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Top Budgeting Apps of 2024: A Comprehensive Guide
Budgeting is essential for a successful financial plan, but it can be challenging to manage on your own. The best budgeting apps can help you organize your finances, stay on track, and achieve your financial goals. Here are our top five picks for the best budgeting apps available in 2024.
PocketGuard
Cost: Free, with a premium tier
App Store rating: 4.7/5
Google Play Store rating: 4.4/5
Best feature: Simple snapshot of how much you can spend
PocketGuard offers a straightforward approach to budgeting by connecting to your financial accounts and tracking your transactions and bills. It provides a snapshot of your available spending money based on your income, bills, and budgeted goals. For more detailed budgeting, PocketGuard Plus offers features like debt payoff plans, custom spending categories, and unlimited savings goals for $7.99 per month or $34.99 annually.
You Need a Budget (YNAB)
Cost: $99 annually
App Store rating: 4.8/5
Google Play Store rating: 4.6/5
Best feature: Helps you assign a purpose for every dollar with a zero-based budget
YNAB is ideal for those who prefer a zero-based budgeting method, where every dollar is assigned a purpose. The app allows you to connect your financial accounts, share budgets with a partner, set financial goals, and track spending and net worth. While it costs $14.99 per month or $99 per year, it offers extensive resources, including workshops and guides.
Goodbudget
Cost: Free, with a premium tier
App Store rating: 4.6/5
Google Play Store rating: 4.2/5
Best feature: Lets you view your budget across multiple devices
Goodbudget uses an envelope-based budgeting system, allowing you to create virtual envelopes for different spending categories. While it doesn’t connect to financial accounts, it offers a free version with 10 envelopes and a premium version for $8 monthly or $70 annually, which includes unlimited envelopes and accounts across multiple devices.
Empower
Cost: Free
App Store rating: 4.7/5
Google Play Store rating: 4.3/5
Best feature: Also helps you track your investment accounts
Empower, formerly known as Personal Capital, is primarily an investment management app that also offers budgeting tools. It allows you to track your net worth, develop retirement strategies, and get insights into your investment portfolio. However, its premium features require a minimum of $100,000 in investments.
HoneyDue
Cost: Free
App Store rating: 4.5/5
Google Play Store rating: 3.4/5
Best feature: Helps couples manage expenses together
HoneyDue is designed for couples to budget together. It allows partners to link their accounts, set bill reminders, and communicate about expenses within the app. While it doesn’t offer savings goals, it provides a unique way for couples to manage their finances collaboratively.
Other Budgeting Options
If you prefer not to use an app, consider creating a budget spreadsheet or using pen and paper. Free online templates can help you get started, but keep in mind that these methods require manual updates and may be time-consuming if you have multiple accounts.
Evaluate Your Budget Regularly
It’s important to review your budgeting approach at least once a year to ensure it aligns with your financial goals. This may involve switching to a different budgeting app or method. As you evaluate your financial health, keep an eye on your credit, which you can monitor for free through Experian.
For any mortgage service needs, call O1ne Mortgage at 213-732-3074. We’re here to help you achieve your financial goals with the best mortgage solutions.
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