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75% of Indians do not have a emergency fund if a sudden expense comes up get they will go into debt to fund it!! So it be clear of this, it is very important to keep control over the money. Now the question arises what is the best way to control my money? Budgeting is the answer for this as it not only teaches us how to control our money but also gives us the vision on why does one’s whole salary disappears in the middle of the month.
Budgeting can be done in a physical book, a Google Sheet, or even just mental notes. But let’s face it, most of us are too lazy to do it and many do not even know where to start. So to help us start with this we have listed some of the best budgeting apps in India, which will not only do budgeting for you but also keep the data private and secure.
Despite following all the finfluencers and finance gurus online, most youngsters still feel like their money vanishes by the end of the month. You may try cutting down on coffee, skipping one Zomato order, or limiting shopping, yet your account balance drops faster than expected. It feels like no matter how careful you are, expenses keep slipping through cracks you did not even notice. That is why learning to budget with the right tools matters, especially when you are just starting your financial journey. Here are somethings which we do which eat into our savings
Put these together, and suddenly your salary has pulled a disappearing act. The worst part is you cannot even point to one big expense because it feels like your bank account is playing hide and seek every month. If you control your money properly and instead of spending in a month you manage to grow it then you my friend, become a Money Master.
There are steps you need to follow to become a Money Master. The first is to get clarity on where the money goes, and that is where budgeting steps in. Once you have this clarity, you can see your spending patterns, set limits, and actually save without feeling lost. Budgeting does not make you rich overnight, but it does give you control over your money.
Money does not actually disappear. It slips away because we do not track it. Budgeting is the first step to putting that flow back in your control.
Not all budgeting apps work in the same way. Each one has its own method of tracking money, and knowing the difference helps you pick the right fit for your lifestyle. For youngsters who are just starting to manage their own finances, the main types of budgeting apps in India can be grouped into three categories.
1. SMS/Email Readers
These apps scan transaction alerts from your SMS or Email inbox and automatically update your spends. They work well because almost every bank and wallet sends a message after a transaction.
2. Account Aggregator (AA) Based Apps
With the new RBI-approved AA framework, some apps can fetch financial data directly from your bank or financial institution with your permission. This gives you a consolidated and accurate view of money flow across accounts. The AA system is still quite new in India and many people are not fully aware of it yet. We have covered this topic in detail in our dedicated guide here.
3. Manual Entry Apps
These apps let you add each expense yourself, either you do it daily or weekly. They give more control but require discipline and consistency. Imagine this as a preset Google sheet just for budgeting. In this many of the apps can be international as they don’t need any special permission to read any message or follow any regulatory framework.
SMS and email reader apps are among the most common budgeting tools in India. They automatically scan transaction alerts from your inbox and update your expenses without any manual input. This makes them simple to use, quick to set up, and effective for tracking day-to-day spending. For young earners who want a hassle-free way to monitor their money, these apps are often the first choice. Now let us look at each app closely.
Axio, earlier known as Walnut, is a popular SMS reader-based budgeting app in India. It automatically scans your transaction alerts and sorts them into categories, giving you a clear picture of where your money goes every month. It also has BNPL and Personal Loans integrated within.
Pricing: Free to use, has other services like BNPL & Personal Loans.
Money View is one of the most widely used SMS reader-based budgeting apps in India. It scans your SMS inbox for transaction alerts, tracks your expenses automatically, and gives you detailed insights into your monthly spending. The app also offers personal loans and credit score monitoring as additional services.
Pricing: Free to use, has other services to like BNPL & Personal Loans.
ET Money is a popular personal finance app that combines expense tracking with investments and insurance. It uses SMS reader technology to automatically track expenses and provide insights into spending patterns while also giving users access to mutual funds, insurance, and tax-saving products.
Pricing: Free to use.
CASHe is mainly a credit and lending app, but it also uses SMS reader functionality to give insights into spending patterns. Alongside budgeting, it provides quick personal loans, credit lines, and Buy Now Pay Later (BNPL) options for users.
Pricing: Free to use. Loan and BNPL services come with interest and fees.
LazyPay is best known for its BNPL services, but it also has SMS reader features that track user spending. The app provides insights into purchases, repayment schedules, and expenses, making it useful for both budgeting and credit management.
Pricing: Free to use. BNPL and loan services come with interest or fees.
True Balance started as a mobile recharge wallet and has grown into a financial services app that includes SMS-based expense tracking. It helps users monitor spends, manage recharges, and access loans and insurance products.
Key Features:
Pricing: Free to use. Financial products carry charges.
