Best simple budget app?

J30

Hi all
looking for recommendations on a simple budget app. 

I want to be able to see “pockets” or “categories” of funds in my account that I have budgeted for that  gradually reduce as and when I spend from that category.

i also want to be able to see anything that is left over. So basically any money that is spare and doesn’t sit in a category - if that makes sense?

blue.peter

Spreadsheet? Notebook and pen?

J30

blue.peter said:

Spreadsheet? Notebook and pen?

Already use a spreadsheet. 

But that didn’t answer my question. 

I asked if anybody can recommend an app that is able to do this for me. 

Rob5342

I don't know of a standalone app but have you looked at Starling and Monzo? They let you split the account into different spaces/pots, then you can move money between pots as it suits you and also have direct debits come out of particular pots. Alternatively have a look at Chase, you can have multiple accounts for different things and change which account your debit card is linked to 

mr_stripey

I use YNAB (You Need A Budget). There is an annual fee though but overall I feel it has saved me lots of money in the three years I've been using it.


https://www.ynab.com/

GreenScepter

You could give HyperJar a look, it's a prepay virtual debit card with an app (you can get a free physical card too). I only signed up for it because of the cashback offer (now ended) they had a couple of months ago but they seem to have separate spending pots or "jars" as they're called. By default is has things like grocceries, home, subscriptions etc, but you can make your own jars and assign certain shops and services to them.

Sounds good but I think with this sort of thing the only real way to see if it works for you is to just try the various suggested apps so you can see how it actually works for your personal circumstances before fully committing.

kimwp

I think the first bit is achievable by a number of methods from pen and paper, to apps to bank accounts with pots.

Not sure how easy it is to combine with the second bit, unless you create a pot called "no category" and put your spare money in there.

Desmond_Hume

Monzo and Starling do this (there may be others but I don’t use them). Monzo does it better IMO. 

For me, a spreadsheet to initially set budgets then Monzo to monitor. I personally wouldn’t go to granular. So a general “Entertainment” category for me is better than “Coffee”, “Eating Out”, “Cinema”. The single, more general category gives enough control so long as you’re clear on its definition. 

What is it you feel like you’re missing? 

stuartp2000

For the last year I have used YNAB as per Mr_stripey and just renewed for year 2. it is 85 quid a year but does zero based budgeting and as you said you want to budget categories and see what is left over it is ideal for that.

I tried loads of different options last year to avoid the subscription, but in my opinion nothing came close (speadsheets, hyperjar, monzo, plum to name a few).

I now used spreadsheet for high level planning and forecasting and YNAB for actual £'s in the bank

Desmond_Hume

Just going to chime in again. You can have the best financial plan in the world but, if you don’t execute according to the plan then you’ve wasted your time.  

My professional background is project planning. I use the same techniques in my own personal financial planning. At work, plans fail because people don’t do what they said they were going to do. It’s really that simple (barring the occasional curve ball, but your plan should include risk and risk mitigation for that). 

Gino_the_chef

Hey! It sounds like you’re describing Emma app —it does exactly what you’re looking for! 

The free version lets you track spending by categories (‘pockets’), and the paid plan (worth the small fee, IMO) unlocks multi-account sync and deeper insights. The subscription even gamifies accountability—since you’re paying for it, you’re more likely to stay on top of your budget!

Alternatives like Monzo also offer similar features, but Emma’s interface is super intuitive for your needs.