At Spaugh Dameron Tenny, the first part of our pledge to clients is simple yet powerful: We Empower You. This means helping you feel in control of your money rather than allowing your money to control you.
One of the most effective ways to build that sense of control is understanding where your money goes each month. When you're clear about your spending, you can make informed decisions, whether saving for a home, paying off debt, planning a trip, or giving generously.
There are many tools available, but here are the top budgeting apps tailored to different life stages and financial needs:
YNAB uses a zero-based budgeting method where every dollar has a job. It’s ideal for helping young people manage their money with intention. Bonus: YNAB is free for college students for 12 months.
Goodbudget utilizes the envelope system, complete with digital envelopes, to track and limit spending across various categories. It is an excellent option for beginners learning to manage their day-to-day expenses.
Honeydue is specifically designed for couples to track spending, view bills, and even chat within the app — no need to fully merge accounts.
Monarch provides robust tools for couples who want to set goals, track their net worth, and manage a complete financial picture together. It is ideal for long-term planners.
Empower (formerly Personal Capital) is a robust choice for high-income earners seeking budgeting features, along with retirement planning, investment tracking, and net worth analysis, all in one dashboard.
Rocket Money excels at identifying and negotiating subscription costs. Although it may lack some budgeting features, it's a useful tool for identifying and reducing unnecessary expenses.
A budgeting app is a tool that helps individuals or families track their income, expenses, and savings goals in real-time, supporting smarter financial choices.
Empower is ideal for affluent users seeking cash flow, investment, and long-term financial planning features in one place.
Honeydue encourages transparency in everyday spending, while Monarch Money facilitates detailed goal setting and net worth tracking.
Yes. YNAB offers a free 12-month subscription to college students and teaches solid budgeting habits.
Absolutely. Apps like Rocket Money are designed to help lower recurring costs, like subscriptions and bills.
When choosing a budgeting app, look for features that align with your financial goals, lifestyle, and level of engagement. Here are the key features to consider:
Whether you're starting out, managing shared finances, or refining a complex financial picture, the right budgeting app can provide clarity and control. If you'd like help selecting the best system for your needs or wish to review your budget with a financial planner, our financial advisors are here to help.
These vendors are not affiliated with Spaugh, Dameron, Tenny or MML Investors Services, LLC. They are responsible for their own products and services.
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Shane Tenny, CFP®, is the Managing Partner of Spaugh Dameron Tenny and a nationally recognized financial advisor. Since 2000, he has combined extensive financial knowledge with a passion for behavioral finance—helping clients make informed decisions based on both data and mindset. Shane often contributes to industry publications, appears as a guest on podcasts, and has been a leader in the financial planning field for years. He is known for making complex topics clear and practical for busy, high-income professionals seeking personalized advice they can trust.
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