Best Budgeting Apps for Indians

The right budgeting app can transform your financial management. Here’s a comprehensive guide to apps that work well for Indian users.

Types of Budgeting Apps

1. Automatic Trackers

Read SMS and categorize transactions automatically Examples: Walnut, Money View

2. Manual Entry Apps

You enter every transaction Examples: Money Manager, Expense IQ

3. Bank-Connected Apps

Link to bank accounts for automatic sync Examples: ET Money, Groww

4. Full Budget Planners

Complete budgeting systems with planning Examples: YNAB, Mint

Top Apps for Indian Users

1. Walnut (Free)

Best for: Automatic expense tracking

Features:

• SMS parsing (works with Indian banks)
• Automatic categorization
• Bill reminders
• Bill splitting
• Investment tracking

Pros:

• Works offline
• No manual entry needed
• Indian bank support
• Clean interface

Cons:

• Categorization sometimes wrong
• Privacy concerns (reads SMS)
• Limited budgeting features

Rating: 4.2/5

2. Money View (Free)

Best for: Complete financial picture

Features:

• SMS tracking
• Credit score monitoring
• Loan offers
• Bill reminders
• Spending analysis

Pros:

• Free credit score
• Good Indian bank support
• Loan comparison

Cons:

• Pushes loan products
• Privacy concerns
• Ads in free version

Rating: 4.0/5

3. ET Money (Free)

Best for: Investment + expense tracking

Features:

• Mutual fund investments
• Expense tracking
• Tax saving recommendations
• Insurance comparison
• Net worth tracking

Pros:

• Great for investments
• Tax optimization
• Professional interface

Cons:

• Expense tracking basic
• Focused more on investments
• Requires KYC for investments

Rating: 4.3/5

4. YNAB (Paid - $14.99/month)

Best for: Serious budgeters

Features:

• Zero-based budgeting
• Goal tracking
• Bank sync (limited India support)
• Reporting
• Debt payoff tools

Pros:

• Powerful methodology
• Great education resources
• Multiple device sync
• Age of money metric

Cons:

• Expensive
• Bank sync issues in India
• Learning curve

Rating: 4.5/5 (for methodology)

5. Money Manager (Free)

Best for: Manual tracking

Features:

• Manual expense entry
• Budget categories
• Reports and charts
• Data backup
• Widget support

Pros:

• Completely free
• No SMS permissions needed
• Full control
• Offline works

Cons:

• Manual entry required
• Basic interface
• No bank connection

Rating: 4.1/5

6. Goodbudget (Free tier)

Best for: Envelope budgeting

Features:

• Envelope system
• Sync between partners
• Reports
• Debt tracking

Pros:

• Great for couples
• True envelope method
• Simple interface

Cons:

• Limited free envelopes
• Manual entry only
• No Indian bank sync

Rating: 4.0/5

7. Expense IQ (Free)

Best for: Detailed tracking

Features:

• Expense tracking
• Budget limits
• Recurring transactions
• Multiple accounts
• Reports

Pros:

• Detailed reports
• Multiple currencies
• Customizable

Cons:

• Dated interface
• Manual entry
• Steep learning curve

Rating: 3.8/5

Comparison Table

Choosing the Right App

Choose Walnut/Money View if:

• You want automatic tracking
• You’re okay with SMS access
• You want minimal effort
• You’re a beginner

Choose ET Money if:

• You also want to invest
• You want tax optimization
• You want comprehensive financial app

Choose YNAB if:

• You’re serious about budgeting
• You can afford the subscription
• You want to learn a methodology
• You’re okay with manual entry

Choose Money Manager if:

• You want full privacy
• You prefer manual control
• You want free solution
• You’re detail-oriented

Choose Goodbudget if:

• You want envelope system
• You budget with partner
• You like simple interface

Setting Up Your First Budgeting App

Week 1: Track Only

• Don’t try to budget yet
• Just track all spending
• Categorize correctly
• Build the habit

Week 2-4: Analyze

• Review spending patterns
• Identify problem areas
• See where money goes
• Note surprises

Month 2: Set Budgets

• Create category limits
• Start with high-spending areas
• Set realistic targets
• Review weekly

Month 3+: Optimize

• Adjust budgets based on actual
• Add savings goals
• Automate more
• Review monthly

Privacy Considerations

SMS-Based Apps (Walnut, Money View)

Data they access:

• All financial SMS
• Transaction amounts
• Merchant names
• Account balances

Concerns:

• Data stored on servers
• Potential security risks
• Marketing use of data

Mitigation:

• Review privacy policies
• Check data deletion options
• Consider manual alternatives

Bank-Connected Apps

Risks:

• Login credentials shared
• Full account access
• Data synchronization

Safety measures:

• Use only reputable apps
• Enable 2FA
• Review connected services regularly
• Revoke unused connections

Spreadsheet Alternative

If apps aren’t for you, Google Sheets works great:

Pros:

• Complete control
• No privacy concerns
• Customizable
• Free
• Accessible anywhere

Cons:

• Manual entry
• Requires setup
• No automation

Template structure:

Tabs: Monthly Summary | Jan | Feb | ... | Categories | Goals

Key Takeaways

• Start simple — Walnut or Money View for beginners
• Graduate up — YNAB for serious budgeting
• Privacy matters — Consider manual apps if concerned
• Track first, budget later — Understand spending before limits
• Consistency beats features — Best app is one you’ll use

Next: Reducing Monthly Expenses — Practical strategies to cut spending.