Top 7 Best Free Budgeting Apps Every Side Hustler Needs in 2024

If you’re looking for the best free budgeting apps in 2024, you’re in the right place! 

I know managing your finances while juggling a full-time job and a growing side hustle can be overwhelming. 

As someone who's balancing corporate life and entrepreneurial dreams, you need tools that simplify your life and help you stay organized. 

Trust me, with the right best free budgeting apps 2024, you can track your expenses, set aside money for taxes, and even plan for future growth—without breaking a sweat.

In this post, we’ll explore the best free budgeting apps 2024 every side hustler should have in 2024. 

These tools will help you manage both personal and business finances with ease, so you can focus more on building your side hustle. 

Let’s dive in!

Why Side Hustlers Need Budgeting Tools in 2024

As a side hustler, your financial situation is unique. You're balancing income from your full-time job and your side business, along with personal expenses, taxes, and reinvestments in your hustle. It can be a lot to manage!

Here’s why having a budgeting tool is essential:

• Managing Multiple Income Streams: Whether you get paid bi-weekly from your corporate job and weekly from your side hustle, tracking all these payments can get confusing. A budgeting app helps you keep your different sources of income organized.
• Balancing Personal and Business Expenses: Maybe you're spending on office supplies, software subscriptions, or marketing for your side hustle. A good budgeting app allows you to categorize these expenses separately from your personal ones, giving you a clearer picture of how much you’re investing in your business.
• Tax Preparation: Side hustlers often have to manage their own taxes, including setting aside money for quarterly payments and tracking deductible expenses. With the right app, you can automate some of this tracking, ensuring you're ready when tax season rolls around.
• Planning for Future Growth: Every side hustler dreams of scaling their business. Budgeting apps provide detailed reports, helping you determine when it's time to reinvest profits, hire help, or even expand your services.

When your finances are in order, you have more headspace to focus on what really matters—growing your business!

What to Look for in a Free Budgeting App for Side Hustlers

Not all best free budgeting apps 2024 are created equal, and as a side hustler, your needs are a bit more complex. Here’s what to consider:

• User-Friendly Interface: You’re busy. Your app should be easy to use and not require hours of setup or maintenance.
• Expense Categorization: Being able to separate personal from business expenses is key. The more customizable the categories, the better.
• Integration with Bank Accounts: You’ll want an app that syncs with your personal and business accounts so you can track transactions automatically without manual entry.
• Reports and Analytics: A solid budgeting app should give you insights into your spending, help you track cash flow, and provide you with the data you need to make smarter financial decisions.
• Security: Since you’ll be linking your bank accounts and personal information, choose an app with strong security features, like encryption and two-factor authentication.

Now, let’s get into the apps that offer all this and more.

Top 7 Free Budgeting Apps Every Side Hustler Needs in 2024

1. Spendee

Spendee is a visually appealing budgeting app designed to help users manage their finances effortlessly. 

It allows you to create multiple wallets to separate your personal and business finances, making it a great tool for side hustlers who need to keep track of various income streams.

• Features:

Spendee enables you to create multiple wallets—perfect for separating your personal and business finances. 

You can also share wallets with others, making it ideal if you have a business partner or team member who needs access to financial data. 

Spendee’s user-friendly, visually appealing interface makes it easy to categorize expenses, track income, and stay on top of your financial goals.

• Why it’s great for side hustlers:

The multiple wallet feature is a game-changer for side hustlers who need to keep their personal and business expenses separate without confusion. 

Whether you're working with a business partner or want to keep tabs on specific financial goals, Spendee lets you do it seamlessly. 

The app’s colorful design also makes budgeting less intimidating, encouraging you to check in on your finances more often.

• Potential drawbacks:

Automatic transaction syncing with your bank accounts is only available in the paid version, so manual entry may be required for some users.

2. Mint

Mint is one of the most popular budgeting apps, known for its comprehensive features that allow users to track spending, create budgets, and manage financial goals all in one place. 

It connects directly to your bank accounts and credit cards for seamless tracking.

• Features:

Mint automatically tracks and categorizes your transactions by linking directly to your bank accounts.

It allows you to set financial goals, track spending, and even monitor your credit score—all from one dashboard. 

You’ll receive alerts for due bills, unusual spending, and even opportunities to save money.

• Why it’s great for side hustlers:

For side hustlers who are managing multiple income streams, Mint's automated tracking saves time. 

Since it integrates with various financial institutions, you won’t have to manually enter your expenses, making it ideal for someone juggling a full-time job and a side business. 

Plus, the ability to set goals and monitor spending helps you stay focused on growing your business without stressing over every penny.

• Potential drawbacks:

Because Mint syncs directly with your bank accounts, it may not provide as much flexibility when managing cash expenses or untracked income.

3. Goodbudget

Goodbudget uses the envelope budgeting method to help users manage their finances by allocating income into different virtual envelopes for specific categories. 

It’s a straightforward app that’s particularly useful for those who prefer visual budgeting techniques.

• Features:

Goodbudget allows you to allocate your income into various envelopes for categories like rent, groceries, and business expenses. 

The app is simple, helping you visualize your budget and spending. 

You can also sync data across multiple devices, making it easy to share with a partner or accountant.

• Why it’s great for side hustlers:

Goodbudget’s envelope system is excellent for side hustlers who want to stay disciplined with both personal and business expenses. 

You can easily create separate envelopes for different business expenses (like marketing, supplies, etc.) and track how much you’re spending in real-time. 

It’s a great way to keep cash flow in check, especially when your side hustle starts generating inconsistent income.

• Potential drawbacks:

Unlike other apps, Goodbudget doesn’t automatically sync with your bank accounts, meaning you’ll need to manually update transactions.

