Best Budgeting Apps

The thought of creating and sticking to a budget can be daunting, but it doesn’t have to be. With today’s technology it couldn’t be easier to formulate a budget you can stick to, and there are several apps out there, each with its own unique features, that make it super simple to track your spending and see how your financial actions correspond with the budget you set up. Here are some of the best apps to use to track your spending in 2020:


Mint – This app is good for personal finance newbies, promising to “bring all of your money to one place, from balances and bills to credit score and more” to help you manage your finances. Sign up is free, and you can easily create a budget (or budgets) and get suggestions based on your spending habits. You can also check your credit score and get suggestions on how to improve it.


Wally – This is a free app just for budgeting, offering to help you “control your money seamlessly”. Wally lets you balance your income and expenses and helps you understand where your money goes so that you can set and achieve your financial goals. They promise “a simple, seamless, and intuitive tool to manage your personal finances”.


Albert – A “set it and forget it” app, Albert does the work for you. This app monitors your balances, bills and spending, and if you risk overspending, the app alerts you. It has an automatic savings feature with no fees, free withdrawals, and up to 1% annual cash bonuses just for saving. It also offers guided investing with registered advisors and a custom portfolio you can get started with just $1 and no experience needed.


Mvelopes – There are three versions of this budgeting app based on the tried and true envelope system; Mvelopes Basic ($6/ month) which connects your bank accounts, lets you quickly create an online envelope budget, and take control of your finances, Mvelopes Plus (starting at $19/ month), which lets you see where you’re overspending and uses the app, a Learning Center, Debt Center, and quarterly coach check-up to help you develop a long term plan, and Mvelopes Complete (starting at $59/ month) offering a “complete guided experience” including monthly coaching calls.


EveryDollar is a budgeting app tailored for zero-based budgeting, which is a method where your expenses equal your income. The idea is to give every dollar a job to do, so that there’s no leftover dollars floating around with nothing to do. With the free version, you can create a financial transaction each time you spend money to account for it in your budget. For a more streamlined experience you can upgrade to EveryDollar Plus, which connects your bank account with your expenses. This upgraded version is $129.99 per year.


These personal finance tools make it easy to see how much, and where, you’re spending, and get control of your finances. The best way to see where your money goes is to track it, and these apps help you do that. Then, when you see your spending patterns, you can tweak as necessary to reach your financial goals.