Best Budgeting Apps to Save Money in 2024: Top Picks for Smart Savings

Managing your finances can be overwhelming, but finding the right tools can make a huge difference.

Budgeting apps have grown in popularity because they simplify the process of tracking your spending, setting savings goals, and staying on top of your financial health. Wondering which budgeting app can help you save the most money in 2024? We’re here to help you navigate through the best options available.

Budgeting apps cater to different needs and preferences, so it’s important to pick one that fits your lifestyle.

Some apps offer comprehensive features for detailed financial planning, while others are more straightforward for basic expense tracking.

Whether you’re looking to get out of debt, save for a big purchase, or just keep a better handle on your monthly expenses, there’s an app out there for you.

1) Mint

Mint was a popular budgeting app known for its ease of use and comprehensive features.

Unfortunately, it shut down on March 23, 2024.

Users loved Mint for tracking all their accounts in one place.

You could link your bank accounts, credit cards, and bills.

This helped you see your spending habits and manage your budget effectively.

It automatically categorized your transactions, which made it easy to stay on top of your finances.

Mint also had budgeting tools that let you set goals and track your progress.

You could create budgets for different categories like groceries, entertainment, and bills.

This way, you could see how much you were spending compared to your budget limits.

One great feature was the alerts.

Mint sent you notifications for bill due dates and unusual charges.

This helped you avoid late fees and spot potential fraud quickly.

Although Mint isn’t available anymore, many users appreciated its clean interface and useful features.

If you’re looking for alternatives, there are other apps that offer similar functionality.

For example, Sofi Insights is a good choice for managing your budget and tracking your money.

While it’s sad to see Mint go, there are still plenty of excellent budgeting tools out there to help you manage your finances efficiently.

2) YNAB (You Need A Budget)

You Need A Budget, or YNAB, is a popular app that helps you get control over your finances.

It’s based on a zero-based budgeting system.

This means you allocate every dollar of your income to a specific purpose, so nothing is left unaccounted for.

One key feature of YNAB is giving every dollar a job.

The moment you receive your income, you decide where each dollar will go—whether it’s for bills, groceries, or savings.

YNAB also encourages you to embrace your true expenses.

This means planning for larger, less frequent costs, like annual insurance payments or holiday spending, by setting aside a little each month.

Another strength of YNAB is its educational tools.

YNAB offers workshops and support to help you learn how to budget better and manage your money more effectively.

The app’s interface is user-friendly and provides handy visualization tools.

These can help you better understand your spending habits and see where your money is going at a glance.

Customer reviews are generally positive.

The app has high ratings, such as 4.8 stars on the Apple store.

YNAB’s pricing is $14.99 per month, which can be a great investment if it helps you save more money in the long run.

You can try it free for 34 days to see if it suits your needs.

Overall, YNAB is a solid choice for anyone looking to set specific financial goals and stick to a structured budget.

It’s not just a tool but a method to rethink how you handle money.

3) PocketGuard

PocketGuard is a great tool to help manage your spending.

It’s designed to be simple and easy to use, making it perfect for anyone new to budgeting.

One of the best features is its automatic categorization of your expenses.

This helps you see where your money is going without much effort.

PocketGuard also offers a feature called “In My Pocket.” This tells you how much disposable income you have after setting aside money for bills, goals, and necessities.

You can connect your bank accounts, credit cards, loans, and investments.

This gives you a full picture of your financial standing in one place.

PocketGuard uses advanced security features to keep your data safe.

It’s reassuring to know your sensitive information is well-protected.

Unlike some other budgeting apps, PocketGuard offers a free version.

This is helpful if you’re not ready to commit to a paid service yet.

For more details, check out this PocketGuard Budgeting App Review.

The app can also help you identify areas where you can cut back and save money.

It does this by analyzing your spending patterns.

If you’re looking to pay off debt, PocketGuard has features to help you track and manage that, too.

Lastly, PocketGuard’s design and user interface make it easy to navigate, even for those who are not tech-savvy.

This makes staying on top of your finances a breeze.

4) Goodbudget

Goodbudget is a solid choice for those who like the envelope budgeting method.

It’s easy to use and helps you allocate your money into different categories, or “envelopes.”

The app is great for couples or families.

You can sync your budget across multiple devices, allowing everyone to stay on the same page.

One of Goodbudget’s highlights is its accessibility.

It’s well-rated on both the App Store and Google Play, making it a favorite among users.

Goodbudget offers both free and paid versions.

The free version provides enough features to get you started, while the paid version offers more envelopes and extra features.

Using Goodbudget, you can plan your spending ahead of time.

This way, you know exactly where your money goes each month.

Interested in learning more? Check out the Goodbudget review.

5) Wally

Wally is a handy app for managing your budget, and it works with accounts in over 70 countries.

It’s designed to help you track your spending and savings in one place.

You can link your bank accounts to Wally, which lets you see your transactions automatically.

This makes it easier to keep an eye on where your money goes.

One of the cool features of Wally is its global compatibility.

Whether you’re in the US, Europe, or Asia, it can connect to your local banks.

