Use the best family budget app to get your finances in order, plan future expenses, and budget wisely. Today apps like Mint, Spendee, or PocketGuard can teach your entire family to be more aware of the money. Some of these solutions are so advanced, they can be your personal finance advisors and help you grow your capital.
The trick is choosing which budget planner app of the many available is the best. I’ve tested quite a few of them myself and this is the top five solutions I’ve found. Each of them has its own pros and cons, which you’ll need to take into account. Don’t forget that there is no ‘one fits all’ type of home budget app. You should consider the personal intricacies of your family situation and pick the solution that works best for it.
Choosing the Best Family Budget App: Top 5
5. Wally
Wally is a great budget planner app for your family. It’s simple and available for both Android and iOS. One of its greatest advantages is security and lack of annoying ads. It’s also free, so anyone can start using it to get their finances in order.
The application has all the necessary features, such as expense tracking and receipt picture input. Wally is also very good in preventing you from overspending. With your GPS turned on, you will also be able to skip a step when making an entry as the app will update the place on its own.
However, if you are looking for something more than an efficient expense tracker app, you will need to find a different solution. Despite all advantages that Wally offers in the sphere of monitoring your spending, its functionality is limited to just that.
Wally Pros:
- Effective expense monitoring
- Ability to enter info by making a picture of the receipt
- Location identification feature
- Completely free
Wally Cons:
- Limited usability
- Lack of a PC version
- The interface is more complex compared to other apps
Website: http://wally.me.
Download Wally from iTunes or Google Play.
4. Spendee
Spendee is the best family budget app for you if you are looking for something intuitive and progressive. The solution develops rapidly with the newly launched Spendee 2.0 offering far more great features. It can be connected to your online banking solution, which will sync data on the changes happening at your account. The data is updated in real time.
Spendee has a feature of tying multiple wallets together, which makes it a great budget planner app for a family. It also has a simple and intuitive interface. Therefore, you shouldn’t have any trouble teaching your kids how to use it. The app can generate a variety of spending overview graphs and its expense tracker feature is highly efficient.
One of the special features you won’t find in many other money management apps is easy conversion to any currency. Spendee is a great solution for frequent travelers as it can update transactions in any or several currencies at a time.
Spendee is a ‘freemium’ app and all the best features are unlocked only if you get the paid version. As of April 2018, there are two offered packages:
- Plus: $1.99 a month
- Premium: $2.99 a month
Spendee Pros:
- Intuitive interface
- Robust money management features
- Multiple currencies support
- Real-time updates
- Synch with bank accounts
- Multiple shared wallets
Spendee Cons:
- Paid app
- Free version is only good as a personal expense tracker
Website: https://www.spendee.com.
Download Spendee from iTunes or Google Play.
3. You Need A Budget
I would have said that You Need A Budget (YNAB) is the best family budget app ever, and for many people this might be true. The application is fantastic in helping with money management, expense tracking, and budget planning. It’s also very good for planning out your saving accounts and helping you set and reach various financial goals.
A major advantage of this household budget app is the ease of making changes to the budget. Your entire financial plan is easy to adapt to any changes in your situation.
YNAB is an interesting app in its structure as it’s quite different from the rest of these solutions. It allows you to build a budget based on your actual income. Therefore, this money management app can keep track of every dollar you have and help you put it to good use. The app’s website also has some helpful info on the basics of budget planning.
The downside of YNAB is that it’s quite expensive compared to other similar solutions. It’s a very comprehensive budget planner app, but it will cost you $6.99 a month. There’s a 34-day long trial period for you to try out the solution.
You Need A Budget Pros:
- Comprehensive budget planning solution
- Synchronization with your bank account
- Goal tracking features
- Helpful information package
- Original approach to budgeting
You Need A Budget Cons:
- Expensive
- The app’s budget planning format isn’t for everyone
Website: https://www.youneedabudget.com.
Download You Need A Budget (YNAB) from iTunes or Google Play.
2. PocketGuard
PocketGuard deserves being called the best family budget app because it’s extremely simple. Most importantly, it makes complex finance planning that is budgeting seem easy by explaining every step.
This is a money management app that will keep track of the money in your pocket, your bills, and your bank account. It will update information live, so you always know where you stand financially. It also makes it easy to understand how much you can truly afford to spend.
PocketGuard is the best budget planner for your family if it’s your first time using these solutions. It will also work very well for those, who struggle to understand the workings of finances. It’s expense tracker feature and built-in analytics capabilities will help you analyze your spending and find the best ways to save money.
PocketGuard Pros:
- Simple to use
- Comprehensive family budget planner app
- Great for tracking cash spending
- Referral program for free PocketGuard Plus subscriptions
PocketGuard Cons:
- Best family budget tracking features are available only through paid subscription ($3.99 a month or $34.99 a year
Website: https://pocketguard.com.
Download PocketGuard from iTunes or Google Play.
1. Mint
The ultimate money management app for iOS and Android, Mint is a personal expense tracker, bill management solution, and credit score checker wrapped in one. This spending tracker and home budget app is extremely efficient and so easy to use, you don’t have to know anything about finances to do it. You literally only need to connect Mint to your accounts and follow the app’s suggestions and advice.
The security of Mint is one of the reasons why it’s the best family budget app. The solution uses the same safety protocols that banks do. You also get to benefit from frequent updates. Those do not only add more features to your app, they make it safer.
Mint also has multiple customization features, which means anyone can use it as an efficient budget planner. With its features updated regularly, Mint is the most progressive money management app available. The solution is also free.
Mint Pros:
- Multiple personal and family budget planning features
- Constant improvement
- Money saving tips and advice
- Real-time updates
- Bank account synch
- Free
Mint Cons:
I’ve yet to discover one.
Website: https://www.mint.com.
Download Mint from iTunes or Google Play.
Factors to Consider When Choosing the Best Family Budget App
When looking for a budget planner app for your family, the most important features are:
- Flexibility of customization (can you personalize your budget?)
- Security (is it safe to connect the app with your bank accounts?)
- Analytics (how will the app use data to help you save money?)
- Reports and alerts (how does the app keep you up-to-date?)
You should also look at various extra features that make these solutions stand out. For example, Wally might be a simple expense tracker app, but it uploads spending information by processing a simple receipt photo.
Write down a list of features your personal best family budgeting app should have and pick the one that matches it best. Research the solutions first so you know what they are actually capable of today.
Using a Money Management App for Your Family: Final Thoughts
There is no doubt that using the best family budget app, which is Mint in my opinion, will help you stay on top of your finances. These solutions help you effectively keep track of your bills, manage your funds, and build up your savings.
However, do not forget that you are the one making the decisions. An app can only do so much, so you can use it as an aide. Your family’s financial success depends on your ability to make wise business and monetary choices. I sincerely hope that other posts on my blog will help you make them and see your family prosper.
If you have any questions or want to share your own opinion on what the best family budget app is, please leave a comment!
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