If you’re among the loyalists who will need to find a new app—or you’re simply shopping for finance apps in general—here are some tips on choosing a budgeting tool that’s right for you.  

Prioritize Accordingly 

There are many financial apps designed to make money management stress-free, but regardless of what budgeting tool you choose, consider the following features:

1. Affordability

Before you commit to a paid subscription, take the time to research budgeting apps that are free or that offer a free trial period to find out whether the functionality is worth the spend. Some apps offer free versions with fewer features and the option to upgrade later if you want to unlock additional features. 

2. Security

Given the sensitive nature of financial information, security is essential when choosing a budgeting app. Ensure that the app employs enhanced security protections such as encryption, multi-factor authentication, and regular updates and notifications to protect your financial data from any unauthorized access. 

3. Methodology

One common methodology is the envelope system which divides the available spending money into separate envelopes representing your key spending categories. Another method, Zero-based budgeting, focuses on the needs of an upcoming period and justifies expenses around those needs.

Some apps use the envelope system, while others focus on zero-based budgeting. Unsure what the best approach might be? Opt for an app that offers flexibility, allowing you to experiment with different methods until you find the one that works best for you. 

4. Interface

User-friendly, intuitive design ensures you can navigate the app effortlessly, saving you time and frustration. Look for apps that allow you to quickly input transactions, set budgets, and track your spending without a steep learning curve. Some apps even offer interactive tutorials to guide you through the setup process. 

5. Goal Setting  

Before you commit to a paid subscription, take the time to research budgeting apps that are free or that offer a free trial period to find out whether the functionality is worth the spend. Many apps offer free features (like goal setting) with the option to upgrade later if you want to unlock additional features. 

Connect with PFCU

Choosing the right budgeting tool is a proactive step toward gaining control over your finances, but you don’t have to decide alone. Beyond our Online Banking and Mobile Banking platforms, PFCU offers free credit score monitoring, debt management calculators, and financial counseling. Pairing these resources with the right budgeting app can help you better understand your current budget and reach your financial goals.