The 5 Best Budgeting Apps of 2020 (Compare & Manage your Finances) – Updated 2023

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Despite the over-abundance of free or low-cost finance tools, many people still find it difficult to get their personal finances under control.

Budgeting apps offer the perfect solution. Designed to help the average consumer with general personal budgeting capabilities, these apps and tools enable users to take control of their personal finances.

Consistent budgeting using these tools will help prevent bank accounts from ever running low. The fact that most of these tools cost little or nothing makes them even more appealing. Plus, these tools can be synced on iOS devices, Android phones, and personal computers.

Here are the 5 Best Budgeting Apps of 2020.

Each of these tools specializes in personal budgeting tools but each with unique features –

1. CalendarBudget


CalendarBudget is a personal finance tool that runs on both PC browsers and in-app on mobile devices. Accounts are auto-synced between platforms. Users can create their accounts and sync them on different platforms. This tool is number one on the list because of its simplistic user interface.

Amateurs who are unfamiliar with accounting apps will find it very easy to track and plan their income and spending with personalized categories using this tool.

Users with a sporadic income can benefit from tracking their income just as easily as those with a steady salary, and also track their day to day expenses on CalendarBudget.


  • Helps users proactively plan their budgets
  • Users can add upcoming expenses to the calendar
  • Compare expected expense with actual cost once purchased 
  • Easy to use
  • Inexpensive
  • Amazing customer service
  • 30-day free trial

Pricing Plan

30-day free trial, $3.99 Monthly or $40 yearly ($7.88 savings)
Unlimited accounts and devices, social media, forum, and email support

2. Mint


In the world of budgeting apps, Mint is the most well-known name. Developed by reputed app-developing company Intuit, Mint offers users a wide range of features that help them track and supervise their financial transactions.

The app comes with in-built lists of the world’s leading banks, credit card issuers, and other top financial organizations. Users can have their transactions automatically categorized. Then, they can use the app’s budgeting tools to track spending on debit/credit cards.

Track all expenses against a fixed budget (users can set fixed budgets at the start of every month/week) and make appropriate changes after each spending.


  • Users receive alerts whenever they exceed their budgetary limitations.
  • In-app features make it very easy to track spending by category
  • The basic version is free to use
  • Automatic syncing of budgeting tools with user accounts makes the app very easy to use

Overall, Mint is the ideal app for tracking cash flows. By using this app, users can get a clear picture of their monthly spending habits.

3. Goodbudget


Goodbudget follows the age-old ‘envelope system’ of budgeting. Users can allocate portions of their monthly revenues to different categories. For instance, one category can be for rent and another for private expenses.

Goodbudget is ideal for families, as multiple users can access one account from different devices. So, each family member can make changes to the budget whenever they make a purchase or need to adjust the family budget.

Goodbudget doesn’t force users to sync their bank accounts. Instead, users have an option to manually integrate account balances from their banks’ websites. The app allows users to divide the budget into debts, cash spending amounts, etc. After syncing their account balances, they can allocate money towards different ‘envelopes.’


  • Premium version of the app allows users access to multiple accounts, up to five devices, and unlimited envelopes.
  • Inexpensive

Goodbudget is the perfect budgeting tool for families looking to cut costs.

Pricing Plans

$0 Plan (Free Forever) – Only 1 Account, 2 devices, Community support

PLUS PLAN ($7 per month or $60 Annually) – Unlimited account, 5 devices, Email support

4. PocketGuard


This aptly named budgeting tool is designed for people who consistently fail to cut their monthly spending. Users can link their monetary accounts on PocketGuard and track each transaction over a one-month period.

  • Super-easy to set up
  • Users can cut costs by tracking both monthly and daily expenses
  • Allows users to track deposits into a savings account
  • Create and track specific categories of spending (e.g., groceries, clothing, etc.)
  • Users can also track individual bills and discover cost-cutting option

5. You need a Budget (YNAB)

You need a Budget

The You Need A Budget or YNAB budgeting tool is based on the ‘zero-based’ budgeting system. Users get to plan each transaction.

The premium version of YNAB offers a plethora of features. Users can connect their bank accounts, set monthly financial targets, track saving and create personalized spending categories.


  • 34-day free trial
  • The app is full of budgeting advice, blogs, workshops, etc.,
  • Ideal for both individuals and families.
  • Available on both desktop and mobiles
  • Track advanced expenses like debt payoff

Pricing Plan

Monthly Plan – $11.99/month

Annual Plan – $84/Year ($59 Savings)

You can cancel any of the above plans anytime whenever you wish to.

Final Conclusion

These high-quality budgeting apps will help users gain an overall picture of their spending habits!