The Only 6 Budgeting Apps You Need to Consider (2024)

FAQs

What is the #1 budgeting app? ›

Research the tools you use.

Though reading the fine print for every app you use may seem tedious, it's a good idea to do a bit of research before you enter your bank account information to any website or app. Review the terms and conditions page and look up online reviews of the providers from reliable sources.

1. Quicken Simplifi. The Quicken Simplifi app offers a wealth of features, including customized reports and personalized spending plans. Once you import data like your bank account and billing information, the Simplifi app allows you to track income and spending, manage savings goals and stay on top of bills.

Mint will go offline March 23, 2024.

Intuit®, which owns Mint and other personal finance platforms like QuickBooks® and TurboTax®, suggested users migrate to Credit Karma, which it also owns. But that's far from the only option. Budgeting apps are a great way to get a grip on your finances.

Key Takeaways. The 50-30-20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should dedicate 20% to savings, leaving 30% to be spent on things you want but don't necessarily need.

What is the $1 rule? The $1 rule is my spin on the age-old cost-per-use idea, specifically calling out a dollar as the benchmark. Before buying an item, figure out how many times you'll use it. If it breaks down to $1 or less per use, I give myself the green light to buy it.

The most common in my practice is a 6+6 budget that shows six months of actuals and six months of forecasts. As the year progresses, forecasts should become more accurate. When they don't, it's time for a conversation. Mid-fiscal-year budget recompilations are a burden for not just business leaders but finance staff.

We like the Goodbudget app because it's optimized for envelope budgeting as a couple or family. You can sync a shared household budget with more than one person, and the free version offers plenty of functionality.

Is Mint safe to use? Mint is a personal finance app that is safe to use. The company has safety features including multi-factor authentication and security scanning tools to keep your account and personal data safe. Mint is free to use and includes many useful features.

What are the disadvantages of budgeting apps? ›

Cons. Lack of commitment and attention: Many people who utilize a budgeting app have good intentions when setting up their accounts. Yet, research has shown a lack of commitment and follow-through regarding maintaining the goals set.

Is Rocket Money better than Mint? Rocket Money isn't necessarily better than Mint, and Mint isn't necessarily better than Rocket Money. Both Rocket Money and Mint provide helpful financial services if you want to create budgets or save up money for specific goals.

Mint is available in both a free and paid version. The paid version is called Mint Premium and costs $4.99 a month.