Sticking to a budget will help you save money for emergencies and retirement, as well as stash aside cash for important goals like a brand new home. It also prevents you from overspending. According to one study, U.S households that carried credit card debt in 2020 paid on average a little over $1,100 in interest fees. To keep your eye on the prize this year, we’ve rounded up the top five budgeting apps.
Goodbudget: A simple app that doesn’t force you to connect to a bank account, it uses the envelope system where monthly income is manually allocated into separate categories like groceries and utilities. It can be used across multiple devices so other family members can tap into the same budget.
Mint: A great all-around free app, this one has stood the test of time. It connects to both bank accounts and credit cards, and provides an in-depth view of transactions against your custom budget. It also grants you regular access to your credit score, and will alert you to any changes on it.
You Need a Budget: Best for the super-serious budgeter, the not-free YNAB app works on the zero-based system where every single dollar of income is allocated to an expense and category. Developed to get users out of debt, it syncs to credit cards and bank accounts, and is even accessible online.
HoneyDue: Built for couples to “outsmart money together,” this free app enables partners to connect and see each other’s credit cards and other accounts in order to support a single household budget. Monthly limits can be set, and it will send alerts when maximums are close to being reached.
Personal Capital: Best for investors and those planning for retirement, the free app allows you to track your budget and sync with bank accounts, as well as investments like 401(k)s and IRAs. You can add on investment management services for a fee, which is a percentage of the money being managed.
Call a member specialist at 800-422-5852 to see how we can help you reach your financial goals.