Top Personal Finance Apps of 2023
While fundamental budget apps predominantly concentrate on linking with your financial accounts, monitoring expenditures, and classifying costs to deliver insights into your monetary patterns, numerous contemporary personal finance apps transcend these functionalities to provide a comprehensive array of features, and we have the ability to bring your vision to life. These advanced budgeting applications strive to equip users with an extensive set of tools and capabilities for enhanced financial management.
In addition to the core functionalities, best personal finance applications may contain features such as:
- Goal Setting: These applications enable you to establish financial objectives, whether it involves saving for a vacation, eliminating debt, or creating an emergency fund. They offer tools for monitoring your progress and provide strategies to expedite the achievement of your goals.
- Budgeting Tools: Advanced budgeting applications provide highly refined budgeting features that enable you to craft intricate budgets for various categories and monitor your progress in real-time. They might also offer visual representations of your budget and furnish insights on potential areas for cost reduction or savings.
- Bill Payment Reminders: These applications assist you in staying on top of your bills by sending reminders for approaching due dates. They can also supply choices to automate bill payments, decreasing the chances of missing payments & incurring late payments.
- Expense Analysis: Going beyond basic categorization, these applications scrutinize your spending habits, delivering comprehensive reports and visual representations. They can uncover trends, spotlight instances of excessive spending, and suggest areas for enhancement.
- Savings & Investment Features: Certain advanced budgeting apps incorporate integrated savings and investment features. They might grant access to high-yield savings accounts or investment platforms, allowing you to simultaneously nurture your finances while maintaining your budget.
- Credit Score Monitoring: These applications may suggest credit score tracking & monitoring, permitting you to remain updated on your credit health & take necessary steps to enhance it.
- Financial Education: Many applications contain educational resources, articles, & tips on personal finance to assist you in making informed financial determinations & enhance your financial literacy.
- Sync Across Devices: Advanced budgeting apps frequently offer synchronization capabilities across various devices, guaranteeing that your financial information remains current and accessible no matter where you happen to be.
By integrating these supplementary attributes with the fundamental abilities of monitoring and classifying expenditures, these cutting-edge budgeting applications present users with a comprehensive method for financial management. They aim to furnish a complete solution that empowers individuals to assume command of their finances, make well-informed choices, and enhance their progress toward financial objectives with greater effectiveness.
The Top 7 Best Personal Finance Applications
We have studied the most popular applications for personal finance available & estimated their features for your convenience. While basic budget applications generally connect with your financial budgets, track spending, & categorize expenses to deliver insights into your financial habits, it’s crucial to note that many applications go beyond these functionalities.
Mint
Mint stands out as a top-tier personal finance application, earning accolades for its excellence across multiple aspects and garnering a strong following among users. Its remarkable ratings on both the App Store and Google Play, complemented by an extensive array of user reviews, underscore its broad popularity. What’s even more appealing is that Mint is completely free and effortlessly syncs various account types, encompassing checking and savings, credit cards, loans, investments, and bills.
Mint distinguishes itself in the realm of budgeting by adeptly monitoring expenditures and categorizing them with precision. Users can tailor these categories to their preferences, and there are no constraints on the quantity of categories you can establish. Furthermore, you have the flexibility to establish budget limits for each category, and Mint will proactively notify you as you near these limits, facilitating effective control over your spending.
Beyond its budgeting capabilities, Mint provides valuable tools for debt management, savings enhancement, and tracking financial objectives via its “Mintsights” feature. It goes the extra mile by offering insights into your credit score and net worth, offering a holistic perspective on your financial well-being. To further aid users, Mint offers robust support resources, including an extensive FAQ section.
Although Mint excels in its comprehensive financial tracking capabilities, it might not align with your preferences if you lean towards a more proactive and hands-on budgeting approach. If you’re in search of an application that empowers you to proactively plan and allocate your finances in advance, you may find other options on our list that are better suited to your needs.
Mint is accessible at no cost, and its outstanding ratings on both the Apple Store (4.8) and Google Play (4.3) attest to its widespread acclaim and dependable performance among its user base.
YNAB
YNAB (You Need a Budget) is a top choice for those who prefer an active role in zero-based budgeting. In contrast to apps primarily centered on tracking historical transactions, YNAB is dedicated to guiding users in forward-thinking financial planning. It adheres to the zero-based budgeting philosophy, wherein every dollar you earn is allocated a distinct purpose.
When you receive your income in YNAB, you distribute funds across various categories such as expenses, goals, and savings. This prompts a deliberate approach to your finances, where you actively determine the purpose of each dollar. YNAB’s proactive method fosters informed financial decision-making and cultivates greater awareness of spending habits among users.
