets all your needs. One thing about that is that, there will always be something more we need. If there is one app that does something for you while not something else, you could always add both apps and use it for different purposes. It may not be a full consolidation, but that’s a compromise you could make. And most of these apps are free, so that’s a plus.   

Featured photo courtesy of unsplash.com

Article last updated: February 19, 2021

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