Jason Miller 9 June, 2024
7 Minutes
While spreadsheets have long been the cornerstone of personal finance tracking, modern tools have changed the game. Today’s budgeting apps go beyond just adding and subtracting—they provide insights, automation, and clarity that spreadsheets alone can’t match.
Whether you're looking for simplicity, automation, or a comprehensive money management suite, there’s a tool out there for you. Let’s explore some of the best budgeting apps and tools designed for every type of spender and saver.
Best for: Those serious about giving every dollar a job.
YNAB is built on a zero-based budgeting philosophy and teaches users how to proactively plan where their money goes. The app is robust, feature-rich, and includes educational content to help change how you think about money.
Pros: Goal tracking, proactive approach, excellent user support.
Cons: Paid subscription ($99/year), takes time to learn.
Best for: Beginners and visual learners.
Mint aggregates your accounts and automatically categorizes your spending. It’s free, user-friendly, and provides credit score monitoring and alerts for unusual transactions.
Pros: Free to use, great interface, alerts and notifications.
Cons: Limited customization, ads and product upsells.
Best for: Couples and families managing finances together.
Monarch is gaining popularity for its clean design, customizable dashboards, and shared household budgeting features. It combines budgeting with investment tracking in a sleek package.
Pros: Shared accounts, great UX, forward-looking planning.
Cons: $99/year or $9.99/month, fewer bank integrations than others.
Best for: Envelope budgeters.
This app brings the envelope budgeting system to digital life. You manually allocate money into “envelopes” for different categories and spend from there. It’s simple and keeps you conscious of your spending.
Pros: Syncs across devices, ideal for partner budgeting.
Cons: Manual entry required, fewer automation features.
Best for: Hands-off budgeters who just want to know what’s “safe to spend.”
PocketGuard analyzes your bills, goals, and income to show you how much you can safely spend. Its minimalist dashboard focuses on helping you avoid overspending.
Pros: Simple interface, good for avoiding overspending.
Cons: Less robust reporting, limited customization.
Best for: Spreadsheet lovers who want automation.
Tiller syncs your bank transactions directly into Google Sheets or Excel and offers templates to track everything from expenses to net worth. You get the power of a spreadsheet with live data feeds.
Pros: Ultimate customization, strong automation.
Cons: Requires comfort with spreadsheets, $79/year.
Best for: Identifying subscriptions and negotiating bills.
Rocket Money scans your spending to find recurring subscriptions and offers to cancel them on your behalf. It can also negotiate lower bills, making it more than just a budget tracker.
Pros: Subscription tracking, bill negotiation services.
Cons: Some features require tipping or a paid plan.
There’s no one-size-fits-all when it comes to budgeting. What works for a young professional might not suit a growing family. Think about your goals—are you trying to reduce debt, save aggressively, or just get organized?
Try out a few apps before settling on one. Many offer free trials, so you can test how well they fit into your lifestyle.
Budgeting apps are great for tracking day-to-day finances, but spreadsheets can still play a role in big-picture planning—like mapping out a 5-year savings goal or debt repayment plan. Use both strategically.
Ultimately, the best budgeting tool is the one you’ll actually use consistently. Whether that’s a sleek app or a trusty spreadsheet, the goal is the same: clarity, control, and confidence in your finances.
— Jason Miller
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