Best free budgeting apps to help you control your spending

If you’re looking for ways to control your spending, budgeting apps (or budget planner apps) can help you in many different ways. They can give you insight into how and when you’re spending, so you can have maximum control over your money. But the best budgeting apps can do even more than that.

There are many (free) budgeting apps available and they come in many shapes and sizes. Many of them have different functions and features. With so many options available it can be hard to sort through them all and find the perfect app for you. For that reason, we’ve set up a list of the best free budgeting apps in 2022.

How to choose a budgeting app

What do you need to look out for when choosing the best budgeting app for you? There are a couple of things, but they boil down to costs, features and security.

• Cost – Some budgeting apps cost money to use. Many more have premium options. Some of those options may make it possible for you to save money down the line. Try to consider if paying for a budgeting app is worth it to you.
• Features – Connected to the first point, not every app offers the same amount of features. Ask yourself what kind of budgeting you want to do with the app. Do you want to plan ahead and decide what you’ll spend on, or do you want to look back and track what you’ve already spent your money on? Understanding what you want out of the budgeting app is a major part of choosing the right one.
• Security – Security is important especially when you connect your bank accounts to your budgeting app. Most budgeting apps offer some level of security, but some might be better than others.

Best budgeting apps of 2022

So what are the best budgeting apps in 2022? It depends a bit on what you want to use them for. Below we’ll discuss five of our favourite apps in their category, including what they work best for, and what their possible downsides are. The apps discussed below are free budgeting apps. They do offer some paid premium features, but you don’t necessarily need those.

• Wallet – The powerful allrounder

Of all the free budgeting apps here, Wallet offers the most features. It tries to be the perfect budgeting app for everyone. In it, you can link bank accounts in many different countries. Track your spending and plan ahead.

All those features make Wallet a powerful tool that takes a while to set up. Luckily Wallet offers plenty of tips and tricks to set up your budgeting system to your preferences and needs.

Advantages – Easy to connect bank accounts, lots of features even in free version

Disadvantages – Takes some time and work to set up

• Goodbudget – For hands-on budgeting

Goodbudget is for those who want to plan ahead rather than track their previous expenses. It works with the so-called envelope system. That means you divide your monthly income into different categories called envelopes.

You can’t sync your bank accounts with the Goodbudget app. Instead, you have to manually add every transaction. If you are looking for a hands-on free budgeting app, this is perfect. But if you’re looking for a simple way to get insights into your spending, this might not be the app for you.

Advantages – Good for planning ahead, very customizable

Disadvantages – No syncing means you need to manually add every transaction.

• Unsplurge – Best for saving up for a specific item

Unsplurge is a fun app that is unlike any other budgeting app. It is not intended to be a complete budget management tool, but rather one that helps you in budgeting and saving for a specific item or event. It’s a fun app to use when saving for a new car, a down payment on a home, a vacation, or a wedding.

In Unsplurge you add your income and expenses. Then you tell it your goals, whether it’s saving up for something or cutting down on your expenses. It helps you get there by offering tips and monitoring your progress.

In the end, Unsplurge helps you gain control over your finances so you can make decisions on bigger expenses with confidence.

Advantages – Good for saving up, easy to use, helps you get to your goals

Disadvantages – not a total budgeting tool, only on iOS.

• Mint – The most popular budgeting app

Mint is one of the best known and popular budgeting apps on the market right now. You can link your credit and debit cards to the app. Mint will then categorize your spending into categories. You can set limits per category and Mint will automatically warn you when you’re approaching the limit.

​​Get alerts when you go over budget, track spending by category, or look at your overall cash flow to get an overview of where your money goes each month.

Advantages – Easy to use, automatic tracking of spending, free version comes with many features.

Disadvantages – Automatic syncing with bank accounts work in the US and Canada alone.

• PocketGuard – Best for guarding against overspending

It’s already there in the name. PocketGuard helps you guard your finances against overspending. It’s one of the easiest free budgeting apps to use and link your personal finances with.

PocketGuard tracks your income, what you are spending on recurring bills and everyday expenses, and it tracks deposits into your savings account. That way you get a good overview of your finances.

A big extra from PocketGuard is that it can help you find opportunities to save money. The app looks out for recurring expenses for your phone, TV or gas utilities, for example. It can then help you find a better deal for your monthly services. It doesn’t only help track your budget, it helps you lower your spending.

Advantages – Easy to use, helps you lower your expenses

Disadvantages – Pro version costs extra, not available outside US

Keep an eye on our Blog for more tips to control your spending, including using prepaid credit cards and spending less on your mobile bill.