Tracking your spending is often the first step in getting your finances in order. By understanding what you spend money on and how much you spend, you can see exactly where your cash is going and areas where you can cut back.
It’s easy to make this part of your everyday routine thanks to expense tracker apps that help you manage your money on the go. These apps certainly overlap with budgeting apps, but while the latter provide a big-picture view of your finances, expense tracker apps put more of an emphasis on your spending. These apps usually categorize your expenses and help you get a good idea of your purchasing behavior.
Whether you want an expense tracker app that easily captures all your transaction data, one that automates the expense reporting process at your job or one that holds you accountable by requiring you to manually input each one of your transactions, there’s an app out there for you.
To determine which expense tracker apps are the best overall, Select reviewed and compared over a dozen apps, looking at their pricing and features. To rank the top five, we only considered apps that focus on expenses, come with low (or no) cost to sign up, are easy to use and can be accessed on multiple devices. We favored those that have a considerable number of user reviews and high ratings.
“wp-image-114496 size-full” title=”best expense tracker apps” src=”https://www.tipsclear.com/wp-content/uploads/2021/07/best-expense-tracker-apps.jpg” alt=”best expense tracker apps” width=”626″ height=”417″ /> best expense tracker appsThe five apps we selected for this ranking are either free, offer a free version or have a free trial for users to test out before signing up. They have tens of thousands of reviews in the App Store (for iOS) and on Google Play (for Android) combined, as well as a rating of 4 stars (out of 5) or higher on both platforms.
Below, Select reviews the top five expense tracker apps. (See our methodology for more information on how we choose the best expense tracker apps.)
Best overall free app
Mint
Information about Mint has been collected independently by CNBC and has not been reviewed or provided by Mint prior to publication.
Cost
Standout features
Shows income, expenses, savings goals, credit score, investments, net worth
Categorizes your expenses
Yes, but users can modify
Links to accounts
Yes, bank and credit cards
Availability
Offered in both the App Store (for iOS) and on Google Play (for Android)
Security features
Verisign scanning, multi-factor authentication and Touch ID mobile access
Pros
- Free to use
- Syncs to your bank accounts and credit cards
- Users can create savings goals, track investments
- Customized alerts when over budget, for large transactions, ATM fees, etc.
- Bill payment reminders
- Credit monitoring service
- Offers blog and education tools, such as a loan repayment calculator
- Security features include Verisign scanning, multi-factor authentication and Touch ID mobile access
Cons
- Some user reviews complain of ads, glitches in app, expenses assigned to wrong category
Best app for beginners
Goodbudget
Information about Goodbudget has been collected independently by CNBC and has not been reviewed or provided by Goodbudget prior to publication.
Cost
Get 20 envelopes for free; for unlimited envelopes, you need to upgrade to Goodbudget Plus, which is $7 per month or $60 per year
Standout features
Allows users to plan their household’s spending using the “envelope method,” where they allocate a certain amount of their income into categories like groceries, rent and debt payoff. Users are only supposed spend what’s in their envelopes and if they go beyond their budget the envelope will show red to indicate that they overspent
Categorizes your expenses
Yes, but users can customize
Links to accounts
No, users manually create “envelopes” and input their transactions
Availability
Has a web-based version, and also offered in both the App Store (for iOS) and on Google Play (for Android)
Security features
256-bit bank grade encryption in a secure data center
Pros
- Free to use for creating 20 envelopes, one account user on up to two devices, one year of transaction history, debt tracking and community support
- Envelope feature allows user to visualize their spending and prioritize meeting different goals
- Users can customize the envelope categories according to their needs, such as saving for an emergency fund or a vacation
- Requiring manual entry of data helps users to really analyze their spending habits versus it being automated (users can also download their recent activity from their bank’s website and import that into Goodbudget)
- App provides real-time updates of how your transactions impact your budget and personalized reports
- App offers educational res like a blog, a podcast and online courses people can take
- App plans to launch a pandemic-inspired feature allowing people to prioritize “envelopes” based on their most urgent expenses, such as housing, utility bills, etc.
