There is an abundance of programs designed to help you save and grow your hard-earned dollars. The best personal finance management apps make it easy to stay on top of your finances, from income and spending to savings and investments. These include budgeting, financial education, money management, bill-tracking, and investment apps.
These applications simplify personal financial management by letting you consolidate your records and backing them all up in one place, often using cloud storage for more flexibility. Some of these types of mobile apps and online solutions are completely free to use, while others offer both free and paid options with monthly or annual plans.
Continue reading to discover the best personal finance apps of 2022 that can help you gain control of your finances and increase your net worth.
1. EveryDollar
EveryDollar from Ramsey Solutions is an online budgeting tool with free and premium versions. This program stands out for its user-friendly, everyday language to walk you through the budgeting process.
The free version of EveryDollar is useful for manually setting up a basic budget. You can customize your budget, create virtual savings funds for emergencies or big purchases, set up due dates for bill payments, and track your debt payments.
The premium version of EveryDollar lets you sync all your bank savings and investment accounts, generate customized budget reports on your income and spending, track your transactions, and receive tracking recommendations and reminders.
- Monthly Plan: $12.99/month
- Annual Plan: $79.99/year
- 14-day free trial
2. Mint
Mint by Intuit is perhaps the best free tool for budgeting and tracking your finances. It includes basic budgeting features such as bill payment reminders and customizable alarms when you go over your budget.
Mint syncs your bank accounts, retirement accounts, and credit cards to help you keep track of your income, savings, and spending. It includes a daily budget planner that recommends budget goals (which you may add to and adjust) depending on your spending. The app automatically updates and categorizes your expenses, but you may also edit and add categories as needed. Moreover, the app lets you set your own savings goals and track your investments.
Mint stands out from other budgeting apps by offering credit monitoring in addition to budgeting and money tracking. You have round-the-clock access to your credit score, a credit report summary, and notifications of changes in your credit report.
Plan: Free
3. Personal Capital
Personal Capital ranks well because it provides the best free wealth-building tools. While most personal finance apps focus on essential personal finance features such as budgeting and expenditure tracking, Personal Capital focuses on investing and retirement planning.
The program offers different views of your holdings and retirement projections. It also includes transaction management and cryptocurrency tracking tools. Personal Capital lets you see how your actions today impact your capacity to retire when you choose.
With Personal Capital, you can personalize your budget, plan long-term financial actions, and track the health of your investments and net worth. The app is free, but you may upgrade and add investment management services for 0.89% of your money for accounts under $1 million.
Plan: Free
4. Simplifi by Quicken
Simplifi by Quicken, as the name suggests, is a simplified approach to personal finance. This cloud-based program lets you keep track of your money and budget from anywhere. It provides a visual overview of your financial health and a personalized spending plan with real-time updates on how much you have left to spend during the month.
The app syncs your bank accounts to show you where you stand and how far you've come toward reaching your financial goals. It also keeps track of your monthly payments and subscriptions, categorizes your spending automatically, and provides a trend analysis of your income, savings, expenses, and more.
The Simplifi app has robust budgeting features that let you customize watchlists to track and limit your spending by category or payee. The personalized spending plan also monitors cash flow to ensure that you never spend more than you earn. Aside from providing tips while using the app, Simplifi also has a blog full of educational content to help you stay on top of your finances.
- Monthly Plan: $5.99/month
- Annual Plan: $47.88/year
- 30-day free trial
5. YNAB
YNAB is a multi-platform program based on four core ideas designed to help you become more financially aware:
- Give every dollar a job
- Embrace your true expenses
- Age your money
- Roll with the punches
YNAB, which stands for You Need a Budget, has a very clear mission. Unlike other personal finance apps, YNAB concentrates on creating zero-sum budgets that promote mindfulness when it comes to money management and budgeting.
It takes a proactive approach to budgeting rather than tracking what you've already spent. After you sign up, you build your first budget and assign each dollar a purpose, such as your rent, utilities, and monthly transportation costs. The idea is to eventually be at least one month ahead of schedule, so you're spending money you earned a month ago.
The application helps you manage your expenses, pay off debt, save more, grow your wealth, and gain complete control of your financial future. The app may be difficult to master, but it offers a wealth of instructional tools and customer support to keep you on track.
- Monthly Plan: $14.99/month
- Annual Plan: $98.99/year
- 34-day free trial
Final Thoughts
Each of these applications improves your financial well-being in some manner, but the best app for you will depend on your specific needs and preferences. Whether it's having enough for your short-term financial needs, planning for retirement, or saving for your child's college education, the best personal finance apps can help you achieve your financial goals.
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