Sorry, friends. We have to go back to another manual entry tool. You probably know this by now, but we’re not interested in archaic technological tools. We love learning about the latest and greatest gadgets out there.
But, the reason we’re going to hammer away at manual entry apps over apps that sync your accounts and do everything for you is because the best way to master your budget is to become the master of your spending habits. Manual entry allows you to see the good, the bad, and the ugly.
So, Goodbudget is also the best budget app for iPhones and Androids because it’s going to force you to take a cold, hard look at every transaction. In fact, unlike Mint, it doesn’t even offer the option to sync with your bank accounts. You enter all the information from each of your bank accounts.
Goodbudget follows the good ol’ fashioned envelope system. We remember seeing our grandmother do this at the dining room table. She’d cash a portion of our grandfather’s paycheck. Some would remain in the account to write checks; some would be cashed for purchases like groceries, clothing, and gas. Once those envelopes were empty, that category was no longer viable.
So, Goodbudget asks you to set a dollar amount for each of your virtual envelopes. And, just like grandma, once the money’s gone, it’s gone. The “See Your Spending” area that creates a pie chart allows you to see how balanced you are.
Things like utilities and car payments can’t be tinkered with too much. But, if your “spending cash” envelope or “restaurant” envelope is eating up a lot of the pie, then it’s time to reprioritize.
In our opinion, this is one of the best budget apps for couples because you guys can sit down and really examine where you’re doing well and where you’re going wrong. And, although you can’t sync your bank accounts, you can sync your Goodbudget account with your partner in crime.
It’s not free, but it comes with a smaller price tag than our number one, You Need a Budget. In fact, it’s about half the cost at $5.99 per month or $50 per year.