It is a fact that not everyone in this world has a mind that can do the math properly. We have often heard people say that their most hated subject during classes was Maths. These people are also the ones who have terrible spending and money management habit. They don’t realize that it is very important to have a budgeting habit which will help them manage their income and the things they are spending on.

Now, we also know that it is not easy for people to maintain their money records on a sheet of paper or a diary for that matter. Well, we have also seen how people get clumsy when they need to do their personal finance as well as tell people about their spending habits.

Therefore, we are here to tell you about the budgeting apps that you need to have on your smartphones. On top of that, we will also tell you about the best budget app which will help you manage your spending and let you do personal finance.

With these apps, you can track your expenses, make your savings goals and also tell the app about your spending and this budgeting app will tell you about your spending habits which might be good or bad.

One thing we have noted with people is that they don’t take care of their future and they have no savings goals set for themselves. This means that if something mistoward happens to them, they will be in trouble because of no financial goals.

In this day and age, we know that smartphones have become very smart and we can think of them as mini supercomputers on our fingertips. This means that they can do everything that we find difficult to manage. Yes, you can also do your personal finance on your smartphone with the help of budgeting apps. For this, you will have to install these apps from the app store on your smartphones.

What these budgeting apps do is they read the emails, messages and bills that arrive on your smartphones and then they give you expense tracking, personal financing and also show you your spending habits.

Now, we talk about some statistics to back up our claim of why you need to have budgeting apps on your smartphone. In a recent study done in late 2018, it was found out that 63% of smartphones users have at least one budgeting app on their smartphone.

This means that 63% of the users are already serious about their personal finance and they manage their transactions and set saving goals on their smartphones. However, the fact of the matter is that 37% of the people are still not using budgeting apps which let you manage your spending habits.

Also, you will say that the credit card is one of the best things that has happened to mankind. However, we will argue that the credit card is also the worst thing if not managed properly. It is often found that people do not manage their spending habits and damage their credit score because of huge credit card bills that they are not able to pay up in time.

Now, let’s talk about the reason we are here for which are the budgeting apps that you should have on your smartphone. This list of budgeting apps will also show you the best budget app which will also help you in expense tracking, personal finance, spending habits and more.

Best Budget Applications for Financial Management
Best Budget Applications for Financial Management

 

  1. Mint #1 Best Budget Applications for Financial Management

It goes without saying that one of the best budgeting apps in the world right now is Mint. There are no reasons to not like Mint and it can also be called the Best Budgeting app right now. One of the best things that Mint does is that it connects to your financial account and syncs them as well. It means that Mint constantly looks for your savings account, credit card account as well as other financial accounts if you have any.

It tracks all the incoming money as well as the outgoing money as well. From this, you will be able to track your expense habits as well as track your income. You also get notifications with Mint so that you are never late on paying the bills for any of your accounts. Mint also has an exceptional feature of reporting your credit score on an ongoing basis which means that you can see how your credit score and you can also get tips to improve your credit score if needed.

On top of that, Mint is developed by the people who have made Quickbooks which means that it is definitely going to be the best application out there.

Mint budgeting app is totally free to use and you don’t have to pay anything to use the app. One thing that we personally like about Mint is that it shows you your spending habits and it even alerts you when you are spending more than your budget or habits.

2. PocketGuard  #2 Best Budget Applications for Financial Management

PocketGuard is another app which lets you manage your expense and lets you know about the spending habits. One of the main reasons why people need to have budgeting apps on their smartphone is to manage their personal finance and PocketGuard app lets you do exactly that and more.

As was the case with Mint, PocketGuard also lets you track all the expenses that you have done. This might be the smallest of purchases that you have made to buy your morning coffee or the dinner that you had last night. All this is done as PocketGuard syncs with your banking accounts.

PocketGuard is not only an application which shows you data about your expense and bores you with numbers. Rather, it shows you the data in a beautiful manner in the form of graphs and charts which not only helps you understand your expense and spending habits but also does so in a visually appealing manner.

One of the best things that you get with PocketGuard is the fact that it tracks your expense based on your budget that you have set. This means that if you overspend, you will be notified of that.

3. Wally #3 Best Budget Applications for Financial Management

Wally is another budgeting apps which lets you do what is says, budgeting. Wally is for those who are extremely clumsy when it comes to managing their finance and they need to have an app to track their income and expenses. One thing that we get with Wally is it will balance your income as well as expenses and give you an idea of where you are spending your money.

