What is a budget planner tool? It’s something that helps you organize and keep track of your personal finances. Today, there is a wide variety of money management tools available on the market. But what makes a budget planner app successful? Just to name a few points, a budget planner needs to be able to record your expenses and savings or have a monthly calendar. So, in this article, we’re looking into the features of 5 popular budgeting tools for 2021.
1. Mint helps you “spend smarter and save more”. Its intelligent features are free of charge, including a credit monitoring service. It connects financial accounts, tracks, and categorizes transactions. The app has alerts for suspicious activity, and it can also track all bills in one place. You can use it as a reminder for when payments are due and create alerts that will tell you when you’ve spent too much. The tool lets you have an excellent picture of where your money goes monthly.
2.Honeydue is known to be one of the simplest methods for couples to manage their money, together. It is a tool that allows partners to see and manage both financials in one place. This includes bank accounts, credit cards, loans, and investments. Its features also include the possibility to choose how much each partner wants to share, and it is a free budget app. One of its best features is that it automatically categorizes expenses. Nevertheless, users can customize them. You’re also able to set up monthly limits and use a chat.
3.PocketGuard is another free budget app that can connect checks, credit, and savings accounts. It can also detect recurring bills and income. The tool is known for keeping track of the amount available for everyday spending. It does this by subtracting upcoming bills and planned savings or pre-budgeted money. The app allows you to create custom categories, and it also allows you to export transactions.
4.Goodbudget is an app that helps users portion out the monthly income in specific categories, and it does this based on the envelope system. Formerly known as “Easy Envelope Budget Aid”, the tool is suitable for family members or partners, as it lets multiple devices access the same account. Moreover, it is distinct from other apps: it doesn’t require syncing a bank account. You may enter data manually (account balances) or cash. The app has a free version with limited features and a plus version, with unlimited envelopes, accounts, and numerous perks.
5.Last but not least, EveryDollar is a money management tool tailored for zero-based budgeting. This method is known for being effective through the fact that the expenses equal the income. The free version of the tool lets users manually enter data every time they spend money and helps them plan for future purchases. But the upgraded version has extra features, such as connecting bank accounts for streamlined experiences, access to budgeting advice, and many other useful features.
Conclusion
For users that seek help in getting their finances under control, a budgeting app may be ideal. And there are many tools to choose from, each different from the others. Some apps don’t even require you to connect your accounts, they are just simple trackers. Moreover, there are numerous options for working on a budget, from free budget worksheets to budget templates. And it’s easy to find the right tool.
