No matter how good you are at managing your personal finances, there will always be some room for improvement. However, with the help of the best budgeting software Canada, it is easier than ever before to budget your finances. Personal budgeting software makes it easy to keep track of all your expenses and earnings, helps you plan for the future and much more.
Personal budgeting software Canada is mandatory for you if you want to gain control of your finances. Most of us know the basics of managing our money but we could use some help either way. Through numerous options available online, I’ve hand-picked the best personal budgeting software Canada has to offer.
Best Personal Budgeting Software Canada Canada’s best personal budgeting software is a great way to budget, save and get out of debt. It’s simple to use, quick and easy to set up. Also scales well if you want to send in multiple transactions at once.
Budgeting software can help you track your expenses, ensure bills are paid on time, and stay on top of your personal finances. There are many free budgeting apps available to Canadians who want to save money and reduce debt. Whether you’re looking for a simple way to keep tabs on spending or investing in a premium service that offers additional features like mortgage forecasting, we’ve got you covered with our list of the best personal budgeting software Canada has to offer!
What do budgeting apps do?
Many budgeting apps do a lot more than just help you track your spending. These Canadian budgeting apps also allow you to:
- Automatically set spending limits
- Pay down debt
- Analyze expenses
- Contribute to your savings
They can also help you grow your savings and put your money to work on autopilot through scheduled savings and investments.
Personal finance apps can often be synced to your financial institutions, allowing you to safely and securely monitor your personal bank accounts, investments, and credit card profiles. Some of the apps even allow you to link to family members’ accounts to help you to keep household expenses in check and make shared bill payments quickly and easily.
1. YNAB (You Need a Budget)
YNAB is the best budgeting app available in Canada. It’s been the most popular personal finance software for years, and it’s easy to see why. YNAB helps you stay on a budget by making it simple to categorize your expenses, and it makes saving money easier than ever with its simple 3-step spending plan:
- Input your income for each paycheck
- Assign each dollar a job (i.e., groceries, rent/mortgage, etc.)
- Spend only what you assign
2. Mvelopes Personal
Mvelopes Personal is one of the best personal budgeting software solutions out there, and it works for any budget size. It’s not compatible with Canadian financial institutions, though—if you want to pay your bills using Mvelopes, you’ll have to enter them manually into the software. If this isn’t a problem for you, however, this program offers several advantages over other programs on our list. For starters:
- The free trial lasts 30 days instead of 14 days like Mint or Personal Capital/MoneyLion (which also don’t work with Canadian institutions).
- You can use Mvelopes on PC or mobile devices (iOS and Android). You can also sync all of your accounts together so that they’re organized on one screen instead of spread out across different apps.
- Like Buxfer before it was acquired by Intuit Inc., Mvelopes allows users to customize their envelope budgeting system in whatever way they want while still tracking their spending habits and keeping them accountable through friendly emails sent directly from the app itself!
3. Mint
Mint is a free budgeting app that helps you track your spending and set goals. It’s easy to use, but also has some advanced features that make it great for people who have been using other personal finance software for years. The interface is simple and intuitive, so even beginners can easily get started on the right foot with Mint.
One of the best things about Mint is its ease of use: you can add all of your accounts in one place, then connect them all together so that they update automatically at the end of each day—or whenever else there’s an update available in your account history. This means that if an account has been closed or merged with another one during the last few months (or even years), Mint will catch up instantly as soon as it sees a new transaction from this account being made into another one in its system—which makes keeping track of everything much easier than doing it by hand!
4. Truebill
Truebill is a budgeting app that helps you manage your money.
Truebill is a subscription service, which means you pay one monthly fee and then Truebill connects to your bank accounts and credit cards to track cash flow. It also tracks bills and subscriptions in order to help you save money on them by finding better deals elsewhere. Truebill has been featured on Forbes, GQ Magazine, Lifehacker, Inc., TechCrunch and more!
The best part about using this app is the money saving feature it offers users: users can see how much they can save on their subscriptions by comparing rates from other providers through an easy-to-use interface. Users can also receive free credits for referrals – so share with friends!
5. PocketGuard
PocketGuard is a free app that connects to all your accounts and creates a spending plan based on your income and spending. It will suggest a daily spend limit based on your income, then limit any account you add to the program to that amount. You’re also able to create multiple budgets for different types of expenses (like groceries or dining out) if you want more control over how much you spend in each category.
If you’re worried about being able to stick with such tight boundaries, don’t worry—PocketGuard has some features built in to help: it can send reminders when you go over budget; set up notifications for specific transactions; send alerts when funds are low or overdrawn; turn off certain categories after reaching a predetermined amount; and even block access from apps like Netflix so they won’t tempt you into overspending.
These budgeting apps are the best for Canadians
- These apps work in Canadian dollars.
- These apps work with Canadian banks.
- These apps work on a Canadian device.
- These apps are tailored to the Canadian tax laws, marketing laws and regulations, etc.
Mint App
Mint is one of the best budgeting apps on the market. It’s free to use and allows you to connect all of your financial accounts through a single app, which makes it easy to track spending across multiple accounts.
Mint offers a free credit score, which can help keep you informed about how healthy (or unhealthy) your credit is.
The Mint app also has smart money management features that allow you to set goals, track spending habits and more.
Check
If you’re looking to make your financial life simpler, check is a great app. It lets you spend without the plastic and has all of the features of other personal finance apps, but with one major difference: no fee. Check is available for Canadian customers and is free to use.
