Best Personal Finance Apps [2024] Personal Finance Apps for Beginners

Keeping your finances organized is a big challenge for anyone, especially when you’re juggling so many monthly expenses. In early 2024, about a quarter of American consumers viewed their own financial situation as negative or very negative. 

Fortunately budgeting is a powerful tool that can help you get and stay on track financially, and using a personal finance app can help you do that. 

No matter where you are on your financial journey, finding the right personal finance app can greatly simplify your path forward. We’ve rounded up some of the best personal finance apps to help you. 

What is a Personal Finance App? 

A personal finance app is a digital tool that helps you keep your money organized. With a personal finance app, you can track your income and spending, plan for upcoming expenses, and find ways to save money. 

The best personal finance apps are accessible right from your smartphone, so you can keep track of your spending on the go. Many of these apps also offer tutorials and other educational resources, which can be particularly helpful if you’re new to budgeting and managing your personal finances. 

How Can a Personal Finance App Help Me? 

Personal finance apps can help you take control of your money and achieve your financial goals. These apps help you keep your financial transactions organized, so you know exactly how much money you have, how much money you’re spending, and how much you can afford to spend without jeopardizing your goals. 

With this information at your fingertips, you can make smarter, more informed financial decisions. In addition to managing your day-to-day finances, you’ll learn how to budget for non-recurring expenses and avoid financial emergencies. 

One of the biggest benefits of using a personal finance app is the convenience. With these apps, you have access to all your financial data on your smartphone so you can check this information on the go. For example, if you’re out and about and considering making a purchase, you can quickly check the app to ensure it fits into your budget. 

Additionally, personal finance apps provide helpful financial analytics tools and insights into your financial habits. With this data, you can identify more opportunities to save money, avoid debt, and hit important financial milestones more quickly. 

You can also use these apps in conjunction with a financial advisor to help you grow your wealth even further. Read our “What Is A Financial Advisor?” guide to learn more. 

Best Personal Finance Apps for Beginners

There are plenty of excellent personal finance apps for beginners out there. When you’re first getting started, you’ll want to consider multiple options to see what makes the most sense for your financial habits and preferences. 

We’ve rounded up some of the best personal finance apps on the market to help you make your decision. We’ve evaluated some key features such as budgeting tools, automated expense tracking, financial reports, and more. Here are some of the personal finance apps we recommend, especially if you’re just getting started. 

Rocket Money

Fees: Free basic version, $6-$12 per month for a premium membership

Customer Service: Live chat or email, 9AM to 8PM EST

Average Ratings

• Trustpilot: 4.4/5
• Apple App Store: 4.3/5
• Google Play: 4.7/5

Rocket Money is one of our favorite personal finance apps for beginners. With an intuitive interface and plenty of handy savings features, this app makes it easy to work toward your financial goals. 

In the app’s dashboard, you’ll see a clean, organized breakdown of your current account balances as well as upcoming income and expenses. You can also create a detailed budget and track your progress toward important financial goals. 

One of the things we love about Rocket Money is its selection of automated features. The app will automatically identify subscriptions you may not be using, save money for you, and provide real-time spending insights. The app can even help you negotiate your bills to avoid overspending. Check out our Rocket Money review to learn more. 

Pros

• Easy to use: Rocket Money has a clean, straightforward layout that’s very easy to use, even if you aren’t particularly tech-savvy. 
• Real-time monitoring: Rocket Money keeps tracking of expenses in real time and will send you notifications to keep you on track. 
• Find unwanted subscriptions: Unnecessary subscriptions can really eat into your budget, so Rocket Money helps you find them so you can cancel them. The paid version even offers a concierge service that can cancel them for you.  
• Free version: While Rocket Money does have premium plans, the free version makes it easy to get started. 

Cons

• Advanced features cost money: If you want to access Rocket Money’s more advanced features, you’ll need a premium membership, which comes with monthly fees. 
• Limited investment features: While you can view your investment accounts in the Rocket Money app, there aren’t any tools to help you improve your investment strategy. 

Simplifi

Fees: $5.99/month for all users

Customer Service: Phone, email, or live chat. Phone support available Monday-Friday, 5 a.m. to 5 p.m. PST

Average Ratings

• Trustpilot: 3.3/5
• Apple App Store: 4.2/5
• Google Play Store: 4.1/5

Simplifi is a personal finance app made by Quicken. It’s available both online and through a mobile app and offers plenty of features to help you budget. 

This app integrates with your bank accounts, credit cards, and other financial products to keep track of your transactions automatically. The dashboard keeps all your financial information in one place, with graphs and charts to highlight trends in your activity. 

While Simplifi offers robust budgeting features, it’s also very accessible for financial newbies. Its simple, accessible layout makes it easy to find the information you’re looking for. Read our Rocket Money vs. Simplifi comparison to see how this app stacks up against other top budgeting choices. 

Pros

• Custom budgets: With this app, you can build a custom Spending Plan based on your income, recurring expenses, and financial goals. You can also categorize transactions as they come in to keep them organized. 
• Real-time notifications: Simplifi will notify you when you have an upcoming bill due or when you’re about to exceed your spending limits, which can help you avoid accidentally overspending. 
• Detailed dashboard: Simplifi offers a beautiful dashboard with all the financial information you need in one place. You can access it easily via smartphone or computer for convenience. 

