When it comes to budgeting apps, efficiency is king. Budgeting in and of itself can be a lengthy and labor-intensive process, so if your budgeting app isn’t making it any easier, what’s the point? We’ve gathered five different budgeting apps and ranked them for you by their efficiency, so you can pick for yourself which app will work best to meet your budgeting needs.
1. Mint By Intuit
The Mint budgeting app had to make the number one spot. With a fully customizable interface, integration with bank and credit card/investment accounts, and a zero dollar price tag, Mint takes the cake for efficiency.
The app allows you to enter expenses and transactions/income just like any other app, but what makes it efficient is the fact that you can link your bank accounts and have your transactions automatically tracked within the app.
Manual entry is slow and time-consuming. That’s what makes Mint’s bank account integration such an amazing feature, and while a few other apps do boast a similar feature, Mint is still absolutely free to use, and we think that’s pretty efficient in itself.
Mint also provides real-time notifications when changes are made to an account. Have an upcoming bill? Just bought a flat screen TV? Mint is tracking it all, integrating the numbers into your budget and keeping the numbers where you want them to be.
You’ll get notifications when you get near your budget as well, so you can remember to stay within your predetermined amounts.
Another feature that makes Mint unique are the custom financial tips the app provides for its users. You can budget and receive solid advice on saving and budgeting from one of the best budgeting apps out there.
2. Every Dollar
Every Dollar deserves a spot right up there with the Mint budgeting app. It’s efficient and easy to use, much the same as Mint. It may have even taken the top spot, if not for a few hangups, including price and certain features of the budgeting interface. If you’re looking for an in-depth analysis of Every Dollar Vs Mint, we’ve got you covered.
Every Dollar is free to use for its basic users, boasting an intuitive budgeting interface that allows you to manually add expenses, income, and track transactions.
However, to get the same bank integration as Mint, Every Dollar requires users to sign up for Every Dollar plus, which carries a $99/year price tag with it. You’ll reduce paper receipts and remove the need to manually enter every transaction, but you’ll have to pay for it.
3. YNAB (You Need A Budget)
The YNAB app is pretty unique in its ideology and interface, offering budgeting users a much different, but still efficient, experience. The app was created under the philosophy that “every dollar has a job” and it’s your responsibility to assign it.
The apps can sync between desktop and mobile devices, meaning you can take your finances with you or simply work on them at home. This mobility makes the app incredibly efficient, allowing you to track your budget from anywhere.
This is another app that allows the user to connect bank accounts and credit cards to easily track their transactions as they occur. The app will let you know if you’re fitting into your budget or not as the transactions take place.
With helpful tips, this app can also aid you in getting out of debt by offering budgeting and savings suggestions on a per month basis. Overall, this extremely efficient app has something for everyone, though it does come with a monthly price tag of $6.99.
Moneystrands is an app that’s similar to Mint in its easy-to-use interface and ability to link bank accounts and credit cards. The app also includes a handy calendar with your bills listed on it, so you can keep track of when things are due weeks ahead of time.
You can set monthly savings goals, track your income and expenses, and get real-time updates on changes as long as you’ve linked your accounts. Best of all, Moneystrands is completely free, which is always efficient.
If you’re looking for something a bit more personalized and immersive, Cinch might be the app for you. Not only does this app help you create a budget, but it utilizes AI technology to build a personal financial profile for you.
If you’re not keen on giving up a lot of your personal information, you’ll want to steer clear of Cinch. The app will ask for things like bank account numbers and your social security number. Don’t worry, though, your information is encrypted and safe. The app needs it to simply build a proper financial plan for you.
Cinch also monitors your credit score along with income and finances, making this all-in-one financial assistant a great addition to our list. It’s also only $4.99 per month, making it one of the least expensive apps on the list.
The Cinch team wholly believes in the philosophy that super-smart technology that works for the user is the best way to bridge the gap between efficiency and technology. That’s why Cinch is considered one the most intuitive-if not intelligent-apps on the market.
While there are hundreds of budget apps out there, we think these five are some of the most efficient around, and definitely worth trying out. Whether you’re looking for a full blown AI financial advisor, or a simple calendar budget, one of these apps has exactly what you need.