Best Budgeting Apps for Families in 2024

Last updated on September 4th, 2024 at 10:04 am

Managing a family budget can often feel like juggling flaming swords while riding a unicycle—there’s always something urgent demanding your attention, whether it’s the grocery bill, kids’ activities, or an unexpected car repair. But don’t worry, you don’t have to handle it all by yourself. In 2024, budgeting apps for families , friends & couples are here to make your life easier.

Here’s how they can help:

Track Your Spending: Budgeting apps can automatically track your expenses and categorise them, so you get a clear picture of where your money is going without having to manually add everything up.

Set and Save for Goals: Whether you’re saving for a vacation or building an emergency fund, these apps can help you set goals and create a savings plan. They can even remind you to stay on track.

Teach Kids About Money: Some apps come with features that let you involve your kids in budgeting and saving. It’s a great way to teach them about money management in a fun and interactive way.

With these tools at your fingertips, managing your family budget can become a lot more manageable and even a bit less stressful.

If you’re feeling a bit overwhelmed by all the options out there, don’t worry—we’ve done the research for you. Below, you’ll find a roundup of the best budgeting apps for families in 2024. These apps are designed to make your financial life a little bit easier, so you can focus on what really matters—spending time with your loved ones.

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1. YNAB (You Need A Budget): The Gold Standard Let’s start with one of the most 

Popular and highly regarded budgeting apps out there: YNAB, short for You Need A Budget. If you’re serious about getting your family’s finances in order, YNAB is worth considering. This app is based on a simple, yet powerful, principle: every dollar you earn should have a job.

For Budgeting

Why Families Love YNAB:

Goal-Oriented Budgeting: YNAB encourages you to set specific goals for your money, whether it’s saving for a vacation, paying off debt, or building an emergency fund. This makes it easier to stay focused and motivated.

Real-Time Syncing: YNAB syncs across all your devices, so you and your partner can both stay on top of your finances, even when you’re on the go.

Educational Resources: YNAB offers a wealth of tutorials, webinars, and articles to help you become a budgeting pro. It’s like having a personal finance coach in your pocket.

No Surprise Bills: YNAB’s approach to budgeting means you’ll always know where your money is going, which helps you avoid those end-of-month surprises.

Drawbacks:

Learning Curve: YNAB’s method can take some time to get used to, especially if you’re new to budgeting. But once you get the hang of it, the payoff is worth it.

Subscription Fee: YNAB isn’t free—it costs about $14.99 per month or $98.99 per year. However, many users find the investment pays for itself through better financial management.

2. Mint: The All-in-One Solution

Mint has been around for years and remains one of the most popular budgeting apps for a reason—it’s comprehensive, easy to use, and, best of all, free. Mint connects to your bank accounts, credit cards, and bills, giving you a complete picture of your financial life in one place.

Why Families Love Mint:

Automatic Categorization: Mint automatically categorizes your transactions, making it easy to see where your money is going without having to input everything manually.

Bill Tracking: Mint tracks your bills and sends you reminders so you never miss a payment. It’s a lifesaver for busy families who have a lot on their plates.

Credit Score Monitoring: Mint offers free credit score monitoring, which is a nice bonus if you’re working on improving your credit.

Customisable Budgets: You can set up custom budgets for different categories, like groceries, entertainment, and gas, so you can easily see if you’re sticking to your spending limits.

Drawbacks:

Ads: Because Mint is free, it’s ad-supported. This means you’ll see offers for credit cards, loans, and other financial products, which some users find annoying.

Privacy Concerns: Some users are uncomfortable with the idea of linking their financial accounts to a third-party app, even one as well-known as Mint.

3. EveryDollar: A Simple, Effective Approach

EveryDollar is a budgeting app developed by Ramsey Solutions, the company behind financial guru Dave Ramsey. It’s built around the principles of zero-based budgeting, which means you assign every dollar a purpose before the month begins.

Why Families Love EveryDollar:

Simple Interface: EveryDollar’s interface is clean and easy to navigate, making it a great choice for families who want to get started with budgeting quickly.

Built for Zero-Based Budgeting: If you’re following Dave Ramsey’s baby steps, EveryDollar is the perfect tool to help you stick to the plan.

Customisable Budgets: EveryDollar lets you create custom budget categories and set spending limits for each, so you can tailor the app to your family’s needs.

Baby Steps Integration: If you’re on the Dave Ramsey plan, the app integrates with the Baby Steps, allowing you to track your progress toward becoming debt-free.

Drawbacks:

Limited Free Version: The free version of EveryDollar requires manual entry of your transactions, which can be time-consuming. To connect your bank accounts and get automatic transaction imports, you’ll need to upgrade to EveryDollar Plus, which costs $12.99 per month.

