The Best Budgeting Apps For 2020

If you're out to save money or to pay off a loan, a budget is one of the best ways you can help yourself. But sticking to the budget can be another ordeal entirely – especially when small temptation purchases build up between pay cheques.

The solution? Budgeting apps. These handy tools are on-hand 24/7 to help you keep on top of your budget and prevent over-spending. But of course, some are better than others. So, what is the best budget app, and which ones do we recommend above others?

Free Budgeting Apps

Although they're free, these are still some of the best budget apps in Australia, being packed full of features to help your manage your money like a pro.

Pocketbook

Available on: Apple App Store and Google Play Store.

Pocketbook is the cream of the crop when it comes to free budgeting apps. Like many of its competitors, it's packed with handy features, but where the app outshines others is with its use of automatic syncing. When you create a Pocketbook account, you'll be asked to link it to your bank accounts (don't worry – everything is secure and encrypted). Once everything is set up, Pocketbook automatically organises your expenses into categories, such as food and drink and rent, so you don't need to define these categories for yourself. In fact, 80% of transaction types are already categorised within the app, so it does most of the work for you.

Pocketbook will give you real-time feedback into your spending, providing you with a full breakdown in order to assist you with keeping to budget. We think it's earned the title of one of the best budget apps out there.

Spendee

Available on: Apple App Store and Google Play Store.

Spendee is all about getting your money into shape. Like Pocketbook, it syncs to your bank account to better track your spending, and from there Spendee's features just get better. This innovative app will help you control your cash flow, analyse your financial habits, and can even handle different currencies.

Another interesting feature of Spendee is its ability to make use of shared wallets. This is great for couples, families and roommates with shared finances, so you can keep on top of your spending from every outlet.

Spendee is indeed free, but the premium and plus upgrades come with yearly fees. We still think even the free option is among the best budget apps available.

ClearScore

Available on: Apple App Store and Google Play Store.

While ClearScore isn't a budgeting app per se, it can assist you in improving your credit score and getting out of debt.

By downloading and signing up to ClearScore, you can easily access your credit score (also known as a credit rating) – a number which determines how responsible you are with money, which many banks and lenders use to decide whether or not they'll allow you to take out a loan. If your credit score is too low, it's an indicator of a negative financial history.

ClearScore allows you to track your credit score and will also give you insights into how it can be improved, such as paying off debts and not missing any repayments.

Wisr

Available on: Apple App Store and Google Play Store.

Wisr is here to help you automatically pay down your debt whenever you spend. What does that mean? Essentially, Wisr lets you add up all your spare change to help you pay off your debts quicker.

Once it's set up, Wisr gets to work tracking your daily transactions and rounds them up to the nearest dollar. The total round-up is then withdrawn weekly and used to pay off your debt. It's a smart way to chip away at money owing and works with personal targets you've set for yourself to make sure you reach them sooner.

Paid Budgeting Apps

While you may have to pay for these apps, they'll by no means break the bank.

Pennies

Cost: $5.99

Available on: Apple App Store only.

For the cost of a large coffee or a slice of cake, you can purchase Pennies from the Apple App Store and unlock a very user-friendly way to track your money. Made to be visually appealing, easy to understand and simple to navigate, Pennies allows you to add expenses and flexible budgets in a flash, set daily targets, and even keep a track of your money right on your wrist with your Apple Watch.

One of the best features of Pennies is its budget flexibility. After all, not everyone budgets for a month – individuals who are paid weekly will often find it easier to create a weekly budget. Pennies works with you in this, so no matter how much you spend and earn, this app has you covered, making it one of the best budget apps for savers.

HomeBudget

Cost: $7.99

Available on: Apple App Store and Google Play Store. Also available for Windows computers, HomeBudget is a household budgeting app that comprehensively breaks down spending and can be used by everybody in the home. HomeBudget allows you to track just about anything you want, and it feeds data back to you in the form of easy-to-understand graphs. It's a robust tool and has the advantage of syncing across all devices, so you can access your budget wherever you are.

My Weekly Budget

Cost: $1.49

Available on: Apple App Store and Google Play Store. The aim of My Weekly Budget is to be a simple yet powerful tool in helping you save. For those who want to budget weekly rather than monthly, My Weekly Budget focuses on a week-by-week system to help you save money over time, and it rounds up a report at the end of each week to let you know how well (or not!) you're sticking to your budget.

Bills Monitor Pro

Cost: $1.49

Available on: Apple App Store and Google Play Store. Do bills constantly sneak up on you? Bills Monitor Pro is here to save you! This fully featured app allows you to track your bills using a calendar view, which makes it easy to add and track bills by category, amount, due date, recurring (or not), pay account and more. You can of course set reminders, so you won't miss another bill.

While there's not a lot to Bills Monitor Pro, it's incredibly handy to have all the same.

As you can see, whether it's free or costs a pocketful of change, a budgeting app can make a world of difference to your cash flow and savings habits. Be sure to download one of these best budget apps in Australia, and get on top of your money today.