Top 10 Budgeting Apps.
Introduction.
When it comes to managing your finances to achieve long-term financial goals, budgeting is one major tool needed to achieve this. Budgeting requires being intentional and disciplined as it needs to be practiced to become a habit. Managing your budget can sometimes feel overwhelming, especially for beginners. Nevertheless, technology has made it easier for us all as there are now various budgeting apps that can be of help. With these innovative apps, you can track your expenses, create budgets, and even set saving goals with easy access.
In case you’re looking for smarter ways to manage your finances, in this article we’ll introduce you to the top 10 free budgeting apps with powerful features to help you take control of your money. Although, most of these budgeting apps offer both free and premium versions.
- Pocket Guard:
This is a budgeting app best funded by Noosphere Ventures for overspenders that helps you manage your finances by keeping track of your expenses and income. It analyzes your spending pattern and shows you how much money you have. With its autosave feature, you can save until you achieve your saving goals as the app automatically has access to your financial accounts once you sign up to the app.
Using this app helps curb overspending and manages debt as it tracks your bills and reminds you of upcoming due dates to avoid late payment fees. It offers a free, paid, or premium version and is available on Android and iPhone platforms with 4.5-star ratings on the Google play store and 4.7-star ratings on the Apple play store.
2. You Need a Budget(YNAB). This is a budgeting app mostly used by professionals. It helps in allocating incomes and expenses to various categories to prioritize and track your expenses. It helps you plan for emergency expenses and provides tools to help you set savings and financial goals. The app also offers free online classes to help guide you about money management.
It is found on both Android and iPhone and desktops. It offers a free trial for 34 days and a premium version with 4.5-star ratings on the Google play store and 4.8-star ratings on the Apple play store.
3. Cowrywise.
This is a budgeting app that helps plan, save, and invest money. With its save lock feature, users can lock their savings for a specific time and can also help to create a budget to avoid overspending. It is available on Android and iPhone platforms with 4.2-star ratings on the Google play store and 4.5-star ratings on the Apple play store.
4. Wally.
This is an app best for those who spend time abroad. It focuses mainly on budgeting to help avoid overspending. It helps to set saving goals and track your expenses and spending patterns. Its features are supported in most foreign countries as it manages most foreign accounts. It is available for both iOS and Android users with 2.4-star ratings on the Google play store and 3.9-star ratings on the Apple play store.
5. Empower FKA Personal Capital.
This is a budgeting app best for investors provided by nbkc bank. It helps to manage your finances while trying to build wealth as it provides insights into your net worth. It tracks your monthly income and investment funds by automatically connecting to your various accounts once you sign up to the app abe provides financial advice on investment. It is available on Mobile phones and desktops with 4.3-star ratings on the Google play store.
6. Mint.
This is the commonest type of budgeting app from Intuit for all and is used by all for budget saving. It automatically connects all your financial accounts from various organizations in one place. It offers subscription manager tools, tracks your investments, and provides tips on financial management. It offers a free and paid version which is available on both Android and iPhone and Windows with 4.3-star ratings on the Google play store and 4.8-star ratings on the Apple play store.
7. Piggy Vest.
It is the largest single online budgeting app based in Nigeria parented by Piggytech that offers various features including budgeting. It helps users plan, save, and track their expenses. With the app, you can set spending limits and receive notifications each time you exceed your budget. With its auto-saving feature, you can see multiple saving goals and save towards achieving your financial goals. It accepts all Nigerian debit cards and is available on both iOS and Android platforms with 4.5-star ratings on the Google play store and Apple play store.
8. Good Budget.
This is a common budgeting app that is a product of Dayspring Technologies that follows the envelope system and is ideal for couples and those interested in merging finances. It allows you to categorize your expenses and allocate them into virtual envelopes. The app also allows you to track your expenses and gives an overview of how much money is spent and left to help stay within your budget limit and understand your spending patterns. With its bill tracking features, you can set reminders to receive notifications for due dates on any bills. It offers free and premium versions and it’s available on Android and iOS platforms with 4.5-star ratings on the Google play store and 4.8-star ratings on the Apple play store.
9. Monefy.
It is an efficient budgeting and expenses tracker app owned by Reflectly ApS. It provides a detailed overview of your expenses to help understand your spending pattern. The app supports many currencies and multiple accounts. Even after creating a budget, you can share it across other multiple accounts. You can categorize your income and set budget limits to be on track and avoid overspending with 4.6-star ratings on the Google play store and 4.7-star ratings on the Apple play store.
10. Mobile Banking Apps.
Some mobile banking apps serve as budgeting apps. Although their primary feature is to perform financial transactions, some have features like categorizing your transactions, providing an overview of your expenses, setting spending limits, tracking expenses, and creating a budget. Although these features vary between banks and their apps which are available on both iOS and Android. Examples of these banks are Zenith Bank, GTBank, etc.
Conclusion.
It is important to note that some of these budgeting apps may offer additional benefits to their premium versions. Regardless, budgeting apps are a great way to start your journey toward financial independence. And whatever budgeting app you decide to choose, is a smart choice as finding what works best for you is the important thing.
Have you tried any of these apps?
Share your experiences with us in the comment section.
Written by Joy Ayomi. Writer for Detty Finance.
