The 7 Best Budgeting Apps for 2024

Rocket Money, securing the seventh spot on 2024's best budgeting apps list, is a hit for its simplicity and effectiveness. Its free version is a dream for those who want a straightforward way to track spending, offering daily updates on transactions and categorizing expenses neatly. It even lets you monitor your bank balances and manage budgets in two categories. For those willing to invest a bit more, the premium version, costing between $3 to $12 per month, ramps up the experience with features like Cancellation Concierge for managing subscriptions and real-time sync for immediate financial updates. 

The standout feature, however, is Rocket Money's bill negotiation service, which takes the hassle out of haggling over bills like cable and internet, although it does come with a 30% to 60% success fee on the first year's savings. Other notable premium features include Pay Advance for those pre-payday cash crunches and a data export option, incredibly handy during tax season. Despite some users finding the pricing model a bit complex and the success fee surprising, Rocket Money is largely praised for making budget management and expense tracking significantly more accessible and efficient. 

Empower Personal Dashboard, sitting at number six on our 2024 list of top budgeting apps, isn't just about giving you a glimpse of your finances. It dives deep, making budgeting a breeze. Whether you're tracking your daily expenses or planning long-term investments, Empower has got you covered. The app excels in offering a clear, consolidated view of all your accounts—be it checking, savings, investments or even those pesky credit card and loan balances. 

But where Empower truly shines is in its budgeting prowess. It's like having a financial wizard in your pocket, constantly analyzing your cash flow and offering smart, tailored advice to boost your savings game. The app's ability to track your real-time net worth and provide detailed insights on where your money's going (or should be going) is a game-changer. With features like these, Empower doesn't just help you manage your finances; it empowers you to make informed decisions that align with your financial goals. 

SoFi is much more than a budgeting app; it's a complete financial ecosystem and it's making waves as a community-focused platform. SoFi positions itself as a tool for proactive financial management, offering up to a whopping 4.60% APY on SoFi Checking and Savings accounts with direct deposit. 

At its core, SoFi Insights, the budgeting tool within the app, is an all-in-one hub for keeping track of your financial life. It's fantastic for monitoring expenses across various categories, from groceries to utility bills and offers monthly savings analysis, along with tips to stay within your budget. The app is also adept at providing a holistic view of your finances, including assets, liabilities and goals. It’s particularly useful for tracking spending progress against monthly targets and planning for upcoming expenses. 

One of the coolest things about SoFi is its community aspect. You can compare your spending habits with others in the SoFi community, which can be a huge motivator to save more. Plus, there's no cost to use SoFi Insights, making it accessible to everyone. And if you're a SoFi member, you can even get a 30-minute consultation with a financial planning professional at no extra charge – a valuable resource for diving into your financial goals and strategies.

EveryDollar snags the fourth spot on our list, shining as a straightforward, no-nonsense budgeting app. Its entire atmosphere revolves around making every dollar count. You start by setting up a monthly budget based on your income and expenses. As you go about your month, simply log your expenses in the app and it'll do the rest—tracking your spending and showing how much you have left in each budget category. It's this simple, focused approach that makes EveryDollar a go-to for those who want to keep a tight rein on their finances without any complicated features. 

PocketGuard, sitting proudly at number three on our list, is like a financial watchdog for your wallet. It brilliantly simplifies budgeting by providing a real-time snapshot of your finances. The app's standout 'In My Pocket' feature is a game-changer—it calculates how much money you can safely spend after your bills, savings and goals are accounted for. This makes PocketGuard particularly useful in situations like planning for a big purchase or a vacation. By clearly showing the available spendable cash, it helps ensure that you're not dipping into funds earmarked for essential expenses or savings goals. 

Goodbudget, a modern twist on the classic envelope budgeting system, secures a notable second position on our list. This app brings the simplicity of allocating funds to different spending categories into the digital realm. Its real charm lies in its adaptability; you can create the envelopes to fit your personal financial goals and needs. What's more, Goodbudget shines in situations where budgeting is a team effort, like with families or couples. Its sharing and syncing features make it a seamless and collaborative tool for managing household finances together, ensuring everyone stays on the same financial page. 

Crowned as the best budgeting app of 2024, You Need a Budget (YNAB) isn't just about tracking expenses; it's a whole new way of thinking about money. YNAB's philosophy? Give every dollar a job. This app champions proactive budgeting, guiding you to allocate each dollar towards specific categories and it's a game-changer for anyone stuck in the paycheck-to-paycheck loop. 

YNAB isn't just numbers and categories; it's about molding your spending behavior. It offers a balance of automation and hands-on management, letting you tweak your budget on the fly to cover any overspending. Plus, its collaborative features and robust educational support make it more than just an app—it's a budgeting partner. Sure, it's not free ($14.99 per month or $99 annually) and there's a learning curve, but users often find the investment pays off big, with significant savings reported in just months. While YNAB may not cover every financial aspect like investment tracking, its focus on budgeting is unparalleled, making it a worthy leader in the budgeting app world.