5 Best Family Budgeting Apps for 2024 [Save More, Stress Less]

Efficient financial management for your family is a challenging task. Especially if you have multiple income sources and a large family with varying expenses, managing everything might get confusing. While you try to pay for groceries, school fees, health insurance, and other requirements, you may lose track of your money, which leads to poor financial health.

Before you get all stressed about it, we have good news for you! Technology has made things simpler these days, and we are here to guide you on how family budgeting apps help you streamline your money in the most fruitful manner. 

Using these apps, you can track your expenses, set goals, and learn to use your funds in a disciplined way. If your choice of app is right, you will never have to struggle to meet your financial goals.

In this article, we will learn about 5 best family budgeting apps, their key features, pros, cons, costs, and ratings to make your financial management simpler and stress-free.

Key Features to Look for in a Family Budgeting Apps 

As there are multiple family budgeting apps available in the market, selecting the best is a daunting task. You have to keep a few crucial factors under consideration to filter your list of preferred apps and pick the one that best suits your requirements. Some of the key features you should look for are: 

• Always look for apps that let you do customizations in categories according to your expenses. For example, you should be able to add areas where you spend your money, be it groceries, tuition fees, or entertainment. 
• The second most significant factor is the user-friendly app interface. If only you are familiar with the app, you can use it in a way that leverages all its benefits. 
• If you have a large family, look for the app with multi-device synchronization. This way, all your family members can use it in real-time and update their expenses over it.
• All the information you are going to put on this app is confidential. So, make sure you pick the app with advanced security features. It is better to pick an app that uses two-factor authentication. 

The best way to select the best family budgeting app is to explore as many as available apps, check their features, and choose the one that you are comfortable and satisfied with.

5 Best Family Budgeting Apps in 2024

To help you make a fruitful selection, we have done all the research on your behalf and listed 5 best budgeting apps for your family. You can explore these and use them to manage your finances well.  

Quicken Simplifi

Pros

• Most of the App Features are open to customization.
• There are no Ads. 
• It allows you to track all your financial accounts in one app.

Cons

• Lacks real-time customer support
• You have to pay the fees

Reason to Choose

Families should choose this app as it lets you sync all your financial accounts on the dashboard, making the management quite simpler. Moreover, you can set particular goals and get reminders when you are nearing the target. 

Cost: You have to pay $3.99 per month. 

Ratings: 4.2 stars 

Rocket Money

Pros

• It makes you aware of the subscriptions you don’t use anymore; helping you cut the unwanted expenses.
• The app uses the best security measures to keep your data safe.
• Premium membership offers a negotiation feature. Under this, the app negotiates your bills on your behalf. 

Cons

• Some of the features are only available in premium membership plans. 
• You have to make manual adjustments for synchronized spending.

Reason to Choose

The app efficiently segregates your transactions into different spending categories for better financial management. Additionally, you get notifications about your upcoming bill payments or when your account balance is running low. 

Cost: The price can fall between $4 and $12. 

Ratings: 4.4 stars 

EveryDollar

Pros

• It lets you create a tailor-made budget, as per your income, and set relevant saving goals.
• The premium membership offers bank connectivity, smart tracking, and paycheque planning. 
• It has an attractive yet easy-to-understand interface that you can use without any help. 

Cons

• Though the mobile and desktop versions of this app are available, customization is only possible through computers. 
• The fully automated version is only available in the premium membership plan. 

Reason to Choose

The app is good for zero-based budget planning, and you can do so through its free mobile app. If you are new to the idea of family budgeting, this app is an appropriate choice because of its simple interface. 

Cost: You can get a 14-day free trial. After that, it will cost you $17.99 per month. 

Ratings: 3.6 stars

Empower

Pros

• The app has a user-friendly interface and is ready to use within a few clicks. 
• It offers investment plans as well. So, if you want to plan ahead for future growth, you can track your expenses and invest your money at the same time.
• In the paid version, you can sync your bank account with the app and opt for the automatic budget planning feature.

Cons

• It charges a significantly high investment fee.
• There is a minimum investment requirement of $100,000. 

Reason to Choose

This app is ideal for people who want to track or budget their finances in order to invest wisely. The app lets you do both simultaneously.

Cost: The app is free, but if you invest through it, you have to pay .89% of the app fees. 

Ratings: 4.1 Stars 

You Need a Budget (YNAB)

Pros

• The app lets you check where you spend, and you can eliminate overspending.
• Their customer support team is active, and you get instant solutions. 

Cons

• It is an expensive option. There are apps that might offer a few of its features for free. 

Reason to Choose

The app is ideal if you want to opt for the popular zero-based budgeting strategy, where every dollar you make is allotted to a specific category. If you want to pay off your debt or wish to save for a big purchase, like a home of your own, this app is the best choice. 

Cost: You get a 30-day free trial. After that, it will cost $14.99 per month. 

Ratings: 4.7 Stars

How to Choose the Best Budget App for Your Family 

Your choice of the best budget app for your family depends on your financial goals, overall income, lifestyle, and similar other factors. To make an informed decision, here are the tips and tricks you should use.

• You should have clarity about your financial goals as different apps cater to varied requirements. So, it is better to know whether you are saving for a big purchase or to pay off your debt. 
• Check the budgeting style that your preferred app offers. Some apps ask about income sources and expenses from you. On the other hand, a few do it automatically by synching it with your bank account. 
• Always check the app trial version to understand the interface and navigate through the features it offers. It will save you from the disappointment at a later stage. 
• Lastly, you should check the app cost and make sure it is worth it, based on the features it offers. It is significant to do a fair cost-benefit analysis to make a fruitful decision. 

Conclusion  

A promising family budgeting app can make a significant difference in helping you achieve your financial goals. Whether you want to track your expenses or streamline all your income sources, you can find an app that caters to all your requirements. 

Once you have selected the best budgeting app, you can create a perfect balance between your income and expenses and keep moving closer to your goals. Just start by exploring the list we have shared, pick the app that perfectly fits your requirements and experience efficient financial management.

Family Budgeting Apps FAQs