7 Best ‘Budgeting Software’ {Simple and Free} To Use in 2024

Money makes a person happy. Handling your money effectively embraces keeping a close eye on your expenditures. One way to do that is to take advantage of budgeting software and services.

Budget Software is available for free personal finances can be proved vigorous. Moreover, Budgeting Softwaret helps you record all your expenses, manage your budgets, and make affecting reports.

In today’s digital age, managing your finances has evolved from traditional pen-and-paper methods to innovative digital solutions. One tool leading this transformation is budgeting software. But what is it, and why should you use it? Dive into our in-depth exploration of budgeting software and its multitude of benefits.

What is Budgeting Software?

Budgeting software is a digital tool designed to help individuals and businesses plan, manage, track, and analyze their finances. It centralizes all financial data, making it easier to visualize and understand your spending habits, savings, and overall financial health.

7 Best Budgeting Software & Tools for 2024

If your computer runs on platforms like Windows, macOS, Linux, you can do budgeting on it. You can also do all your budgeting on your phone. In this article, you can understand the tools for tracking your finances and planning for the future.

1. Pen and Paper

There is a saying that Pen and Paper can create Histories. Yes, sometimes, a simple pen and paper can do wonders. Nowadays, a pen and paper were not used for writing a budget. After the entry of software, they become useless to write a budget. But, it is also a better way to plan the budget.

An excellent way to prepare your budget for future needs is to be done and pay yourself first. First, take a paper and pen and write all the expenses. Next, try to categorize those expenses according to the needs. Then, sum up your whole income. Also, bookmark the basic income. Thus, the leftover money can be spent on wants.

You can do it by depositing money into savings before covering other expenses. If the expenses exceed your income, you need to determine what changes should be made. To balance, you can cut the budget by cutting wants like dining out or a gym membership.

But, you should consider more significant changes such as switching to a lower cost of living. These are some of the important points which you can follow to set up a great future. It is also a type of budget planning. Therefore, the role of pen and paper is perfect for free budget planning.

2. Envelopes

Envelopes are another thing to fix a perfect budget. We can do it with the use of less technology to fix the budget. An envelope system does the work as easy to see the amount of money is available for spending. This is an excellent method which will help to stop problems such as overspending.

It is said that once you have set a budget, you will use the money for each category of your budget to keep it tucked in envelopes. When money is separated into particular envelopes, it is easy to handle it without spending more. Thus, envelopes are also a good method for budgeting and planning for the upcoming future.

3. Spreadsheets

Despite all the budgeting tools that are available until now, spreadsheets are special and different. The use of a spreadsheet will help to track income and expenses in a highly-customizable way. Nowadays, Microsoft Excel and Google Sheets offer budget templates to their users for free.

You can also create your own by several steps. Also, there can be a learning curve that is available for using these types of programs. Microsoft provides free online training for the users on its support website for Office products.

On the other hand, YouTube lends a supporting hand by providing tutorials on it. Spreadsheet budget needs more time than other options for maintaining. But, this extra effort helps users to understand better about your money.

4. Worksheets

A worksheet stands for a sheet of paper with work. The worksheet will help us to complete the works easily. The worksheet also simplifies the work and gives output quickly. If you are making a budget for the first time, the financial situation should be classified depending on the complexity. American Consumer Credit Counselling, an organization, is providing free budgeting worksheets online.

Another one named the nonprofits credit counseling has given sheets for household budgeting, expense tracking, and budgeting. This shows the importance and use of worksheets. So, the worksheet is essential for simplifying the work based on budgeting and planning the spending.

5. BudgetPulse

BudgetPulse is free online budget planning and finance software. It helps you to handle personal finance management. Also, BudgetPulse can be your home budget software. Thus, it will allow you to see them coming in and going out of the money. Its services are available at any time.

For instance, it is also supported with colorful graphs and charts. This feature of BudgetPulse makes setting a budget easier than ever and also to realize the benefits quickly. Several free computer software programs are available till now have been designed specifically with budgeting in mind. But, BudgetPulse is more than that, though.

It will let you input your financials into its site. Then, it will begin to manage expenses, cash flow. Finally, it will create your data as longer-term financial goals. Thus, BudgetPulse is one of the best software for budget making and planning.

6. GnuCash

GnuCash is budgeting software that is specially made for Desktops. It includes features like tracking bank accounts, stocks, income, and expenses. GnuCash is simply based on double-entry accounting for balanced books. Users can run several reports to see their financial data.

It also offers small-business accounting tools that let you manage customers and vendors. Also, it handles invoicing and bill payment, and even payroll. GnuCash is compatible with operating systems like Windows, macOS, and Linux. It also has a companion app for Android that will let you track expenses and later import them into the desktop software.

7. Mint

Mint is a free online budget plan analyzer from Intuit, the creators of TurboTax and Quickbooks. This app brings out all financial data together and shows an overview of the budget to the users. Additionally, it can tally the unusual spending, bills, and credit score too. Users can create their budgets and set up goals and reminders.

This tool will also help you to sync your data between the web and apps. Encryption and multi-factor authentication enhance the security of this tool. By using Mint, you can also track your investments and portfolio. Mint can access through the web or mobile apps for iOS (iPhones) and Android.

Why Use Budget Software?

  1. Consolidation: It aggregates all your financial data in one place, giving a holistic view of your financial status.
  2. Automated Tracking: It can automatically categorize and track expenses, eliminating manual input errors.
  3. Goal Setting: Allows for setting financial goals and monitors progress in real-time.
  4. Reports & Analysis: Offers insights through graphs, charts, and reports to understand spending patterns and areas for improvement.

How Do I Start Budgeting?

  1. Evaluate Finances: Begin by listing all your income sources and monthly expenses.
  2. Set Goals: Whether it’s saving for a vacation, paying off debt, or building an emergency fund.
  3. Allocate Funds: Assign a specific portion of your income to different categories, ensuring you live within your means.
  4. Monitor and Adjust: Regularly review and adjust your budget to stay on track.

What is the Simplest Budget System?

The 50/30/20 rule is a popular and simple budget system. It breaks down like this:

  • 50% of your income goes to necessities (rent, utilities, groceries).
  • 30% is allocated for wants (dining out, entertainment).
  • 20% is saved or used to pay off debt.

Benefits of Budgeting Software

  1. Time-saving: Automates the tedious task of manual tracking.
  2. Accuracy: Reduces the chance of human errors in calculations.
  3. Informed Decisions: Provides data-driven insights to make better financial choices.
  4. Accessibility: Cloud-based solutions allow budgeting on-the-go from any device.

Is Budgeting Software Safe?

While many budgeting software options employ advanced encryption and security measures, it’s crucial to:

  1. Research the Provider: Opt for reputable companies with a track record of secure handling of financial data.
  2. Use Strong Passwords: Ensure your account has a unique and robust password.
  3. Regularly Update: Keep the software updated to benefit from the latest security patches.

Is Budgeting Software Free?

There are both free and paid budgeting software options available. Free versions might offer basic functionalities, while premium ones can provide advanced features, insights, and personalization. It’s essential to assess your needs and budget to choose the most suitable software for you.


Budget planning is an important factor that can be a reason for better living. A successful budget planner helps you to decide how to spend your money in the best way.

In this article, you can get to know about some of the Simple and Free Budgeting Tools. So, use the effective tool from the list provided, and it makes your budgeting works as smart and also easy.

Budgeting software revolutionizes the way individuals and businesses manage their finances, offering a blend of convenience, accuracy, and insights. Whether you’re a budgeting novice or a seasoned financial guru, leveraging these tools can pave the way for a more secure and prosperous financial future.