How do I save more money? This is the question on everyone’s minds and yet, not many people have found an answer to it. To help users take better control of their finances, you can invest in a budgeting app development. In this blog, we have curated and made a list of 5 best budgeting apps of 2020 to help you understand how other apps around the world are performing and which are their top features.
According to Business Insider, more than 55% of millennials don’t have a retirement plan. Of course, that means that 45% of them do have one but it is important to note that not everyone with a retirement account is saving in it.
There are multiple reasons cited for the average millennial’s inability to save money; from being paid less to spending half their income on housing, it looks like a tough path. However, whether one has a retirement savings account or not, and no matter what their age is, everybody wants to have some savings for a rainy day.
To begin with, it is crucial that one knows where his or her income is being spent. Without understanding where you are spending, it could be very difficult to save money at all. Earlier people used to maintain an account book for all their expenses, and put money in envelopes to divide up their income into categories.
However, with the rise in technology and the internet explosion of the 1990s, everyone prefers to record everything ‘digitally’. There are several budgeting apps and personal finance apps that caught our attention. We have curated 5 of the top-rated mobile apps for budgeting in 2020. We have also listed some noteworthy features of each top budgeting app, take a look for yourself.
5 Best Budgeting Apps Of 2020 That Users Love The Most
If you are on the lookout for the best budget app 2020, you must have come across Mint budgeting app before. There’s no way we could have avoided putting this app on the list, it is simply one of the best and one of our personal favourites. Mint is a free finance tracker app that helps people take care of all their personal finance apps and take a look at their financial status with ease.
Mint is not only available on iPhone and Android but also has an expense manager for PC. It helps track spending with the help of charts and categorizes your expenses so that you can check where you are spending. Users can easily log in to their bank accounts in a safe and secure way and helps them create their savings goals to motivate them for saving more.
Image Source: Mint
- User-friendly interface
- Automatically categorizes expenses into categories and displays charts or graphs
- Sign in using fingerprint so all your data remains safe and secure
- Lets users connect bank accounts and check credit score for free.
Cost: Free of cost
You Need A Budget works in a similar way like putting money aside in envelopes as soon as you get your salary. The basic rule that users have to follow is to assign every dollar a job – this leads people to get a better idea about where they are going to spend how much amount. According to the app’s description, most users save up to $200 in just the first month of using the app. Moreover, the app is free to us for the first 34 days because they don’t believe in charging a user if the app isn’t helpful enough.
Users can sync their bank accounts or add the transactions themselves manually so that the bank balance is always updated. The app can be accessed across various devices, hence making it easier for users to check their financial status on the go.
Image Source: YNAB app
- YNAB has a feature that allows users to set goals and see how long it will take for them to achieve the goals
- With details visual reports, it becomes easy for users to understand their spending habits
- Flexible budgeting app to allow users to deal with life in a guilt-free way
Cost: Free 34-day trial on sign-up, thereafter $6.99 per month or $83.99 annually.
Goodbudget is one of the best budgeting apps recommended by experts from Google, The New York Times, Forbes and other reputed organizations. Goodbudget app also works on the traditional envelope system for assigning an amount to various categories. However, one major difference better You Need A Budget app and Goodbudget app is in the pricing. While YNAB allows a free trial for 34 days, Goodbudget actually has a Forever Free plan that gives limited access to the users. There are other plans with more access and flexibility but they come at a cost.
Users of the Goodbudget app recommend it as one of the best budgeting apps for iPhone and Android. It is easy to use, syncs everything and runs smoothly. With Goodbudget, users don’t just track where their money is being spent but they actually divide it up so that it is easier to save.
Image Source: Goodbudget app
- Automatically syncs across Android, iPhone, and the web
- Add bank accounts and easily transfer money
- Helps you share data with loved ones so you can stay on the same page
- Edit budget as and when needed for emergency funds
- 10 regular envelopes and 10 annual envelopes available in the free version of the app
Cost: There’s a free version and paid version starts at $6 per month or $50 annually
PocketGuard app for budgeting is one of the leading, easy-to-use and best finance tracker apps in US and Canada. The app aims to help users make money management and budgeting easy and trouble-free. With a 256-bit SSL certificate, the app protects all the sensitive data of the users. Even with multiple functionalities, the app is surprisingly easy to use, with the UI being neat and user-friendly. The app has both – a free and a paid version for the users.
Image Source: PocketGuard app
- 4-digit pin to ensure that the user’s data is protected even if your phone gets lost or stolen
- Users receive timely notifications about credit card and loan payments
- User will get alerts when a bank fee or unprecedented charges are deducted
- Helps to manage all bank accounts, debit and credit cards, loans and investment from one place
Cost: One free plan and the paid version starts from $3.99 per month or $34.99 annually
ClarityMoney is an AI-powered budget app that makes use of machine learning to help users analyze their finances and make smart decisions about their money. Users can discover new ways to save money by using ClarityMoney money manager app. With this free top budgeting app of 2020, users can not only save money but also save time and stay organized. Users feel that they are able to see a lot of progress by using this app.
Users’ information is also secured and protected with multi-level safeguards in this best personal finance app. One unique feature of this app is that asks users to enlist all the subscriptions they are paying for and suggests which one the user should cancel to save money.
Image Source: ClarityMoney app
- Allows users to quickly link all their financial accounts to ClarityMoney app with ease
- Users can cancel subscriptions and save money with Marcus Online Savings Account
- This free money manager app uses data and gives the users a clear view of their finances, also providing tools to help take control of their financial life
- AI-powered and secured with multi-level safeguards
Cost: Free of cost
Help Users Save Money And Reap Benefits With A Money Manager App
After going through 5 top budgeting apps of 2020, we are sure that you might want to develop one such app of your own. With the help of our app consultants, we can assure you that this is the perfect time for you to get started with your budgeting app development.
Thus, if you also have an idea of developing money manager app like Mint or Goodbudget or if you want to make your unique best budgeting app, feel free to validate it with us. Without giving a second thought on your idea, let’s start working on the feature integration and functionalities. We are a leading Android and iPhone app development company and have already developed over 20 Finance apps with exclusive features.
If you still have any query like how much does it cost to develop a mobile app, how to make money from a free budgeting app, or how to hire mobile app developers, what is the app development timeline, just fill our contact us form and our sales representative will get back to you to answer your queries. The consultation will be free of cost!