3 Best Budgeting Apps for Personal Finances in 2020

3 Best Budgeting Apps for Personal Finances in 2020

Updated September 7, 2020
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Are you looking for an easier way to create a budget and manage your finances? Check out 2020's three best budgeting apps.

Budgeting apps are making it simple to organize your personal finances and remove the anxiety around money management.

There are several budgeting apps to choose from; here are the 3 of the best budgeting apps for tracking expenses and your personal finances in 2020.

1. Mint

If the idea of budgeting freaks you out, Mint is a great place to start.

The Mint app connects to all of your financial accounts – bank accounts, credit cards, investments, and more – and centralizes all the information in one easy-to-read dashboard.

Mint will organize all of your purchases into categories for you, such as groceries, travel, even rent or mortgage. It makes creating a budget a much simpler task for you, because it makes your spending history easy to analyze. Mint can even create a budget for you, based on past spending and average spending per category. You're able to customize their suggested budget, or leave it as is.

Once you have set up your budget categories, Mint will send alerts if you exceed your budget or you have an upcoming bill to pay. Mint also displays your credit score for easy access.

Mint's service is free, you can download the mobile app directly to your phone at no cost.

2. Goodbudget

Goodbudget requires a little more effort, but is easy to use and has both free and premium plan options depending on what you are looking for.

Once you have supplied your monthly income, you can organize your expenses into different "envelopes" for things like restaurants, clothing, or cell phone bill. You have total control over how you spread your money across those envelopes.

The premium plan allows you to use more envelope categories and gives you access to their email support, but even the free version can help you get organized and see how you are spending money.

3. Clarity Money

Clarity Money not only syncs all of your financial accounts, it also helps you identify recurring costs for memberships and subscriptions that you may have forgotten to cancel.

The app is free, it shows your credit score, and even allows you to save money in a FDIC insured account. If you are looking to stay organized with the benefit of trimming spending, Clarity Money might be a good fit.

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