Best Budgeting Apps of November 2024

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Best Budgeting Apps of November 2024

If making a budget seems daunting, you’re not alone. That’s why many apps do the grunt work for you. A good budgeting app can save you time and energy while helping you to spend smarter and save more.

CNBC Select reviewed over a dozen budgeting apps to find the best ones. To narrow down our top picks, we focused on those with unique budgeting features, high user ratings and a free trial or refund to test the app. (See our methodology for more information on how we chose the best budgeting apps.)

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Best app for planners

Quicken Simplifi

  • Cost

    $3.99 per month. No free trial, but users can request full refund within first 30 days.

  • Standout features

    Users can run customizable reports based on their spending, income and savings. Personalized spending plan adjusts in real-time.

  • Categorizes your expenses

    Yes, but users can modify.

  • Links to accounts

    Yes, bank, credit card and investment accounts and loans

  • Availability

    Offered in both the App Store (for iOS) and on Google Play (for Android)

  • Security features

    Financial data from bank servers transmitted using 256-bit encryption

Pros

  • Syncs with bank, credit card and investment accounts
  • Customizable reports based on income, spending and savings
  • Robust investments dashboard
  • Refund tracker
  • Credit monitoring

Cons

  • No free tier
  • No bill pay feature
  • Quicken data can’t be imported

Who’s this for? Simplifi by Quicken is ideal if you love using a budget to plan — be it saving up for a vacation or tracking your retirement nest egg. You can generate fully customizable reports based on your spending, income and savings to get a good look at where you stand and how you’re tracking. Simplifi also gives you a personalized spending plan based on your income and expenses and adjusts it as you spend in real-time. You can also add that month’s planned spending, like birthday dinners or anniversary celebrations.

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Best app for serious budgeters

You Need a Budget (YNAB)

  • Cost

    34-day free trial then $109 per year ($9.08 per month) or $14.99 per month (college students who provide proof of enrollment get 12 months free)

  • Standout features

    Instead of using traditional budgeting buckets, users allocate every dollar they earn to something (known as the “zero-based budgeting system” where no dollar is unaccounted for). Every dollar is assigned a “job,” whether it’s to go toward bills, savings, investments, etc.

  • Categorizes your expenses

  • Links to accounts

    Yes, bank and credit cards

  • Availability

    Offered in both the App Store (for iOS) and on Google Play (for Android)

  • Security features

    Encrypted data, accredited data centers, third-party audits and more

Pros

  • Offers a 34-day free trial, and college students get 12 months free
  • Designed to help you get out of debt
  • YNAB website claims average user saves $600 in their first two months and $6,000 in their first year
  • Syncs to your bank accounts and credit cards
  • Users can set goals, customize spending categories
  • Offers educational resources, such as budgeting advice and free, live workshops
  • Personal customer support
  • Security features include encrypted data, accredited data centers, third-party audits and more

Cons

  • Costs $109 per year or $14.99 per month
  • Customer reviews note that it takes longer to set up than other apps

Who’s this for? If you are a determined budgeter, you should consider the app You Need a Budget (YNAB). YNAB stands out for its zero-based budgeting system where every dollar is assigned a “job.” Whether it’s paying off your student loans, covering that month’s car payment, etc., users allocate every dollar they earn to something so no dollar goes unaccounted for.

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Best app for investors

Empower

  • Cost

    App is free, but users have option to add investment management services for 0.89% of their money (for accounts under $1 million)

  • Standout features

    A budgeting app and investment tool that tracks both your spending and your wealth

  • Categorizes your expenses

    Yes, but users can modify

  • Links to accounts

    Yes, bank and credit cards, as well as IRAs, 401(k)s, mortgages and loans

  • Availability

    Offered in both the App Store (for iOS) and on Google Play (for Android)

  • Security features

    Data encryption, fraud protection and strong user authentication

Pros

  • Free to use
  • Includes money-tracking dashboard, plus a net-worth tracker as well as a breakdown of your investment portfolio
  • Offers free investing tools, such as a retirement planner and an investment checkup tool
  • Syncs to your bank accounts and credit cards as well as other financial accounts
  • Offers The Currency blog for financial planning tips
  • Security features include data encryption, fraud protection and strong user authentication

Cons

  • Budgeting features aren’t as comprehensive as other apps
  • Investment management services come with cost

Who’s this for? Empower is a budgeting and net worth tracker all in one, making it the perfect choice if you want an investment tool that tracks your spending and wealth. Empower’s dashboard aims to offer you a holistic view of your finances with tools for both the short and long term.

