Best Budgeting Apps [2024]: Navigate Your Finances with Ease

MANAGE MONEY - BUDGETING
Updated Feb. 23, 2024
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Best for cutting your bills

Rocket Money

  • Finds unused subscriptions and helps you cancel them
  • Negotiates your bills on your behalf
  • Offers simple user experience
Visit Rocket Money

Best for user-friendly budgeting

Simplifi

  • Offers a simple method for visualizing your spending habits
  • Automatically categorizes your transactions
  • Gives you access to customizable categories
Visit Simplifi

It might be difficult to manage your finances in today's fast-paced world. To help you keep track of your spending and savings, you can use one of the many budgeting apps available. The top budgeting apps include Rocket Money for its bill negotiation feature, Simplifi for its simple budgeting interface, SoFi Relay1 for its comprehensive financial picture, and more.  Every budgeting software offers special features and advantages that can help you reach your financial goals.

Budgeting apps can help you track your spending and keep an eye on your income and net worth while keeping it all simple. Choose the right one for your individual needs, and you’ll be more likely to succeed at maintaining your budget.

In this article

The 7 best budgeting apps

  1. Rocket Money: Best for cutting your bills
  2. Simplifi: Best for user-friendly budgeting
  3. SoFi Relay: Best for tracking your money in one place
  4. YNAB (You Need a Budget): Best for cross-platform budgeting
  5. Wally: Best for family budgeting
  6. Goodbudget: Best for using the envelope system
  7. Honeydue: Best for couples

Comparison of the best budgeting apps

Budgeting app Best for Why it’s special Pricing
Rocket Money Cutting your bills Rocket Money cancels unused subscriptions and negotiates bills on your behalf, making the process simple.
  • Free version
  • $4 to $12 per month
Simplifi User-friendly budgeting Simplifi gives you a simple and user-friendly platform for everyday budgeting.
  • $2.99 per month, billed annually
SoFi Relay Tracking your money in one placeSoFi Relay makes it easy to track all your bank, investment, and retirement accounts in one place.
  • Free
YNAB Cross-platform budgeting When you sign up for YNAB, you’ll get access to the web app, along with YNAB for iPhone, Android, iPad, Apple Watch, and Alexa.
  • 34-day free trial period
  • $14.99 per month on the monthly plan
  • $99 per year for the annual plan
Wally Family budgeting Wally allows you to set group budgets and sync information about all your accounts.
  • Free version
  • $8.99 per month for the Wally Gold monthly plan
  • $39.96 per year for the Wally Gold annual plan
  • $99.99 for the Wally Gold lifetime membership
GoodbudgetUsing the envelope system Goodbudget enables you to budget for different expenses and goals by allocating each to its own envelope.
  • Free version
  • $8 per month for the Goodbudget Plus monthly plan
  • $70 per year for the Goodbudget Plus annual plan
Honeydue Couples Honeydue allows couples to budget in one place, mutually manage their finances, and divvy up balances and expenses.
  • Free

Rocket Money: Best for cutting your bills

Pros
  • Could help you save money by canceling unwanted subscriptions, negotiating recurring bills, and securing refunds
  • Allows you to track spending, connect bank accounts, and automate savings
  • Provides access to educational resources about budgeting, debt, investing, and more
Cons
  • Premium budgeting features are only available to subscribers
  • The company takes a portion of your savings from cancelations, negotiations, and refunds as a success fee

Available for: iOS devices on the App Store and Android devices on Google Play.

Pricing: Free version. $4 to $12 per month for premium version.

Why we like Rocket Money: Rocket Money can help its users save hundreds of dollars per year on average by canceling unwanted subscriptions, negotiating recurring bills with providers, and securing refunds on certain fees. The app also allows you to track your spending, connect your bank accounts, and automate your savings. It also gives you access to educational resources about budgeting, debt, investing, and more.

The app offers a simple user experience and comprehensive features that we like. The app makes it easy to use income and expense tracking, set budgeting goals, and receive personalized budgeting recommendations for saving money. It also imports your transactions and creates simple yet detailed reports, and can even negotiate recurring bills and subscriptions for you.

What we don't like about Rocket Money: While we can use Rocket Money for free, there are functions that only premium subscribers can access. This includes automated cancellations, overdraft and late fee refunds, and credit reports. Additionally, the company makes money by taking a portion of your savings after their expert team works to reduce costs on your behalf. Rocket Money allows you to choose from 30% to 60% of the amount saved as its success fee. On the other hand, if it can’t lower your bills, you pay nothing.

Visit Rocket Money

... Or read our Rocket Money review.

