Many people use their phones to handle everyday tasks, from scheduling appointments to staying connected with family. Budgeting apps are another tool you can use to keep track of your finances in one place.
These apps can help organize spending, track recurring expenses, and show where money goes each month. Some connect directly to financial accounts, while others rely on manual entry. Features and costs vary, which is why comparing options can be useful.
Below are several budgeting apps that are commonly used today, along with a brief explanation of how each one works.
What Budgeting Apps Typically Do
Most budgeting apps are designed to help users monitor and organize their finances over time. While features differ, many apps offer tools such as:
- Tracking spending by category, such as groceries or transportation
- Showing monthly income alongside expenses
- Highlighting recurring bills or subscriptions
- Sending alerts related to spending activity
Some apps focus on detailed planning, while others emphasize visibility and simplicity. The right option depends on how hands-on you want to be and which features matter most to you.
YNAB (You Need a Budget)
YNAB is a budgeting app built around assigning income to specific categories. Rather than focusing only on past spending, the app emphasizes planning how money is used before it is spent.
Users can track expenses, adjust categories as circumstances change, and review spending trends over time. YNAB is available on mobile devices and through a web-based platform. It requires a paid subscription after a free trial.
YNAB may appeal to people who want a structured, hands-on approach to budgeting and are comfortable actively managing categories.
Simplifi by Quicken
Simplifi is designed to give users a high-level view of their finances with minimal manual input. The app connects to many financial institutions and automatically categorizes transactions.
It highlights recurring bills, tracks monthly spending, and allows users to set custom spending limits by category. Simplifi also provides reports that show how spending patterns change over time.
Simplifi may be a good fit for people who prefer automated tracking and visual summaries rather than detailed budget planning.
Wally
Wally focuses on tracking spending and organizing expenses across flexible budget periods. Users can group expenses by category and adjust timeframes based on how often certain costs occur.
The app supports both manual entry and bank connections, depending on location. Spending activity can be reviewed in real time and compared with previous periods.
Wally may be useful for people who want flexibility in how budgets are structured rather than following a fixed monthly format.
Monarch Money
Monarch Money is a subscription-based budgeting and money management app that brings multiple financial accounts into a single dashboard. It allows users to track spending, categorize transactions, and create custom budgets.
The app also includes tools for reviewing trends, monitoring recurring expenses, and collaborating with another person on shared finances. Monarch Money is available on web and mobile platforms.
This app may appeal to people looking for a modern interface and a centralized way to monitor spending across multiple accounts.
Rocket Money
Rocket Money focuses on tracking expenses and recurring charges, including subscriptions and regular bills. After accounts are connected, the app organizes transactions and highlights spending patterns.
Rocket Money provides budgeting tools that show how spending compares to income over time. Its recurring expense features can help users better understand ongoing monthly costs.
This app may be helpful for people who want visibility into subscriptions and repeating expenses alongside general spending.
PocketGuard
PocketGuard is designed to provide a simplified view of day-to-day finances. The app connects to bank accounts and categorizes spending to show how much money remains after accounting for bills and regular expenses.
PocketGuard emphasizes ease of use and visual summaries rather than detailed budget planning. Spending can be reviewed by category and tracked over time.
This app may appeal to people who prefer a straightforward way to monitor spending without managing complex budgets.
Budgeting Apps for Families and Kids
Some budgeting apps are designed to introduce money concepts and manage shared expenses within families. These tools often focus on learning and visibility rather than detailed financial planning.
Rooster Money
Rooster Money is a family-focused app designed to help parents introduce basic money concepts to children. Families can track allowances, savings goals, and spending activity in a simplified format.
Parents can choose how much control and visibility to provide, depending on a child’s age. Rooster Money is commonly used as an educational tool rather than a full household budgeting system.
FamZoo
FamZoo is a budgeting app built for families managing allowances and shared spending. Parents can assign money to categories and monitor how funds are used over time.
The app is often used to help children and teens understand budgeting basics through shared visibility. FamZoo offers subscription-based access and is designed for family participation.
Budgeting Apps for Shared Finances
Some budgeting apps are built for situations where more than one person needs access to spending information. These tools are often used by couples, families, or roommates managing shared expenses.
Honeydue
Honeydue is designed for shared finances between two people. It allows users to connect accounts, track spending, and view transactions while choosing how much information to share.
The app includes tools for categorizing expenses, monitoring monthly spending, and setting alerts related to bills and account activity.
Honeydue may be useful for couples or household partners who want a shared view of expenses without fully combining finances.
Goodbudget
Goodbudget uses a digital envelope system that divides income into spending categories. The app syncs across devices, allowing multiple users to update the same budget in real time.
Goodbudget offers a free version with limited features and a paid version with additional envelopes and account history. It is available on iOS and Android.
This app may work well for people who prefer a category-based approach and shared access across devices.
Using Budgeting Apps as Part of a Broader Money-Management Approach
Budgeting apps can provide a practical way to organize spending and monitor expenses. Since features and approaches vary, comparing options can help identify which tools align with your specific needs and preferences.
Some people prefer detailed planning tools, while others focus on visibility and simplicity. Using a budgeting app alongside other financial resources can support a more informed and organized approach to managing day-to-day finances.