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Best for being easy to use

Monarch

  • Cost

    $8.33/month (billed $99.99 yearly); $14.99/month (billed monthly)

  • Standout features

    Net worth tracker, investment portfolio tracking, goal creation and progress tracking, budgeting and expense tracking

  • Categorizes your expenses

    Yes, but users can modify

  • Links to accounts

    Yes, bank and credit cards, as well as IRAs, 401(k)s, mortgages and loans

  • Availability

    Offered in both the App Store (for iOS) and on Google Play (for Android); web version also offered

  • Security features

    Utilizes industry-leading security practices, according to Monarch’s website

Pros

  • Includes easy-to-navigate money-tracking dashboard, including a net-worth tracker and investment portfolio tracking and breakdown
  • Easily syncs to your bank accounts, credit cards and other financial accounts
  • Lets users easily create and prioritize major goals
  • Lets users add collaborators (like a financial advisor or partner) for free
  • Tracks recurring expenses

Cons

  • Not free to use
  • Recommendations in the “advice” tab are a bit generic

Who’s this for? Monarch is ideal if you’re searching for an easy-to-use platform as its website and app are both easy to navigate for a first-time user. The platform presents information clearly and doesn’t feel overly crowded. Plus, Monarch allows you to customize your dashboard so you’re always seeing what’s most important to you first.

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Best app for beginner budgeters

Goodbudget

  • Cost

    Free for 20 total envelopes; $10/month (or $80/year) for unlimited envelopes

  • Standout features

    Allows couples to use the envelope system digitally for budgeting, and allows couples to track their debt

  • Categorizes your expenses

    Yes, but users must manually input transactions since the app does not sync to your bank account

  • Links to accounts

    No, users must manually input purchases and transactions

  • Availability

    Offered in both the App Store (for iOS) and on Google Play (for Android) and as a version for laptops

  • Security features

    Information is secured using bank-grade 256-bit SSL

Pros

  • Free version of the app
  • Helps couples manage their money together, track spending and track debt
  • Ability to share budget with your partner
  • Digital envelopes help couples save for big goals that matter to them
  • Money management courses and resources available

Cons

  • Can’t connect bank accounts so users must manually enter transactions

Who’s this for? Goodbudget is the app to use when dipping your toes into budgeting. The app stands out for helping users utilize a digital version of the tried-and-true envelope budgeting method — a method where you budget by divvying up your cash into different spending categories with each category having its own envelope.

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Best app for over-spenders

PocketGuard

Information about PocketGuard has been collected independently by CNBC Select and has not been reviewed or provided by PocketGuard prior to publication.

  • Cost

    Upgrade to a Pocketguard Plus monthly subscription, for $12.99 per month, or a yearly subscription for $74.99 per year, which broken down equals $6.25 per month giving members an over all 50% savings.

  • Standout features

    Taking into account your estimated income, upcoming expenses and savings goals, “In My Pocket” feature uses an algorithm to show how much you have available for everyday spending

  • Categorizes your expenses

    Yes, but users can modify

  • Links to accounts

    Yes, bank and credit cards

  • Availability

    Offered in both the App Store (for iOS) and on Google Play (for Android)

  • Security features

    Major bank-level encryption, PIN codes and biometrics like Touch ID and Face ID

Pros

  • Syncs to your bank accounts and credit cards
  • “In My Pocket” feature uses an algorithm to show how much you have available for everyday spending
  • Users can create savings goals
  • Has bill payment tracker and bill negotiation feature (negotiated bills cost a fee)

Cons

  • Basic version costs $74.99/year and premium version costs $155.88/year
  • Some user reviews report that transactions are categorized incorrectly on occasion

Who’s this for? If you need something to hold you accountable and prevent you from spending beyond your means, PocketGuard is for you. The app notifies you whenever one of your spending categories is almost over its limit and when you’ve gone over budget. With these alerts, you can get a better idea of how much you can afford to spend.

