Top 13 Best Personal Finance Apps Canada - 2023 Review (2024)

Are you one of the many Canadians who are looking for ways to manage your money and get on track with your budget?

Maybe you’re looking for a way to keep track of where all that cash is going, or maybe you want something that will make it easier to save up.

Luckily, there’s an app for everything!

Today we’ll be taking a look at some of the best personal finance apps out there. This list includes both paid and free options, so no matter what your budget looks like, everyone can find something suitable here.

I mean, you never can tell where or when the miscellaneous and sometimes ridiculous expenses would spring from.

If we’re honest, while we make efforts to draw out financial budgets and manage and track our expenses, we don’t know the most effective way to go about it. But don’t worry!

Thanks to the best personal finance apps that are available today, you can easily manage your finances effectively and easily. And no! you don’t need prior knowledge of bookkeeping to deploy these apps effectively.

All you need is the willingness and the zeal to bring orderliness and accountability to every penny that leaves your account.

Now, let’s take a closer look at which ones made our list!

Quick Glance: Top 13 Best Personal Finance Apps for Canadians, 2022-2023

Here are the best personal finance apps for Canadians that’ll help you check your spending habits and smash your financial goals.

In-Depth Review: Best Personal Finance Apps Canada

To curate this list and make it very effective, we’ve reviewed the best finance apps for Canadians that’ll help you easily monitor your cash flow and effortlessly track your expenses.

Ready to build healthy money management skills? Here’s an easy way to get on track. Let’s dive in.

1. Best Overall & Best Free Budgeting App > Mint

We start with the Mint app as the best personal finance app because there are so many reasons to love it. For starters, as a financial planning and budgeting app that makes it easy to manage your finance. How? You can sync this app with your credit cards, bank, and retirement account so that you’d effectively track your expenses and income automatically.

If you’re having trouble with budgeting, leave it all to the Mint app to help you whip up a personalized budget goal for you. It does this by examining your income and spending patterns.

The best part? You’ll be alerted once you exceed spending limits or when there’s been a suspicious transaction on your account. Also, whenever you use the ATM, you’ll know if you were charged an ATM.

Trust us when we say that the Mint app is a terrific way to know how much cash flows into your account and how much cash flows out and why. Did we forget to mention that it is an entirely free budgeting app? Well, I guess we just said it.

2. Best for Financial Planning and Debt Payoff > YNAB (You Need a Budget)

The YNAB (You Need a Budget) seeks to help you achieve a healthy financial life with its fantastic budgeting philosophy. Their philosophy enables you to save money and smash your financial goals through their monthly budget plan.

Based on statistics, YNAB has helped average users save up to $600 within the space of two months from when they started using it.

Let’s talk about budgeting on the app. For starters, you start your financial journey on the app with a default budget category assigned to you by the app. This budget category is to give you a head start. Then, you can modify it to have multiple budget categories that meet your needs. In essence, it comes with the customizable budgets feature.

It gets better! This app also helps you set saving goals, and it tracks your expenses too. There’s no room for a dormant dollar as every Dollar has a job; it either works to sort out a fee or save for your future.

But you should know that this app comes at a cost. But first, you get to enjoy a 34-day free trial that doesn’t require you to put in your card details. However, mark my words! You’ll want to continue with this app after tasting it.

READ ALSO >> Budgeting Tips for Success – The 10 Commandments of Budgeting!

3. Best for Tracking Spending and for Overspenders > PocketGuard

If you’re a lousy spender trying to control your daily spending, then you’ll most likely love PocketGuard.

As a budgeting app tool, it will help you set daily spending limits. Once you start to go beyond the set limit, you’ll get an alert to caution yourself and suspend spending for another day.

Want to know the best part? You can personalize your account by syncing it to your saving and chequing account, credit and debit cards, and more. Once personalized, the app shows you just how much you have to spend after estimating your income with the upcoming expense.

4. Best for Saving and Investing > Unifimoney

Need a personal finance app that not only makes it easy for you to manage your finance but also has a crypto feature that opens you to the world of crypto investment and many other investment opportunities?

Here you go! Unifimoney got you covered. Unifimoney is a comprehensive all-in-one money management tool that opens you up to diverse types of investment opportunities, from auto-investing and traditional investing to crypto.

Here, you stand a huge chance to manage the current income you earn and to judiciously use the money you earn by putting them to good use. With Unifimoney, the average American can genuinely grow their wealth. But you have to be disciplined and let the app do its job.

5. Best for Getting Started with Investing > Stash

Here’s the deal with this app. It’s both a management and investment tool. However, it’s not comprehensive. That doesn’t mean it’s entirely useless. The app was designed for newbies and greenhorns who have no idea how the world of investment works.

With Stash, even newbie investors can easily purchase stocks and invest in other products. You might be wondering if Stash is one of the best saving tools, as it seems to be tilting towards investment for newbies.

Did you know that Stash is also one of the best personal finance apps for saving? Oh yes! It works as an excellent saving app. The practical budgeting tools on the app ensure you can monitor your finances and have healthy saving habits too.

Here’s the kicker! When you open your Stash account, you’ll automatically have a bank account that Green Dot Bank will manage.

Bottom line – your money is safe with Stash. You get to save and earn extra cash from the investment opportunities on the app.

6. Best for Big Financial Picture and Foreign Currency > PocketSmith

One of the features of this app that captivated us is its ability to predict your financial future based on the information and data it has gathered.

All this app needs to forecast your future finance effectively are your savings, investment, and chequing account. It would also alert you on the possible outcome of some of the financial information.

Here’s the kicker! If you’ve got a foreign account, PocketSmith easily integrates with it so that you can also access and check the balance on your foreign account. The app would present the ratio in the local currency of the foreign country rather than display it in dollars.

