Banking and Finance

Best Personal Finance Apps of 2020: Best Budgeting Apps

July 27, 2021

The coronavirus crisis is putting a strain on more than just the healthcare system. Unemployment claims have reached new heights, with over 16 million Americans filling for unemployment between March 15th and April 4th. As businesses continue to shut down, the economy is taking a harder hit than previously projected.

What does that mean for you? We’ve talked about the 2020 coronavirus stock market crash and the future of the markets. But, in terms of personal finance, things might look a little different over the next 12 to 18 months. You’ll first want to understand the effects of the stimulus package on the economy and how to get your stimulus check.

That’s the first step in kickstarting your finances during this crisis. Then, you’ll want to ensure you’re practicing great budgeting techniques. If you need a little help (because, don’t we all?) then here are 5 best budgeting apps of all times.

Best Personal Finance Budget Apps

1. Mint

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Where this app shines: It allows you to focus on spending less in certain categories while saving more in others.

Mint is perhaps one of the most popular and best budgeting apps of 2020. It syncs with your accounts to deliver comprehensive snapshots of your real-time budget and spending. And, it’s free! Truly, where this finance app shines is that it automatically updates and categorizes transactions, allowing users to get an up-to-date overview of their spending in real-time. From balances to bills and credit scores, Mint brings everything together in one place and provides users with a pretty easy-to-use interface that makes navigating your spending easy and, quite honestly, even somewhat fun at times.

2. Goodbudget

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Where this app shines: It allows you to allocate a percentage of your budget to spend in certain categories.

If you need financial help past just taking a look at your spending and credit score then check out Goodbuget. Unlike other best budgeting apps in 2020, it uses the envelope system to actually help users work towards their financial goals. Instead of investing in stocks or taking up real estate investing, invest in yourself with this app. You’ll be able to portion out your monthly income toward specific spending categories. So, that means that you won’t ever go over $200 monthly spending on entertainment, for example. It’s a great way to prevent overspending if that’s something you have trouble with.


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Where this app shines: It follows the zero-based budgeting system where you plan for every dollar that you earn.

If you truly have trouble budgeting then try following the zero-based budgeting system, which YNAB does. It forces you to justify and account for all of your expenses, which in turn forces you to be more deliberate about your spending. The software is great for those who are also looking for a desktop-based tool to use to control and track their finances. But, the only drawback is that it isn’t free. It requires a financial investment of either $84 a year or $11.99 a month, after a 34-day free trial. However, most users seem to think that the goal tracking and customer support are worth the small monthly fee.

4. PocketGuard

Pocket Guard
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Where this app shines: It’s a pretty simplified look at more complex budgeting systems, making it user-friendly and easy for basic budgeters.

If you’re not interested in budgeting tools, stock market jargon or even the ability to use an investment calculator to learn how to invest money then stick with something simple like PocketGuard. It’s incredibly easy to use and offers users a quick, simple snapshot of the basics. This includes how much money is available after accounting for bills, spending, and savings goal contributions. If you’re distracted or overwhelmed by all of the additional features of other budgeting apps for coronavirus savings, such as credit score, IRA contributions, and more, then stick with PocketGuard.

5. Clarity Money

Clarity Money
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Where this app shines: It’s one of the best for all-around, comprehensive budgeting; you can organize expenses and track spending easily.

Clarity Money is a great way to save extra cash while managing and tracking your spending in various different categories. It’s pretty similar to Mint in that regard as it follows basic budgeting guidelines (i.e. not the envelope system or zero-based budgeting). You can do things like linking your financial accounts in order to organize your monthly expenses, track spending, monitor your credit score and even manage monthly subscriptions. The last one is quite a nice feature if you’re interested in really cutting back on monthly expenses during the coronavirus crisis and subsequent recession.

Need Help Saving While You Spend?

You can download budgeting apps that will help you budget your money, save more and spend wisely. However, what about saving while you spend? Is that even possible? With the Cheese Debit Card, it is.

Our 100% free Cheese Debit Card can earn you a lot by cashback and saving bonus. Saving money doesn’t get easier than that, which means you’ll have lots of extra cash left over to work with when you’re in your budgeting app. Interested in learning more? Sign up today.

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Best Personal Finance Apps of 2020: Best Budgeting Apps