In addition to making transactions, check allows you to instantly transfer money between accounts or pay friends using just their email address or phone number (similar to Venmo). You can also set up recurring payments from your checking account and split bills with other check users so that everyone pays their fair share.
Check isn’t accepted at every merchant, but it works in over 40 million locations across Canada so there’s still plenty of options for spending your money. Plus, it’s FDIC insured so that if something goes wrong with your bank account thanks to a misplaced payment or unforeseen circumstance like fraud, you won’t lose any savings in case something goes awry with Check itself!
PocketSmith
PocketSmith lets you manage multiple accounts, multiple currencies, and multiple budgets. You can use it to plan for the future by creating savings goals or setting up an emergency fund. PocketSmith is also great at keeping track of your income and expenses in real time—and it syncs with your bank and credit card accounts so that all the information will be up-to-date when you need it.
The free version offers basic budgeting features; however, if you want to take advantage of everything PocketSmith has to offer (including goal planning), then it’s worth paying for a monthly subscription or getting a discounted annual subscription package.
YNAB (You Need A Budget)
If you’re looking for a budgeting app, YNAB (You Need A Budget) is the way to go. YNAB allows users to create a budget and track spending in real time. The app tracks where you spend money, so it will make it easier for you to see what areas of your budget are out of control or need more attention.
YNAB also helps protect against overspending by providing insights on how much cash is available in the account at any given time (the “account balance”). This feature helps users avoid those inconvenient moments when they need cash for something urgent but don’t have enough in their accounts because they spent too much earlier in the month on other things.
Goodbudget
Goodbudget is a zero-based envelope budgeting system. It helps you manage money, save and stay on top of your finances by assigning each expense a monthly amount that you can spend as needed.
Goodbudget is ideal for couples, families and roommates who want to keep track of shared expenses. The app allows you to create budgets in advance and add money to them over time or manually when it’s needed.
It also includes features like bill reminders, scheduling transactions and exporting data into CSV files so that you can import into third party apps like Excel or Google Sheets if needed.
Mvelopes
Mvelopes is one of the best budgeting apps because it’s easy to understand, and it automates the process of tracking your expenses.
The envelopes budgeting system works so well because it uses a visual representation of your finances that makes it easier for you to see how much money comes in, goes out and what you have left.
With Mvelopes, you can create up to five different budgets with allocate funds between them based on how much money you want to spend in each area. For example: if I want to save $200 per month for retirement but still be able to go out and enjoy myself occasionally, I could set up two separate envelopes – one that covers my monthly bills (mortgage/rent) and another envelope where I put money aside for fun activities like dining out or going on vacation once per year. This way I only take out enough cash from my checking account when needed instead of having an actual transaction occur every time I buy something new with my debit card!
Wally
Wally is a budgeting app that tracks your income and expenses. It also allows you to set budgets, track your spending, and see how much money you have left in your account. You can use Wally on both iOS or Android devices.
The app lets you create expense categories so that when you make a purchase, it can automatically classify where the money went. For example: if I buy groceries at the store today for $50, that sum will be automatically put into my food category. This way all of my expenses under one umbrella are easily categorized and easy to compare against each other at any time during the month/year/etcetera (or whatever timeframe).
Expense IQ-Expense Manager and Budget Planner
Expense IQ is a personal finance app that provides a snapshot of your finances at any given moment. It enables you to budget for short-term and long-term goals, and it can create multiple budgets.
It’s also got some pretty handy features like the ability to generate reports to help you see where your money is going so that you can make adjustments when necessary. And if you’re the kind of person who likes having their financial information available on multiple devices, Expense IQ allows users to download it on up to three devices—which could be useful if you’re traveling or want some extra security from hackers trying to access sensitive data from your phone or computer.
Fudget app
The Fudget app is free and available on both iPhone and Android. It’s the perfect choice if you’re looking for a budgeting app that’s simple and easy to use, with no hidden fees or surprises.
Fudget offers a premium version for $1.99 per month or $19.99 per year that offers more features than the basic version (such as custom budgets), but I found that the free version was all I needed for my personal budgeting needs. You can do quite a lot with this app, including:
- Tracking your spending
- Creating multiple budgets
- Setting up alerts when you go over budget or reach a certain amount of money in your account (for example, sending an email alert when your balance drops below $50)
Spendee app
Spendee is a personal finance app that helps you track your spending, manage your budget and save money.
The best thing about Spendee is that it’s free to download and use. You can sync your bank accounts, credit cards and other financial services through the app so that you can easily keep track of all of them in one place. You can also connect other accounts like PayPal or Venmo if you like.
These are the top budgeting apps in Canada.
- Mint: This is a free app that provides you with budgeting advice and helps you manage your finances. You can link it to your bank accounts, credit cards and other financial institutions in order to keep an eye on them all at once. Mint provides information on how much money you have left to spend over the next week or month, so it’s great if you want an overview of where all your money is going over time.
- Check: This app allows users to set themselves a monthly spending limit, which will alert them when they’re close to reaching it by sending emails or texts warning them about their impending overdrafts (this feature requires payment information). Users also get access to personal financial management services like bill payment reminders as well as debt management tools such as balance transfer options and assistance from certified advisors who are ready at any time via phone call or chat session if needed!
Conclusion
Everyone agrees that managing your money is important, but most of us haven’t developed a system to help us achieve that goal. You need to have a budget to see what you spend and where you spend it, but maintaining a budget can be effortlessly complex and time-consuming.
With more and more Canadians turning to personal budgeting software, it can be difficult to know where to begin. The best personal finance and money management software can help you stay on top of your finances with ease, whether you’re looking for free or paid options.