A budgeting app isn't the only way to manage your money and track your spending. Here are some alternatives to budgeting apps:
Budgeting Software
While mobile apps are useful for everyday budgeting, software may be a better choice for a more robust money management experience. Software programs like QuickBooks and Quicken offer expanded functionality beyond budgeting, such as tax software integration and payment management. However, these extra features often cost more than a mobile app, so consider whether you can afford them.
Spreadsheet Budgeting
Spreadsheet budgets are highly customizable, making them a great choice for those who want a more hands-on approach than budgeting apps can provide. With a spreadsheet, you can record your income, track your expenses, and see where your money goes each week or month. Excel and Google Sheets are popular choices.
The 50/30/20 budgeting method works well for spreadsheet budgeting because it allows you to separate your expenses, discretionary expenses, and savings into categories in your spreadsheet and then allocate separate expenses to each category. Use our 50/30/20 budget calculator to get started.
Expense Tracking App
Some people may not feel the need to create a detailed budget or find it too difficult. In that case, tracking your spending is a good place to start. You can do this by regularly reviewing your bank and credit card statements or by using an app. A spending tracker app like Mint will give you a snapshot of your spending by category. You can use Mint to create a budget, but you can also use it to sync your various bank accounts to get a clearer view of your activity.
Cash envelope budget
If mobile apps aren't your thing, you might be better off creating a budget manually. Creating a budget without the help of technology is a good way to keep yourself accountable for your spending. Envelope budgeting or cash-stuffing budgeting are proven systems for visualizing your budget that can be done manually.
When you receive your paycheck, you divide a portion of your paycheck into envelopes. Each envelope is allocated to a specific category, such as rent, food, gas, etc. With this system, you have to decide how to spend every penny of your pay, and you can't spend more than what's in your envelope.