The Best Budgeting Apps for 2020

Taylor Hendricksen  |  December 12, 2019

A budgeting app is a powerful financial tool. These apps are the best for creating and sticking to a budget, tracking spending and growing your savings.

A budget is a must-have for keeping your peace of mind financially. But how do you keep track of your budget? Is your system a messy folder of receipts or cash stashed all over the place? If so, it may be time to try something new to manage your budget. One of the best tools to keep you in control of your finances is an app. 

Whether you want to keep tabs on your account balances, build your savings account, or find coupons, there’s an app for that. There are also apps to help you with investing or that will create ultra-personalized budgets and savings plans.

Best Budget Apps

Here are our picks for the best apps to help you get a handle on your daily, monthly and annual spending. Managing your money smartly puts you on the path to a higher net worth.


Cost: Free

Available for: iOS, Android, Web

Mint is one of our top picks for a financial tracker app because it’s easy to use and it’s free. Mint gives you an overall snapshot of your finances by bringing together your checking and savings accounts, credit card debts, bills and any 401(k) or IRA accounts.

With Mint, you can easily track your real-time income and spending, set savings goals and keep your budget on track. It shows your recent transactions, account totals and spending organized by category. You can also use Mint to alert you if you go over budget in any area. Another bonus? Mint sends you a free credit score when you sign up!

You Need a Budget

Cost: Free 34-day trial, then $11.99 monthly plan or $84 annual plan

Available for: iOS, Android, Alexa, Web

If you’re looking for a hands-on experience to get in control of your finances, the budgeting app YNAB (You Need A Budget) is for you. The goal of this app is to help you prioritize and plan your finances – to be intentional with your money choices. 

While YNAB is a paid app, the resources are plentiful making it especially helpful for first-time budgeters. Check out their online workshops on everything from sticking to your budget to managing credit card debt. 


Cost: Paid monthly plans: $1/month, $2/month or $3/month

Available for: iOS, Android, Web

If you’re looking to grow your savings by investing, Acorns is the money app for you. Acorns uses a “round-up” system, which rounds up either your debit or credit card transactions to the next dollar and invests the difference. It then takes your spare change to build your savings accounts. Acorns chooses how it invests your money based on your net worth, annual salary and risk tolerance. This app is ideal for those with an interest in investing but who may be confused by the financial jargon or just want to start on a smaller scale. 

Acorns also offers Acorns Spend, a checking account with a Visa debit card that offers free bank-to-bank transfers, no overdraft or minimum balance fees, and unlimited free or fee-reimbursed ATMs nationwide.


Cost: Free

Available for: iOS, Android, Web

The ever-popular envelope budgeting method is now virtual thanks to Goodbudget. You digitally allocate your funds into different “envelopes” each month to stay on budget.

Goodbudget lets you set money goals like a vacation or getting out of debt, and they offer resources to help you meet those goals. 


Cost: Free 1-month trial, then choose from one of three plans: Basic ($6/month), Plus ($19/month), or Complete ($59/month)

Available for: iOS, Android, Web

Mvelopes is another app that is based off the envelope budgeting system. The app connects to all our bank, credit card or other financial accounts, and users can track their finances. 

If you sign up for their Plus or Complete plan, you also get access to a personal finance coach. While these coaches shouldn’t replace a traditional financial advisor or planner, it can help guide you on how to think about your money in the long-term. If you have some debt on your plate, an Mvelopes expert can help you set up a debt roll-down plan.


Cost: Free ‘lite’ version, paid version

Available for: iOS ($4.99), Android ($5.99), Web

HomeBudget is the perfect budgeting app for those who aren’t so app-savvy. It makes it easy to see where your money is going by dividing your money into categories like expenses, bills and income and clearly displaying it on the home screen. 

HomeBudget also has three other useful sections: payees, reports and search. The payees section is ideal for freelancers; you can enter client info and organize transactions and income that way. In the app’s reports section, you can see your financial big picture. The search tab lets you search for invoices or information by client name. 


Cost: Free basic version, or the Track or Submit plan ($4.99/month)

Available for: iOS, Android, Windows

Expensify is for freelancers and individuals who need to keep track of expenses and mileage. Its interface is divided into four, easy-to-use sections: SmartScan, Add Expense, Track Time and Track Distance. The SmartScan option lets you take a photo of a receipt, categorize and save it. No more messy piles of receipts! To track miles, Expensify makes it super easy to do by just turning on your location services.


Cost: Free basic version, or the Pro plan ($19.99/year) or Medici plan ($39.99/year)

Available for: iOS, Android, Web

The Toshl app creates a customized spending plan or budget for you. Enter your income and expenses, then choose a preferred budget time frame – weekly, biweekly, monthly or annually – and start date.

Toshl presents your finances in an uncomplicated, straightforward way, complete with categorization tags on each expense.


Cost: 30-day free trial, then $9.99/month, or $59.99 if paid annually

HERMONEY OFFER: Save 10% off the monthly or yearly plan with Honeyfi.

Available for: iOS, Android

Honeyfi is a money tracking app for couples. Enter your bank account information and track your personal finances together, even across banks. You can get alerts any time your partner makes a transaction, build a budget together and work together toward a common goal, all within the app.


Cost: Free 1-month trial, then $5.99/month

Available for: iOS, Android, Web

FamZoo touts itself as a virtual family bank with a goal of helping parents teach their kids about money. With FamZoo, parents either load money onto a prepaid debit card for kids to use or manage IOUs for things like weekly allowance and chores completed. Accounts can also accommodate add-ons like rewards for tasks completed, “payroll” withholding for saving or giving money, expense sharing, penalties for missed chores and more.

The kids can sign into their own accounts as well in a process that mimics real-world online banking, and parents can monitor all accounts from a shared dashboard. And the best part of FamZoo? You’ll never have to feel bad about not having cash for allowance again.

What are your favorite budgeting tools, spending trackers, or investment tools?

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Editor’s note: We maintain a strict editorial policy and a judgment-free zone for our community, and we also strive to remain transparent in everything we do. This post contains references and links to products from our partners. Learn more about how we make money.
Editor’s note: We maintain a strict editorial policy and a judgment-free zone for our community, and we also strive to remain transparent in everything we do. Posts may contain references and links to products from our partners. Learn more about how we make money.

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