Budgeting Tools
Apps, spreadsheets, and methods for tracking finances.
Choosing a Tool
The tool matters less than consistent use. An imperfect system you maintain beats a sophisticated one you abandon. Consider your preferences:
| Preference | Tool Type |
|---|---|
| Maximum automation | Bank analytics, multi-banking apps |
| Detailed control & optimization | YNAB, spreadsheets |
| Minimal friction | Pay Yourself First + automatic transfers |
| Mindfulness & awareness | Manual tracking, Kakeibo |
| Free options | Spreadsheets, free app tiers, bank built-ins |
Digital Tools Comparison
Full-Featured Budgeting Apps
| App | Methodology | Best For | Key Features | Cost |
|---|---|---|---|---|
| YNAB | Zero-Based | Optimizers, debt payoff | "Give every euro a job," goal tracking, educational courses | ~€14/month |
| Monarch Money | Holistic wealth management | Couples, high earners | Unlimited household members, net worth tracking, investment dashboard | Paid subscription |
| Goodbudget | Envelope System | The disciplined | Digital envelopes; free version requires manual entry (enforces mindfulness) | Freemium |
| PocketGuard | Simplified | Minimalists | Single "In My Pocket" number = what you can safely spend | Freemium |
| EveryDollar | Zero-Based (Ramsey) | Ramsey followers | Aligns with "Baby Steps" debt elimination method | Freemium |
| Honeydue | Joint finance | Couples | Both partners see individual + joint accounts; chat feature for transactions | Free |
| Tiller | Spreadsheet automation | Data analysts | Bank data feeds directly into Google Sheets/Excel | Paid subscription |
Germany-Specific Apps
| App | Features | German Bank Support | Cost |
|---|---|---|---|
| Finanzguru | Automatic transaction import, expense categorization, subscription detection & cancellation reminders | Excellent | Freemium |
| Outbank | Multi-banking aggregation, budgeting, transaction search | Excellent | One-time purchase or subscription |
| MoneyMoney (macOS) | Multi-banking, budgeting, export for tax preparation | Excellent | One-time purchase |
German Bank Integration
International apps like YNAB and Mint often have limited or no support for German banks. Check compatibility before committing to a paid subscription.
Spreadsheets
Advantages
- Full control: Design exactly what you need
- Free: Google Sheets, LibreOffice Calc cost nothing
- Offline capable: Excel, LibreOffice work without internet
- Customizable: Adapt as needs change
- No vendor lock-in: Your data, your format
Disadvantages
- Manual entry required (no automatic transaction import)
- Requires discipline to maintain
- Initial setup effort
Basic Structure
| Column | Purpose | Example |
|---|---|---|
| Date | When transaction occurred | 2024-01-15 |
| Category | Spending category | Lebensmittel |
| Description | What it was | REWE groceries |
| Amount | Expense (−) or income (+) | −47.82 |
| Account | Which account | Girokonto |
| Notes | Optional context | Weekly shop |
Where to Maintain
| Platform | Strengths | Weaknesses |
|---|---|---|
| Google Sheets | Access from any device, sharing for couples, free | Requires internet, Google account |
| Microsoft Excel | Powerful functions, offline capable | Cost (unless Office 365), desktop-centric |
| LibreOffice Calc | Free, open-source, offline | Less polished than Excel |
| Notion/Airtable | Flexible database structure | Learning curve, less spreadsheet-native |
Automation Option: Tiller
Tiller connects to bank accounts and automatically populates a Google Sheet or Excel file with transactions. Combines spreadsheet flexibility with automatic data import.
Trade-off: Paid subscription, requires granting account access.
Manual Methods
Handwritten Tracking
Notebook, journal, or the Kakeibo method.
Advantages:
- Forces awareness of every transaction
- No subscriptions, no tech setup
- Works always — no battery, no internet needed
- The act of writing creates psychological friction (reduces impulse spending)
Disadvantages:
- Requires consistent discipline
- No automatic categorization or reports
- Time-consuming if many transactions
Best for: Those who find digital tools too abstract, or who need the mindfulness that manual recording provides.
Phone Notes
Quick capture in your phone's notes app, reviewed weekly.
Workflow:
- Record each expense immediately (store, amount)
- Weekly: Transfer to spreadsheet or review patterns
- Monthly: Analyze categories, adjust budget
Advantage: Always with you, zero friction to record. Disadvantage: Raw data requires processing.
Bank Built-In Tools
Many German banks offer analytics within their apps:
Transaction Categorization
| Bank | Feature | Quality |
|---|---|---|
| DKB | Automatic categorization, spending overview | Basic but functional |
| ING | "Finanzplaner" with category breakdown | Good for overview |
| Commerzbank | Expense analysis in app | Basic |
| Sparkasse | Varies by regional Sparkasse | Inconsistent |
Virtual Sub-Accounts (Envelope-Style)
| Bank | Feature | Description |
|---|---|---|
| N26 | Spaces | Virtual sub-accounts for goals; free with premium, limited on free tier |
| Vivid | Pockets | Category limits, cashback to pockets |
| bunq | Sub-accounts | Multiple IBANs within one account |
Advantage: No additional app needed, integrated with your banking. Disadvantage: Limited to one bank's view; less sophisticated than dedicated tools.