Lower Your Monthly Bills

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Simplifi: Best for user-friendly budgeting

Pros
  • Connects to over 14,000 financial institutions
  • Automatically categorizes transactions to help identify unnecessary expenses
  • Allows setting up custom limits for each category to prevent overspending
Cons
  • Doesn’t offer a free version
  • Lacks specific tools like a debt payoff tracker or retirement planner

Available for: iOS devices on the App Store and Android devices on Google Play.

Pricing: $2.99 per month, billed annually

Why we like Simplifi: Simplifi is a new tool by Quicken that helps you with money management and financial planning. It has an interactive interface and can connect to over 14,000 financial institutions to track your progress toward your financial goals. The app automatically categorizes your transactions, including debit card purchases, to help you identify unnecessary expenses and track your monthly spending. 

You can set up custom limits for each category to help prevent you from overspending. You’ll also be able to establish and track your savings goals from the app. The app can also track your bills to assist you with paying them on time and avoid late fees.

What we don't like about Simplifi: Simplifi doesn't offer a free version. Additionally, it doesn't have specific tools such as a debt payoff tracker or a retirement planner.

Visit Simplifi

... Or read our Simplifi review.

Know Your Spending Limit Instantly With This App

Tracks income & monthly expenses to show you real-time how much money you have left to spend until payday.

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SoFi Relay: Best for tracking your money in one place

Pros
  • Provides a simple yet comprehensive view of your finances with automatic categorization
  • Allows you to link external financial accounts, track spending, and set monthly spending targets
  • Offers credit score monitoring at no additional cost
Cons
  • Only available to people who register for a free SoFi account

Available for: iOS devices on the App Store and Android devices on Google Play.

Pricing: Free.

Why we like SoFi Relay: SoFi Relay is a tool offered by SoFi, one of the best online banks. SoFi Relay provides a comprehensive view of your finances by allowing you to link all your existing bank accounts, investment accounts, and retirement accounts into a single dashboard. You can view the dashboard via the SoFi mobile app or via a browser.

You can use SoFi Relay to automatically organize your spending categories, view your upcoming bill payments, and set goals that fit your personal budgeting method. One of the standout features is the credit monitoring section, where you can keep track of your credit score and view tips for improving it at no additional cost.

Perspectives
Yahia Barakah, CEPF
Yahia Barakah, CEPF
Editor

Yahia Barakah, CEPF, is a Senior Editor at FinanceBuzz and has created finance-focused content since 2011. As a Certified Educator of Personal Finance, he has a background in institutional investment and asset management, as well as a deep passion for financial literacy.
WHY SOFI RELAY IS MY PERSONAL FAVORITE

SoFi Relay is one of the best budgeting tools for maintaining connections with financial accounts without frequent verification. It also allows manual linking of accounts that can’t be automatically linked, such as certain liabilities or assets. This ensures a more comprehensive and up-to-date financial picture.

What we don't like about SoFi Relay: You need to register a free account with SoFi to use SoFi Relay. This isn't a significant downside, as most apps require a similar step. You may even double down and opt for opening a SoFi Checking and Savings2 account, one of our favorite bank accounts. It has $0 monthly fees, offers access to high annual percentage yield (APY)34 with direct deposits, and is insured by the Federal Deposit Insurance Corporation (FDIC)5.   

Visit SoFi Relay.

Get this free budget planner and spending tracker app

Use SoFi Credit Insights to easily set, categorize, and track your spending.1 Stay on top of bills and get weekly updates on your credit score. Sign up in under a minute.

Get started

YNAB: Best for cross-platform budgeting

Pros
  • Offers extensive cross-platform support
  • Allows setting up zero-based budgeting goals
  • Offers a higher level of control than some other apps
Cons
  • Doesn’t offer a free version beyond the trial period
  • Requires time and effort to categorize transactions

Available for: iOS devices on the App Store and Android devices on Google Play.

Pricing: 34-day free trial period. $14.99 per month on the monthly plan. $99 per year for the annual plan.

Why we like YNAB: You Need a Budget (YNAB) is a budgeting app that offers extensive cross-platform support, including desktop, iPhone, Android, iPad, Apple Watch, and Alexa. It has a dedicated following and reports that new users save an average of $600 in their first two months and $6,000 in their first year.

YNAB is a proactive system where you manually categorize and track spending. It allows you to set up zero-based budgeting goals to manage income and pay down debt faster or avoid overspending. YNAB offers a higher level of control than other apps that make spending and savings decisions for you.

What we don't like about YNAB: YNAB is one of the pricier apps. Despite its price, it requires time and effort to categorize your transactions, which can be time-consuming and may not be a good fit if you prefer a more hands-off approach to your finances.

Visit YNAB...

...Or read our YNAB review.

