The are a LOT of budgeting apps out there these days. Which one is best for you? Well... that depends. There's really no one "best" app across the board. Your personal situation and preferences weigh heavily into the best app. In this article we'll break down those preferences and share the top apps that cater to each.

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Your Budgeting Preferences

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Preference #1 - Planning forward vs tracking backwards.

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There are two main types of budgeting philosophies. The first one encourages you to constantly look forwards. You give every dollar a job before you spend it. These apps keep track of how many dollars you have to assign and help you get down to "0 unassigned dollars." This is often called "zero-based budgeting" or "digital envelopes." You can think of these apps like a modern take on cash envelopes.

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The second type of budgeting apps focus more on tracking your spending that's already happened. You can set targets and categories in these as well... but over spending doesn't really have consequences. You don't have to "zero" out your numbers each month because you are just tracking. These apps are more about looking back each month to see how you did so you can make mental adjustments for the next month.

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Preference #2 - Hands on vs hands off.

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Like most things in life you'll get more out of a budgeting app the more time and effort your put into it. That being said... not all of us have a ton of time to devote in our current season of life. Finding the right level of effort for you is important. Do you want to touch each transaction so you really know what is happening with your money? Or are you ok with the app categorizing things for you automatically and giving you roughly accurate totals? The former drives more habit changes but the latter is easier to add into your busy life.

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Preference #3 - Personal guidance vs generic support.

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Budgeting is personal. How we spend our money in many ways reflects our values. Budgeting is also hard. It's a skill that takes time to master and many budget app users will find themselves in need of support. Some apps offer really good support. Others you are more left to your own to search how to use them. If you've tried and failed time and again to stick to a budget you should consider the personal guidance route.

Here's a flow chart that might be helpful as you think through your preferences:

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Best Budgeting Apps

MyBudgetCoach: Best App For Those Seeking Personalized Guidance

MyBudgetCoach is the only budgeting app to connect every user with a real life coach from Day 1. You pick the coach that resonates most with you from our directory. You can message your coach or set up a one on one call with them for an additional fee. MyBudgetCoach is a zero-based budgeting app, best for those who are ready to be hands on to really change their habits. They offer a 35-day free trial and plans are only $14.99/month or $98.99/year after that.

YNAB: Best App For Planning Forwards Without a Coach

YNAB (You Need a Budget) is a long-term favorite in the zero-based budgeting space. Users are encouraged to follow the "Four Rules" to get control of their finances. YNAB helps users make a plan for their money before they spend it. In a world full of budgeting apps YNAB stands out for its fanbase, smart handling of credit cards, and methodology. YNAB offers a 34-day free trial and plans are $14.99/month or $109.00/year after that.

Monarch: Best App For Those Wanting Expense Tracking

Monarch is the Mint.com replacement many have been looking for. Monarch does a great job of pulling all your accounts together for budgeting and net worth tracking. Monarch's style of budgeting more closely resembles expense tracking than future planning. While you can set and monitor goals for each category Monarch doesn't allow users to "give every dollar a job" like other zero based budget apps. Monarch offers a 7-day free trial and plans are $14.99/month or $99.99/year after that.

Honeydue: Best App For Couples

Honeydue is a budgeting app that focuses on couples budgeting together. It provides a way to track your accounts and message back and forth about the finer details. The app features calendars for bills and a way to jointly pay for them. Honeydue is free to use and works on a tip system where users are encouraged to tip anywhere from $1-$10 per month.

Lunch Money: Best App For Crypto Holders

Lunch Money focuses heavily on it's developer community who are building all sorts of interesting plugins with it's unique API. Lunch Money also allows users to track their crypto holdings. The app uses a "pay what you'd like" model after it's 30 day free trial. Plans are $10.00/month or $50.00 - $150.00/year.

EveryDollar: Best App For Ramsey Fans

EveryDollar is a popular tool from Ramsey Solutions that encourages users to give "every dollar" a job. EveryDollar stands out for its deep integration with the Ramsey ecosystem. If you are a devotee of Ramsey's baby steps you'll feel right at home in this app. Each month is set up individually and encourages users to make a plan before they spend. There is a free version that doesn't include bank syncing. The paid version costs $17.99/month or $79.99/year.

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Copilot: Best App For Hands Off Tracking

Copilot uses AI to intelligently assign transaction data. Most everything is done automatically and the user only need adjust as they wish. Copilot has won many awards for it's mobile first approach. The app is more of a tracking tool than a zero-based planning app. Plans are $13.00/month or $95.00/year.

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Summary

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The best app is the one you will actually use. Our best advice is to follow the flow chart and give one a try! If it doesn't work for you try another one. At the end of the day having ANY plan is better than having NO plan. A great budget app will allow you to change your plan over time as well. Spending should reflect your values. As your values change your budget should too. Get out there and happy spending!