One thing we must tell you is that Wally is a great budget tool but it is a budget tool only and you will have to find any other tool if you need something more. However, we must say that Wally is the best budget app and nothing more.

4. Goodbudget #4 Best Budget Applications for Financial Management

Goodbudget is yet another budgeting app which does the job of budgeting very well. This app lets you manage your income and expenses and you will be able to know when your paycheck arrives and it will also tell you when and where your spends are going. This will help you manage expenses and you will be made aware about your spending habits.

As far as Goodbudget is concerned, you can enable two-factor authentication for your account which means that your account cannot be compromised. Because you will get a message or email once you sign in to your account which will come on your device only.

One thing that you will see in Goodbudget is its envelope budgeting model. This is a very unique mode used in this app which lets you add money in a virtual envelope and spend on specific purpose.

5. Simple #5 Best Budget Applications for Financial Management

Simple, as the name suggests, is a simple budgeting app. This app does a lot more than managing your budget as it also a personal finance app. Not only will Simple show you the personal finance, expenses, spending habits etc., it will also become a bank account for your financial accounts.

You will be able to track expenses for all your accounts in one place. Simple also aims to be the best budgeting software out there which makes it an even useful budgeting app.

You will be able to manage all your transactions on your debit card, credit card or your savings account and even track your credit score. Users can also create a budget in this app and if you try to overspend, the app will notify you about that.

Talking about Simple, it is also a free application to use but it does provide you in-app purchases which you can make to unlock some features inside the app. However, it works just fine even if you do not make in-app purchases.

6. You Need a Budget #6 Best Budget Applications for Financial Management

You Need a Budget or YNAB is a very cheeky name for a budgeting app. But it is also exactly what you need which is a budget. People are often times very messy when it comes to budgeting and they don’t care about personal finance and savings goals.

With YNAB, you will no longer need to take care because the app will take care of your financial goals for you and also let you know about your spending habits and other stuff related to money.

You can also set long-term goals inside this app and it works on the concept of zero-based budgeting which means that you need to accountable for each and every transaction that you make so that you know exactly where your money is going.

One little downside with YNAB is that it is free to use for a limited period of 34 days only. After that, you will have to make an in-app purchase of $6.99 to keep using the app. YNAB has a debt payoff feature as well which lets you know when you need to pay your due debts on time.

7. BUDGT #7 Best Budget Applications for Financial Management

BUDGT is another budgeting app and it is also creatively named after what budget would be called in Stock Market terms. Now, it is no joke to do personal finance and manage all your savings accounts, credit cards and debit cards and it could get worse if you have not done them for a long time. Therefore, BUDGT helps you track expenses, create a budget and track your spendings.

It also tracks a concept called credit karma which is basically all the points you have gathered while buying things on credit. Just like your credit score, your credit karma also increases as much as you make purchases on your card. Also, it helps when you pay your bills on time and helps you in increasing your credit karma even more. As we have already mentioned before, you need to turn on two-factor or multi-factor authentication which is an additional layer of security that you must have for your financial apps.

8. Mvelopes #8 Best Budget Applications for Financial Management

Mvelopes is a very unique budgeting app in its own rights. Every application that we have mentioned in this list works on the idea of budgeting. Mvelopes also does the same but the working of this app is different. Mvelopes is basically a digital envelope which helps you track your financial accounts.

This app will let you create as many envelopes for yourself as possible. These envelopes are what you set for spending on a specific purpose. Mvelopes offers various different plans named as Mvelopes Basic, Plus and Complete. All of these offer unique features but you can get all of its features in the complete package which involves in-app purchases.

Also, Mvelopes is available across all platforms such as Android, iOS and desktop which means that you have an Android app for this budgeting tool which helps you track expenses on the go

Conclusion

We have tried to list all the best budgeting apps out there. So you need to choose with apps works best for you and fulfils your need. One thing to note, however, is that you will not go wrong with any of the budgeting apps mentioned above.

James S. Smith
Author

James was born and raised in Boston but left the beloved American city behind to pursue his degree in international relations and business in Chicago. A natural hard-worker, James fell in love with money at the age of 4 when he started inventing clever ways to sell off his family’s old stuff in the basement. James still resides in the Windy City, and enjoys skiing, fishing and taking last-minute road trips when he has time.

Liked this post? Let us know your thought by posting comments here.