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As the New Year approaches, individuals and small businesses seeking budgeting tools can explore various apps. For individuals:

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As we approach the New Year, you may be interested in creating a budget for yourself, or you may be looking for a new tool to help manage the budget of your startup or small business. You may be looking to replace your current budgeting app with a better one, or you may have traditionally relied on spreadsheets. Although spreadsheets can be a simple way to manage and track a budget, it may be worthwhile to investigate budgeting apps to save time and effort. We’ve compiled two lists of apps that we believe are excellent budgeting tools for individuals and small businesses.

Individuals can benefit from a good budgeting app by creating and adhering to a monthly budget. A good budgeting app can help startups and small businesses understand their financial health and make informed decisions. Whatever route you take, the best budgeting app for you will be determined by your personal or business needs, so we’ve included a variety of apps to assist you in finding one that works best for you.

Best apps for individuals

Good budget

Image Credits: Good budget

If you’re just getting started with budgeting, Good budget is a good app to use. It employs the envelope system, which is one of the oldest methods of money management. A good budget ensures that you are never caught off guard by a bill or an unexpected expense. You set aside money each month for necessities such as groceries and gas. After you’ve saved enough money for the necessities, you can decide how to spend the rest based on your priorities.

If you live in a shared household, the app allows you to sync your budget with another person. Good budget has a free version as well as a paid version that costs $8 per month. The free version includes everything you need to manage a budget, while the paid version adds email support, unlimited envelopes, and the ability to use the service on five devices rather than just two. One disadvantage is that you must manually enter your transactions in the app because it does not connect to your bank account.

PocketGuard

Image Credits: PocketGuard

PocketGuard may be the best app for you if your main goal is to track your spending. PocketGuard calculates your spendable income after you’ve set aside enough for bills, goals, and necessities. The app displays a pie chart so you can see which expenses are consuming the most money. To ensure that you are not spending beyond your means, you can set spending limits in the app.

PocketGuard connects your banks, credit cards, loans, and investments in one place to help you keep track of your account balances, net worth, and other financial information. The app has a limited free version and a paid version that costs $8 per month and unlocks features such as the ability to create your own spending categories, set a debt payoff plan, attach receipts, export transaction data, and more.

Honeydue

Image Credits: Honeydue

If you want to plan and manage your finances with your partner, Honeydue is a good budgeting app. Your and your partner’s bank accounts are synced by the app. Honeydue allows you to manage your money as a couple while tracking expenses and communicating about bills. You can use the app to communicate with your partner and decide whether one of you will cover a bill or split it evenly.

In addition, the app provides its own joint bank account. Honeydue is a free option for couples who do not want to pay a monthly subscription. One disadvantage is that there is no desktop version of the app, so if you prefer to manage your finances on a larger screen, Honeydue may not be the best option for you.