What is your biggest financial goal? Maybe you want to save up for an important purchase, pay off previous debt or just want to be more aware of your spending habits. Almost always, a budget is a critical place to start. And you have plenty of options to get started with the process. You could try keeping an Excel spreadsheet with a log of monthly purchases. Or perhaps take a more physical route and stuff your money into categorized envelopes.
But if you’re looking for a way to track spending that’s more streamlined and on your smartphone, a budget app is worth a try. Keep in mind that usually when a financial app is offered for free, it is monetized more aggressively by the company providing it. So it might be worth getting a subscription to a paid tool for a few months to try out the user experience and cancel if it doesn’t suit.
Whether you’re looking for a whole new way to approach your money mindset or just trying to be a little more careful with those coins, these five apps focus on practical advice, help with budgeting, and just might help reduce your overall financial stress.
January 2025: This article was updated to reflect current details about budgeting apps.
Budgeting in your head is hard, especially if no one has shown you the ropes. YNAB (You Need a Budget) makes financial planning manageable. You’ll be able to sync all your accounts, track your monthly spending, keep track of your bills, and set aside savings for emergencies—all in one hub. The company offers online workshops that can give you the skills you need to get rid of that pesky debt and boost your savings. After a free 34-day trial, YNAB costs $109 per year — but you can just factor it into your budget.
The airy user experience from Copilot makes the finance app stand out. When connected to your bank account, transactions are automatically organized into emoji-tagged groups. The app can suggest new amounts for budget categories based on past spending and keep track of recurring payments. Acorns, Robinhood and other apps connect with Copilot to help you keep track of potential investments. For those overwhelmed by the thought of financial tracking, Copilot is an accessible entry into the world of money management. Unfortunately, the app is only available for iOS users. After a month-long free trial, the annual subscription costs $95.
The world of investments and returns can be obtuse to a beginner. Skip the deals with stockbrokers and consider downloading Acorns instead. It simplifies the investment process by rounding each purchase you make up to the nearest dollar and automatically investing the change in a diversified portfolio. The basic service costs $3 per month and you can cash out your investments at any time.
If you are not ready to plunge into the risky world of investments, Oportun (formerly known as Digit) provides another way to build your savings. It’s an automated process, just like Acorns, but instead of focusing mainly on investments, it’s aimed at saving the money you already have. Every day, Oportun withdraws money from your account to deposit in a savings account. The app monitors your spending habits and your income, so it only deducts what it thinks you don’t need. Long-term investments and retirement investments are also available through Oportun. You can try it for free for 30 days, after which you have to pay $5 per month.
It’s not a budget app, but the free Credit Karma app owned by Intuit can help you decipher that credit score and how it changes over time. Your credit rating is very important: Lenders, landlords and insurance companies may all want to check it. The number fluctuates and primarily tracks whether you pay with a credit card or loan on time, as well as how much of your allocated credit is used. The Credit Karma app aggregates reports from TransUnion and Equifax and then explains the factors that affect your score. While the app is good for score tracking, you’re probably better off ignoring the in-app advertisers that push loans based on your data.