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Best Budgeting Apps for Teens

What budgeting app reigns supreme? Here’s my opinion after using all of them.


You might think that budgeting is only for grown-ups, but, as a teenager, you can’t afford not to budget. Even if you don’t have a job or rent to pay, if you don’t budget your allowance, you might wonder where all your money went before the week’s even over. 

That’s why it’s important to start building good money management habits when you’re young, so you can avoid financial troubles in the future. Lucky for you, we’ve rounded up the top five budgeting apps for teens, to help get you on your way to financial independence and a lifetime of smart money decisions.

Top Five Budgeting Apps for Teenagers

We’re gonna introduce you to our top five budgeting apps made just for teenagers like you. All of these apps have been tested and approved by us. So, just pick your fav and start budgeting! 


Copper isn’t your parents’ banking app. It’s a budgeting app specially designed for teenagers like you. With your needs in mind, this handy tool offers a spending account with no monthly fees, minimum balance requirement, or overdraft fees. Because – let’s be honest – most teens are on a tight budget.

But even when you’re limited on cash, saving for the future should be a priority. With that in mind, Copper also has a feature called “Money Jar” that automatically puts money aside for saving goals. And with FDIC insurance, you can rest assured that your savings and spending money are safe and sound with Copper.

Pros of Copper

  • Designed specifically for teenagers
  • Offers the opportunity to learn about investing and improve your financial knowledge 
  • Spending account with no fees and overdraft fees
  • “Money Jar” feature that helps teens save
  • FDIC insured

Cons of Copper

  • Limited features compared to other budgeting apps
  • There are some limits on withdrawals and spending 

What We Love About Copper

Copper is an excellent tool for teenagers to gain financial independence. It empowers teens to manage their money on their own while teaching them smart financial habits.

Read my Copper review


Don’t know where to begin when it comes to budgeting? Let Monarch guide the way, with its user-friendly interface and customizable features. Easy to use and navigate, Monarch helps you track expenses, set savings goals, and learn valuable money management skills. Everything you need when you’re starting in your personal finance journey.

Pros of Monarch 

  • It automatically tracks and categorizes your expenses 
  • The app promotes smart spending habits 
  • It decreases stress around money 

Cons of Monarch

  • Limited features compared to other budgeting apps

What We Love About Monarch

Monarch understands the unique needs of teenagers and presents budgeting in a way that is both engaging and educational. It’s a great tool for teens to start building smart money habits early on.

Read our Monarch review

You Need a Budget

You Need a Budget (aka YNAB) is a comprehensive budgeting app that focuses on helping users get control of their money. While it’s not specifically designed with teens in mind, it’s the type of tool that grows with you. So, you can start using it while you’re still in high school and be a master of personal finance by the time you’re a young professional. 

YNAB provides in-depth insights into your spending habits, as well as personalized support and educational resources to help you become a finance wizard. It also offers educational resources and personalized support, plus goal-setting features that keep you motivated along the way.

Pros of YNAB

  • Focuses on setting goals for each category, helping you align your spending with your priorities
  • While YNAB helps adults get out of debt, it can help teenagers develop healthy borrowing habits so you avoid debt issues in the future
  • With comprehensive educational workshops and resources, teens can learn and improve their budgeting skills

Cons of YNAB

  • Paid subscription required after the trial period
  • While YNAB offers basic investment tracking features, it may not provide advanced investment analytics that some teens may be interested in

What We Love About YNAB

YNAB empowers teenagers (and people of all ages) to take control of their finances and make informed decisions. It’s perfect for teens to start using when they’re young and continue well after college.

Read our YNAB review


For a straightforward approach to budgeting, check out Toshl. It offers a simple interface to track income, expenses, and view financial insights. 

But if you wanna take it to the next level, Toshl offers additional support – including expense categories and tags. Toshl is an excellent starting point for those who are just beginning their finance journey.

Pros of Toshl

  • You can access your budgeting information across multiple devices, keeping your financial data at your fingertips
  • The app allows you to set budgets, track your income, and expenses
  • You can categorize and tag your expenses, perfect for analyzing your spending patterns and make better financial decisions
  • Visualization tools help you understand your spending patterns

Cons of Toshl

  • Some advanced features require a paid subscription
  • Toshl may display advertisements within the app, which could be a potential downside for those seeking an ad-free experience.

What We Love About Toshl

Toshl simplifies the budgeting process, making it accessible and easy for teenagers to manage their finances. The visualizations and analytical tools provide valuable insights to help teens make better financial decisions.

Toshl made our list of the best teen money management apps, too.


Want to keep your parents in the loop of your money matters? Family financial planning is easy with Greenlight, the budgeting app designed for parents to team up with their teens. 

Your family can customize parental controls, add chore lists, set up allowances, and even invest money. Perfect for teenagers whose finances are still tied to their parents and prefer a collaborative approach to financial responsibility.

Pros of Greenlight 

  • Round up feature is a super simple way to save up money without even realizing it
  • Chore lists and allowance allocation
  • Options for saving and investing money

Cons of Greenlight

  • Requires a subscription for access to all features
  • Greenlight tends to send many emails and notifications, but it can be easily adjusted in settings 

What We Love About Greenlight 

Greenlight combines budgeting with parental involvement, making it a valuable tool for teens like you to ease into financial responsibility. It’s designed with collaboration and guidance in mind, while still giving teens control over their own money.

Read my Greenlight review

Why Teenagers Need Budgeting Apps

Developing smart money habits as a teenager can be the key to your financial success as a grownup. Budgeting apps are great because they help teens understand the importance of setting financial goals, tracking expenses, and making informed spending decisions. 

They make money matters less intimidating, so it’s easy for you to learn how to take control of your finances and prepare for a financially responsible future.

How to Choose the Right Budgeting App for You

When considering a budget app as a teen, you need to make sure the app meets your needs. 

Here are some of the qualities you’ll want to keep in mind when choosing a budgeting app as a teen:

  • Ease of use and user-friendly interface
  • Features tailored to teenagers’ needs, such as goal-setting and educational resources
  • Compatibility with your devices
  • Access to real-time information
  • Security measures to protect your money and personal information
  • Cost of the app, including any subscription or transaction fees

Discover Financial Freedom 

It’s never too early to start taking control of your finances, and with these top five budgeting apps for teens, you’ll be well on your way to financial independence. So, why wait when you can kickstart your financial journey now?

Remember, the trick is using the app that fits your spending habits and your budgeting style. But you won’t know which one is right until you download and give them a try. Before you know it, you’ll be on your way to reaching your goals and ready to achieve financial freedom as an adult!

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About the Author

Lucia Caldera

Lucia Caldera is a writer who specializes in personal finance. Her goal is to create approachable content that sparks financial wellness and unlocks personal growth. Lucia's work reflects her passion for financial education as the key to reducing the wealth gap for future generations.

Last updated on: July 8, 2024