Budgeting is never easy, no matter if you live on a high payroll or with more modest means. The difficulty of planning your spending is all the more accentuated in the millennial demographic. Young people are facing more consuming temptations, have a more chaotic lifestyle and so on. Since there are apps designed to help us with virtually anything we could think of, discovering the best budget app would be of great help in planning the financials and reducing waste. Here are our top 5 suggestions.
1. The Mint App
This free app comes in 3 forms (for iPhone, iPad and Android) and makes everything simple and straightforward, usability-wise. It connects directly to your bank account and helps you generate a personal budget to then stick to. The security behind the app is trustworthy, using the same protocols as bank themselves, so you don’t need to worry. Our favorite detail: it also allows you to see the bigger picture of your spending, by revealing your credit score and the way it is impacted by your spending. This, and its overall hassle-free UX, makes Mint the best budget app in our perspective.
PocketGuard functions in a similar manner with Mint, by connecting to your bank account and analysing your spending trends. It is one of the best budget apps available for free, because the front page of the interface always displays the following:
- How much is in your ‘pocket’ right now;
- How much you’ve spent and if that’s too much for how advanced the calendar is;
- Predictions based on recurring payments from previous months, effectively reminding you of bills or transactions you will likely need to settle soon.
If you’re a fan of the envelope budgeting method (where you stack away some money for payments in different envelopes so you don’t spend them), then this is the best budget app for you. You can use GoodBudget for free however long you want, or you can upgrade to a pro subscription ($15 / 3 months or $24 / 6 months) for more features or a richer account history.
If you appreciate things done on a more professional level and don’t mind paying for a subscription, then this may be the best budget app for you. YouNeedABudget will go the extra mile and provide you not only with trends, reports and analysis, but also with personal advice on what to stop buying, delivered in an almost parenting tone. You can use it for free for 34 days, after which you will need a paid subscription ($5 per month or $50 per year).
The HomeBudget app is especially useful as a shared accountancy for people who live together. You can synch it between multiple devices and share it with your family members or roommates, in order to keep track of all utility and rent spending, as well as insurances or track records on who paid what. It has a free trial period, but afterwards requires a paid subscription ($5.99 on iPhone, $19.99 on Mac and $14.99 for PCs).
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