Multi-Banking Aggregators
If you have accounts at multiple banks (common for immigrants with legacy accounts), aggregators provide a unified view:
| App | How It Works |
|---|---|
| Finanzguru | Connects via PSD2 API; shows all accounts, auto-categorizes |
| Outbank | Multi-bank aggregation with offline access |
| numbrs | Swiss-based, multi-bank aggregation |
Regulatory note: Under PSD2 regulations, these apps access your data via regulated APIs — not screen scraping. Your bank login credentials are handled by the bank's interface, not stored by the app.
Selection Guide
By Primary Need
| Your Priority | Consider |
|---|---|
| See all accounts in one place | Finanzguru, Outbank |
| Zero-based budgeting | YNAB, EveryDollar |
| Envelope method | Goodbudget, N26 Spaces |
| Joint budgeting with partner | Honeydue, Monarch Money |
| Spreadsheet control + automation | Tiller |
| Free solution | Bank built-ins, spreadsheets, free app tiers |
| Mindfulness focus | Manual tracking, Kakeibo |
| German bank compatibility | Finanzguru, Outbank, MoneyMoney |
By Technical Comfort
| Level | Recommendation |
|---|---|
| Low — want it to work automatically | Bank analytics, Finanzguru |
| Medium — willing to learn a system | YNAB, Goodbudget |
| High — comfortable with customization | Spreadsheets, Tiller |
Getting Started
- Start simple: Pick one tool. Any tool. Use it for one month.
- Evaluate fit: Does it match how you naturally think about money?
- Iterate: Switch tools if needed. The goal is consistency, not perfection.
The Best Tool Is the One You Use
A simple system you maintain for years beats a sophisticated one you abandon after weeks. Start with the lowest friction option that meets your needs, and add complexity only when you feel the lack.
Privacy & Security Considerations
Questions to Ask
| Question | Why It Matters |
|---|---|
| Where is data stored? | EU data protection (GDPR) provides stronger protections |
| Is read-only access sufficient? | Apps with write access could initiate transactions |
| What happens if the company shuts down? | Can you export your data? |
| Who can see your financial data? | Sharing with "partners" may mean advertisers |
Practical Guidance
- Bank APIs (PSD2): Regulated, your credentials go to your bank — not the app
- Screen scraping: Older method, requires sharing credentials directly — avoid if possible
- Export regularly: Whatever tool you use, ensure you can export your data
Free Often Means You're the Product
Free apps may monetize through data sharing or targeted advertising. Evaluate whether a paid subscription offers better privacy for your situation.
Sources
- YNAB — official website, pricing. You Need a Budget. Accessed: January 2025. https://www.ynab.com/pricing
- Monarch Money — official website, pricing. Monarch Money. Accessed: January 2025. https://www.monarchmoney.com/pricing
- Goodbudget — official website, pricing. Goodbudget. Accessed: January 2025. https://goodbudget.com/pricing
- PocketGuard — official website, pricing. PocketGuard. Accessed: January 2025. https://pocketguard.com/pricing
- EveryDollar — official website, pricing. Ramsey Solutions. Accessed: January 2025. https://www.ramseysolutions.com/ramseyplus/everydollar
- Honeydue — official website, service description. Honeydue. Accessed: January 2025. https://www.honeydue.com
- Tiller Money — official website, pricing. Tiller. Accessed: January 2025. https://www.tillerhq.com/pricing
- Finanzguru — official website, features and pricing. Finanzguru GmbH. Accessed: January 2025. https://www.finanzguru.de
- Outbank — official website, description and pricing. Verivox Financial Services GmbH. Accessed: January 2025. https://outbankapp.com
- MoneyMoney — official website, features and cost. MoneyMoney Software GmbH. Accessed: January 2025. https://moneymoney-app.com
- N26 Spaces — sub-account feature description. N26 GmbH. Accessed: January 2025. https://n26.com/en-de/spaces
- Vivid Pockets — sub-account and cashback feature description. Vivid Money. Accessed: January 2025. https://vivid.money/en-eu/features/pockets/
- bunq — official website, sub-account description. bunq B.V. Accessed: January 2025. https://www.bunq.com/sub-accounts
- numbrs — official website, feature description. numbrs Personal Finance AG. Accessed: January 2025. https://www.numbrs.com
- Directive (EU) 2015/2366 on payment services in the internal market (PSD2). European Parliament and Council. November 25, 2015. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015L2366
- "How Free Apps Make Money: Advertising, In-App Purchases, and Data." Electronic Frontier Foundation. 2023. https://www.eff.org/deeplinks/2023/05/how-apps-track-and-monetize-your-data