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    Disclaimer: Penny Calling Penny is an affiliate website. This means that we get a small commission when you click some of the links in this article. Don’t worry – we’ll never recommend anything we wouldn’t use ourselves.

    You’ve had times when you sat in a corner in your home drafting out your expenses for the month, and you wonder, why does money grow wings? (Don’t worry, we’ve all been there.)

    Keeping a record of your income and expenses can be a daunting task, especially when it seems like there are more important things to do than scribbling away a list of bills and purchases on a piece of paper that’ll just end up in the trash. 

    Enter budgeting apps.

    Budgeting apps are digital financial organizers. Some even connect to your bank account and credit cards to automatically download and categorize transactions. No more scribbled-on papers, frantic catch-up, or wondering if this even makes a difference.

    We sorted though the dozens of options to find the best free budgeting apps on the market. These will help you relieve stress, stay organized, and never put off something as crucial as budgeting again.

    1. Mint

    Best Free Budgeting Apps 2022

    Mint by Intuit is an exceptional budgeting app that gives you a wide range of budgeting options for free. Mint is ranked top on our list because its users praise it as the best free smartphone budgeting app around.

    Overview

    Mint gives you access to your entire financial life in one powerful app. It brings together everything from balances and budgets to your credit score and investing options. 

    Mint offers a wide range of user-friendly features that let you integrate all of your banking activity; you only have to plug your bank information into the app. Your financial activity will import to Mint. The app is free, and the company pays its bills by providing targeted ads for financial products. Some users actually like this system, as it alerts them to helpful financial products they might not have used otherwise.

    Key Features

    • Instant notifications for accounts, bills, and subscriptions
    • Customizable budgets and subscription monitoring
    • Personalized tips to spend smarter, save more and pay debt
    • Track your net worth, spending, and budgets from the dashboard
    • Bill payment tracker
    • Free credit score check
    • Data security
    • In-app product advertisements
    • Free, with paid add-on options

    User Ratings:  873,700+

    IOS review (4.8/5)

    Google Play review (4.5/5)

    2. YNAB (You Need a Budget)

    YNAB is a free-to-download budgeting app specializing in helping users save money and get out of debt. They help you focus on current and past financial insights at first. Over time, the offer future possibilities based on your financial stats. 

    The app helps you manage your top financial priorities, budgeting goals, and, as they say, “give every dollar a job”.

    Overview

    YNAB says that their new budgeters save around $600 in their first two months and more than $6,000 in their first year. YNAB offers more of a proactive budgeting approach, compared to methods where you track what you’ve already spent.

    Key Features

    • Access real-time information quickly from any device, anytime
    • Share and track finances with a partner
    • Track your budgeting goals
    • Detailed, well-organized reports with graphs and charts
    • Personal Support available 
    • Secure and ad-free
    • 34-day free trial, with a monthly cost of $11.99 or a yearly cost of $84 
    • Sync bank accounts, import data from a file, or manually enter information

    User ratings: 41,000+

    IOS review (4.8/5)

    Google Play review (4.3/5)

    3. Personal Capital – Best Free Budgeting Apps 2022

    Best Free Budgeting Apps 2022

    Personal capital, owned by the Empower Company, holds our number three slot. They help you chart a path to financial independence, evaluate your retirement plan, and meet your goals.

    Overview

    Personal Capital provides a comprehensive perspective of your financial situation. Daily expenditures, portfolio performance tracking, and more give you a clear picture of all assets and liabilities in a secure place. Personal Capital helps you create a plan with actionable steps that you can track as you go.

    Key Features

    • View and examine your total income and expenses
    • Manually add investments without syncing accounts
    • Track net worth from the dashboard
    • Fee Analyzer gives you a closer look into portfolio fees
    • Prepare for retirement with the future Retirement Planner
    • Outstanding reporting options
    • Desktop capabilities
    • Investment management
    • Saving and budgeting options for retirement, emergencies, debt repayment, and more

    User Ratings: 31,400+

    IOS review (4.7/5)

    Google Play review (4.4/5)

    4. Pocket Guard

    Pocket Guard is a great budgeting tool for learning the basics: how much money you made, how much money you owe, and how much money you have left over. The app also shows you which expenses are eating up most of your money in a handy, customizable pie chart.

    Overview

    With Pocket Guard, you can establish spending limits directly in the app. It gives you personalized offers based on the information you give in their profile section.

    Key Features

    • Unique algorithm tracks your income, expenses, and savings goals 
    • Gives you a dollar amount you can spend each day
    • Spending limits make it easier to stop overspending 
    • Cash flow at a glance
    • Easy to use
    • 256-bit encryption, a four-digit PIN, and biometrics options for data security
    • Integrate bank accounts 
    • Track cash, including ATM deposits and withdrawals
    • Educational blog helps you learn as you go
    • Help with bill negotiation
    • Free, with a $2 maintenance fee for autosave 
    • Upgrade options
    • Top-rated app for overspenders

    User Ratings: 8,000+  

    IOS review (4.7/5)

    Google Play review (3.9/5)

    5. Good Budget

    Best Free Budgeting Apps 2022

    One of the main features of Goodbudget is its use of the “envelope system” to help you organize your spending. Before digital banking took off, the envelope system required you to physically separate your cash into envelopes labeled rent, groceries, bills, fun, and any other category you chose.

    Overview

    Goodbudget’s straightforward software has minimal bells and whistles. It uses a simple, tried-and-true approach to help people manage their money stress-free.

    Key Features

    • 256-bit encryption
    • Free and paid options
    • Community support
    • Transaction tracking
    • Large resource library, including a podcast and several courses

    User Ratings: 31,400+   

    IOS review (4.7/5)

    Google Play review (4.4/5)

    Simplify Your Finances with Free Budgeting Apps 

    Budgeting can seem complex and scary, but with the help of these apps, it’s easier than ever. The most important thing to remember is that your budget is going to be totally unique. If it doesn’t look the same as someone else’s, that’s ok! Your budget only has to work for you. 

    Looking for financial tips and advice as you get started? Subscribe to our email newsletter! You’ll get updates on current blogs as well as custom financial tips exclusive to our subscribers.

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    "You must gain control over your money or the lack of it will forever control you."

    Dave Ramsey

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