"If you fail to plan, you plan to fail"
Benjamin Franklin may not have been talking about your budget, but it still applies. If you spend more than you make, you’re not going to get ahead. Now we could pull out the bank statements, credit card bills, and the spreadsheets, but who has time for that? Let’s pull out our phones and find the best budgeting app for you!
Here are the top 5 Budgeting Apps out there!
- You Need a Budget (YNAB)
1. You Need a Budget (YNAB)
YNAB helps you think ahead planning for expenses. It helps you set goals and priorities. Like EveryDollar (you’ll hear more later) YNAB believes in putting every dollar to work. Able to be on multiple devices means you can keep track of a budget with your partner. You have the option of a monthly subscription or annual, both are very affordable. With the subscription, you get: real-time help, online workshops, and video courses. This system works with a laptop, iPad, phone (Android or iPhone), Apple Watch, and Alexa. Check out the website to download the app today.
Now maybe you need a budgeting app that doesn’t cost you money, look no further than Mint. Mint offers budgeting tools, cash flow tracking, and even monitoring your credit score. Set bill reminders and create saving trackers. Brought to you by the same people who give you TurboTax, Mint also has in-app refinancing options. Mint is compatible with both iPhone and Android, check it out here.
The EveryDollar app is part of David Ramsey’s Ramsey+ program. There are multiple subscription options: 3 months, 6 months or 12-month subscriptions. This program includes online lessons, tracking your progress, and budgeting. This is where EveryDollar comes into play. Download the app, or use it on your computer, you track your monthly income and give it a job. Each month you take your total income and give each dollar a job. Whether it’s going to savings, or out to dinner, you’re on the right track when there’s no money left over.
GoodBudget uses the Cash Envelope Method. Each envelope is a specific expense: groceries, eating out, bills, etc. You put your designated amount of money in that envelope and once it’s gone, it’s gone, no more spending. But keeping track of envelopes is stressful, what if I lose them?! Here, all your envelopes are in the app. GoodBudget offers a free and plus plan depending on your needs. You can also share the budget with a partner, or various people. This is a nice feature if you have more than one person spending out of a specific budget. Works on iPhones, Androids, and laptops.
For Android or iPhone, this app puts everything in one place and helps you stay in control. Digit tracks your income and spending habits and lets you know when you have extra money to save. Digit will take that extra money and move it to a Digit Savings Account. Each month Digit transfers the amount you can afford. This app also helps you with investing and can match you with the right investment funds. For just $5 a month, this app is inexpensive and convenient.
Start planning your budget
Whether you’re a financial guru or a complete novice, there’s an app for you. With these great options, you’ll be well on your way to financial stability. An important thing to remember is to find the app that works for you. An unused app isn’t going to help you with that budget!
Have you tried any of these apps? What's your favorite? Let me know in the comments!