Getting a boost of energy when your paycheck clears is one of the best feelings after working hard. But soon enough, the money in your account disappears, leaving you feeling dull again. However, there’s an easy solution to this problem. By monitoring your spending patterns and sticking to a budget, you can save more from the same amount of earnings. In the past, budgeting was a tedious process that required manually adding all expenses, which could lead to confusion at the end of the month.
Nowadays, personal finance budgeting apps can be your savior. With these apps, you can easily manage all your expenses from your smartphone. Smartphones are ubiquitous and have the power to connect us with the rest of the world. Managing your expenses, expected income, and savings has never been easier. Budgeting is not as difficult as it sounds, all you have to do is adopt a modern version of bookkeeping. By keeping records of your spending, you can identify patterns in your expenditures and eventually save more money from your monthly income. Below are the best budgeting apps of 2018 that we recommend.
Mint
Pros
Mint, designed by Intuit, is the most popular budgeting app that provides its customers with a variety of features. Its popular features include:
- Keeps bills and money all in one place
- Sends alerts and reminders for bills
- Creates budgets
- Facilitates meeting your savings goals
- Prepares reports and charts every week
- Monitors your credit score
- Manages your portfolio and finances together
- Offers a secure app with multi-factor authorization
Cons
- Issues in updating have been reported by customers
- Problems with linking to a few financial institutions
- Access to all features only available through the web version
Platform for Mint
- IOS
- Android
- Apple Watch
Software Requirements
- IOS: 10.0 or later
- Android (depending on your handset)
Cost
You Need A Budget (YNAB)
Pros
- Bank Syncing
- Real-time access from your mobile phone
- Freedom for debt paydown
- Makes goals more attainable by tracking them
- Gets proper reports and summaries
- Live support and personal support
- Easy to use
- Reported as the best app for getting out of debt
Cons
- Fewer features compared to other apps
- No reporting for investments
A Platform if You Need A Budget
- Android
- IOS
- Apple Watch
Software Requirements
- Android: 5.0 and up
- IOS: 9.0 or later
Cost
- $6.99 per month
Wally
Pros
- Reported as the best app for tracking expenses
- Unprecedented insights
- Location-based speed
- Smart notifications
- No ads
- Recurring income and expenses
- Store photos of receipts
- Exports data in CSV form
Cons
- Less user-friendly
- Limited review section
- Does not sync with bank accounts
Platform for Wally
- Android
- IOS
Software Requirements
- Android: 4.0 and up
- IOS: 9.0
Cost
Acorns
Pros
- Maintains portfolio
- Facilitates investing in your budget
- Tracks your progress
- Withdraw anytime
- Best app for painless saving
Cons
- Commissions are deducted from accounts less than $5000
- Low investment opportunities
Platform for Acorns
- Android
- IOS
- Apple Watch
Software Requirements
- Android: Varies with device
- IOS 10.0 or later
Cost
- $1 per month for an account managing less than $5,000
Level Money
Pros
- Easy setup
- Syncs with multiple bank accounts
- Syncs with various credit cards
- Money insight summaries and reports
Cons
- Not ideal for variable income
- Does not provide advice
A platform for Level Money
- Android
IOS
Cost
- Free of cost but not for fluctuating income