As we usher into a new year, the prospect of managing finances efficiently becomes a priority for many. Whether you are an individual seeking to adhere to a monthly budget or a startup looking for a robust tool to streamline financial processes, selecting the right budgeting app is crucial and a step in the right direction.
This is a list of top-tier apps tailored for both individuals and small businesses, delving into a bit of their features, usability, and pricing structures. We will first start with personal/individual best apps and then we look into some of the best budgeting and financing apps for startups and small businesses.
Best Apps for Individuals
1. Empower
Empower is a comprehensive tool designed for individuals seeking both budgeting and investment management. Consolidating all financial accounts into one platform, including bank, credit cards, and investments, Empower offers a holistic overview of financial health.
With the free version, you can do the following:
- Track spending by seeing where their money goes
- Set saving goals to keep their spending in check
- Stay on budget to ensure they’re closer to meeting their goals
This will allow you to organize your spending and savings automatically by date, category, or merchant. When you set a monthly spending target, you can now easily see if you’re tracking is over or under your plan.
While the service is free to use, individuals primarily focused on budgeting might find other apps on the list more tailored to their specific needs.
2. Honeydue
Catering specifically to couples managing finances jointly, Honeydue synchronizes partners’ bank accounts, facilitating collaborative expense tracking and communication about shared financial responsibilities.
The app is free to use and is available on the App Store and Google Play, making it an appealing option for couples without the need for a monthly subscription. However, it lacks a desktop version, potentially limiting its appeal to those who prefer larger screens for financial management.
3. Goodbudget
Goodbudget is an excellent choice for individuals, particularly those new to budgeting, and it’s based on the envelope budget system. Available on the Web, the app ensures meticulous allocation of funds for essentials, preventing unforeseen financial challenges. The budget software built for daily life use is also available on the App Store and Google Play.
Its standout feature is the ability to facilitate shared budgeting for households. The app offers both a free version, which covers basic budget management, and a paid version priced at $8 per month.
With Goodbudget, it replaces your family budget planner, worksheet, or spreadsheet with software that syncs. It provides you with enhanced capabilities such as email support, unlimited envelopes, and expanded device usage.
4. PocketGuard
For individuals focused on tracking spending, PocketGuard offers a sophisticated solution. The app provides a transparent overview of spendable income after factoring in bills and necessities, aided by visual representations like pie charts. While the free version gives you access to essential features, the $8 monthly paid version unlocks advanced functionalities, including customized spending categories and debt payoff planning. You can download the app on the App Store and Google Play.
One downside is that this tool is not available in many regions outside the United States. When you try, you get the response, “Oops… We hate to bring bad news, but PocketGuard is not available in your region. If you think this is a mistake feel free to contact us at [email protected]” Which makes sense since it’s a budgeting app that is meant to work and calculates in USD.
But to have a feel of how it works, you might want to use a working VPN to change your location. But this does not guarantee that it will work 100% as it should. But at least you will be able to see the features the Pocketguard has to offer.
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Best Apps for Startups and Small Businesses
1. FreshBooks
FreshBooks emerges as a versatile tool catering to startups and small businesses. Connecting seamlessly to bank accounts and credit cards, the app tracks expenses and offers an array of features for Invoicing, Accounting, Payments, Expenses, Time Tracking, Projects, and Reporting and is available on Mobile devices. And if you drive a lot for your business, you might find the Mileage Tracker useful.
With pricing starting at $4.25 per month, FreshBooks accommodates businesses of all sizes, fostering teamwork among employees, freelancers, clients, and contractors. You can try FreshBooks free for 30 Days with no credit card required and can cancel it at any time.
2. QuickBooks
QuickBooks simplifies financial management and provides a comprehensive overview covering a business’s expenses, income, profitability, taxes, and more. The user-friendly dashboard facilitates an easy understanding of financial health.
Priced starting at $1 per month, QuickBooks also offers tax preparation features and expert consultations, making it a holistic solution for small businesses. Right now and as of the time this list was compiled, you can signup, start fresh and get a cool deal of $1/month for the next 3 months.
3. Toshl
Marketed as a personal budgeting app, Toshl is a cost-effective option for startups seeking simplicity and effectiveness. With a user-friendly interface facilitating budget creation and expense tracking, the paid version, priced at $2.99 and $4.99 per month for the Toshl pro and Toshl Medici respecitvely, strikes a balance between affordability and functionality.
Still not sure which one to choose, you can try Toshl Pro or Medici for 30 days without charge. Although you will be asked you for your payment infomation, you won’t be charged until the trial expires—which means you can cancel at any time.
4. Xero
Designed for businesses with great ambisitions and growth in mind, Xero provides budgeting and financial tools, including a Budget Manager worksheet and features for short-term cash flow analysis.
Beyond budgeting, Xero offers invoicing, bill payment, analytics, bank connections, bank reconciliation, inventory management, accept payments, and many more. With three paid tiers starting at $29 per month, Xero stands out as a comprehensive solution for small businesses.
If you want some tools powered with AI, check out this top Google AI tools that can help you boost your productivity at home and work.
