As we approach the New Year, you may be considering the development of a budget for personal use or seeking a new tool to facilitate budget management for your startup or small business. Whether you’re contemplating a shift from your current budgeting app or transitioning from traditional spreadsheet methods, exploring budgeting apps could prove beneficial, saving time and effort. To assist you in finding the most suitable option, we’ve curated two lists of apps that we believe excel as budgeting tools for both individuals and startups.
Top Apps for Individuals:
1. Goodbudget
Goodbudget is an ideal choice for beginners venturing into budgeting. Utilizing the envelope system, it ensures you are prepared for bills and unexpected expenses. This app enables you to allocate funds for essentials like groceries and gas, allowing you to prioritize spending based on your preferences. Goodbudget supports shared households, offering both free and paid versions with additional features.
2. PocketGuard
If tracking spending is your primary goal, PocketGuard excels in showing your spendable money after accounting for bills and necessities. The app provides a visual representation of expenses through a pie chart and allows you to set spending limits. With both free and paid versions, PocketGuard links various financial accounts to offer a comprehensive overview.
3.Honeydue
Designed for couples managing finances together, Honeydue synchronizes bank accounts, facilitating shared expense tracking and communication. This free app is a suitable option for couples looking to collaborate on financial management, although it lacks a desktop version.
4. Empower
Empower is a versatile app for both budgeting and investing, consolidating all accounts, including bank, credit cards, and investments. While it offers features for day-to-day financial management and future planning, it might not be the most advanced option solely for budgeting.
Top Apps for Startups and Small Businesses:
1. FreshBooks
FreshBooks simplifies budget creation and adherence for startups and small businesses. Connecting to bank accounts, it offers tools for invoicing, time tracking, bookkeeping, and more. With collaboration features and integration capabilities, FreshBooks caters to businesses of varying sizes, with pricing starting at $30 per month.
2. QuickBooks
QuickBooks provides a comprehensive overview of business finances, tracking expenses, income, profitability, and taxes. With an easy-to-navigate dashboard, it aids in budgeting and streamlines accounting tasks. The service also offers tax preparation features and expert consultations, with pricing starting at $30 per month.
3. Toshl
Toshl, marketed as a personal budgeting app, offers a reasonably priced solution for startups. Its user-friendly interface facilitates budget creation and expense tracking. With customizable budget periods, it presents an effective option for those seeking cost-effective financial management. Toshl has both free and paid versions at $4.99 per month.
4. Xero
Tailored for businesses poised for growth, Xero includes a Budget Manager worksheet for overall budget creation across various categories. Offering tools for invoicing, expense tracking, and trend analysis, Xero aids decision-making. With features for inventory and project management, it provides a holistic solution starting at $15 per month.
Ultimately, the choice of the best app depends on individual or business needs, and the features offered by each app cater to a diverse range of preferences and requirements.