Wally also offers insights that can help you set and meet your financial goals.

You can set budgets for different categories like groceries, entertainment, or travel.

The app’s interface is user-friendly and sleek, making it easy for you to navigate.

If you need real-time updates on your spending, Wally has you covered.

For those who like keeping things organized, Wally allows you to take photos of your receipts and categorize them.

This feature can be helpful during tax season.

If you’re concerned about privacy, Wally doesn’t store your bank login information.

This extra layer of security is great for peace of mind.

Wally is free to use, making it a budget-friendly option.

You can find Wally listed as one of the best budgeting apps of 2024.

This app offers you flexibility and useful features to stay on top of your finances without spending extra money.

6) Simple: Budget Planner

Simple: Budget Planner is an app designed to make budgeting easy for you.

It offers a clean and straightforward interface, so you don’t get overwhelmed with too many features.

One of the key features is its automatic syncing with your bank accounts.

This helps you track your income and expenses without much effort.

You can set up different budget categories based on your spending habits.

These categories help you see where your money is going and where you might need to cut back.

Simple: Budget Planner also allows you to set financial goals.

Whether you want to save for a vacation or pay off a debt, you can track your progress easily.

Another cool feature is the notifications.

The app sends you alerts for upcoming bills, so you never miss a payment.

You can also use the app for long-term planning.

It lets you forecast your future expenses and income, which is helpful for planning big purchases.

If you ever need to make adjustments, the app makes it easy to edit your budgets.

This flexibility is great for when your financial situation changes.

Simple: Budget Planner aims to reduce the hassle of managing your finances.

It’s a good option if you want a no-fuss way to keep your budget in check.

For more details, check out this guide on budgeting apps.

7) Daily Budget Original

Daily Budget Original is a great tool if you like keeping things simple.

This app helps you break down your spending into daily amounts.

You enter your income and fixed expenses, and it calculates a daily budget for you.

You’ll get notifications to remind you of your daily limit.

This can help you stay on track without feeling overwhelmed.

The app shows you how much you can spend each day without going over your budget.

Daily Budget Original also includes features like tracking your savings goals.

You can see how your daily choices impact your long-term savings.

It’s like having a financial coach in your pocket.

The interface is clean and easy to use.

You won’t get lost in a sea of features, which makes it perfect for those who want a straightforward budgeting experience.

If you don’t want to fuss with too many details, this might be the app for you.

You can download Daily Budget Original for free, but there are in-app purchases available.

This allows you to try it out without a big commitment.

If you decide to upgrade, you can unlock more features.

Daily Budget Original is available on both iOS and Android.

This means you can access your budget wherever you go.

It’s designed for busy people who want to keep their finances in check with minimal hassle.

For more information, you can check out reviews on various sites like Forbes or NerdWallet.

This can help you decide if it’s the right fit for you.

8) Mvelopes

Mvelopes was a budgeting app that used the cash envelope system in a digital format.

This method helped you allocate money into different envelopes for various expenses.

It was good for those who liked the idea of tracking their spending in a simple and straightforward way.

Unfortunately, Mvelopes discontinued its services on Dec. 29, 2022.

The app is no longer available for new users or existing ones.

If you were a fan of this app, you might be looking for other options.

Good news! There are some great alternatives to Mvelopes.

For example, Goodbudget follows a similar envelope budgeting approach.

You can check out more about it in this Forbes Advisor article.

If digital envelope budgeting is your thing, then Goodbudget can be a good replacement.

It helps you manage your finances by dividing your money into different categories, just like Mvelopes did.

For those interested in modern budgeting apps, you might want to explore other options like NerdWallet’s app.

This one helps track cash flow, spending, and even your credit score.

Remember to pick an app that fits your budgeting style and needs.

Mvelopes had its strengths but there are plenty of other apps that can help you save money and manage your expenses effectively in 2024.

9) Clarity Money

Clarity Money is a great app for anyone looking to get a handle on their finances.

It helps you track your spending, manage your subscriptions, and even find savings.

One of the standout features is its ability to cancel subscriptions you may have forgotten about.

This helps you save money without much effort.

The app also provides insights into your spending habits.

You can see where your money is going each month and make adjustments as needed.

Clarity Money connects to your bank accounts and credit cards, giving you a full picture of your financial situation.

This makes budgeting much simpler.

The app also offers a savings feature.

You can set aside money automatically for specific goals, helping you save without thinking about it.

Designed to be user-friendly, Clarity Money makes managing your finances less stressful.

The interface is clean and easy to navigate.

For more information on the best budgeting apps, you can check out NerdWallet’s list or USA Today’s recommendations.

If you’re looking for an app that simplifies budgeting and helps you save, Clarity Money is a strong contender.

10) Fudget

Fudget is great if you’re looking for something simple without the extra complex features.

It’s perfect if you want a straightforward way to track your spending and budgeting.

You can quickly add income and expenses in the app.

Its user-friendly interface makes it very easy to navigate.

You don’t need to link your bank account, which some people prefer for privacy reasons.

Fudget doesn’t focus on complex budgeting rules.

