Ready to transform how you handle your money? The best budgeting tools are designed to simplify managing your finances.
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If you’ve ever found yourself scratching your head at the end of the month, wondering where all your money went, you’re not alone.
We’ve all been there, trying to make sense of our cash flow and how to manage money better. That’s exactly why I’m diving into the world of budgeting tools today.
These handy budgeting tools are not just about keeping track of your expenses; they’re about unlocking the secret to meeting your savings goals without breaking a sweat.
Whether you’re saving up for a dream vacation, a new gadget, or just aiming to keep your finances in check, this list has a budgeting tool that can help you.
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Table of Contents
Key Takeaways
- Digital tools are all about making life easier with automation and convenience at your fingertips.
- Budgeting apps can often sync to your bank account, credit cards, loans, and more to get a better picture of your cash flow.
- You can also use spreadsheets to manage your money with more hands-on review.
- If you’re someone who likes to feel the paper between your fingers, a budgeting template lets you get up close and personal with your financial planning, giving you total control.
- There is no need to shell out cash to budget your cash. There are free budgeting apps like Empower that offer cool features like keeping an eye on your bank account.
Budgeting Tools
Whether you’re juggling monthly bills, trying to make sense of your bank accounts, or just stepping into the world of personal finance, here are some tools to get your budget started:
1. Empower (previously Personal Capital)
Empower, formerly Personal Capital, isn’t just any free app. It’s like your financial command center, ready to give you the lowdown on your money.
You can keep an eye on all your financial accounts – from bank accounts to credit cards and even your retirement and mortgage accounts, all in one place with this budgeting app.
It also lets you create custom categories for your spending so you can track exactly where your money is going each month in a way that makes sense to you.
Sounds pretty neat, right?
Empower shines as one of the best budgeting apps out there, not just because it lets you monitor your money with ease, but it also doubles as an investment tool.
Check out my in-depth Empower Review to see why it’s my #1 pick for digital budgeting!
Top Personal Finance Software
Empower
Get clarity on your money, with tech you can trust. See all your accounts in one place, including your investments. And go deeper with our planning and analytics tools.
Get FREE Tools Now
2. YNAB
Are you ready to give every dollar you earn a mission? YNAB (You Need A Budget) is a budget app that is available on both Google Play and the App Store.
Thanks to its nifty zero-based budgeting system, you get to create savings goals and plan expenses with laser precision.
It actively helps you connect your bank accounts, including checking, savings, credit cards, and loans, ensuring you have a holistic view of your financial landscape.
And guess what? You can take this budgeting powerhouse for a spin with a 34-day free trial!
If it feels like a match made in financial heaven, you’re looking at $99 a year or $14.99 a month – a small price to pay for peace of mind and financial control.
Check out why I think it’s worth the cost with my honest YNAB Review!
YNAB
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3. Quicken
If you’ve ever felt like you needed a finance degree to manage money and track your spending, credit card payments, and investments, Quicken is about to be your new best friend.
Whether you need to see money across multiple financial institutions with custom reports, track your expenses as they happen, or want educational resources, Quicken’s got your back.
And when it comes to budgeting resources, it’s a powerhouse, allowing you to create personalized budgets that really stick.
Plus, with top-notch security features like data encryption and multi-factor authentication, you can sleep easy knowing your financial info is locked up tighter than Fort Knox.
Yes, there’s a monthly or annual fee, but the packages range from $2.39 – $5.99 per month- think of it as investing in your financial peace of mind.
To read more about its packages and what it has to offer, read my full Quicken Review here.
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4. Goodbudget
Goodbudget puts a digital twist on the classic envelope system that’s making waves in the budget apps world.
No more actual envelopes lying around- instead, you get digital ones that are a breeze to manage.
Goodbudget is all about hands-on management and dividing your money into these envelopes, with designated roles for what the money is for.
Since it doesn’t automatically sync with your financial accounts, you’ll need to punch in your expenses manually, which will help make sure your expenses don’t go over your budget limits.
The free version gives you 20 envelopes to play with and a whole year of account history to look back on.
If you’re all in and want to take things up a notch, the premium version has your name on it. For just $8 a month ($70 annually), you unlock unlimited envelopes for every expense you can think of.
