10 Best Free Personal Finance Management Apps for Android – 2024

Personal Finance involves managing your expenses and saving to achieve saving goals. Budgeting is critical to helping people break free from financial struggles and create financial stability.

The finance management apps are great tools for reinforcing good habits and helping you manage your spending and saving. Picking a budget app can seem like a small decision when compared to other choices. But the right budgeting app can make a big difference in your personal financial life. 

We have enlisted the 10 Best Free Personal Finance Management Apps for Android with features, pros, and cons to help choose the best that matches your priority.

10 Best Free Personal Finance Management Apps for Android

Mint

The first on our list of Best free personal Finance management app is Mint. Mint is a personal finance management app developed by Intuit. The Mint budgeting app connects with your financial accounts, so that users can get a clear picture of their personal finance health and total debt within the app.

Features

• Easily connect all your accounts. From cash and credit to loans and investments, you can see your complete financial picture.
• Notifies when your subscription costs increase and when bills are due.       

Pros

• Today’s insights feature produces personalised insights by tracking net worth, spending, and budgets to find opportunities to save. 
• Mint prioritises the security and privacy of users’ financial information 

Cons

• Customer’s support options are limited compared to other apps
• Transaction from linked account does not update or appear on time.This issue affects budgeting and expense tracking.

Pricing

• Free
• Membership – $4.99/month

Link – https://mint.intuit.com/

Goodbudget

The second app on Best free personal Finance management app list is goodbudget. The Budgeting app that relies on a traditional envelope system to help users budget monthly expenses. With excellent ratings on Google Play and App store. Goodbudget has earned a spot on Forbes Advisor’s Best Budgeting Apps 2024.

Features

• Goodbudget has a free and paid version and just a few more capabilities are present in the paid version.
• Resources to help users along their budgeting journey (such as podcasts and courses)

Pros

• The envelope budgeting system is greatly effective. Users have to allocate funds for categories which helps to stay organised and track spending better.
• User-friendly interface that is easy to navigate, making it accessible for users.
• Offers a supportive online community where users can share strategies and advice with fellow users.

Cons

• Envelope budgeting systems may create a learning curve for new users unfamiliar with this method of budgeting.
• Free version restricts users to one account
• Relies on manual data entry for recording transactions,which is time-consuming and tedious for users.

Pricing

• Free
• Goodbudget Plus -$8/month or $80/year, plus tax

Link – https://goodbudget.com/

Everydollar

Next on our list of  Best free personal Finance management app is Everydollar. Everydollar is a budgeting app created by Dave Ramsey’s team. This app offers a zero based budgeting framework, where every dollar of income is allocated to a category or expense. This method of budgeting is easier to manage.

Features

• Uses Zero based budgeting framework.
• Offers free and paid versions and there are a lot of differences in capabilities.
• Provides financial report and insights

Pros

• Offers a simple and User-friendly  interface 
• Syncs across multiple devices and  ensures that users have up-to-date information about their finances at all times.

Cons

• The free version of EveryDollar is pretty ordinary.You can’t sync accounts but manually enter transactions.
• The premium version is too pricey 

Pricing

• Free
• Membership- $17.99/month or $79.99/year

Link – https://www.ramseysolutions.com/ramseyplus/everydollar

Empower

Fourth on our list of  Best free personal Finance management app is Empower.Empower is a Retirement plan recordkeeping financial holding company. The app provides a spending snapshot by listing recent transactions by category. You can customise those categories and see the total monthly spending each category represents.

Features

• Empower is a great platform for robo-advice, wealth management, and private client services
• Empower also serves up a net worth and portfolio tracker.

Pros

• Access to their paychecks early without charging fees or interests.
• Available features that focus on short-term and long-term finance.

Cons

• Pay a minimum of 0.89% per year to use its services if you have below $1 million in your account.
• Cash advance feature does not allow access to  large amounts.

Pricing

• Free

Link – https://www.empower.com/empower-personal-wealth-transition

YNAB

The fifth app on our list of  Best free personal Finance management app is YNAB, short for ‘You Need a Budget’, is a budgeting software. YNAB allows you to link your checking and savings accounts, as well as credit cards and loans. Reports in three categories: spending, net worth, and income vs. expense.

Features

• YNAB provides educational guides and tutorials to help learn how to budget effectively.
• Employs zero based budgeting system.

Pros

• Offers free trials and a money-back guarantee
• College students can use YNAB for free for a year
• No ads or offers appearing in the interface

Cons

• Users with complex investments may find YNAB to be limited.
• The user interface isnt much different from a Microsoft Excel Sheet..
• Lack of investment tracking

Pricing

• Free
• 414.99/month or 499/month

Link – https://www.ynab.com/

Wally

The sixth on our list of  Best free personal Finance management app is Wally. Wally is an AI powered personal finance app. Wally is a budgeting tool and finance management app wrapped into one. It also offers a wide range of banks from which you can import your accounts.

