Top Four Budgeting Apps to Manage Your Money in 2023

No of views 31 Views

Like Article

Do you wish to achieve your financial goals with high accuracy? Are you looking for some of the best budgeting apps that help you manage money digitally? Well, you have certainly landed on the right webpage. This blog tells you about the four best budgeting apps. You can use them to achieve all your targets in time.

Four Best Budgeting Apps

1. Mint : Budget Tracker and Planner

With more than 20 million users, Mint is the choice of millennials. It is free and designed by Intuit – a renowned fintech company.

Using Mint, you can link all your accounts, such as Cash Accounts, Credit Cards, Investments, Bills, Loans, etc. It allows you to have complete control over all your finances based on which you can formulate better personal finance strategies.

A complete picture of your portfolio also allows you to determine whether your asset allocation targets are met.

Mint presents you with all the financial information lucidly in visually appealing, informative, and attractive charts and graphs.

It also organizes your money and even prepares an ideal budget for you. Furthermore:

• This app regularly checks your credit score and keeps intimating you the same
• We often forget bill payments and then bear late fees – This app reminds you of the overdue bill payments
• Frauds, strange and suspicious activities are also intimated to you so that you can take early actions

A few drawbacks

Mint may be the best, but not perfect. It does have a few flaws and issues that the customers often complain. You can find the list of some issues reported by its users below:

• The customer service offered by Mint is not up to the mark and leaves many customers dissatisfied
• This app requires access to all your banking information. Hence, if you are uncomfortable giving unrestricted access to Mint, you can look for alternatives.
• The network of this app is still not that big and leaves certain smaller banks and credit unions. As a result, you cannot link them.

2. YNAB (You Need a Budget)

Do you wish to gain total control over your money? Well, the YNAB is here. That is how the founder company advertises this app.

Based on the envelope method, it is an American budgeting app that operates on the four-rule-method. These are:

• Rule 1: You must make better buying choices and think before buying. Haphazard buying is detrimental to financial health and might delay your financial goals.
• Rule 2: Rather than postponing your bills, you should pay them immediately. It will prevent you from the burden of late fees and associated interest on late payments (if applicable)
• Rule 3: Be flexible and adjust your budget. It will help you in meeting contingencies. The pandemic was a one-off event, but anything similar can happen.
• Rule 4: Savings is the only way following which you can achieve your goals. So, save money, and let it age. It will help you to enjoy the benefits of compounding.

It differs from the other budgeting apps and even educates its users about different financial skills, good spending habits, managing debt, and even ways to create perfect budgets.

If you wish to use this app, you will get a 34-day free trial period. Then you will be charged USD 6.99 per month – billed annually.

3. Wallet

Next on our list is the mobile app – Wallet. It is like most of its counterparts and presents you with a financial overview in an appealing way.

If you use the paid version, Wallet will automatically get linked with your bank account and fetch data from it. Whereas free users get an option to upload data on the app. You can also add your family members to this app and make it a single place for managing the money of all the family members.

Let us have a look at some of its distinct features:

• It allows you to make personalized budgets and manage your debt
• The app takes pictures of your receipts. You can archive them.
• It also manages all your rewards and loyalty cards.

This app guides its users on how to set financial goals. Post this – you can track your expenses and try to achieve that goal in the assigned time.

It comes in both free and paid versions, which costs:

• USD 4.99 monthly
• USD 28.99 annually

4. Pocket Guard

Uncomplicated – Simple – But loaded with the best features. The pocket guard allows you to link all your accounts but in an easy way.

It has an easy-to-understand interface that allows you to have a real-time track of your bank accounts and credit cards. It makes you spend money smartly, and you are always aware of the red zone you cannot cross.

This app presents an overall financial view of what is left after paying essential bills and saving money.

You can use this app for USD 3.99 monthly or pay USD 34.99 annually.

News of GTA is a hyper-local news-based media agency covering the Greater Toronto Area. Besides the latest local news and developments, we also offer educational blogs. Keep reading more such articles in our Money section.