5 Best Mobile Apps for Budgeting in India

Last Updated on April 26, 2026 by Hemant Beniwal

One of my clients – a senior executive at a Jaipur manufacturing company – showed me his phone last year. He had 23 apps installed. Not one was a budgeting app.

“I know what I spend,” he said. “Roughly.”

He was surprised to discover he was spending Rs.18,000 a month on food delivery alone. He thought it was Rs.8,000. That Rs.10,000 monthly gap – compounded over 15 years at 12% – becomes Rs.50 lakh of retirement corpus. “Roughly” is expensive.

Why budgeting comes before investing

I tell every new client the same thing: “We cannot build a financial plan until we know your actual cash flows – not what you think they are, but what they actually are.”

Most people overestimate how much they save and underestimate how much they spend. The gap is usually in subscriptions forgotten, food delivery that feels small per order, and lifestyle expenses that grew gradually with income. A budgeting app closes this gap with data.

The other benefit is psychological. Seeing a category hit its limit mid-month changes behaviour without any lecturing – just data. Most people are genuinely surprised by their own spending patterns when they see it in a chart.

What changed since 2019

The big change is UPI. With UPI now handling over 10 billion transactions monthly in India, most apps can auto-capture UPI payments from SMS or bank statements. You no longer need to remember to log each transaction manually.

The second change is the Account Aggregator (AA) framework – an RBI-regulated system that allows apps to access your bank transaction data with read-only permission you grant and can revoke. This is far safer than the old method of sharing net banking credentials.

The third change is that investment aggregator apps (INDMoney, Fi Money, Groww) now include budgeting – so spending, investments, and net worth are visible in one place.

Best budgeting apps in India – 2026

1. INDMoney – best for complete financial overview

INDMoney started as an investment aggregator and added budgeting as a feature. It connects to bank accounts, credit cards, and investment accounts via the AA framework to give a complete financial picture.

Best for: Investors who want to track spending alongside mutual funds, stocks, and EPF in one place.

Key features: Automatic transaction categorisation, net worth tracker, mutual fund and EPF tracking, credit score monitoring, subscription detection.

Cost: Free for basic features. Premium for advanced analytics.

Limitation: Budgeting is a secondary feature – investment tracking is the primary focus. Not as granular as dedicated budgeting apps.

2. Fi Money – best for automatic UPI and bank tracking

Fi began as a neobank but now works with any bank through the AA framework. Its spending analysis auto-categorises transactions and identifies recurring subscriptions without manual entry.

Best for: People who want automatic tracking with minimal effort.

Key features: Automatic transaction import, smart categorisation, subscription tracking, savings goal setting, spending insights and trends.

Cost: Free with Fi account; limited multi-bank features without Fi.

Limitation: Works best for Fi banking customers. Multi-bank aggregation is available but less seamless than with a dedicated Fi account.

3. Perfios – best for multi-bank comprehensive tracking

Perfios is one of India’s oldest personal finance platforms. It pulls data from multiple banks via bank statement upload or net banking connection, and categorises transactions including EMIs, investments, and expenses.

Best for: People with multiple bank accounts and credit cards who want everything consolidated. Also good preparation before a financial planning review.

Key features: Multi-bank aggregation, comprehensive expense categorisation, income vs expense tracking, tax-related reporting.

Cost: Free basic, paid premium.

Limitation: Interface feels less modern. Primarily desktop-first, though mobile app is available.

4. Monefy – best for mindful manual tracking

Monefy is the minimalist option. You log each expense manually in a few taps – category, amount, done. The visual pie interface makes spending patterns immediately obvious. No bank linking, no automatic import.

Best for: People who prefer conscious, manual tracking where logging each expense itself creates awareness. Good for those who prefer not to link bank accounts to apps.

Key features: Very quick manual entry, visual spending distribution, Google Drive or Dropbox sync, Face ID and Touch ID security.

Cost: Free basic; one-time purchase for cloud sync and multiple currency features.

Limitation: Fully manual – no automatic import. Requires consistent discipline to update after every transaction.

5. Spendee – best for couples tracking together

Spendee supports shared wallets – useful for couples tracking household expenses together. It also connects to bank accounts for automatic import.

Best for: Couples or families who want a shared view of household spending.

Key features: Shared wallets, bank connection, budget limits by category, visual reports, multi-currency support.

Cost: Free basic; subscription for shared wallets and bank connection features.

Limitation: Free version is quite limited – most useful features require the subscription.

What happened to Walnut?

Walnut was the most recommended Indian budgeting app until 2020. It was acquired by PayTM in 2021 and subsequently shut down. The standalone app is no longer available. If you still have it installed, you should switch to an alternative – INDMoney or Monefy are the closest replacements depending on whether you prefer automatic or manual tracking.

Three questions before you choose

How much effort will you actually put in? Disciplined manual tracking with Monefy builds better financial awareness than automatic import you never look at. But if you are consistently busy, automatic import you check weekly is better than a perfect app you abandon in two weeks.

Are you comfortable linking your bank? AA-framework apps (read-only access, revocable at any time) are safer than older apps requiring full net banking credentials. This is a legitimate concern – manual apps like Monefy are a completely valid alternative.

Standalone or integrated? If you just want expense tracking, Monefy is simpler. If you want budgeting with investments and net worth, INDMoney or Perfios make more sense.

Also read: Budgeting: The First Step to Financial Success

Frequently asked questions

Which budgeting app are you using, and what works or doesn’t work for you? If you track expenses in a spreadsheet instead, share that – some of the most disciplined budgeters I know use Google Sheets.