Budgeting apps are only useful if you actually use them. The “best” app is the one that matches how you think about money and doesn’t annoy you into uninstalling it after two weeks. I’ve used most of the major options over the past several years and talked to dozens of people about their experiences. Here’s an honest breakdown of what works and what doesn’t for each major app.
YNAB (You Need A Budget)
YNAB is the most opinionated budgeting app. It uses the “envelope” method where every dollar gets assigned a job before you spend it. You’re not tracking what you spent last month. You’re planning what you’ll spend this month with the actual dollars sitting in your bank account.
The learning curve is steeper than other apps. YNAB’s four rules (give every dollar a job, embrace your true expenses, roll with the punches, age your money) require a shift in how you think about budgeting. Most people need two to three weeks of active use before it clicks. After that, many become evangelists who won’t shut up about it.
The app connects to your bank accounts for transaction importing, but you can also enter transactions manually. Manual entry actually helps some people stay more aware of their spending because the act of logging a purchase makes them think about it.
Cost is $14.99 per month or $99 per year after a 34 day free trial. That’s the highest price among budgeting apps, and it’s a valid criticism. But YNAB users report saving an average of $600 in their first two months and $6,000 in their first year, according to the company’s survey data. If those numbers are even half true, the app pays for itself.
Best for: people who want to actively manage their money and don’t mind a learning curve. Not ideal for: people who want passive tracking with minimal effort.
Monarch Money
Monarch Money is the spiritual successor to Mint (which shut down in 2024). It aggregates all your financial accounts in one dashboard: checking, savings, credit cards, investments, loans, and property values. The interface is clean and the account sync is reliable, which was always Mint’s weak spot.
Budgeting in Monarch is more traditional. You set category budgets and the app tracks your spending against them. It flags when you’re approaching or exceeding limits. There are also goal tracking features for savings targets and debt payoff.
The net worth tracker is one of Monarch’s best features. Seeing all your accounts in one place, with a line chart showing your net worth trend over time, provides motivation that transaction level tracking doesn’t.
Monarch handles shared finances well, making it a good option for couples. Both partners can see the same dashboard, categorize transactions, and monitor shared budgets without needing separate accounts.
Cost is $9.99 per month or $99.99 per year. There’s a 7 day free trial. The price is reasonable given the functionality, and the app has improved steadily since launch.
Best for: people who want a comprehensive financial dashboard with budgeting. Couples. Former Mint users. Not ideal for: people who want the zero based budgeting approach (use YNAB instead).
Goodbudget
Goodbudget uses the envelope method like YNAB but with a simpler, more stripped down interface. You create virtual envelopes for each spending category and allocate money to them each month. Spending comes out of the relevant envelope until it’s empty.
The free version allows 10 envelopes and one account, which is enough for basic budgeting. The paid version ($10/month or $80/year) allows unlimited envelopes, multiple accounts, and debt tracking.
Goodbudget doesn’t automatically sync with bank accounts. All transactions are entered manually. This is a feature or a bug depending on your perspective. Manual entry forces awareness but requires discipline. If you’ll actually enter every transaction, it works great. If you won’t, the budget becomes inaccurate within days.
The app is available on iOS, Android, and web, with syncing across devices. It’s simpler than YNAB and cheaper, making it a solid option for people who want envelope budgeting without the complexity or cost.
Best for: people who prefer manual tracking and envelope budgeting on a budget. Not ideal for: people who want automatic bank syncing.
EveryDollar
EveryDollar is Dave Ramsey’s budgeting app. It uses zero based budgeting where every dollar of income is assigned to a category, similar to YNAB but with Ramsey’s specific financial philosophy baked in (baby steps, debt snowball, anti credit card).
The free version requires manual transaction entry. The premium version ($17.99/month or $79.99/year through Ramsey+) adds bank syncing, custom reports, and access to other Ramsey content.
The interface is intentionally simple. Some people find it refreshingly straightforward. Others find it too basic, especially at the premium price point which also bundles content you may not want.
If you follow Ramsey’s methodology, this app is built around it. If you don’t (and if you use credit cards for rewards, you don’t), other apps offer better value.
Best for: Dave Ramsey followers. Not ideal for: people who use credit cards strategically or want investment tracking.
Your bank’s built in tools
Many banks now include basic budgeting features in their mobile apps. Chase, Bank of America, Capital One, and most large banks categorize transactions automatically and show spending summaries by category. These tools are free, require no additional setup, and are already on your phone.
The limitations are real: they only track spending at that bank, the categorization is sometimes wrong, and the budgeting features are basic. But for someone who isn’t going to use a dedicated app, a bank’s built in tools are infinitely better than no tracking at all.
Best for: people who want basic spending awareness with zero additional effort. Not ideal for: people with accounts at multiple banks or who need detailed budgeting.
Which one should you pick?
If you’ve never budgeted before, start with your bank’s free tools or Monarch’s trial. Get comfortable seeing where your money goes before committing to a paid tool.
If you’re serious about changing your spending habits and willing to learn a system, YNAB is worth the investment. The methodology it teaches is more valuable than the software itself.
If you want a comprehensive financial picture without the envelope method, Monarch Money is the best current option.
If you prefer manual tracking and want to keep costs low, Goodbudget’s free tier is solid.
The common thread: any app you’ll actually use for more than two weeks beats every app you’ll abandon. Start simple, use it consistently for a month, and upgrade if you need more features. The goal is awareness of your spending, and even a basic tool accomplishes that if you stick with it.