Rochelle Allen, Empowering Financial Wellness Program Coordinator
Tracking our spending and budgeting is essential for financial control, and budgeting apps make it easy, especially on the go! With numerous options available, choosing the right one can be overwhelming. Take the time to research, read reviews, and consider the pros and cons. Remember that setting up and linking your accounts will require some time and effort. Some of the most popular choices are RocketMoney, YNAB (an acronym for You Need A Budget), Goodbudget, and EveryDollar. Mint is also popular, but it's going away in January 2024. Let's talk more about each one.
RocketMoney is a great budgeting app! It has a free version for tracking and budgeting and a paid version for $35.99/year. The paid version helps you organize subscriptions and bills, and even negotiate lower costs. Just upload a copy of your bill to RocketMoney. Overall, this app is uncluttered and easy to use. The free version is barebones, so expect to pay for Premium to get the most out of the app.
YNAB is another popular budgeting app. It offers a free trial for 34 days, then it's $14.99/month or $99/year. YNAB follows zero-based budgeting, helping you be in control from the start. While it may have a steeper learning curve and a higher price, it is worth considering for its comprehensive budgeting approach.
Goodbudget is a great choice for beginners! It has a simple interface and offers a free version. The paid plan is $8/month or $70/year. Goodbudget uses a virtual envelope system, but it requires you to manually input each transaction. While there is no syncing feature, it's great for multiple users and provides clear reports. Just remember to update it frequently to stay on top of your finances.
EveryDollar is another great app choice for beginners. It is based on Dave Ramsey’s baby steps system and offers a free 15-day trial. The paid version is $99/year and includes account syncing. While the free version requires manual entry, it is a good starting point for organizing your household finances. Just keep in mind that it doesn't have a lot of bells and whistles.
While this post isn’t a comprehensive list of all available apps, it is a good starting point for those looking for a way to track their expenses digitally. It is always a good idea to explore and find an app that suits your household best. For more budgeting tips, check out the PowerPay Money Master Online Course at powerpay.org. Happy budgeting!"
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