It just helps you keep track of what’s coming in and what’s going out.

This simplicity is one of the reasons many users love it.

The app doesn’t have ads, giving you a smooth experience.

It does offer a premium version with more features, though the free version has plenty to offer as well.

One standout feature is the ability to carry over balances from one budget period to the next.

This makes it easy to see how you’re doing over time.

If you need reminders or recurring expenses, Fudget has you covered.

You can set up items that happen every month, so you don’t have to enter them repeatedly.

Fudget works well on both iOS and Android.

Whether you’re on your phone or tablet, your budget is just a tap away.

For more info, check it out here.

Understanding Budgeting Apps

Budgeting apps help you manage your money better by tracking your spending, setting up budgets, and providing insights into your financial habits.

These tools can simplify the often complex process of personal finance.

How Budgeting Apps Work

Budgeting apps connect to your bank accounts, credit cards, and other financial institutions.

They automatically track your transactions.

This automation saves you from having to input data manually.

You can then categorize your spending into areas like groceries, dining out, and utilities.

The app will show you how much you spend in each category.

Some apps use visual aids like graphs and charts to display this data, making it easier to understand your spending patterns.

Notifications and alerts are also common.

They remind you of upcoming bills or warn you when you’re close to your budget limits.

Some apps even offer tips and suggestions for saving more money or better managing your finances.

Common Features of Budgeting Apps

Most budgeting apps include a range of features designed to help you stay on top of your finances.

Here are some of the key ones:

• Expense Tracking: This feature automatically tracks your transactions, so you always know where your money is going.
• Budget Creation: You can set up budgets for different spending categories. This helps you control how much you spend on things like clothes, entertainment, and groceries.
• Bill Reminders: Get notified about upcoming bills and due dates to avoid late fees.
• Financial Insights: Many apps offer insights into your spending habits. They use data to show you where you can cut back and save.
• Sync Across Devices: Most apps allow you to sync your data across multiple devices, so you can manage your finances on the go.
• Security Measures: These apps use encryption and other security features to protect your financial data.

Budgeting apps like YNAB and EveryDollar are designed to provide these features and make managing your finances easier.

For example, YNAB focuses on zero-based budgeting, while Goodbudget uses the envelope method to help you set spending limits.

Using a budgeting app can simplify and improve your financial planning.

Benefits of Using Budgeting Apps

Budgeting apps offer many advantages.

They help you save money regularly and simplify tracking your expenses.

This keeps your finances organized and transparent.

Saving Money Consistently

Budgeting apps make it easier to set and stick to savings goals.

These apps can break down your savings target into smaller, manageable chunks.

This way, you can save a little bit at a time without feeling overwhelmed.

Many apps offer features like automated savings.

For example, if you want to save $500 in three months, the app can automatically transfer a small amount from your checking account to your savings account weekly or bi-weekly.

This helps you save without even thinking about it.

Additionally, some apps offer alerts and notifications.

When you overspend in a category, you get a reminder.

This helps you make smarter choices and avoid unnecessary expenses.

Easy Expense Tracking

Keeping track of where your money goes can be a hassle.

Budgeting apps simplify this process by syncing with your bank accounts.

This means all your transactions are automatically updated in the app.

You can categorize your spending into different groups like groceries, entertainment, and bills.

Seeing a visual breakdown of your expenses helps you understand your spending habits better.

If you see that you’re spending too much on dining out, for example, you can cut back and save money for something more important.

Budgeting apps often come with customizable reports and graphs.

These visual aids make it easier to see trends and patterns in your spending.

Knowing where your money goes each month helps you plan better and reduce wasted money.

Frequently Asked Questions

Discover answers to the most common questions about budgeting apps for 2024.

Learn which apps are free, user-friendly, and suitable for couples as well as top recommendations for both iPhone and Android users.

Which budgeting apps are totally free to use in 2024?

Many budgeting apps offer free versions that cover the basics.

Popular choices like Mint and Credit Karma allow you to track expenses, check credit scores, and stick to a budget without spending a dime.

What’s the most user-friendly budgeting app for beginners this year?

For those new to budgeting, ease of use is key. EveryDollar is highly recommended for beginners because of its simple interface and step-by-step setup.

Can you suggest any budgeting apps that are great for couples?

If you’re budgeting with a partner, look into Goodbudget, which supports shared accounts and expense tracking.

This makes it easier for both of you to stay on the same financial page.

What are the top budgeting app choices for both iPhone and Android users?

Many apps work seamlessly on both platforms. PocketGuard and YNAB (You Need A Budget) are excellent choices and provide consistent experiences on both iPhone and Android.

Is there a budgeting app that comes out on top in 2024 according to user reviews?

Monarch Money has received high user ratings for its versatility and comprehensive approach to budgeting.

Many users appreciate the detailed financial insights it offers.

Should I consider splurging on a paid budgeting app or stick with the free ones?

Free budgeting apps like Mint offer robust features, but paid versions of apps like YNAB or Monarch Money might provide extra tools and insights that could enhance your budgeting experience.

Choose based on your specific needs and financial goals.