The application permits you to link your checking & savings accounts, as well as credit cards & loans, supplying a full overview of your financial landscape. YNAB can be used on a wide range of devices, such as smartphones, desktop computers, iPads, Apple Watches, and even Alexa-enabled devices.
It’s essential to understand that the YNAB personal finance app demands dedication and active involvement in the budgeting process, making it ideal for individuals who favor a hands-on approach to financial planning. Nevertheless, it’s worth mentioning that YNAB’s pricing is relatively higher when compared to other apps on our list.
YNAB is priced at either $14.99 per month or $99 per year, and you have the option to explore its features with a complimentary 34-day trial. Moreover, college students have the opportunity to access YNAB for free for one year.
With an impressive rating of 4.8 on the Apple Store and 4.6 on Google Play, YNAB has garnered the trust and contentment of its users, cementing its standing as a dependable budgeting application.
Goodbudget
Goodbudget comes highly recommended for those who favor an active role in budgeting, especially through the envelope budgeting method. Instead of primarily tracking past transactions, Goodbudget places its focus on financial planning and the allocation of your monthly income into distinct spending categories referred to as “envelopes.”
In contrast to applications that establish direct connections with your bank accounts, Goodbudget necessitates manual input of account balances, cash holdings, debts, and income. You can effortlessly input these particulars, which may include retrieving balances from your bank’s website and subsequently allocating funds to the respective envelopes.
Goodbudget offers accessibility through its mobile application and web platform, ensuring flexibility and convenience for users. Additionally, the app provides a treasure trove of informative articles and videos that serve as valuable guides to navigate its features and functions.
Goodbudget offers two versions for users to choose from. The free version includes one account, support for two devices, and a limited number of envelopes, making it an excellent starting point. For those seeking additional features, including unlimited envelopes, accounts, and the capability to use up to five devices, there is the paid option, Goodbudget Plus. Opting for Goodbudget Plus provides access to a range of benefits designed to enhance your budgeting experience.
It’s crucial to keep in mind that Goodbudget does not automatically sync with your financial accounts, requiring manual entry for every expense. If you’re not prepared to invest that effort, the app may not prove as effective for your needs.
Goodbudget stands out as the top personal finance app, providing a free version for users to delve into its essential features. To unlock premium capabilities, Goodbudget Plus is available at a cost of $8 per month or $70 per year.
Having earned an impressive rating of 4.7 on the Apple Store and 4.3 on Google Play, Goodbudget has received praise and positive feedback from its users, underscoring its reputation as a dependable and valuable budgeting application.
EveryDollar
EveryDollar is a highly recommended application for those in search of a straightforward approach to zero-based budgeting. Its user-friendly structure is often perceived as more accessible when compared to other apps, such as YNAB.
EveryDollar’s free version offers a straightforward budgeting experience where you manually input your income and expenses as they occur throughout the month, without the need for account syncing. It allows you to categorize budget line items and establish reminders for bill payments to help you stay on top of your financial goals.
EveryDollar offers an upgraded, premium version for those seeking advanced features. With this paid version, you can link your bank account, enabling automatic import of transactions into the app. It also provides personalized reports and recommendations tailored to your spending patterns. Moreover, you have the option to connect your savings and investment accounts, gaining a comprehensive overview of your financial status.
It’s crucial to note that the free version of the EveryDollar personal financial application suggests limited features, while the premium version comes at a higher price. Also, the application’s website lacks extensive resources to assist consumers in understanding its functionalities before signing up for a trial. Recent consumer reviews on Google Play indicate a decline in the application’s overall rating from 4 to 3.5 stars.
EveryDollar suggests a free basic version for consumers to get begun. A 14-day free trial is available for the premium version, after which you can opt to subscribe for $79.99 per year or $12.99 per month.
EveryDollar has earned a commendable rating of 4.8 on the Apple Store, reflecting positive user feedback. Nevertheless, a recent decline in its rating on Google Play suggests a need for improvement and prompts users to explore potential alternatives.
Empower Personal Wealth
Empower Personal Wealth, formerly known as Personal Capital, is a recommended application primarily designed as an investment tool. Nonetheless, its free version also provides features that can prove advantageous for individuals interested in monitoring their expenses and overseeing their budgets.
Empower Personal Wealth enables you to easily link and keep track of a variety of accounts, encompassing checking, savings, credit cards, as well as investment vehicles such as IRAs and 401(k)s, mortgages, and loans. The application offers a comprehensive overview of your spending by categorizing recent transactions, with the flexibility to customize these categories and see the percentage of your total monthly expenditure each category accounts for.