Features

• The highlights tab has the days of the week listed and the amount spent each day.
• Spending tab shows recent charges in graph form

Pros

• Wally has more features than most budgeting apps – free or paid. 
• Fully automated

Cons

• Wally as an AI model may produce biased output due to biased data present in training data.
• Raising concerns about privacy and data security

Pricing

• Free

Link – https://www.wally.me/

Honeydue

The seventh app on our list of  Best free personal Finance management app is Honeydue. Honeydue is a finance app for partners to manage the money together. HoneyDue makes it easy to strike the perfect balance when combining finances. Honeydew can help keep transactions and budgets organised while making it easier to communicate with your partner about finances.

Features

• Partners can chat to each other within the app regarding certain expenses.
• Partners can split expenses with each other directly in the app
• Joint bank account available, easily integrates into app

Pros

• The Honeydue budgeting app (with all its features) is free to use.
• Automated bill payment alerts
• Partners can chat to each other within the app regarding certain expenses.

Cons

• There is not an option to upgrade to an ad-free version
• No reporting or analytics available
• No feature to track progress towards financial goals.

Pricing

• Free

Link – https://www.honeydue.com/

Rocket Money

The next on our list is Best free personal Finance management app is Rocket money. Rocket money is a financial management and budgeting platform available on both Android and iOS.

Features

• Rocket Money is known for cancellation concierge service, which allows you to unsubscribe from the monthly subscription and to get a refund.
• Offers bill negotiation by live representatives.

Pros

• Money saving features like cancellation concierge, smart savings account and live bill negotiation services are available.
• Premium tier offered on sliding scale

Cons

• Live customer services are only for premium members.
• Mobile apps occasionally have lag and slowness

Pricing

• Free
• Premium – Starting at just $4/month(varies)

Link – https://www.rocketmoney.com/

Quicken

Next on our list of  Best free personal Finance management app is Quicken. Its an app perfect for keeping track of multiple bank accounts of all types. This app has been in the personal finance management game since 1983. Since then, its offerings have expanded into business as well.

Features

• Offers Business document storage, asset management and custom reports for tax schedules to assist businesses.
• Feature to split receipts across multiple spending categories.
• 4 types of subscription: Simplifi, Deluxe, Premier and Home & business.
• Home & Business package includes rental property features and robust tax planning.

Pros

• Straightforward and user-friendly interface.
• Bonus real estate features

Cons

• Investing features not relevant for business.
• No customer portal for paying invoices.

Pricing

• Free
• Starter: $47.88/year 
• Deluxe: $71.88/year 
• Premier: $95.88/year
• Business & Personal: $131.88/year

Link – https://www.quicken.com/

Oportun

The last app on our list of Best free personal Finance management app is Oportun. Oportun, formerly known as Digit, takes the ‘set it and forget it’ approach, automatically making the process hassle free. Data should be provided and the app calculates an appropriate amount to deposit in either your savings account or a retirement account each day.

Features

• Set up your savings goals, target amount and date.
• Calculates a safe amount of money to save and deposits that amount into your Oportun account.

Pros

• Savings account is FDIC insured
• Easy-to-navigate user interface

Cons

• Can’t directly move money from savings to investing
• Free version can be used only upto 30 days.

Pricing

• Free
• Membership- $5/month

 Link – https://oportun.com/

Which is the Best Personal Finance Management app?

Mint is an overall personal finance management app. Mint budgeting app most importantly is a free app with many features. It has features to sync bank accounts, credit cards and retirement accounts to track income, purchases and savings. Also, it comes with a daily budget planner and automatically updates and categorises expenses.

Conclusion

Budgeting apps have helped users save thousands of dollars in the first year alone. Some budgeting apps use a specific budgeting approach-like envelope or zero-based budgeting- while others will address budgeting more generally. A fully featured budgeting app can help you track spending, manage recurring bill payments, set savings goals and manage cash flow.

FAQs – 10 Best Free Personal Finance Management Apps for Android

Which is the best app to manage personal expenses?

Mint, Jupiter Money, Wallet, Day-to-Day expenses, and Finart are some of the best apps for personal everyday expenses.

Is Mint App safe?

Mint is a personal finance app that is safe to use. The company has safety features including multi-factor authentication and security scanning tools.

Which money manager app is approved by RBI?

RBI has approved a number of loan apps in India, including Paytm, Bajaj Finserv, CASHe app, EarlySalary, Dhani, FlexiLoans, Money View Loans, Indialends, Lendingkart, India lends, and many more.