7. Best for Cash Flow Management > Simplifi by Quicken

If you’re looking for a much easier method that is effective in expense tracking and helps you organize and control your multiple bank accounts, Simplifi is your best bet. Its specialty is to connect to the numerous account you have across several financial institutions.

As a result, you would have access to certain precise information about your finances. You’ll readily know things like your net worth, your spending habits, and your patterns.

This app helps you attain specific financial goals like buying a house or getting out of debt. But the app won’t influence your credit score.

8. Best for Budgeting > EveryDollar

As a newbie to financial budgeting, you’ve most likely heard a lot of experts scream about how important it is to budget and plan your finances. However, you’ve not gotten down to it because it mostly seems like rocket science to you.

Well, EveryDollar is designed to help businesses simplify the financial planning and budgeting phase.

Using this app is as easy as punching in your monthly income. Then, watch as this app conjures up a practical monthly budget template by giving every Dollar a task to do for the month. It would also help you set spending for the month. You can edit it to include your monthly spending limits.

9. Best for Shared Expenses & Tracking Cash Flow (including Cryptocurrency) > Spendee

Although the average Canadian can’t afford to have a personal finance advisor that renders advice on the best financial decisions users can make with their money, it also tracks where your money goes monthly.

As cash flows in and out of your bank accounts, the Spendee app monitors where the money goes so it can inform you. This way, you’ll be accountable for where your money goes.

With an incoming versus outgoing diagram, Spendee enlightens you on whether or not you’re spending more than you’re earning. Then, it helps you coordinate your spending by granting you the liberty to whip up different spending categories with a budget for each.

10. Best for Budgeting using Envelopes and/or Budgeting Newbies who like watching Tutorials > Mvelopes

This personal finance app, like its name, deploys the envelope technique when it comes to budgeting your income. Here’s what I mean. Your income is split and put into different envelopes that represent a budget category.

For instance, you have ‘envelope’ instead of in other apps where you have budget categories. Hence, there’ll be the ‘hair’ envelope to take care of purchasing wigs and weaves, and there’ll be the ‘gas’ envelope to buy ‘gas’ etc. Meanwhile, the app pre-sets these envelopes.

So, once you link all your accounts, credit cards, etc., to this app, you need to split your income and put them into these different envelopes. Right before you spend your money and after you spend it, Mvelopes stands by you as a friend that never stops encouraging you to manage your income nicely.

11. Best for Money Management > WISMO

The first info you’ll probably find interesting is that WISMO is the acronym for the phrase ‘What I Spent Money On.’ If you don’t like the idea of linking your personal information to a budget app, then WISMO is for you.

It doesn’t require you to link your personal information, bank accounts, credit cards, etc., to the app to help you manage your finances. All you need to do (if you choose not to link your information to WISMO) is add your income and bills to the app. Then, the app carries it into the following months till you make an update.

Regarding tracking your daily spending, you need to take a pic of what you bought and input the amount you spent and voila! Keep at it, and you’ll get a detailed spending report at the end of the day and spending over time.

12. Best for Hands-Off Investors and Tracking Investment, Newbie Investor > Acorns

If you’re part of the younger populace and need to save more and become a passive investor, then Acorns is for you. As a student or young person seeking ways to plan your finances and still make money, Acorns help you save and invest in bits.

You do not need a massive sum of money to invest in this platform. All you need is a small initial amount of money, then a consistent, monthly small amount of money to grow your investment and money.

Another thing- Acorns earn helps you earn on the app. You need to use the credit or debit card linked to your Acorns account at a retailer that’s also a partner retailer with Acorns. Viola, the retailer, would have to invest a small token in your Acorns investment account. It’s that easy. It also has a lot of educational content that earns it a seat on the list of educational tools on the market.

RELATED >> Student Budget Calculator

13. Best for Saving Money on Bills > Trim

The Trim app, Trim Savings or Ask Trim, offers juicy assistance that you probably never thought you needed. Aside from being a regular money management tool, it goes as far as helping you cancel unwanted subscriptions that affect your finances from huge to subtle. It also helps with bill negotiation.

Trust me when I say you’ve probably never seen a sound personal finance tool like this app. With the professional use of Artificial Intelligence, Trim manages your money in ways you never imagined you needed, leaving a broad smile on your face at the end of the day.

Want to know the best part? There are two versions of the app. There is the free version and the premium version that grants you access to more features. It definitely earned its spot as one of the best personal finance apps.

The Bottom Line: Best Personal Finance Apps Canada

Personal finance apps are beneficial, especially in this day and age where it’s becoming increasingly difficult for the average person to manage their money effectively.

As a result, to make the best out of your income, you need to effectively manage it in ways that help you grow your savings and open up opportunities that can improve your finances.

With this list of unique best personal finance apps and a large amount of discipline, you can increase your net worth in no time.

We hope you’ve found this list of personal finance apps helpful! We encourage you to comment below with any suggestions you have.

• Are there any apps or features we may have missed?
• Do these personal finance apps make your life easier?
• What are some best practices for using them effectively?

Let us know in the comments!

>>> Want More? See the Best Personal Finance Software in Canada

AUTHOR

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Charity (Charee) Oisamoje is the founder of TheFinanceKey - TFK. She leads the editorial team, which is comprised of subject-matter experts.

Her professional competencies and expertise make her qualified on this topic. She is an expert at collecting details, verifying facts, and making complex subjects easy to understand.

Backed by Solid Credentials: MBA in Finance Canadian Investment Funds (IFIC) Graduate Masters Degree in International Business Chartered Professional Accountant (CPA) Candidate ✔️Chartered Insurance Professional (CIP) ✔️BSc Accounting

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