This personal finance application extends beyond budgeting by providing supplementary features like net worth tracking and portfolio management. It is available on both mobile devices and desktop platforms, ensuring convenience and accessibility for users.
It’s important to keep in mind that if your main objective is to strategize and oversee your financial expenditures and savings, you might find other applications with more extensive budgeting features. Although Empower Personal Wealth does incorporate budgeting functions that have earned it a spot on our list, its standout feature lies in its investment tools.
Empower Personal Wealth is accessible at no charge, enabling users to harness its fundamental features without incurring any expenses. The app boasts an impressive rating of 4.7 on the Apple Store and 4.3 on Google Play, earning praise from users who have lauded its dependability and utility in their reviews.
PocketGuard
What sets PocketGuard apart is its emphasis on simplifying the budgeting process.
With PocketGuard, you can easily connect your bank accounts, credit cards, loans, and investments, permitting you to track your financial info in one place. The application supplies an overview of your remaining funds after accounting for necessities, bills, & financial purposes, giving you an exact picture of how much you have available for discretionary spending.
The PocketGuard personal finance app not only monitors your net worth but also allows you to manually manage your finances without the need to link your accounts. If you’re looking for extra features, consider upgrading to PocketGuard Plus, which includes a debt repayment strategy, the ability to export transactions, and various premium functions.
Although PocketGuard streamlines budgeting, it’s worth noting that it might not be the best choice if you prefer a more hands-on approach to financial planning and actively handling your finances.
PocketGuard suggests a free basic version, which wraps the basic features. You can access PocketGuard Plus for either $7.99 per month, $34.99 per year, or make a one-time lifetime purchase for $79.99.
With a notable rating of 4.7 in the Apple Store & 4.4 in Google Play, PocketGuard has obtained positive feedback from its consumers, highlighting its simplicity & significance as a budgeting application.
Honeydue
Honeydue stands out as the go-to application tailored for couples aiming to jointly oversee their financial matters. This innovative app allows both partners to seamlessly link their bank accounts, credit cards, loans, and investments, granting them a holistic perspective of their shared financial landscape. You retain complete control over the information you choose to share with your significant other.
This cost-free budgeting application effortlessly organizes expenses by automatically categorizing them, streamlining the entire procedure. Furthermore, you have the flexibility to establish personalized categories to match your unique budgeting requirements.
Honeydue offers more than just budgeting, extending its capabilities to include features like bill reminders and an in-app chat function, enabling you to communicate and even exchange emojis seamlessly within the application.
It’s crucial to note that Honeydue counts more towards reflecting & examining past transactions, rather than concentrating on planning for future payments. Recent consumer reviews on Google Play offer a decline in ratings from 4.1 to 3.7, indicating potential areas for improvement.
Honeydue is easily accessible to all couples seeking to manage their finances together, as it is offered free of charge. Its impressive ratings of 4.5 on the Apple Store and 3.7 on Google Play reflect the positive reception it has garnered for its effectiveness in promoting financial transparency and communication among partners.
Our Experience
SDK for a crypto wallet
Stfalcon was entrusted with the responsibility of creating an SDK designed for both Android and iOS mobile platforms, with a specific focus on a cryptocurrency wallet application. A primary goal was to harmonize the business logic and leverage a common codebase that could be used across various platforms. Read the full case study
To accomplish this, the team harnessed Kotlin Multiplatform, a technology that empowered them to implement uniform business models, workflows, queries, internal data handling, and encryption across all the intended platforms. This methodology guarantees smooth and consistent operation of the cryptocurrency wallet, regardless of the user’s selected platform.
Interface design for Credit Agricole payment kiosks
Our team received the responsibility of crafting the interface for Credit Agricole’s payment kiosks.
The main goal of these kiosks is to optimize bank office operations by minimizing queues and lightening the workload for cashiers. Consequently, it was imperative to develop an interface that is exceptionally intuitive and user-friendly, catering to individuals who might not possess extensive familiarity with advanced technology. Read the full case study
The design emphasized simplicity and intuitive functionality to guarantee a smooth experience for every user.
To Sum Up
In our quest to discover the finest personal finance apps, we conducted a comprehensive assessment of several options available in the market. While it’s essential to note that we didn’t evaluate every single app, we meticulously examined criteria we believed were paramount to consumers. As a result of our evaluation, we have compiled a list of our top seven recommendations, detailing their features, monthly costs, availability of payment reminders, and how clearly they present users’ financial information within the app. By considering these crucial factors, our aim is to provide you with a succinct and informative selection of the most appropriate personal finance apps. If you’re interested in developing your own personal finance app, just contact us, free consultation is available.
Originally published at https://stfalcon.com.
