Personal Finance: Best Budgeting Apps

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With new advances in technology emerging every day, we are fortunate to have lots of options when it comes to apps. There are apps that can play games, track our fitness levels, and help us with our budgeting. These budgeting apps are great, but there are so many to choose from, so it can get a little overwhelming when deciding which one to use.


Mint is free to use and is very user-friendly. You can sign up online and link any number of your personal accounts to the app. This includes your chequing, savings, credit cards, loans, and brokerage accounts. When you log into the app, all your transactions will automatically update and categorize themselves. Mint has a budgeting and tracking feature. Your transactions will be placed in the correct categories, and the app will let you know if you have gone over budget in any category.

Mint also recently released a free credit tracking feature. You can view your credit score, your payment history and if you have any aging accounts that you need to pay off.

YNAB (You Need A Budget)

This app is more hands-on and will appeal to the more mathematical users. You Need a Budget (YNAB) uses the zero-based budgeting system, which basically means that all your income minus all your expenses will equal out to exactly zero. Users of this app will need to plan their budget down to the penny. You can connect this app to your bank accounts in order to closely track every expenditure. You can also customize your spending categories. This app has a free trial of 34 days, and then it costs $84 annually or $11.99 per month to use.


PocketGuard works to prevent you from indulging in unnecessary spending. It can link to all of your financial accounts. The app will track your income, your reoccurring bills, your other expenses, and your saving deposits. PocketGuard is able to examine your reoccurring bills, such as the phone bill for example, and find opportunities for you to save money. It might determine that you are paying for more than you actually use and recommend that you switch to a cheaper plan.


Mvelopes is a good app for people who are visual learners. This app allows you to allocate cash to different ‘envelopes’, which are your spending categories. When that envelope is empty, there is no more spending in that category for the rest of the month. Mvelopes costs $6 per month with the basic plan. For a plus plan, it will cost $19 per month, and a complete plan will cost $59 per month.


An app meant for couples, Goodbudget allows two people to share their finances. You will be able to sync budgets with your partner and share details about transactions. It is great for couples who have shared bank accounts, as these can be easily linked to the app. It is also easy to work toward shared financial goals using the app. Goodbudget offers a free plan or a paid plan with extra features. This costs $5 per month or $45 per year.


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