What is your biggest financial goal? Maybe you're trying to save up for an important purchase, pay off past debts, or simply be more conscientious about your spending habits. Almost always, a budget is an important place to start. And you have plenty of options to start the process. You can try keeping an Excel spreadsheet with a log of monthly purchases. Or perhaps take a more physical route, replenish your money In classified envelopes.
However, if you're looking for a way to track expenses that's more streamlined and for you smart foneA budgeting app worth trying. Keep in mind that usually when a financial app is offered for free, it is more aggressively monetized by the company providing it. Therefore, it may be advisable to subscribe to a paid tool for a few months to try out the user experience and cancel if it is not suitable.
Whether you're looking for a completely new way to approach your money mentality Or just trying to be a little more careful with those coins, these five apps focus on practical advice, assist with budgeting, and can help reduce your overall financial stress.
January 2025: This article was updated to reflect current details about budgeting apps.
It's hard to create a budget in your head, especially if no one told you about it. YNAB (You Need a Budget) Makes financial planning manageable. You'll be able to sync all your accounts, track your monthly spending, take control of your bills, and set aside savings for emergencies-all in one hubThe company offers online workshops 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 fit it into your budget.
Intuitive user experience provided by co-pilot What makes a finance app different. Once it's linked to your bank account, transactions are automatically organized into emoji-labeled groups. The app can suggest new amounts for budget categories based on past expenses and keep track of recurring payments. Acorns, Robinhood, and other apps connect with Copilot to help you keep track of any investments. For those who are overwhelmed by the idea of financial tracking, Copilot is a gateway into the world of money management. Unfortunately, the app is only available for iOS users. After a one-month free trial, an annual subscription costs $95.
The world of investing and returns can be daunting to a newcomer. Skip the appointment with the stockbroker and consider downloading chestnut instead. It simplifies the investing process by rounding every purchase you make to the nearest dollar and automatically investing the change into a diversified portfolio. The basic service costs $3 per month, and you can cash out your investment at any time.
If you're not ready to dive headfirst into the risky world of investing, Oportun (formerly called Digit) offers another way to grow your savings. It's an automated process just 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 your savings account. The app keeps track of your spending habits and your income, so it will only remove what you won't need. Long-term and retirement investments are also available through Oportun. You can try it free for 30 days, after which you'll have to pay $5 per month.
This is not a budgeting app, but it is free credit karma The Intuit-owned app can help you understand that credit score and how it's changing over time. Your credit score is very important: lenders, landlords and insurers may all want to check it. The number fluctuates and primarily tracks whether you make credit card or loan payments on time as well as how much of your allotted credit is used. The Credit Karma app aggregates reports from TransUnion and Equifax and then interprets the factors that affect your score. Although the app is good for score tracking, it is better to ignore in-app advertisers that offer loans based on your data.