Many families and couples wants financial freedom in their lives and the best way to achieve that goal of financial freedom is to create a plan for your money. Creating a plan and sticking to it can help you in many ways like paying your bills on time, you can become debt free, invest for the future and simply just enjoy the everyday luxuries of life without having to worry if you can afford it or not.
The process in which one can track his or her expenses couldn't be easy this days if not for technology. These budgeting apps has changed a lot recently with old favorites like Mint going away and new budgeting apps keeps coming up on the scene to make the process even more easier for you than before.
In this article I will be highlighting some features and also sharing the cost of associated with each of these top budgeting apps for families and couples. The aim of this article is to help you find the right budgeting apps for your family, so that you can streamline the entire budgeting process and build a foundation of financial security throughout your lifetime.
The top 5 budgeting apps includes the following;
1. Monarch Money: This app is a powerful tool for all users, whether you are single or a couple, you are going to find this platform equally useful and powerful.
Monarch Money budgeting app is a paid tool but adding other members of your household, like your partner, adult children or even parents who might be living with you comes at no additional cost. You can also determine what data becomes household data, allowing people to keep certain information separate.
It isn't just a budgeting tool either, monarch money budgeting app helps you to track your spending, analyze recurring expenses, encourage you to set and monitor your goals, calculates your net worth and even offers a solid financial advice.
Monarch Money budgeting app has a web-base platform, an app for iOS and Android. So there is also a lot of user flexibility.
Some Features Of Monarch Money Budgeting App
Monarch Money budgeting app has tons of features that you might find interesting.
1. It has a fully customizable dashboard that allows users to work with the data they really want and need .
2. It has the ability to add other household members with separate login criteria.
3. Read-only data access and bank-level security that helps keep your account's information protected.
4. It focuses on future goals and progress towards achieving those goals.
5. It's an ads free platform.
Cost
Monarch Money budgeting app offers a 7-days free trial, which after the free trial period you can then choose either between the monthly or annual plan. The monthly plan cost $14.99 and annual fee cost $99, but when broken down it's $8.33 per month.
2. YNAB: This an acronym for "You Need A Budget". YNAB is a budgeting app created by a former CPA whose name is Jesse Mecham. He is a personal finance expert, speaker, and business leader.
Based on Jesse's four rule method of budgeting, YNAB makes it to our list of the top budgeting apps for families and couples because it helps out people who appreciates being proactive with their finances.
Some Features Of YNAB Budgeting App
YNAB is often recommended by experts in the personal finance space and for some other good reasons. The app has some special features that makes it to stand out amongst other budgeting apps.
1. YNAB is ads-free, which means they don't allow adverts on their app.
2. Real-time synchronization across multiple devices.
3. It helps you to setup spending and saving goals with targets.
4. It has custom spending and networth reports.
5. YNAB Together; This feature helps you to build a budget with people who you share your finances with and it is good for families and couples too.
Cost
YNAB is strictly a paid app while you can try the app out for 34 days for free. The app and all of it's features cost $14.99 per month or $99 per year as at the time of writing this article.
3. EVERY DOLLAR: This app is created by Ramsy Solutions, a business founded by personal finance expert, radio host and best selling author Dave Ramsey. Every dollar budgeting app is specifically geared to those following Dave Ramsey's popular money management system "the baby steps".
Some Features Of Every Dollar Budgeting App
1. The features of Every Dollar Budgeting App includes personalizing categories so that you can have the one you actually need.
2. Ability to split transactions up into different categories.
3. Ability to sync with more than one device so that couples can actually use it together.
4. Ability to set saving goals.
5. You have the ability to receive due date reminders for bills.
6. You can also track debt payoff but that's for premium version.
NOTE: Every Dollar Budgeting App does not offer credit score monitoring or Investment tracking with any of it's subscriptions as at the time of this article.
Cost
Every Dollar budgeting app has the free version and the premium version which requires you to pay.
1. Free version: In the Every Dollar budgeting app free version, you gain access to only the basic budgeting features like Budgeting personalization, Setting up savings funds and also synchronizing the app across multiple devices.
2. Premium Plan/Version: The premium Plan or version as at the time of writing this article is $17.99 per month, or $79.99 per year. In Every Dollar App premium Plan, you gain access to some added features like Connecting your bank accounts, Recommendations based on your purchases, Custom income and Spending reports, Paycheck planning, budgeting insights etc.
4. TILLER: Tiller budgeting app is an automated personal finance service that tracks all of your financial transactions including income, expenses, and account balances through a spreadsheet.
Tiller budgeting app is compatible with Google sheets and Microsoft Excel. It is a great option for those who prefer using spreadsheets.
Some Features Of Tiller Budgeting App
Being a spreadsheet tool only, tiller app has some impressing features which includes;
1. Different types of budgeting templates.
2. Multiple budget dashboards.
3. It has an automated data importation tool. This means that, you don't have to input everything manually.
4. Tiller budgeting app has the ability to categorize transactions automatically and to create custom category levels.
5. It has the option to use zero-sum budgeting.
6. It has customized reports and no ads.
NOTE: Tiller budgeting app is different from many other budgeting tools out there, because it is not a downloadable app but it's on an app list.
It is essentially desktop only, unless you want to download your spreadsheets to your phone using Google sheets or Microsoft Excel apps.
Cost
Tiller budgeting app is a paid subscription, after a 30-days free trial, users pay $79 per year which bills out annually of course and works out to only $6.58 per month.
5. COPILOT: This budgeting app brands itself as the best money tracker app available. Copilot budgeting app is relatively new to the industry but they have bagged a lot of awards including the 2023 finalist app store award.
Some Features Of Copilot Budgeting App
Copilot aims to seamlessly sync your financial data to assist you in creating an optimized budget without having to adjust the total amount of your spending.
1. Copilot budgeting app helps you to track your finances with ease.
2. There is no ads, hidden fees or shenanigans.
3. The dashboard is slick and it allows users to compare their current spending pace against their monthly budget.
4. In copilot, data privacy is top priority.
5. Copilot budgeting app helps you to track your spending, budgets, Investments and your networth.
6. You can be able to review all your transactions and your upcoming recurring bills.
7. Copilot budgeting app is available for Mac, iphone and ipad.
Things I love about Copilot
1. It has a user-friendly interface.
2. It is really intuitive.
3. Their development team is very responsive.
4. It is very easy to recategorize transactions.
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