Android is a pretty versatile platform and is home to nearly 3 million applications, ranging from games to productivity and some simply bizarre apps. Given the fact that there’s pretty much anything you can get on the Play Store, it can get pretty difficult to get the best apps out there. People might think the same about budget apps, which is absolutely essential to keep your finances in check. So how do you pick the best? Well, we have you covered. Featured in Google’s Play Store list, these are some of the best apps meant to keep a tab on your monthly budget. Given that Google has personally handpicked these apps, you can be assured that these are the best in the business. Read on for more info on these apps.
7 Best Free Budget Apps for Android in 2020
This is one of the most popular apps meant to keep a check on your finances. You get granular control on your finances, with the ability to track your finances down to the last detail. You can include your bank accounts, credit cards, and investments, so you can be assured of having a detailed tab on every financial aspect of your life. The app will allow you to get a better idea of where you should be spending money and where you can save. In my opinion, budget apps are always a must have for people. You will have an idea of where you stand financially, and can even have a look at your credit score.
The fact that your calendar is synced with the app ensures that your bills will show up on the calendar, reminding you of an upcoming payment. It has seen nearly 10 million installs already, so it’s clearly very popular with the masses. Reviews have been fairly positive as well, so the app developers are constantly pushing new updates to enhance functionality. Naturally, it’s a free app, which is a major bonus given the kind of functionality it offers. Be sure to check out the app from the Play Store.
Yet another budget tracking app, Spendee allows you to keep a detailed track of your finances. It’s also an amazing expense tracker, helping you understand where you’ve spent your money. What’s better is that the app comes with customized wallets for special occasions like weddings, birthdays, and anniversaries. This won’t affect your primary wallet, helping you keep those expenses separate. There are neat little infographics on board, helping you get a better understanding of where you stand financially. You can add expenses in different currencies, which is a major plus If you’re looking to travel to a new country.
You will be able to create shared accounts with your family, allowing you to have a detailed look at how the people around you are spending. Overall, Spendee is a highly functional application, and yet another viable alternative to check out if you’re looking for a decent budget or expense tracker application. The data is synchronized securely, ensuring that your private information doesn’t slip out anywhere. With nearly 1 million installs on the Google Play Store, it’s a pretty popular app out there. Users can download the app for free, which is pretty much the icing on the cake. The app has a bunch of in-app purchases, which is how the developer generates revenues from this particular app. It’s not mandatory for continued usage though, so those looking to use the app for free can continue using it without much worry.
EveryDollar, created by Ramsey Solutions, is one of the best budgeting tools that you can use today. Download it for Android, and in just a couple of minutes, you can have your own monthly budget. EveryDollar helps you shorten the time it takes to do your budget as well — once you insert your basic details, EveryDollar carries those details over to each month, so that you only have to take a few seconds to make the small adjustments that you need to.
This app actually uses the “zero-based budget approach”, which means that you’re accounting or budgeting for every dollar that you have coming in. EveryDollar is free, so it’s worth giving a try. It does have a subscription fee, which adds some other cool things, like connecting up to your bank and allocating transactions for different budget categories.
Next up, we’re looking at Clarity Money, the budgeting app that partners with you alongside your financial journey. With Clarity Money, you can use all of the budgeting tools that you would expect an app to bring you — plan your budget, monitor expenses, track spending by category and merchant, and even monitor your credit score.
One of the cool things about Clarity Money is that they can connect to your bank account, and view and manage transactions that way. It can actually even cancel subscriptions coming through for you. Open Clarity Money, find your monthly subscriptions, and then you can simply tap a button to cancel them.
Opting for a simpler name, the developers behind Wallet have put in a lot of thought into this app. It is compatible with Android 4.1 and up, which covers a broad range of devices that are in circulation right now. It has already seen about 5 million installs on the Play Store, which is fairly decent for the kind of app that it is. Tracking your expenses is a hassle free process here, and you’re given a detailed description of your previous spendings. You can hook up your bank account with the app, and some banks even offer real-time synchronization with the app, giving you a very good idea of where your finances stand.
Wallet will also sync up your budget to give you wise suggestions on how to meet financial goals. The app supports multiple currencies, which is ideal for travel. The core features of budget apps are pretty much the same, and the developers can only innovate in terms of onboard features and the appearance of their applications. Wallet comes with a pretty easy to use interface and is quite a nifty app to have. It can be downloaded for free from the Play Store, and we highly recommend you give it a try right away.
Mvelopes is a very handy app to own for every Android user and comes highly rated from a number of experts. It has been rated by NASDAQ as well, so you know this is one of the best apps out there. In terms of features, the app allows you to import your bank and credit card details for easy monitoring of your finances. There’s a Mvelopes web app as well, where all your finances are easily synced, giving you the option to check your accounts from a desktop browser as well. There are some handy ebooks and videos within the app which will offer you tips on how to save money and handle your finances more responsibly.
One thing I personally like about this app is that financial transactions are listed in an inbox style format on top of each other. This allows you to get a very good reading of your past transactions. It’s a small feature, but a useful one nonetheless. You can grab this app for free from the Play Store. The app is compatible with a series of Android versions, although the Play Store listing doesn’t mention the minimum requirements. The app supports in-app purchases.
Penny is an interactive app which helps you have some fun in addition to tracking your finances. The app has been featured on The New York Times, Forbes, and TIME, so it’s gotten decent traction in the marketplace since its launch. The popularity of the app is a testament to the kind of features it offers, especially for a free application. Speaking about the features, the app gives you a detailed rundown of your expenses and automatically adds expenses in categories, which is a very decent feature to have. After a few days of usage, the app will tell you where you frequently shop and eat.
If the bank is trying to charge an extra fee on your account, the app will automatically inform you of it. This is a crucial feature to have since most bank fees go unnoticed in our personal accounts. The security features built into the app deserve a special mention as well. The company claims that the app was built using industry veterans, ensuring users of the best in terms of security. The app will also remind you when a payment is due on your account, saving you future embarrassment. Naturally, the app is a free download, so we suggest you give it a try immediately. You can’t have too many budget apps on your phone, although it’s recommended to use just one at a time as it can be quite tedious to handle your finances in multiple apps. The app is compatible with devices running Android 4.4 KitKat or higher.
We cannot stress enough just how important a good budget is. By creating a monthly budget, you’re able to stop the “leaks” or “holes” in your budget, and get you right on track to spending money only where you need to. It’s a great way to start putting money aside for an emergency fund as well.
Budgets are extremely freeing, too. By allocating money in the categories where you need to spend or want to spend, you don’t have to feel stressed about spending too much in one area during the month, since you’ve already allocated money to that area. It helps you spend just enough, but keeps you from going over.
And with an app like one of the above, budgeting has never been easier. Our favorite is EveryDollar, which gives you the ability to punch in some number, and create your first monthly budget in just a few minutes.
What’s your favorite budgeting tool? Let us know in the comments section below!