Use This App to Gain Total Control of Your Money

Learn More

Wally: Best for family budgeting

Pros
  • Features WallyGPT, an AI-powered feature for personal finance experience
  • Allows taking pictures of receipts for easy tracking of spending
  • Helps you view spending by category, collaborate on a shared budget, schedule bill reminders, and more
Cons
  • Premium version costs more than some other apps

Available for: iOS devices on the App Store and Android devices on Google Play.

Pricing: Free version. $8.99 per month for the Wally Gold monthly plan. $39.96 per year for the Wally Gold annual plan. $99.99 for the Wally Gold lifetime membership.

Why we like Wally: Wally is a personal finance app that allows you to connect all your financial accounts, budget by category, collaborate on a shared budget, schedule bill reminders, upload important documents, and save receipts and warranties.

One of the main features of Wally is WallyGPT, a feature that uses recent advances in artificial intelligence to power your personal finance experience. This feature enables you to converse with the app and ask it about your expenses and savings in natural language. The mobile app also allows you to track your bills to stay on top of their due dates. You can also take pictures of your receipts to make it easy to keep track of spending.

What we don't like about Wally: While there is a free version of Wally, the paid version costs more than some other budgeting apps.

Visit Wally.

Goodbudget: Best for using the envelope system

Pros
  • Uses the envelope system, making it easy for beginners to manage their finances and track expenses
  • Supports multiple devices and users
  • Tracks your debt repayment and other goals
Cons
  • The free version has limited features
  • Doesn't integrate with external accounts

Available for: iOS devices on the App Store and Android devices on Google Play.

Pricing: Free version. $8 per month for the Goodbudget Plus monthly plan. $70 per year for the Goodbudget Plus annual plan.

Why we like Goodbudget: Goodbudget is a user-friendly budgeting app that uses the envelope system to help beginners manage their finances. It’s an excellent tool for tracking expenses. The app is particularly useful for those looking to establish an emergency fund, as it allows users to set aside money for unexpected costs. 

The app offers a simple user experience and comprehensive features. It allows you to track income and expenses and set budgeting goals, such as paying off debt or saving money. You can manually input your transactions or import them by uploading a supported file.

What we don't like about Goodbudget: While the free version of Goodbudget offers a range of features, some functions are only available to premium subscribers. This includes access to Goodbudget from up to five devices and the use of unlimited envelopes. Additionally, Goodbudget doesn't integrate with other tools or accounts. This means that you can't easily get a comprehensive picture of your finances.

Visit Goodbudget.

Honeydue: Best for couples

Pros
  • Helps partners manage their money together by tracking expenses, bills, and financial accounts
  • Enables each person to maintain their privacy
  • Offers a joint Cash bank account with a debit Visa card
Cons
  • Doesn't have a desktop platform

Available for: iOS devices on the App Store and Android devices on Google Play.

Pricing: Free.

Why we like Honeydue: Honeydue is a free budget planning app for couples that's available for iOS and Android. It helps partners manage their money together by tracking expenses, bills, and financial account balances, including joint bank accounts and investment accounts.

Couples can choose how much information to share, set monthly spending limits, add custom categories, split expenses, and settle balances. The app also offers a joint Cash bank account with a debit Visa card. Honeydue aims to provide clear financial pictures for couples to ease communication about money habits and goals, reducing misunderstandings. At the same time, we appreciate that the app still enables each person to maintain the level of privacy they need by enabling custom information sharing.

What we don't like about Honeydue: You can’t access your information through your laptop or desktop device, limiting you to using your phone. This can make it harder to dig deeper into the information available on the app.

Visit Honeydue.

What is a budgeting app?

Budgeting apps are a type of digital platform that assists you in keeping track of your income and expenses. Some of these platforms are available on mobile devices, while others are available on both mobile and desktop devices.

Some budgeting apps go beyond tracking your income and expenses by offering tools such as automated savings, bill negotiation, and more. By pointing out areas where you may reduce expenses and giving you concrete methods to take charge of your finances, these extra features can help you save money and improve your overall financial health.

How do budgeting apps work?

The main goal of most budgeting apps is simplifying the way you perform everything from basic budgeting to investment tracking.

Instead of using a pen and paper or an Excel sheet to write down everything, many budgeting apps connect to your bank or financial institution to automatically import and categorize your transactions.

The categories a budgeting app may use can include income and expenses by type, such as dining, phone bills, insurance premiums, and more. This helps you see the areas where you might be able to cut back on your spending, keep an eye on your due bills, cancel subscriptions you don’t need, and more.

Some budgeting apps also offer investment tracking or credit score monitoring. These apps help you get a complete picture of your financial status and may even propose practical measures to improve your finances or creditworthiness.

