Best Budgeting Apps for Millennials | Infowatch Daily
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Best Budgeting Apps for Millennials

Best Budgeting Apps for Millennials

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Budgeting is tough. Especially if you are a millennial trying your hand at budgeting for the first time. But, with the right budgeting apps, you can track your expenses closely and stay on top of your budget. There are several apps that you can download and start using. But if you are unsure where to begin or are looking for some assistance to get started, we’ve got you!

Using a few common criteria such as ease, travel expenses, whether you share expenses, whether you’re self-employed, etc., we have enlisted the best budgeting apps you must try for your benefit. Let’s look at them below.

Best Budgeting Apps that Millennials Must Try

Our list includes free apps, ones to track your expenses and help you budget, apps for beginners, and more. Choose what fits you best and start budgeting like a pro.

1. Quickbooks Self Employed

Are you a self-employed person struggling to keep up with the endless expenditures? Or, are you running a side hustle and wish to save enough to expand it? Quickbooks Self Employed is a great budgeting app for you. You can track your income, expenses, and even car mileage if you have to travel often. This app syncs with your bank and credit card account to pull in expenses, and lets you keep a tab on business expenses and personal expenses. Other features include the ability to track your mileage (useful for tax purposes) and create invoices.

2. Goodbudget

This app claims to be the “budget tracker for the modern age.” So, if you’re new to tracking your spending, Goodbudget has got your back. If you’ve seen elderly members in your family use paper envelopes to put cash and labeled them under different categories, you’re going to do something similar. But virtually. The members of this budgeting app get 20 “envelopes” for free where they can implement the time-tested envelope budgeting. To access more envelopes, you can upgrade to Goodbudget Plus.

3. Splitwise

Are you habituated to splitting expenses with your friends or roommates? Do you lose track often of how much you need to pay each other? Splitwise can be of some help to you. This budgeting app helps you track who owes what. You can use this for splitting expenses if you’ve been on a trip, your daily expenses calculated on a monthly basis, and more. It’s a great choice for those who need to track shared expenses and keep everyone accountable. The best part is, that this app simplifies the expenses and makes it easier for you to understand and pay the right amount. The premium version includes receipt scanning, currency conversion, and expense search.

4. Stash

If you want to try your hand at investment and buy fractional shares, Stash is a great budgeting app to use. You can get help in selecting investments, analyzing your portfolio, and earning stocks from your spending. When you download the app, it asks you questions to assess your goals and risk tolerance. And based on your inputs, it offers a list of stocks that might be a good fit for you. Stash offers fractional investing, which means you can buy portions of stocks/funds.

5. YNAB – You Need a Budget

This is a great budgeting app that helps you budget based on your income. It also aids you in finance sharing and includes hundreds of online workshops that you can attend and learn. If you are looking for ways of paying off debts faster, YNAB offers tons of videos, podcasts, and workshops. The app connects all your accounts in one place and helps you create and analyze your budget. You also get a realistic picture of how much debt you can pay off monthly after your regular expenses.

Subhadra

V Subhadra is a Content Writer with 5+ years of experience across B2B and B2C platforms and has worked on long-form and short-form content across several domains. She comes from a Literature background and specializes in writing blogs, articles, case studies, sales mailers, and social media content. She resides in Bangalore.

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