Pros:
Cons:
AA-based budgeting apps in India use the RBI-approved Account Aggregator framework to pull financial data directly from your bank or financial institution with your permission. This allows them to give a complete and accurate view of your money across accounts in one place. If you want to learn more Account Aggregator we have made a comprehensive guide.
Jupiter is a popular neobanking app that links your bank accounts and delivers spend tracking, smart insights, and goal-based savings tools using consented account connections.
Pricing: Free to use but needs their bank account to use it as a budgeting app which has ₹5,000 minimum MAB.
Fold Money is a personal finance app built directly on the AA framework. It provides a consolidated view of accounts, expenses, and savings for a clear picture of financial health.
Pricing: Free to download.
Fi is a neobanking app designed for salaried professionals. It integrates with AA to track expenses, set savings rules, and provide monthly financial insights.
Pricing: Free to use but needs their bank account to use it as a budgeting app which has ₹5,000 minimum MAB.
INDmoney is a wealth and investment platform that uses AA to consolidate investments, accounts, and expenses into a single dashboard for better money management. It also has a small budgeting feature but it is not their main goal.
Pricing: Free with optional paid advisory services.
Anumati is a licensed Account Aggregator that also provides a user-facing app for secure, consent-based financial data sharing and account consolidation.
Pricing: Free to use.
Finvu is another RBI-licensed Account Aggregator app. It enables consent-based account linking and provides consolidated transaction and balance views in a simple interface.
Pricing: Free to use.
Manual entry budgeting apps give you complete control by letting you add every expense yourself. They require more discipline but are great for users who want full customization and prefer not to share data with third-party services. These apps are especially useful for people who like to plan their budget in detail and track every rupee manually.
Goodbudget is a digital envelope-style budgeting app that helps you allocate money into categories and track spending manually. It is widely used by people who want a structured way to plan expenses.
Pricing: Free with limited envelopes, premium version available for more features.
YNAB is a global budgeting app built on the principle of giving every rupee a job. It requires you to log expenses manually but provides advanced tools for planning and saving.
Pricing: Paid app with a free trial available.
Money Manager by Realbyte is a popular manual entry budgeting app in India. It allows detailed expense logging, customizable categories, and visual charts for easy tracking.
Pricing: Free with in-app purchases for advanced features.
Wallet is an international budgeting app that supports both manual and connected account entry. Many Indian users prefer it for its customizable categories and detailed reports.
Pricing: Free basic version with premium subscription for full features.
Yes. A budgeting app helps you see where small daily spends add up and keeps track of subscriptions, UPI payments, and one-off purchases so you can save without guessing.
For beginners, SMS reader or AA-enabled apps are usually easiest because they automate tracking and require minimal manual work while giving a clear view of your spends.
Most reputable apps follow RBI rules and use secure consent flows. Prefer apps that use the Account Aggregator framework or ask only for SMS access rather than full account passwords.
iPhone restricts SMS access to third-party apps. If you use an iPhone, choose AA-based apps or manual entry apps, or use email-based tracking where supported.
Check weekly for trends and at least once a month for a full review. Weekly checks catch leaks early while monthly reviews help plan savings and goals.
Yes. Most apps let you set savings goals and automate transfers or track progress, which makes saving for a trip or a gadget simpler and visual.
Some AA-based and wealth apps consolidate investments and net worth. If you want both budgeting and investment tracking, pick an app that supports account linking and portfolio view.
Most apps allow you to correct categories. Regularly review and fix mis-categorized items so the app learns your patterns and gives accurate reports.
You can, but it can create confusion. Pick one app that fits your primary goal and stick with it to maintain consistent tracking and insights.
Indirectly. Budgeting helps you pay bills and credit on time, which supports a better credit profile. Some apps also show credit score updates and reminders.
SMS and AA apps may miss cash transactions. Use quick manual entries for cash spends or set a weekly cash budget to keep them visible in reports.
Try an app that matches your priority. For automation choose an SMS or AA app. For full control pick a manual entry app. Test one for a month and see which one you maintain.
Budgeting may not sound exciting, but it is the single most important habit that shapes financial stability. Whether you use SMS readers, AA-powered apps, or manual entry tools, the real value comes from knowing exactly where your money goes and how you can redirect it toward your goals. For young earners in India, the right budgeting app can be the difference between living paycheck to paycheck and steadily building savings for the future.
The best app for you depends on your comfort level. If you prefer automation, SMS readers or AA-based apps work well. If you like control, manual entry apps are better. What matters most is consistency. Once you start tracking and budgeting regularly, you will not just stretch your salary further but also build habits that lead to investing, wealth creation, and financial independence.