The Best FREE Budgeting Tools and Apps

This post may contain affiliate links that earn me a small commission, at no cost to you. As always, I only recommend links I personally use and love!

Managing your finances can be a daunting task, but it doesn’t have to be. With the right tools, budgeting can become a breeze. Whether you’re trying to save for a big purchase, pay off debt, or simply get a better handle on your spending, there are plenty of free financial tools out there that can help. In this post, we’ll explore some of the best free budgeting tools available to help you take control of your finances.

Google Sheets

Google Sheets is a versatile tool that can be used for budgeting. It offers a variety of free budgeting templates that you can customize to suit your needs. The best part? You can access your budget from anywhere, making it easy to update and track your spending in real time.

You can check out some Google Sheets Templates to help you get started.

Mint

Mint is a popular free budgeting app that syncs with your bank accounts and credit cards, providing a comprehensive overview of your finances. It categorizes your expenses, helps you create savings goals, and even offers credit monitoring services. With its user-friendly interface and robust features, Mint makes budgeting simple and straightforward.

You can visit the Mint website to sign up or download their app. Mint is owned by Intuit, the creators of Turbo Tax, so you know your financial information will be safe and secure.

Goodbudget

Goodbudget is a great tool for beginners. It uses the envelope method of budgeting, where you allocate a certain amount of your income to categories like groceries, rent, and debt payoff. While it doesn’t sync with your bank accounts or credit cards, the manual entry of data can help you be more mindful of your spending habits.

Goodbudget offers a “free forever” account which includes 10 regular envelopes, 10 more envelopes, and 2 devices. Track your debt payoff progress while still setting aside money for other things.

Expenses OK

Expenses OK is a free app that simplifies the process of budgeting. It’s like using a notebook and pen, but with the convenience of digital recordkeeping. You manually enter each transaction, which can help you become more aware of your spending habits. However, it’s worth noting that Expenses OK is currently only available for iOS devices.

Empower (Formerly Personal Capital)

If you’re an investor, Empower (formerly Personal Capital) is a free budgeting tool that’s worth checking out. It not only tracks your spending but also provides a breakdown of your investment portfolio. Plus, it offers free investing tools, such as a retirement planner and a fee analyzer to check portfolio fees.

MoLO

MoLO, which stands for Money Left Over, is a relatively new, ad-free app that provides a simple method for users to understand their spending, predict their monthly cash flow, and identify unnecessary or non-essential spending. Users can connect all their financial accounts to MoLO, which will automatically track spending, organize it into categories, and predict how much you’ll have left each month. The app is free for both Apple and Android devices.

SoFi Insights

Formerly known as SoFi Relay, SoFi Insights is a free budgeting app that allows users to link accounts, review balances, and set spending targets. It aggregates accounts and makes it easy to review spending by category. The app also provides access to VantageScore 3.0 credit scores and makes it simple to connect with a professional to discuss financial goals and strategies. SoFi Insights users are entitled to a complimentary 30-minute call with one of the company’s in-house financial planners.

GnuCash

For small business owners, GnuCash is a free desktop software that uses the double-entry accounting method to track your income, expenses, and investments. It also offers basic accounting functionality for small businesses to manage invoicing, bill payment, and payroll.

You can visit the GnuCash download page to download the software for your Linux, Windows, or macOS computer. GnuCash is developed, maintained, documented, and translated entirely by volunteers.

Banking Tools and Apps

Don’t overlook the free budgeting tools provided by your bank. Many financial institutions, including Bank of America, Chase, and local credit unions, offer budgeting resources that can track expenses, run spending reports, and export data to spreadsheets or computer software. These tools are often integrated with your online banking account, making it easy to manage your budget and bank accounts in one place.

Budgeting doesn’t have to be a chore. With these free financial tools, you can easily track your spending, set financial goals, and manage your money more effectively. So why wait? Start exploring these tools today and take the first step towards better financial management.

Remember, the key to successful budgeting is consistency. So, choose a tool that you’re comfortable with and stick with it.