What is your biggest financial goal? Maybe you're looking to save for an important purchase, pay off past debts, or just want to be more mindful of your spending habits. Almost always, the budget is the important place to start. And you have many options to start the process. You can try keeping an Excel spreadsheet with a monthly purchase log. Or maybe go the more physical route, Stuff your cash into classified envelopes.
However, if you are looking for a way to track spending that is more reasonable and suits your needs smartphoneA budgeting app worth checking out. Remember that typically when a financial app is offered for free, the company providing that app monetizes more aggressively. So maybe you should sign up for a paid tool for a few months to try out the user experience and cancel if it doesn't work out.
Whether you're looking for a completely new way to reach out money mindset or are just trying to be a little more careful with those coins, these five apps focus on practical advice, assist with budgeting, and can help ease your overall financial stress.
January 2025: This article was updated to reflect current insights about budgeting apps.
Creating a budget in your head is difficult, especially if no one shows you the terms. YNAB (You need a budget) makes financial planning manageable. You'll be able to sync all your accounts, track monthly spending, keep up with bills, and set aside savings for emergencies—all in one center. The company offers webinars that can give you the skills you need to get out of that pesky debt and increase your savings. After a 34-day free trial, YNAB costs $109 per year—but you can factor that into your budget.
Delightful user experience provided by Co-pilot makes financial apps stand out. Once connected to your bank account, transactions are automatically organized into emoji-labeled groups. The app can suggest new amounts for budget categories based on past spending and track recurring payments. Acorns, Robinhood, and other apps connect to Copilot to help you track every investment. For those overwhelmed by the thought of tracking their finances, Copilot is an accessible starting point into the world of money management. Unfortunately, this app is only available for iOS users. After a month-long free trial, an annual subscription costs $95.
The world of investing and profits can become confusing to newcomers. Skip the stockbroker appointments and consider downloading acorns instead of. It simplifies the investing process by rounding up every purchase you make to the nearest dollar and automatically investing the changing amount in a diversified portfolio. The basic service costs $3 per month and you can withdraw your investment at any time.
If you are not ready to dive into the risky world of investing, timely (formerly known as Digit) offers another way to build your savings. It's an automated process, like Acorns, but instead of focusing primarily on investing, it's geared toward saving money you already have. Every day Oportun withdraws money from your account to deposit into a savings account. The app tracks your spending habits and income, so it will only withdraw what it thinks you don't need. Long-term and retirement investments are also available through Oportun. You can try it free for 30 days, after which you'll pay $5 per month.
This is not a budgeting app but a free app Credit karma The Intuit-owned app can help you decode that credit score and how it changes over time. Your credit score is important: Lenders, homeowners, and insurance companies may all want to check it. This number fluctuates and primarily tracks whether you make your credit card or loan payments on time as well as how much of your allotted credit is used. The Credit Karma app collates reports from TransUnion and Equifax, then explains the factors that affect your score. While this app is great for tracking scores, it's better to ignore in-app advertisers offering loans based on your data.