Basic Features: EveryDollar is great for budgeting, but it lacks some of the more advanced features that other apps offer, like investment tracking or bill reminders.

4. Good budget: Old-School Envelope Budgeting with a Modern Twist

Goodbudget is based on the classic envelope budgeting method, where you allocate cash to different spending categories (or “envelopes”) and only spend what’s in each envelope. Goodbudget brings this old-school method into the digital age, allowing you to manage your envelopes on your smartphone.

Why Families Love Good budget:

Shared Budgeting: Goodbudget is designed for sharing, so you and your partner can manage your budget together, even if you have separate accounts.

Envelope Budgeting: If you prefer a more hands-on approach to budgeting, Goodbudget’s envelope system is a great way to stay disciplined.

Debt Tracking: Goodbudget includes tools to help you track your debt payoff progress, which is a nice touch if you’re working on becoming debt-free.

Community Support: Goodbudget has a strong community of users who share tips and advice, making it easier to stay motivated and on track.

Drawbacks:

No Bank Syncing: Unlike many other budgeting apps, Goodbudget doesn’t sync with your bank accounts. This means you’ll need to manually enter your transactions, which can be a bit of a hassle.

Limited Free Version: The free version of Goodbudget only gives you 10 envelopes, so if you have a lot of budget categories, you’ll need to upgrade to the paid version, which costs $7 per month or $60 per year.

5. PocketGuard: Simplify Your Spending

If you’re looking for an app that helps you manage your money without a lot of bells and whistles, PocketGuard might be just what you need. PocketGuard’s main feature is its “In My Pocket” calculation, which shows you how much money you have available to spend after accounting for bills, savings goals, and other expenses.

Why Families Love PocketGuard:

Simple and Straightforward: PocketGuard is all about simplicity. It’s designed to help you quickly see how much money you have left to spend, making it a great choice for busy families who don’t have time for a lot of detailed budgeting.

Spending Insights: PocketGuard breaks down your spending into categories, so you can easily see where your money is going and make adjustments if needed.

Bill Negotiation: PocketGuard offers a bill negotiation service, where they’ll work on your behalf to lower your monthly bills for services like cable, internet, and cell phone.

Safe and Secure: PocketGuard uses bank-level security to protect your financial information, so you can use the app with peace of mind.

Drawbacks:

Limited Features: PocketGuard is great for tracking spending, but it lacks some of the more advanced budgeting features that other apps offer, like goal setting or envelope budgeting.

Subscription Fee: While PocketGuard offers a free version, the full-featured version, PocketGuard Plus, costs $7.99 per month or $34.99 per year.

6. Honeydue: Budgeting for Couples

If you’re looking for an app that’s specifically designed for couples, Honeydue is worth checking out. Honeydue allows you to share financial information with your partner, track joint expenses, and communicate about money matters all in one place.

Why Families Love Honeydue:

Shared Budgeting: Honeydue makes it easy to share your budget with your partner, so you can both stay on the same page when it comes to spending and saving.

Customisable Categories: Honeydue lets you create custom budget categories that fit your family’s unique financial situation.

Bill Reminders: Honeydue sends you and your partner reminders when bills are due, so you can avoid late fees and keep your finances on track.

Expense Splitting: If you and your partner split expenses, Honeydue makes it easy to keep track of who owes what.

Drawbacks:

Limited Features: Honeydue is great for couples, but it lacks some of the more comprehensive budgeting features that other apps offer.

No Desktop Version: Honeydue is a mobile-only app, which might be a drawback if you prefer to manage your finances on a computer.

7. Zeta: A Modern Approach to Family Finances

Zeta is another app designed specifically for couples and families. It offers tools for joint budgeting, expense tracking, and financial communication, making it easier to manage your money together.

Why Families Love Zeta:**

Joint and Personal Accounts: Zeta allows you to manage both joint and individual finances within the same app, making it easy to keep track of shared expenses while also maintaining some financial independence.

Financial Transparency: Zeta’s “Money Dates” feature encourages couples to regularly check in on their finances together, fostering open communication about money.

Goals and Net Worth Tracking: Zeta lets you set and track financial goals as a couple, whether it’s saving for a down payment on a house or building up an emergency fund. It also helps you monitor your overall net worth.

Bill Pay Reminders: Zeta keeps track of upcoming bills and sends you reminders, so you don’t miss a payment.

Drawbacks:

Limited Investment Tracking: While Zeta is great for budgeting and expense tracking, it’s not as robust when it comes to managing investments.

Mobile-First Design: Like Honeydue, Zeta is primarily designed for mobile use, so if you prefer to do your budgeting on a desktop, you might find the experience a bit limiting.

8. Tiller Money: The Power of Spreadsheets

If you’re a fan of spreadsheets and love having complete control over your budget, Tiller Money might be the perfect budgeting tool for your family. Tiller Money automatically imports your financial data into Google Sheets or Excel, giving you the flexibility to customize your budget however you like.