4. PocketGuard

PocketGuard simplifies budgeting by showing you how much disposable income you have after accounting for bills, savings, and goals. 

This app focuses on helping users manage their money in real time, making it easy to see where every dollar goes.

• Features:

PocketGuard connects to your bank accounts and credit cards to provide a clear view of your finances. 

It highlights your disposable income and helps you manage subscriptions or recurring payments that might be draining your budget.

• Why it’s great for side hustlers:

As a side hustler, keeping track of disposable income is key. 

PocketGuard makes this easier by telling you exactly what’s left “in your pocket” after essential expenses. 

This feature helps you make smart decisions about reinvesting in your side hustle or setting aside money for future business expenses. 

It’s perfect for side hustlers who don’t have the time to analyze every single expense but still want to avoid overspending.

• Potential drawbacks:

While PocketGuard is helpful for managing personal finances, it’s not designed to manage separate personal and business budgets, so you might need to work around this limitation.

5. Personal Capital

Personal Capital offers a robust platform for users to manage their entire financial picture, including budgeting, spending, and investments. 

It provides tools for tracking both short-term budgets and long-term financial growth.

• Features:

Personal Capital syncs your accounts, including bank accounts, credit cards, investments, and loans. 

It not only tracks your spending but also provides insights into your investment portfolio, making it a robust tool for anyone who wants to manage both short-term budgets and long-term financial growth.

• Why it’s great for side hustlers:

If you’re a side hustler who’s also investing in long-term assets or retirement, Personal Capital is a great choice.

It provides tools to track your business income while helping you plan for future financial goals like scaling your side hustle or saving for retirement. 

The ability to get personalized insights and advice based on your spending and investment behavior gives you a well-rounded approach to financial health.

• Potential drawbacks:

Its interface is more geared toward long-term financial planning and investments, which may feel overwhelming if you’re only looking to manage short-term cash flow for your side hustle.

6. Wally

Wally is a straightforward budgeting app that allows users to track income and expenses easily. 

It features a unique receipt scanning capability, making it easy to keep tabs on your spending without too much manual entry.

• Features:

Wally helps you track your income and expenses, set savings goals, and visualize where your money is going. 

One unique feature is its ability to scan receipts and categorize expenses, reducing manual entry.

• Why it’s great for side hustlers:

Wally’s simplicity is a major plus for side hustlers who are already managing multiple responsibilities. 

The ability to scan receipts makes it ideal for tracking business expenses on the go, whether you’re buying supplies or covering travel costs. 

Plus, the app’s minimalist design helps you focus on your finances without getting bogged down by too many features.

• Potential drawbacks:

Some users might find the app too basic if they’re looking for advanced features like investment tracking or automated bank syncing.

7. YNAB (You Need A Budget)

YNAB is a budgeting app that promotes a proactive approach to managing finances. 

It encourages users to assign every dollar a job, helping you plan your spending based on your actual income and build financial resilience.

• Features:

YNAB focuses on proactive budgeting by assigning every dollar a job. 

It helps you plan your spending ahead of time, based on your actual income, so you’re always in control. 

YNAB emphasizes saving for irregular expenses like taxes and encourages users to live on last month’s income to build financial resilience.

• Why it’s great for side hustlers:

YNAB is perfect for side hustlers who need a more disciplined approach to managing cash flow. 

Since side businesses often have fluctuating income, YNAB’s proactive method ensures you’re prepared for months when cash flow is low or unexpected expenses pop up. 

It’s also ideal for managing tax obligations, as the app helps you set money aside before tax season sneaks up on you.

• Potential drawbacks:

YNAB is free for 34 days, but after that, it requires a paid subscription, which might not be suitable for those strictly looking for free apps.

How to Choose the Right Budgeting App for Your Side Hustle

Now that you know the top options, how do you choose the right one for your needs?

Here are a few things to consider:

• Identify Your Needs: Are you more focused on tracking personal and business expenses separately? Do you want something simple and automated, or are you okay with manual entry?
• Evaluate Ease of Use: If you’re short on time, opt for an app that automatically syncs with your bank accounts and categorizes transactions for you.
• Consider Future Growth: As your side hustle grows, you may need more advanced features. Look for apps that offer paid versions with more customization options for when your business scales.
• Test Multiple Apps: Many apps offer free trials or have different free versions available. Try a few to see which one feels most intuitive for your financial needs.

How to Get the Most Out of Free Budgeting Apps

To maximize your financial success, here are a few hacks to make your budgeting app work for you:

1. Set Clear Financial Goals: Whether it’s saving for taxes, reinvesting in your business, or paying off debt, having clear goals helps you stay focused.
2. Categorize Your Expenses Correctly: Take the time to set up proper categories for your personal and business expenses. This will save you headaches during tax season!
3. Schedule Weekly Check-Ins: Dedicate 15-30 minutes each week to review your budget, track your expenses, and adjust your spending as needed.
4. Revisit Your Budget Monthly: Your financial situation will evolve as your business grows. Be sure to adjust your budget monthly to reflect new expenses, income, or savings goals.

Conclusion

Finding the best free budgeting apps 2024 is crucial for side hustlers who want to grow their businesses without losing control of their finances. 

Managing your finances effectively allows you to maintain a better work-life balance while giving your side hustle the attention it deserves. 

Choosing an app that fits your current needs is key, especially as your side hustle continues to grow. 

As you work on improving your time management and juggling your financial responsibilities, you’ll find yourself better equipped to navigate the challenges of balancing a corporate job with your entrepreneurial dreams. 

Staying organized and disciplined is your recipe for success!

I’m curious to hear your thoughts on budgeting apps! Have you tried any of the ones mentioned here? 

What strategies do you use to manage your finances while building your side hustle? Feel free to share your insights in the comment section below!