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Mint used to be at the top of just about every list for the best budgeting apps, but if you see it appear on one now, that list is outdated. The popular app shut down in the spring of 2024, leaving millions of people searching for a new way to manage their money.
Thankfully, if you’re one of these people, you have plenty of other options. These six candidates are worth exploring.
Rocket Money
$4 and $12 a month
Key Features
Bill negotiation
Net worth tracking
Automated savings
Credit score viewing
Credit report tracking
Account sharing with a partner*
PocketGuard
$12.99 per month or $74.99 per year
Key Features
Automated savings*
Bill payment tracker*
Debt pay-off planning*
Billshark bill negotiation
Account sharing with a partner
Quicken Simplifi
$2.99 per month
Key Features
Savings goals
Projected cash flow
Lots of custom reports
Budget sharing with a partner
Combined account dashboard
Investment, net worth and refund trackers
YNAB
$14.99 per month
Key Features
Savings goals
Loan payoff planner
Free live workshops
Spending and net worth reports
Zero-based budgeting approach
Budget sharing with up to five people
Monarch
$8.33 per month
Key Features
Savings goals
Monthly reports
Networth Tracking
Cash flow diagram
Budget sharing with a partner
List of transaction across all accounts
Albert
$14.99 per month
Key Features
Fraud monitoring
Cash-back debit card
Early paycheck feature
Connect to finance experts
FDIC-insured savings products
Investment portfolio management and automatic investing
What to look for in a budgeting app
A free trial period: Choosing the right budgeting tool should be like choosing a new car -- you should be able to take it for a test drive. Most budgeting apps offer free trial periods that range from a week to a month. Use those free windows to compare your options and get a sense of what works best for your lifestyle.
The ability to grow with you: You might be focused on reducing your spending or paying off your credit card bill right now. Down the road, though, you may want to monitor investments and plan for retirement. Look for an app with robust enough features to serve you as your needs evolve.
The security protocol: Anytime you share your banking information, it’s essential to verify that the company is doing everything possible to protect it. Make sure the app uses bank-level security so your data is encrypted at the highest level.
What the app does with your data: Your budgeting app will know everything about you -- what you’re buying each week, what kind of credit card you have, how much you spend on your housing payment and more. Some apps use that information to target you with advertisements for new products or services from its marketing partners, so be sure to read the privacy policy before signing up.
Alternatives to using a budgeting app
A budgeting app can be very helpful, but there are other ways to manage your money. Most big banks offer helpful budgeting features within their apps. For example, PNC’s Virtual Wallet provides a categorized look at your spending, and the Chase mobile app includes a day-by-day spending breakdown for your credit and debit cards. Before you add another app to your phone, review your bank’s app to determine if it can help you make better decisions with your money.
If you don’t want to use your phone to monitor your cash flow, consider creating an Excel spreadsheet or going old-school: Sit down every week with a pen and a piece of paper to crunch your numbers.