Budgeting

Advertising Disclosure

Any opinions, analyses, reviews or recommendations expressed in editorial content are of the author alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser. We make every effort to provide up-to-date information, however we do not guarantee the accuracy of the information presented. Consumers should verify terms and conditions with the institution providing the products. Articles may contain some sponsored content, content about affiliated entities, or content about clients in the network.

Editorial Note

LowerMyBills is compensated by third-party advertisers, however, any opinions, analyses, reviews or recommendations expressed in editorial content are of the author alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser. While reasonable efforts are made to maintain accurate information, the information is presented without warranty.

Get the low down on budgeting

tips, tricks and apps to help you get your finances in order

Our Top Budgeting Apps of 2020

The average American household has a credit card debt of over $8,000. There are many reasons why that might be. For example, it might be due to medical bills, home repairs, or day-to-day expenses.

One of the best ways to prevent this problem is to budget your money. It’ll ensure that you’ll always have enough for the things that you need. For example, it’ll come in handy if you’re shopping for a mortgage

Need some help creating a monthly budget? You can always use a budgeting app on your smartphone. If anything, it’s one of the best things that you can use to improve your financial situation!

Want to know what some of the best apps are? Then be sure to check out the rest of our budgeting 101 guide!

Our Top Budgeting Apps 

Looking for a personal finance app with budgeting tools? Here are a few that are available for both Android and Apple devices.

1. PocketGuard 

PocketGuard is a budget management app that you can connect to your credit or debit card account. In doing so, you can easily view all of your transactions.

Not only that, but the app will tell you exactly how much you’re able to spend per day. It does this by taking into account your previous purchases and bill payments. That way, you won’t have to worry about overspending!

2. MoneyStrands

MoneyStrands is a free app that you can use to track your spending habits. All you have to do is link it to your bank account!

Free to use, it also comes with a calendar feature that allows you to track spending and see when you’re making your purchases as well as when your paycheck comes in. That way, you’ll be able to better understand your financial picture.

3. Spendee 

Spendee is known for its bright, user-friendly interface. You can use it to categorize your expenses, create a budget, keep track of your receipts, and more. If you want, you can also subscribe for more features.

One of the best things about the mobile app is that you can view all of your expenses in one feed. There’s also an “Overview” mode, where you can see your spending habits as an infographic.

4. YNAB

YNAB (You Need a Budget) is designed to help get you out of debt. Simply connect your accounts and you’ll be able to see your transactions in real-time.

Not only is it great for creating a budget, but there’s also a tracker for your daily expenses. There’s also an option to sync the app with your other devices so that you can access your data from anywhere.

Creating a Budget 

And there we have it—a mini budgeting 101 guide! As you can see, there are various budget apps that you can use for money management—just download them from the app store.

Looking for more money-saving tips? If so, make sure to check out the rest of our site!

    Budgeting FAQs

    What is budgeting?

    Budgeting is when you create a plan on how to spend your money. Not only can it help you from overspending, but it can help you save as well.

    On top of that, it can help you reach your financial goals. For example, you can set aside a certain amount each month if you plan on launching your own business. 

    How can i put together a budget?

    Putting together a personal budget consists of the following:

    1. Put together all of your financial statements
    2. Put together a list of all of your sources of income and expenses
    3. Break out your expenses by fixed and variable
    4. Match up all of your monthly income and expenses
    5. Find areas to cut your variable expenses

    Latest Personal Finance Reads

    How to Receive Free Gift Cards Online
    How to Receive Free Gift Cards Online

    When it comes to buying the things you want, it can be easy to overlook some of the great deals out there. There's no such thing as a free lunch, right? But the truth is, there are plenty of opportunities to get a great deal on the food, services, items, and...

    List of Banks Offering Financial Help During COVID-19
    List of Banks Offering Financial Help During COVID-19

    22 million Americans have filed for unemployment since the shutdown. With so many facing financial hardships like never before, COVID-19 has left many Americans in need of financial assistance. Banks, auto insurers, state governments, and the federal government are...

    Minimum Credit Card Payment: What You Need To Know
    Minimum Credit Card Payment: What You Need To Know

    Credit cards and other types of revolving debt have shot up nearly 20% from 10 years ago, crossing the $1 trillion mark. The average credit card balance is nearly $6,200 and many consumers have more than one. This has led to many people making the minimum credit card...

    How to Cut Your Cable Bill and Get More for Less
    How to Cut Your Cable Bill and Get More for Less

    You know when you have that stack of mail and out peeks the monthly bill from the cable company? It's an almost universal reaction to groan. If you're like most people, the first thought that runs through your head is I'm paying all this money and still can't find...

    How to Drastically Cut Household Expenses
    How to Drastically Cut Household Expenses

    49% of Americans live paycheck to paycheck, and more than half don't have emergency funds to cover up to 3 months of expenses. If you find yourself wondering why you don't have anything left over at the end of each pay period, it might be time to look at new ways to...

    How To Deal With Financial Stress During COVID-19
    How To Deal With Financial Stress During COVID-19

    COVID-19 has changed our world as we know it. Practically, no matter where you live in the US, the coronavirus has turned Americans' lives upside down or, at the bare minimum, cause some real disruptions to everyday life.  Getting just a snippet of news can...