5. Every Dollar
Every Dollar is a budget app that’s all about giving every single one of your dollars a job to do.
If you’re into zero-based budgeting, where not a penny goes unaccounted for, this app might just be your financial soulmate.
Starting with the basics, the free version of Every Dollar gets you in the driver’s seat of your finances.
You manually add your income and expenses, categorize your cash flow to see exactly where your money’s going, and even set up those oh-so-important bill reminders.
It’s like having a personal dashboard for your money right on your mobile device. And yes, it’s got those essential security features to keep your financial data safe and sound.
There’s also a premium version of Every Dollar. It introduces the convenience of syncing transactions directly from your savings accounts, account balances, and credit cards.
6. PocketGuard
PocketGuard is a budgeting app that’s all about keeping your finances straightforward and stress-free. This app isn’t just about showing you the numbers; it’s about giving you insights.
With features like a transactions list, a colorful spending pie chart, goal setting, and customizable budget categories, managing your money becomes less of a chore.
PocketGuard links up seamlessly with your bank account, credit card accounts, and any other financial accounts you have.
You get a complete picture of your finances, all in one place.
Whether you’re sticking with the free version on the App Store or Google Play or opting for the premium options, you can rest easy knowing your financial data is well protected.
7. SoFi Insights
SoFi Insights is a free app that is a personal finance dashboard that not only tracks every dime but also helps you set and nail your spending targets and savings goals.
With SoFi, it’s super easy to link up all your accounts so that you can see your balances in one glance and make sure you’re spending less and saving more.
You also get to check your credit score anytime, for free. SoFi lets you peek at your VantageScore 3.0 credit score without dropping a penny.
But SoFi isn’t just about monitoring; it’s about empowering.
They offer you a chance to schedule a free 30-minute call with a certified financial planner to plan what your money should do.
8. Excel Budgeting
Budgeting doesn’t have to mean downloading the latest app or software- sometimes, good old Microsoft Excel is all you need to get your finances in tip-top shape.
Excel comes packed with free budget templates and built-in formulas, making it a dream come true for those of us who have a soft spot for spreadsheets.
It’s not very hard to set up a budget in Excel– add in your money info from credit cards and more, and the formulas do the number-crunching for you.
The internet is also brimming with tutorials from Microsoft, Excel Easy, and other helpful sites to give you the guidance you need to become a budgeting wizard.
9. Google Sheets
For anyone who’s all about keeping their budgeting game online and collaborative with your partner or family, Google Sheets is your go-to tool.
It’s packed with a variety of templates that can make setting up your budget as easy as pie.
What’s really cool about Sheets is its ability to work with third-party software, allowing you to import transactions from your bank accounts and credit cards directly into your sheets.
Say goodbye to manually entering all those past transactions!
And don’t forget about my Digital Budget Planner – it’s designed specifically for Sheets and is a total game-changer for managing your cash flow and hitting financial goals.
10. Envelopes
Are you looking for hands-on money management, no apps needed?
The envelope budgeting method is like going old school with a twist, perfect for those of us who like to see and feel where our money’s going.
You take your monthly income and split it into different spending categories—groceries, entertainment, utilities, you name it.
Then, each category gets its envelope filled with the cash allocated for that purpose.
It turns budgeting into a tangible, almost game-like process. You can literally see your spending limits for each category, which is a powerful deterrent against overspending.
11. Budgeting Templates
With budgeting templates, you’re not just tracking numbers; you’re laying down the blueprint for your financial freedom.
You can print one out every month, fill it in, and track your money by hand if you need to have more control over your finances.
And the best part? There are many free budgeting templates to use!
If you’re on the lookout for a free way to get your money matters sorted, you’re in luck because I’ve got just the thing for you– my FREE Simple Budget Template.
It’s like your financial best friend, making the whole budgeting process a breeze. No more scratching your head over complex software or wondering where your cash is disappearing each month.
FAQs
Why should I budget?
Budgeting is like setting up a roadmap for your finances- it’s important for a multitude of reasons, and here’s why you should consider making it a part of your routine:
- Control Over Your Money: Budgeting puts you in the driver’s seat. Instead of wondering where your money went, you’ll be telling it exactly where to go.
