Budgeting has never been an easy task. As time passes, things keep getting complicated and it’s difficult to track spending. Everyone needs to find a way how they can save money and still be able to maintain a decent lifestyle and stay out of debt. If you’re struggling with your finances and need help, there are various budgeting tools online that can help you.
What’s the best budgeting app? There are no simple answers to that question. The free budget apps that are available vary in their approach. Some of the answers to your questions will also depend on who you are, what your priorities are, and what stage you’re at in life. But there are some online budgeting tools which can be used by anyone.
Personal Capital
For those who want to adding tracking to various aspects of their budget, Personal Capital is an option. Your financial dashboard allows you to see everything that is going on in your financial life. You can see the big picture, and track your progress as you work toward your goals.
On top of that, you can track your investment portfolio, and even receive objective investment advice. If you want help actually managing your investments, you can get personalized ideas, as long as you are willing to pay a 1% fee.
However, the regular service is free, and you can manage your finances — and investments — with the help of this budgeting tool.
BudgetPulse
If you are wary of allowing an online app access to your accounts, you might consider BudgetPulse.
You don’t give away your account usernames and passwords, and you can track your spending and set goals. The ability to visualize your money is available with charts and graphs. On top of that, you can create financial goals to share with your friends and family. The social aspect can keep you accountable, as well as provide an opportunity for your loved ones to contribute to your objectives via PayPal or Amazon Payments.
Buxfer
Monitor your spending, and keep track of your upcoming bills with the help of Buxfer. This online budgeting tool is aimed at 20-somethings interested in getting their finances under control and starting out right. You can project your earnings and savings interest into the future, and use the information to plan your finances. You can break down your goals, setting short-term and long-term goals, and working toward them.
Additionally, Buxfer helps you manage group expenses. You can split different bills up, figure out who owes what, and even make payments online, taking care of IOUs with ease.
MoneyStrands
The threads of your financial life meet together with the help of moneyStrands. This software is one that can important your financial information from your banking institutions and credit issuers. Create a 12-month spending plan, and then use this software to keep you on track.
Schedule upcoming bills, and view projections of what your money should look like going forward. You can also use moneyStrands in different languages, and it comes with the ability for you to manage your finances in multiple currencies — something that is handy for the frequent traveler, or if some of your income comes from foreign sources.
Moneytrackin’
Once you know where your money is going, it’s easier to spot money leaks and change behaviors. Moneytrackin’ helps you see where it all goes. It also provides help with tracking and dividing shared expenses, and creating shared budgets. Moneytrackin’ also includes helpful tools for small business accounting. If you have a home business, this software can help you keep track of relevant income and expenses. It’s a great tool that can help you manage various aspects of your finances.
My Spending Plan
You can put together a budget to help you better live within your means. Quickly create a plan that helps you with long-term goals, as well as with short-term goals, including special events and more. This software makes use of the envelope system to help you plan your budget. My Spending Plan also sends you emails and alerts, and reminds you of bills that need to be paid. On top of that you can personalize your settings to see your own big picture. My Spending Plan also includes coupons and promotions that can help you save money and live within your means.
BudgetSimple
If you are looking for something straightforward and simple, BudgetSimple might be helpful. The main point of this budgeting tool is to help you get out of debt. You track your expenses, manage your bills, and learn how to live within your means. There are no frills with BudgetSimple, but it is one of the easiest ways to create a budget. Plus, you can view your progress with the help of charts and other visuals.
SavvyMoney
For those looking for a proactive approach to debt pay down and accelerate savings, SavvyMoney can help. The idea is that you start out by understanding your current situation. After putting together a picture of your current situation, you create a debt repayment plan based around what works best for you. SavvyMoney can help you stay on track, as well as keep up with your progress. You can even receive on tips on accelerating your pay down.
You Need a Budget (YNAB)
- Price: $84 per year
- Bank Sync: Yes
- Free Trial: 34-days
Why We Chose It
YNAB earns our pick as best overall because it offers detailed budgeting to track every single dollar with excellent support.
Pros & Cons
Pros
- Dollar-based budgeting helps you track every dollar
- Works with most computers and smartphones
- Valuable reports and reconciliation tools
Cons
- Annual or monthly subscription required
Overview
Affectionately known as YNAB, You Need a Budget is an extremely popular personal finance app.
The current version of YNAB packs in many features and improvements over earlier versions, and it intuitively teaches some solid budgeting practices. It runs on both Windows and Mac and it backs up data automatically. Budgets can be shared among multiple users because this app can connect to a huge range of devices like laptops, desktops, tablets, smartphones, and you can even connect it to an Amazon Echo for verbal budget reports from the app.
It might be one of the easiest apps out there as it was designed for budgeting beginners. If you’ve tried to budget in the past and failed, this could be the app that you need.
If you need help, you can sign up for classes with a live instructor. Failure is less of an option because the a YNAB function that will alert you if you stray from the budget you’ve created.
YNAB is a browser-based program, but it also offers Android and iPhone apps that sync data to your desktop. As of March 2021, it costs $11.99 a month or $84 for an annual plan.
Mint
For many, the undisputed heavyweight champion of budgeting tools is Mint. Since 2006 this popular platform has assisted over 20 million users smoothly manage their finances. And, that’s because it’s packed to the brim with features.
For starters, it links all of your financial accounts, such as checking, savings, and credit cards. It then automatically analyzes your spending by month, quarter, or year. From there, Mint will provide a graphical interface to see where your money is going by category.
Armed with this knowledge, you can painlessly construct a budget. Mint will even make customized smart suggestions for you as well. Furthermore, you’ll receive payment reminders, basic investment tracking, and unlimited credit scores.
Mint is available on desktop, as well as iOS and Android.
Trim
Trim isn’t your run-of-the-mill budgeting tool. There isn’t even a mobile app option. Instead, it’s an AI-assistant designed to help you save money. How? By negotiating your monthly bills.
You might be concerned that a robot has completely taken over your accounts. That’s not exactly true. Trim works with companies like Comcast, Time Warner, and Verizon to make sure that you’re getting the best possible rates. It can also identify and eliminate those mysterious charges that you’ve been paying each month without question.
Trim also analyzes all of your translations and will cancel any unwanted subscriptions. It also offers a debt payoff plan. And, through Trim’s Simple Savings feature, you can automatically you can automate your savings.
Conclusion:
It is difficult to keep track of your cash flow if you don’t use a good free online budgeting software. With the best free online budgeting tools, you can quickly and easily manage your earnings and expenses to figure out where your money is going and determine the status of your financial health.