As the new year is starting, and I have recommitted myself to my financial journey, I wanted to see if there was a way to use my phone to help me stay on track. I mean, I only have it on me 24/7, it should be used for more than Instagram and CandyCrush.
So, I went ahead and downloaded 6 different budgeting apps and tried them out. I was looking for one that I could be helpful and that I wouldn’t end up deleting like I had with all of the others in past.
Below are my thoughts on the apps that I tried:
Mint “The Popular Kid”
Ok, so to be honest this was one of the apps that I had downloaded in the past that I ended up deleting. But, new year new chance, and I hear about this one most so I gave it another chance.
Pros:
-Part of Intuit, so if you use quickbooks or turbo tax it could sync with those accounts
-one clean page at beginning that shows spending, net cash, and credit score
-Has online access so if you can access it through your computer, which I love
Cons:
-Not a great tool if you are starting from zero and looking to create a budget
-Had syncing issues with it, so my transactions were not loading and my history wasn’t as well
-budgeting categories are not customizable, so if you want to get very specific it is more difficult.
Overall, I would give this a 3.5/5. Has some really great features, but syncing issues and inability to customize categories frustrated me.
Clarity “Cool Nerd”
So apparently, I had also downloaded and tried this app previously, so this was me giving it a second chance. This one seemed more “hip” for some reason.
Pros:
-Opens onto page that has lots of useful tracking, like monthly expenses by category and credit score
-When you set up a new budget, it walks you through the process of setting up fixed expenses and income, which is great for someone starting to budget
-Credit score monitoring screen that shows you how to optimize credit card spending to have a positive impact on credit score
-Online access to your budgets!
-Can see spending by company (showed me my Postmates spending, yikes!)
Cons:
-Again, I had syncing issues. Was not able to see anything before December 15th which took away from the usage
-Budget categories are not customizable, which is annoying since I am super particular
-Almost too much going on on the main page, can be overwhelming when you first use it
Clarity gets a 4/5 from me. The ease of use and the setup of the app is a little more intuitive for me compared to Mint. And, the built in tools that help you save money on subscriptions or other expenses gives it a slight advantage to me.
You Need A Budget “The Tutor”
Finally, an app that walks you through creating a budget! You Need a Budget is a large brand, with a book and website that teaches people how to start a budget. Their app is a great for people who are just starting to budget.
Pros:
-Has a clear how-to section that walks you through the process of how to set up a budget
-Part of a larger program so there are more resources if you want further assistance
-Can customize categories of your budget and have multiple different budgets in your profile at one time
Cons:
-It costs $12 a month to use after the free one-month trial
-Opening page can be a little overwhelming at first, after you go through the process and set it up, I can see how it would be good
Overall, You Need a budget gets a 3.5/5 for me. The fact that you have to pay for it is huge factor since I am not sure it provides enough value compared to other apps I have used. However, the fact that it is part of a set program that has a book and methodology really makes it stand out.
MoneyStrands “The New Kid”
Ok, so I found this one while researching apps online, and decided to give it a try. A lot of personal finance apps all have similar features, but what I really liked was how it opened to a simple page that showed you how much you have left to spend that month.
Pros:
-Simple home screen doesn’t overwhelm you when you open it up
-Expenses are easy to see and edit since they come up full screen
-Tons of different categories when you start, with the ability to add in any custom ones that you want
-smart learning prompts after you edit a transaction allow you to apply the same category to future transactions from that vendor
Cons:
-Not for the person who is looking for an app to help them set up a budget from scratch, its more of a tool that will help you follow a budget you set up outside of the app
-no desktop version, which since I prefer to do most of my personal finance things on my computer is a drawback
This app was by far my favorite out of all of the ones I tested, so I am giving it a 4.5/5. I like the simplicity of the views and how easy it was to make edits to transactions. Also, since I love looking at my spending in specific categories, the ability to really customize categories is a huge plus to me, and it’s the app that I could see myself using after this test.
There are so many different finance apps out there, so take your time when finding one that works for you. Really allow yourself to try them out and find features that are going to help you with your personal goals, not just what is the most popular apps out there!
Do you use any of these apps? Let me know what you think of them in the comments!
