Mobile-First Budgeting Apps: Manage Your Money on the Go
Hey there! I’m David, a financial coach who loves to share tips on budgeting and money-saving strategies for you and your family. Each year, I test out budgeting apps to find the best options, and today, I’m sharing the top picks for 2024. With Mint shutting down, many of us are searching for alternatives. In this article, I’ll introduce you to the best budgeting apps of the year, provide an overview of how they work, and share insights on why each might be the perfect fit for you.
Managing your finances effectively requires the right tools, and with the closure of popular apps like Mint, you might be wondering what the best budgeting apps for 2024 are. In this blog, we’ll explore top budgeting apps, including their features, pricing, and who they are best suited for. Whether you are looking for a simple zero-based budget tool or a more hands-on, detailed app, this guide will help you make an informed choice.
Key Explore
EveryDollar: The Best Zero-Based Budgeting App
Overview
EveryDollar is an easy-to-use, zero-based budgeting app designed by Dave Ramsey. It’s perfect for those who are just starting with budgeting, as it simplifies the process by helping you allocate every dollar of your income toward expenses. With a clean interface and customizable categories, EveryDollar is one of the most beginner-friendly apps out there.
Key Features
Free and Premium Versions: The free version allows manual transaction entry, while the premium version offers bank account linking and automatic transaction imports.
Customizable Budget: You can add, delete, and rename budget categories to fit your needs.
Paycheck Planning: Visualize when your money comes in and goes out, helping you avoid running out of funds.
One Login for Multiple Devices: Perfect for families or couples managing a shared budget.
Pricing
The premium version costs $79.99 annually, with an option to subscribe to Ramsey+ for $129/year, which includes additional resources like Financial Peace University.
Learn more about EveryDollar here.
Tiller: For Spreadsheet Enthusiasts
Overview
Tiller is the go-to app for those who prefer spreadsheets over traditional apps. It integrates with Google Sheets or Excel to automatically import your bank and credit card transactions into a customizable spreadsheet.
Key Features
Customizable Templates: Start with a basic template and modify it according to your needs.
AutoCat Feature: Automatically categorizes your transactions based on the rules you set.
Daily Updates: Transactions are imported once a day, and you can opt for daily email summaries of your accounts and transactions.
Pricing
Tiller offers a 30-day free trial, after which it costs $79 per year.
Empower: Best Free App for Tracking Wealth and Spending
Overview
Formerly known as Personal Capital, Empower is the top choice for those looking to track their wealth and spending for free. It allows you to link all your accounts, including bank accounts, credit cards, mortgages, and investment accounts.
Key Features
Wealth Tracking: Track your net worth, cash flow, and investments all in one dashboard.
Automatic Categorization: Transactions are automatically categorized, but you can make adjustments as needed.
Financial Planner Access: Empower also offers free consultations with a financial planner.
Pricing
Empower is entirely free to use.
Learn more about Empower here.
YNAB (You Need a Budget): The Best Hands-On Zero-Based Budgeting App
Overview
YNAB is for those who want to take a more hands-on approach to budgeting. Unlike other apps, YNAB focuses on the money you already have and helps you prioritize bills and expenses.
Key Features
Hands-On Budgeting: You must manually assign money to each category, helping you become more aware of your spending.
Customizable Budgeting: Add, delete, and rename budget categories.
Roll Over Funds: Easily roll over unspent money from month to month.
Detailed Reports: Get insights into your net worth, liabilities, and assets.
Pricing
YNAB offers a 34-day free trial, after which it costs $99/year or $14.99/month.
FAQs About Budgeting Apps in 2024
1. Why Did Mint Shut Down?
Mint, once one of the most popular budgeting apps, shut down due to changes in the financial tech space. Many users have migrated to alternatives like EveryDollar, Tiller, and Empower.
2. What Is a Zero-Based Budget?
A zero-based budget is a method where every dollar you earn is assigned a job, whether it’s paying bills, saving, or investing, leaving your budget balance at zero.
3. Which App Is Best for Beginners?
EveryDollar is an excellent app for beginners due to its simple interface and customizable categories. The free version is enough to get started, and the premium version offers extra features like bank linking.
4. What If I Prefer Using Spreadsheets?
If you prefer spreadsheets, Tiller is the best option. It links your accounts to Google Sheets or Excel and automatically imports your transactions, allowing for maximum customization.
Most of these apps offer free trials or versions:
EveryDollar: Free version available, with a 14-day premium trial.
Tiller: 30-day free trial.
YNAB: 34-day free trial.
Empower: Completely free.
For more insights, check out our in-depth reviews and tutorials for each of these apps in the links provided. Happy budgeting.
By using the right budgeting app, you can stay on top of your finances, achieve your financial goals, and save for the future.