Best Budget Apps of 2024
Money management can be overwhelming, but budget apps make it really easy. With budgeting apps, you will get an easy way to track your expenses and manage bills, helping you save money. In 2024, several glowing budget apps come with a bundle of useful features. If you are worried about online security, especially when dealing with sensitive financial information, use a Virtual Private Network. VPNs, such as CyberGhost, can even provide an extra layer of security where your internet connection is encrypted, and hence, the financial activity you engage in remains wholly hidden from hackers.
Simplifi by Quicken: Best for Planners
Best for Planners If you are the kind of person who loves to have every detail planned concerning their finances, then Simplifi by Quicken may be your most feature-heavy option. It is one of the best apps to establish and manage customizable reports, plus a live spending plan that adapts as your habits change. With quite some value in deep insights into your expenditure, income, and savings at $2.99 per month, this app, though, does not have a free version. Simplify by Quicken just probably might be what you need if your goals are tracking and forecasting your financial future.
YNAB stands out for its zero-based budgeting approach, where every dollar is allocated to a specific job. Whether it's for bills, savings, or discretionary spending, this app helps you plan every penny. At $99 per year or $14.99 per month after a free 34-day trial, YNAB is a bit pricier. Still, it's effective for those committed to getting their finances in order. It's particularly beneficial for anyone looking to reduce debt and maximize savings.
Goodbudget is great for those new to budgeting. It uses a digital envelope system, an easy concept for beginners. The basic version is free and suitable for managing limited categories. In contrast, the Plus version, at $10 per month, offers unlimited envelopes and additional features. This app is all about simplicity and collaboration, allowing couples to manage finances together without syncing bank accounts.
You Need a Budget (YNAB): Best for Serious Budgeters
YNAB is famous for its zero-based budget, in which each one of your dollars gets a specific task, whether that be to pay bills, go into savings or sitting in your pocket to spend on non-essentials. YNAB isn't free: After an initial 34-day free trial, it costs $99 per year or $14.99 per month. Still, it's effective for those committed to getting their finances in order. It's particularly beneficial for anyone looking to reduce debt and maximize savings.
Goodbudget: Best for Beginners
Goodbudget is excellent for those new to budgeting. It uses a digital envelope system, an easy concept for beginners. The basic version is free and suitable for managing limited categories. The Plus version, however, is priced at $10 monthly and provides unlimited envelopes with some extra features. This app is all about simplicity and collaboration in managing finances together as a couple without having to sync bank accounts.
Empower (formerly Personal Capital): Best for Investors
Empower combines budgeting tools with investment tracking, making it ideal for users focused on growing their wealth. While the app itself is free, additional investment management services are available for a fee. Empower is excellent for anyone who wants an overview of their net worth and investment portfolio alongside everyday budget management.
PocketGuard: Best for Overspenders
PocketGuard helps users prevent overspending by showing how much money is available after accounting for bills, goals, and subscriptions. It's particularly useful for those who struggle with impulse purchases. The basic version is free, but the Plus version, at $74.99 per year, offers more in-depth features like a debt payoff plan and the ability to track specific financial goals.
Honeydue: Best for Couples
Honeydue shines in facilitating financial communication between partners. It allows couples to track shared expenses and manage bills together. This app is free and is particularly useful for couples looking to achieve financial goals together, such as saving for a wedding or a home. It supports sharing selected financial details while maintaining individual privacy.
FAQs: Budget Apps – Some Common Questions
Q: Are budget apps safe to use? A: Most budget apps use modern-day encryption and other security features to protect your information. Always do research on the safety features before creating an account. Examples include two-factor authentication or data encryption.
Q: Should I opt for a free or paid budget app? A: The free budget apps are great for tracking and managing in very basic terms. However, if you need something far more advanced in terms of tracking investments or far more detailed reporting, then a paid app would be more fitting. Think about what you want to have in the app and whether it would be worth it as a supplement to your financial management.
Q: Do budgeting apps really save me money? A: Precisely. They also give you insight into your expenditure pattern to help you prepare and stay within your budget, and they can be powerful tools for ways to improve your financial health and achieve your financial goals.
Q: What are the main features I should look for in a budget app? A: You'd probably want to look for features like tracking expenses, bill reminders, or monitoring investments because those are the things that will serve your purposes best. Also, consider the ease of use, customer support, and compatibility with your financial institutions.
The best budget app in 2024 depends on your personal finance goals, your budgeting style, and whether you're looking for basic tracking versus more comprehensive financial management tools. Whichever way you slice it, there's a budget app optimized just for you.