- Security features include 256-bit bank grade encryption in a secure data center
Cons
- Costs $7 per month or $60 per year for unlimited envelopes with Goodbudget Plus, unlimited account users on up to five devices, seven years of transaction history, debt tracking and email support
- Doesn’t sync to your bank accounts or credit cards, which can be a downside for people who want automation
- Requires that users use the “envelope method” to track their spending
- Some user reviews report experiencing technical issues with the app
Best app for serious budgeters
You Need a Budget (YNAB)
Information about You Need a Budget (YNAB) has been collected independently by CNBC and has not been reviewed or provided by YNAB prior to publication.
Cost
34-day free trial then $84 per year or $11.99 per month (students who provide proof of enrollment get 12 months free)
Standout features
Instead of using traditional budgeting buckets, users allocate every dollar they earn to something (known as the “zero-based budgeting system” where no dollar is unaccounted for). Every dollar is assigned a “job,” whether it’s to go toward bills, savings, investments, etc.
Categorizes your expenses
Links to accounts
Yes, bank and credit cards
Availability
Offered in both the App Store (for iOS) and on Google Play (for Android)
Security features
Encrypted data, accredited data centers, third-party audits and more
Pros
- Offers a 34-day free trial, and students get 12 months free
- Designed to help you get out of debt
- YNAB website claims average user saves $600 in their first two months and more than $6,000 in their first year
- Syncs to your bank accounts and credit cards
- Users can set goals, customize spending categories
- Offers educational res, such as budgeting advice and 100+ free workshops offered every week
- Personal customer support
- Security features include encrypted data, accredited data centers, third-party audits and more
Cons
- Costs $84 per year or $11.99 per month
- Customer reviews note that it takes longer to set up than other apps
Best app for small business owners
QuickBooks Online
Cost
30-day free trial then plan options include: Simple Start for $12.50 per month, Essentials for $20 per month, Plus for $35 per month and Advanced for $75 per month
Standout features
Tracks your business expenses as they happen, as well as your income. Users can use app to do invoicing, accept payments, manage their cash flow, maximize tax deductions, track travel miles, run reports, send estimates, manage bills and 1099 contractors, plus pay employees
Categorizes your expenses
Links to accounts
Yes, bank and credit cards, plus third-party apps like PayPal and Square
Availability
Accessible from any web browser and also offered in both the App Store (for iOS) and on Google Play (for Android)
Security features
Verisign scanning, password-protected login, firewall protected servers and the same encryption technology (128 bit SSL) used by the world’s top banks. QuickBooks also offers multiple permission levels that you can set for additional users’ access
Pros
- Offers a 30-day free trial
- Syncs to your bank accounts, credit cards and third-party apps like PayPal and Square
- Offers real-time dashboards so you can stay updated on all financial transactions related to your business
- The most basic “Simple Start” plan tracks income, sales and expenses, organizes receipts, creates invoices, helps you prepare your taxes, categorizes your business and personal trips, offers a QuickBooks Cash account, runs reports like P&Ls and balance sheets and includes 1 user
- “Essentials” plan, in addition to the above, helps you pay your bills, clock employee time and billable hours and includes up to 3 users
- “Plus” plan, in addition to the above, lets you oversees projects, track inventory and includes up to 5 users
- “Advanced” plan, in addition to the above, provides business analytics and insights, speeds up transactions, gives users access to VIP service QuickBooks Priority Circle that includes a dedicated account team and free online QuickBooks training, includes up to 25 users
- QuickBooks offers a fourth “Self-Employed” plan for freelancers at a low $7.50 per month
- All QuickBooks users get fast, customized setup of their QuickBooks with a certified bookkeeper for an additional $50 one-time live virtual session
- Full-service payroll plans start at $22.50 per month
- Security features include Verisign scanning, encryption technology (128 bit SSL) used by the world’s top banks and customized access for other users
Cons
- Costs range from $12.50 per month to $75 per month, depending on the plan
- Some user reviews complain of glitches in app and a not so user-friendly interface