Top 8 Financial Management Apps to Try in 2024

Discovering the ideal budgeting app and integrating it into your financial routine can lead to significant enhancements in your economic health. To assist you in identifying the perfect fit, we’ve meticulously evaluated a plethora of applications, narrowing down the selection to the most outstanding budgeting apps suitable for every budgeting style.

Many individuals approach budgeting with the same trepidation they reserve for calorie counting—acknowledging its importance but hesitating to engage with it. However, similar to how adherence to a diet yields results, sticking to a budget tailored to your lifestyle can lead to positive financial outcomes.

Budgeting applications can simplify this process, much like food tracking apps do for diet management. Once you find the right fit, you’ll observe a substantial improvement in your financial management.

Overview of Top Budget Apps

• Best Overall: Tiller
• Best for Automatic Tracking: Mint
• Best for Simplicity: PocketGuard
• Best for Zero-Based Budgeting: YNAB
• Best for Envelope System Budgeting: EveryDollar
• Best for Couples: Honeydue
• Best for Tracking Net Worth and Spending: Empower

1. Best Overall: Tiller

Price: 30-day free trial, then 79/yr(6.58/mo)

Tiller stands out for its flexibility, catering to users who prefer spreadsheets over standard budgeting apps. It automatically updates up to five customizable spreadsheets with daily spending, transactions, and balances from all your accounts, including credit cards, loans, and bank accounts. Tiller supports various budgeting methods and offers a daily email summary of account balances.

2. Best for Automatic Tracking: Mint

Price: Free

Mint is a comprehensive budget management tool that excels in automatically tracking spending. It allows users to set spending targets for each budget category and categorizes transactions in real time. Mint’s appeal lies in its ability to consolidate a user’s entire financial life into a single, accessible platform.

3. Best for Simplicity: PocketGuard

Price: Free or $7.99/mo for PocketGuard Plus

PocketGuard is tailored for millennials new to budgeting, offering a straightforward interface. Its standout feature, “In My Pocket,” quickly shows available funds after accounting for bills, spending, and savings goals. PocketGuard Plus offers additional benefits, such as identifying savings opportunities and a referral program for extended service.

4. Best for Zero-Based Budgeting: YNAB

Price: 34-day free trial, then 99/yr(or14.99 per month)

YNAB (You Need a Budget) is renowned for its zero-based budgeting approach, ensuring every dollar has a designated purpose. This app is ideal for those aiming to manage all spending, pay off debt, or achieve financial goals, offering a central hub for managing accounts and debt.

5. Best for Envelope System Budgeting: EveryDollar

Price: 14-day free trial, then 12.99permonthor79.99 per year.

EveryDollar, created by Dave Ramsey, operates on the envelope budgeting system. It includes features like the Debt Snowball Tool for debt payoff planning and syncs with external accounts in real time. The premium version, Ramsey+, offers additional benefits such as access to Financial Peace University.

6. Best for Couples: Honeydue

Price: Free

Honeydue is designed specifically for couples, facilitating shared financial management. It allows users to monitor account balances, bill due dates, and even split bills. Its unique messaging feature promotes clear communication about financial transactions.

7. Best for Tracking Net Worth and Spending: Empower

Price: Free

Empower, formerly Personal Capital, is known for its investment software but also provides robust budgeting tools. It enables users to connect all financial accounts and offers net worth tracking, revealing trends over time, and personalized financial planning.

Honorable Mentions:

• Goodbudget: Offers both free and paid options, ideal for those who prefer the cash envelope system.
• Wally: Assists users in budgeting, spending tracking, and savings goal setting, with a feature for scanning receipts for automatic expense tracking.

Considerations When Using a Budgeting App

• Account Setup: Initial setup can be time-consuming but is crucial for syncing all bank accounts.
• Transaction Categorization: Be vigilant about transaction categorization errors and correct them to improve app accuracy.
• Account Re-syncing: Be prepared to occasionally re-sync accounts due to security measures.
• Notification Management: Adjust alert preferences to avoid notification fatigue.
• Advertising: Understand that free apps generate revenue through advertising or referrals.

Choosing the Right App

Experiment with different apps to find the one that meets your needs. Research and read reviews to ensure the app aligns with your financial goals and lifestyle. Remember, it’s okay to switch apps if one doesn’t meet your expectations.

Further Resources for Budgeting

For additional guidance on budgeting, explore our recommended resources for comprehensive financial management.