Why Families Love Tiller Money:

Fully Customizable: Tiller Money gives you the freedom to create a budget that fits your family’s unique needs. You can use pre-built templates or create your own from scratch.

Automatic Data Import: Tiller Money automatically pulls in your transactions from your bank accounts, credit cards, and other financial institutions, so you don’t have to manually enter your data.

Daily Updates: Tiller Money updates your spreadsheet daily, so you always have the most current information about your finances.

Privacy and Security: Since your data is stored in your own Google Drive or Excel account, Tiller Money offers a high level of privacy and security.

Drawbacks:

Steeper Learning Curve: Tiller Money is a powerful tool, but it does require some familiarity with spreadsheets. If you’re not comfortable with Excel or Google Sheets, you might find Tiller a bit intimidating at first.

Subscription Fee: Tiller Money costs $79 per year, which might be a bit steep for some families. However, if you love the flexibility of spreadsheets, it could be worth the investment.

9. Wally: Comprehensive Financial Insights

Wally is a budgeting app that offers a comprehensive view of your finances, including your income, expenses, and even your investments. It’s designed to help you stay on top of your budget while also giving you insights into your overall financial health.

Why Families Love Wally:

Multi-Currency Support: If your family deals with multiple currencies (perhaps due to international travel or investments), Wally makes it easy to manage your finances across different currencies.

Expense Tracking: Wally lets you track your expenses by category, giving you a clear picture of where your money is going each month.

Family Sharing: Wally allows you to share your budget and financial information with family members, making it easier to manage joint finances.

Investment Tracking: In addition to budgeting, Wally also offers tools to help you track your investments, so you can see how your portfolio is performing.

Drawbacks:

Limited Automation: Wally requires manual entry of some transactions, which can be time-consuming for busy families.

User Interface: While Wally offers a lot of features, some users find the interface a bit cluttered and less intuitive compared to other budgeting apps.

10. Spendee: A Visual Approach to Budgeting

If you’re a visual thinker, Spendee might be the budgeting app for you. Spendee’s colorful charts and graphs make it easy to see exactly where your money is going, helping you stay on top of your family’s finances at a glance.

Why Families Love Spendee:

Visual Budgeting: Spendee’s charts and graphs give you a clear visual representation of your budget, making it easier to understand your spending patterns.

Shared Wallets: Spendee lets you create shared wallets with family members, so you can collaborate on budgeting and track joint expenses.

Multiple Currencies: Spendee supports multiple currencies, which is useful if your family has international financial obligations or travels frequently.

Budgeting for Events: If you’re planning a big family event, like a vacation or a wedding, Spendee lets you set up a dedicated budget to keep track of your expenses.

Drawbacks:

Limited Free Version: The free version of Spendee is quite basic, so you’ll need to upgrade to the paid version (which starts at $2.99 per month) to access all the features.

Less Robust Than Competitors: While Spendee’s visual approach is appealing, it may not offer the same depth of features as some of the other budgeting apps on this list.

How to Choose the Best Budgeting App for Your Family

With so many great budgeting apps available, choosing the right one for your family can be a bit daunting. Here are a few tips to help you make the best choice:

Identify Your Family’s Needs: Before you start comparing apps, take some time to think about what your family needs in a budgeting tool. Do you want something simple and easy to use, or are you looking for more advanced features like investment tracking and goal setting?

Consider Your Budget: While some budgeting apps are free, others come with a subscription fee. Make sure to choose an app that fits within your budget—after all, the goal is to save money, not spend more of it!

Test Out a Few Options: Many budgeting apps offer free trials, so don’t be afraid to test out a few different options before committing. This will give you a better sense of which app feels most intuitive and user-friendly for your family.

Think About the Long Term: Consider how well the app will grow with your family’s needs. If you’re planning to buy a house, start a college fund, or retire in the next few years, you’ll want an app that can handle these bigger financial goals.

Involve the Whole Family: Budgeting works best when everyone in the family is on board. Choose an app that allows for easy sharing and collaboration, so everyone can stay involved in managing the family’s finances.

Conclusion: Making Family Budgeting Easier in 2024

Budgeting doesn’t have to be a chore—especially when you have the right tools at your disposal. Whether you’re a spreadsheet aficionado, a visual thinker, or someone who just wants a simple way to keep track of spending, there’s a budgeting app out there that’s perfect for your family.

By choosing the right app and making budgeting a regular part of your family’s routine, you’ll not only keep your finances in check, but you’ll also build healthy money habits that will benefit your family for years to come. So go ahead, give one of these apps a try, and take the first step towards a more organized, stress-free financial life in 2024. Happy budgeting!

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