- Focus on Money Habits: Ever splurge on impulse buys or unused subscriptions? Budgeting shines a light on your spending habits, highlighting areas where you can cut back.
- Prevents Overspending: By setting limits for different spending categories, a budget ensures that you live within your means.
Will budgeting help me save money?
Budgeting is a game-changer when it comes to saving money. You clearly see where your money is going and where you might be leaking cash without realizing it.
By giving every dollar a purpose, budgeting makes sure that you prioritize saving as part of your monthly routine.
You’re more likely to think twice about impulsive purchases, which helps you build your savings.
Is it better to budget by hand?
Whether it’s better to budget by hand depends on your personal preference and how committed you are to entering past transactions and keeping track of the budget.
Budgeting by hand takes a little more time and forces you to slow down and really consider each entry, making you more mindful of your spending habits and financial goals.
For those who prefer quick access to their financial overview or enjoy the ease of syncing transactions directly from their bank accounts, digital budgeting tools or other apps might be more efficient.
In my opinion? Using both Empower and a printable budget keeps us honest and helps us focus on saving rather than spending or spending on more important things.
What app would help me budget digitally?
Choosing the best budgeting app can significantly enhance your financial management strategy. Several popular budgeting apps are tailored to various preferences and financial objectives:
- Empower: Empower takes center stage as a holistic financial app, offering features that help you monitor your spending and save cash, all in one place.
- You Need A Budget (YNAB): YNAB is designed for proactive budgeting, helping users live within their means, reduce debt, and save more effectively.
- SoFi Insights: SoFi Insights combines easy budgeting tools with free access to a certified financial planner to help manage your money.
Are there free budgeting tools?
Yes, there are free budgeting tools out there designed to help you manage your finances without costing you a penny.
Many budgeting apps available on Google Play and the App Store provide robust free versions that cater to various financial management needs and have great security features.
The downside is free apps may include in-app ads to help make the app free.
A free budgeting app can be just as good as other apps that are premium apps. We use Empower and have been happy with it since day 1!
What’s the 50/30/20 rule?
The 50/30/20 rule is a budgeting principle that assigns 50% of your income to needs, 30% to wants, and the remaining 20% to savings or debt repayment.
This rule ensures that every dollar of your income has a specific purpose, helping you manage your income effectively.
Depending on your income, you can adjust the rule to fit your needs- sometimes, living expenses are more expensive, or you get a bonus that can go right to savings.
Can I use Mint to budget?
Mint, once a popular budgeting tool, has officially shut down, leaving many users in search of a new financial ally.
But there’s no need to worry- tools like Empower have stepped up to fill the void.
Empower is more than just a free budgeting app; it’s a comprehensive financial command center.
With its user-friendly interface and robust features, Empower stands out as a top choice for those looking to get their finances under control without missing a beat.
It offers the ability to monitor all your financial accounts, including bank accounts, credit cards, and even retirement and mortgage accounts, in one convenient place.
What is the 75/10/15 rule?
The 75/10/15 rule is another budgeting principle that splits money into three main categories: expenses, savings, and debt repayment or investment.
Here’s how it breaks down:
- 75% Expenses: This portion covers all your living expenses, including rent or mortgage, utilities, groceries, transportation, insurance, and any other costs for your day-to-day life.
- 10% Savings: This segment is dedicated to building your savings. It could be saving for an emergency fund, a down payment on a house, and more financial goals.
- 15% Debt Repayment or Investment: The remaining 15% is allocated towards paying off debt beyond the minimum payments required or investing to earn more passive income.
Final Thoughts
Keeping your finances in check is easier than ever, thanks to all the budget tools right at your fingertips.
From the hands-on approach of budgeting templates to the seamless efficiency of budgeting apps, there’s something out there for everyone’s budgeting style and needs.
If you’re looking for ways to optimize your money and track spending, these tools are designed to help you meet your financial goals, keep an eye on your spending, and boost your savings game.
So try out a free app like Empower today to put your money to better use from here on out!
Top Personal Finance Software
Empower
Get clarity on your money, with tech you can trust. See all your accounts in one place, including your investments. And go deeper with our planning and analytics tools.
Get FREE Tools Now