How to choose the best budgeting app

Here are some things to consider when choosing the best budgeting app for you:

  • Cost: Some budgeting apps are free, but apps that offer the best features may charge a one-off fee or use a paid subscription. Think about the features you need and if it’s worth paying for them.
  • Connection with your bank accounts: Not all budgeting apps are created equal. Some apps might simply be better at connecting with your bank and financial institutions. Before settling for one app, make sure to test a few to find the one that offers the most stable connection.
  • Bill negotiation: Some budgeting apps offer bill negotiation services to help you save money on your regular bills, such as those for streaming services, internet, or phone service. These apps can examine your bills, find any areas where you might be able to save money or receive a discount, and negotiate with the service providers on your behalf to lower your monthly payments.
  • Automated savings: Some budgeting apps allow you to set up automatic transfers from your checking account to a savings account or set aside money for specific savings objectives with some budgeting tools. Both the amount you wish to save and the frequency of the transfers are up to you. This can help you to increase your savings Without much work.

FAQ about budgeting apps

What are the best free budgeting apps?

Rocket Money is one of our recommended budgeting apps that offers a free version. SoFi Relay is another budgeting tool that's free to use for SoFi users. Both tools offer simple yet powerful budgeting tools that can help you keep track of your spending, monitor your net worth, and receive notifications of upcoming bills. Other free budgeting apps to consider include Marcus Insights and Empower, which offer free all-in-one budgeting, as well as Wally, Pocketguard, and EveryDollar, which provide free versions or certain features at no cost.  

How can I keep more money in my pocket?

One effective way to keep more money in your pocket is by using budgeting apps. Apps like Rocket Money, Simplifi, and Sofi Relay can help you track your income and expenses, set savings goals, and make smarter decisions with your money. These apps provide a clear overview of your financial situation and offer insights into where your money is going, which can help you identify areas where you can cut back. Remember, the key to successful budgeting is consistency and discipline.

Do budgeting apps really work?

Budgeting apps are effective tools for managing money, but their benefits are maximized with consistent use. If you’re dedicated to financial improvement, these apps can provide insights into your spending habits, potential cost-cutting areas, and strategies for growing your savings.

Plus, many budgeting apps also offer robust security features, including bank-level protection and multi-factor authentication. This ensures that your information remains protected and secure.

What happened to Mint by Intuit?

Intuit, the company that owns Mint, announced that the Mint app will shut down on January 1, 2024. Intuit plans to integrate Mint into its other service, Credit Karma. If you currently use Mint, you'll lose access to your Mint account on the shutdown date. You should make sure to migrate your existing data on Mint before that date to avoid losing it.

Best budgeting apps: bottom line

If you’ve never budgeted before, it’s simple to learn how to manage your money, and it's something you can look forward to. The right financial product could help you get better control over where your money goes and improve your cash flow, which will help you if you’re drowning in debt. And no matter your budgeting style, there’s an app that can help you better manage your money.

In order to be successful, narrow down your options to a few that fit your needs. Decide if you want your budget to be restrictive or flexible, automatic or manual, and shared or individual. Determine what devices you’ll use to access the service and how much time you can devote to startup and ongoing use. From there, try out a few of your picks. One interface may stand out to you more than others, or you might find certain features particularly helpful.

Once you’ve selected your ideal budgeting tool, you should also consider your budgeting strategy. Some people may use an envelope budgeting technique to split their money, a 50/30/20 system to divide their income between needs, wants, and savings, or opt for a zero-based budgeting system that assigns a purpose for every dollar they earn. Learn more about these budgeting systems, and you may be on your way to a healthier and wealthier future.

Our methodology

To develop our list of the best budget apps, we looked at popular apps and evaluated them according to a set of criteria we consider critical to the consumer, including product features, product interfaces, pricing, and ease of use. We did not evaluate all companies in the category. We used editorial judgment to determine what use or type of user each budgeting app is best for.

Rocket Money Benefits

  • Automatically find and cancel subscriptions
  • Slash your monthly phone, cable, and internet bills
  • Save an average of up to $720 a year

Author Details

Lindsay Frankel Lindsay Frankel is a Denver-based freelance writer who specializes in credit cards, travel, budgeting/saving, and shopping. She has been featured in several finance publications, including LendingTree. When she's not writing, you can find her enjoying the great outdoors, playing music, or cuddling with her rescue pup.
Yahia Barakah, CEPF Yahia Barakah, CEPF, is a Senior Editor at FinanceBuzz and has created finance-focused content since 2011. As a Certified Educator of Personal Finance, he has a background in institutional investment and asset management, as well as a deep passion for financial literacy.

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