Cons

• No free version: There’s no free version of Simplifi available, so it may not be the best option for users on a tight budget. 
• Limited debt and investment features: If you’re working to pay down debt or want to keep track of your investment strategy, Simplifi doesn’t offer tools to help with this. 

YNAB

Fees: Free 34-day trial, then $9.08-$14.99/month

Customer Service: Email or live chat within the app

Average Ratings

• Trustpilot: 4.7/5
• Apple App Store: 4.8/5
• Google Play Store: 4.8/5

YNAB is a detailed budgeting app designed to teach sustainable financial habits. It functions as a digital version of the cash envelope budgeting system in which you assign each of your dollars a job. For example, you’ll assign your income to cash envelope categories like rent, utilities, groceries, and more. Then, you’ll track your spending throughout the month to stay on track. 

Using YNAB requires more dedication than some of the other budgeting apps on this list. But if you need a highly structured approach that will keep you organized, YNAB could be a great option. Check out our Rocket Money vs. YNAB comparison to learn more. 

Pros

• Detailed budget breakdown: This is one of the best personal finance apps for structured budgeting. You’ll know exactly what every dollar is doing. 
• Set and track goals: If you want to save for a down payment or vacation, you can easily track your progress toward these goals in the app. 
• Account sharing: If you want to budget with family or friends, you can share your account with up to 6 people. 

Cons

• No automated savings or bill pay: YNAB doesn’t automate your finances — you’ll still need to handle them on your own. 
• Steep monthly fees: While YNAB currently offers a free 34-day trial, you’ll need to spend money if you want to keep using it after that. 
• No phone or live chat support: YNAB’s customer service offerings are limited to email and in-app messaging, and the company says they’ll usually respond within a day, Monday through Friday. 

Copilot Money

Fees: $13/month

Customer Service: Email

Average Ratings

• Apple App Store: 3.5/5

Copilot is a relatively new budgeting app designed to help you track and organize your spending all in one place. The app uses AI to automatically categorize each transaction and help you keep things organized. 

The Copilot app has a modern, eye-catching interface that helps you visualize your budget. It’s a relatively new app, so not all features have been released yet. Copilot plans to introduce more machine learning functionality in the near future to provide AI-generated financial insights. Check out our Rocket Money vs. Copilot comparison to learn more. 

Pros

• Detailed budgeting: You can track and categorize every expense as it comes in and use analytics to create a budget that works for you. 
• Bold interface: Copilot has an appealing high-contrast design. 
• Investment integration: Copilot integrates with your investment accounts to track your portfolio growth. 

Cons

• Only available for Apple devices: Right now, Copilot is only available for Mac and iPhone. 
• No free trial: Copilot’s monthly fees are pricey, and there’s no free trial to help you get started. 
• Limited customer service: Customer service is currently only available via email. 

Goodbudget

Fees: $10/month or $80/year for premium version

Customer Service: Email

Average Ratings

• Trustpilot: 3.7/5
• Apple App Store: 4.6/5
• Google Play Store: 3.9/5

Goodbudget is another simple but powerful personal finance app based on the cash envelope budgeting system. With Goodbudget, you can create digital envelopes to prevent overspending. The app also helps you pay off debt and work toward financial goals. You can share your Goodbudget with others in your household, which helps increase financial transparency for everyone. 

Pros

• Simple envelope budgeting system: Goodbudget uses a straightforward but effective approach to help you save, making it one of the best personal finance apps for beginners.
• Sync with others: If you share a budget with family members, you can sync your accounts to stay on the same page. 
• Free version: Goodbudget has a robust free version, making it an ideal choice for those who don’t want to spend much. 

Cons

• No automatic sync: You’ll need to manually enter your transactions in the app, which can be inconvenient for some users. 
• No investing options: If you invest regularly, there’s no easy way to track your progress. 

Commonly Asked Questions About Best Personal Finance Apps

How to Choose a Personal Finance App?

When selecting a personal finance app, the first thing to consider is your financial goals and the features you need to achieve them. Are you looking to reach a big savings goal, cut back on debt, or invest more? Look for apps with features that align directly with these goals. 

Other key features to look for include an intuitive user interface, accessible customer service, and minimal monthly fees. The best personal finance apps are convenient and easy to use on the go. 

What Are the Best Personal Finance Apps for Beginners?

If you’re new to budgeting, don’t worry — there are plenty of fantastic personal finance apps for beginners to choose from. Some of our favorites include:

• Rocket Money (Read our Rocket Money review)
• YNAB (Read our Rocket Money vs YNAB comparison)
• Copilot (Read our Rocket Money vs Copilot comparison)
• Simplifi (Read our Rocket Money vs Simplifi comparison)
• Goodbudget

Each of these apps makes financial planning easy, with plenty of tutorials, charts, and other features to help familiarize you with the process. 

Do I Need a Personal Finance App If I Have Little Money? 

Even if you don’t have much money, you can still benefit from using a personal finance app. These apps can help you organize the money you do have to prevent you from overspending. They can also provide recommendations to help keep you out of debt. If you’re on a tight budget, look for a personal finance app that’s free to use or has a very affordable subscription option.