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Best app for couples

Honeydue

Information about Honeydue has been collected independently by CNBC Select and has not been reviewed or provided by Honeydue prior to publication.

  • Cost

  • Standout features

    Allows couples to see both partners’ bank accounts, credit cards, loans and investments (and each partner can select what to share with the other) so you can manage money together and see everything at one glance

  • Categorizes your expenses

    Yes, but users can customize

  • Links to accounts

    Yes, you and your partner’s bank and credit cards

  • Availability

    Offered in both the App Store (for iOS) and on Google Play (for Android)

  • Security features

    Data encryption, Touch ID and multi-factor authentication

Pros

  • Free to use
  • Helps couples manage their money together, track spending, coordinate bills
  • Syncs to you and your partner’s bank accounts
  • Choose what accounts you want to share
  • Users set up monthly spending limits in each category and are alerted when they or their partner is reaching limit
  • Bill payment reminders
  • Chat and send emojis to your partner through the app
  • Offers joint bank account
  • Security features include data encryption, Touch ID and multi-factor authentication

Cons

  • Some reports of app being buggy and transactions not showing up immediately

Who’s this for? The Honeydue app is a great option for couples looking to budget together. Honeydue allows both partners to view each other’s bank accounts, credit cards, loans and investments, if they choose to share. It’s easier this way to see everything together versus logging into separate accounts, and it allows couples to see their progress on shared goals like saving up for a vacation or a down payment on a home. Plus, partners can use the app’s chat feature to text each other about specific bills directly within the app itself.

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More on our top budgeting apps

Simplifi by Quicken

YNAB

Empower

Monarch

Goodbudget

PocketGuard

Honeydue

How to create a budget

What is a budgeting app?

At its most basic, a budgeting app is a tool that helps you categorize and track your money. These apps often let you set financial goals, categorize transactions, and send notifications or reminders to help you reach your financial goals. Many also sync with your bank accounts to automatically update your financial information, giving you a real-time snapshot of your financial health.

How can budgeting apps be helpful?

Keeping track of budgets using spreadsheets can get confusing. This is where a budgeting app comes in.

Many budgeting apps can link directly to your financial accounts, meaning the information you see is always accurate and up-to-date. These apps can also provide different ways to view your financials, such as graphs or color-coding spending categories, allowing you to pick the option that makes the most sense. Some budgeting apps offer helpful tools like educational blogs or financial calculators which might appeal to newer users.

Keeping track of your money is critical for keeping up with your present expenses and helping you plan for future ones. Budgeting apps can help take some time and effort off your plate through educational resources, free investment tools, the ability to set and modify goals and more.

How do you choose a budgeting app?

Pros and cons of budgeting apps

Pros

  • Convenience: Budgeting apps typically allow you to see all of your financial data in one convenient place.
  • Tracking transactions: These apps typically make it easy to see where you are spending your money and in what category. This helps you get a handle on where you may need to cut back, or where you have room to splurge a little.
  • Goal setting: Many budgeting apps allow you to create financial goals and custom spending categories to track and hit your financial targets.

Cons

  • Pricing: Some budgeting apps have free-to-use basic features, but you have to pay to access its premium features. Other apps aren’t free at all. This can be a turn-off for those who don’t intend to spend money on a budgeting platform.
  • Tedious set-up: Sometimes it can take a while to make sure all your accounts are synced and that the platform is fully set up. Over time, you may even need to reconnect some of your accounts to view updated progress.
  • Privacy: Since budgeting apps often link to your finances, it’s important to research data and privacy offerings before entering personal information.

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Our methodology

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.


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