Looking for the best app for budgeting in Australia? Whether you want to track your spending, stay on top of bills, save towards goals, or understand exactly where your money is going each month, choosing the right app for budgeting can make a huge difference.
With so many options available, it can be hard to know which budgeting app is actually right for your situation. Some are great for simple expense tracking, while others offer forecasting, investment visibility, and even live tax insights.
In this guide, we compare the best apps for budgeting available to Australians, including TaxTank, PocketSmith, YNAB, and Raiz, so you can find the right fit for your money goals.
What makes a great app for budgeting?
Before choosing an app for budgeting, it helps to know what features actually matter.
The best budgeting apps should help you:
- automatically sync bank transactions
- categorise your spending
- set budgets and savings goals
- track upcoming bills and subscriptions
- forecast your cash flow
- monitor investment and property expenses
- understand the bigger picture of your finances
Best app for budgeting: quick comparison
| App | Best For | Bank Feeds | Forecasting | Tax Visibility |
|---|---|---|---|---|
| TaxTank | Budgeting + tax + investments | Yes | Yes | Yes |
| PocketSmith | Cash flow forecasting | Yes | Yes | No |
| YNAB | Hands-on budgeting | Limited/manual | Limited | No |
| Raiz | Saving + micro investing | Yes | No | No |
| Actual Budget | Self-Hosted Financial Control | Limited/manual | Limited | No |
| Up, Revolut and Other Banking Apps | Built-In Budgeting Tools | Limited | Limited | No |
TaxTank
TaxTank is particularly well suited to Australians who want more than a simple budgeting app.
It combines budgeting, live tax visibility, investment tracking, and property cash flow in one platform, making it ideal for users who want to understand how everyday financial decisions affect their overall position.
Rather than simply tracking expenses, it helps users see their broader financial picture in real time. If your focus is day-to-day cash flow and savings goals, our money management and budgeting tools guide may also help.
This can be especially useful for people managing multiple income sources, investment properties, shares, or sole trader income alongside their personal budget.
Key Features of TaxTank:
- Automatic Tax Calculations: Calculates income tax, deductions, and potential refunds in real time.
- Comprehensive Budgets: Create budgets based on income, spending patterns, LVR, equity and financial goals.
- Live Bank Feeds: Connects seamlessly with all major Australian banks and credit cards.
- Expense Categorisation: Automatically sort spending into categories, including categories linked directly to ATO categories
- Property and Investment Tracking: Monitors shares, ETFs, crypto, and investment property values.
- Financial Forecasting: Predicts cash flow, upcoming bills, and investment growth automatically.
- In-app Chat Support: TaxTank offers AI-powered chat to guide you through onboarding and assist with any issues. Real human agents are available during business hours if you need extra help.
PocketSmith
PocketSmith is a strong option for users who want detailed forecasting and future cash flow planning.
It’s especially useful for people who like visual calendar-based money management and longer-term projections.
The forecasting tools are one of its biggest strengths, making it ideal for users who want to plan upcoming bills, cash flow, and savings goals.
Key PocketSmith Features:
- Multi-year cash flow forecasting.
- Scenario planning for major purchases or unexpected bills.
- Consolidation of multiple bank accounts, loans, and investments.
- Interactive charts and reports to track overspending.
Limitations:
- Does not provide automatic tax calculations.
- Customer support is via email only which can cause delays when issues occur.
YNAB (You Need A Budget)
YNAB is popular for people who prefer a more active, hands-on budgeting method.
It follows a zero-based budgeting approach, which can work well for disciplined users who want to allocate every dollar.
This is a great option for users who enjoy being more involved in their budgeting process.
YNAB Features:
- Zero-based budgeting ensures every dollar has a purpose.
- Customisable categories for personal spending.
- Goal tracking and reporting across multiple devices.
- Manual file import from Australian banks.
Limitations: Requires manual imports and does not automate tax calculations, but it remains a strong choice for disciplined budgeting.
Raiz
Raiz is best suited for users focused on micro-investing and automated round-ups, with lighter budgeting functionality.
It can work well for users who want to build savings habits while investing spare change.
Raiz Features:
- Automatic round-ups for investment portfolios.
- Portfolio tracking for growth-focused and ethical investments.
- Goal setting for holidays, home deposits, or retirement.
- Budget monitoring to identify spending patterns.
- Annual tax summaries for investments.
Limitations:
- Does not automatically calculate tax for other income sources outside investments.
- Budgeting features are limited compared to dedicated apps like TaxTank.
- Investment returns depend on market performance, which can fluctuate.
Limitations: While convenient, these apps do not automate tax calculations or investment tracking like TaxTank.
Actual Budget
Actual Budget is perfect for technically minded Australians who want complete control over their financial data. By hosting it on your own server, you can manage budgets, accounts, and reports securely.
Key Features:
- Self-hosted for full data ownership and privacy.
- Flexible budgeting for complex financial situations.
- Customisable reports and multi-account management.
- Manual or scripted data imports.
Limitations: Requires technical setup and does not provide automated tax or live bank feeds, making it more suitable for advanced users.
Up, Revolut and Other Banking Apps
Up, Revolut and most major banks now integrate budgeting tools directly into banking apps, giving Australians a simple way to track spending while banking.
Bank Features:
- Real-time notifications for all transactions.
- Goal-based budgets for savings, bills, and discretionary spending.
- Spend insights and trend analysis.
- Competitive international transfers.
- Secure login with biometric authentication.
Limitations: While convenient, these apps do not automate tax calculations or investment tracking like TaxTank
How to Choose the Best App for Budgeting in Australia
The best app for budgeting depends on what you need.
If you want simple spend tracking, a lightweight budgeting app may be enough.
If you also want to track tax, property costs, investments, and cash flow in one place, a more complete financial app may be the better choice.
If tax visibility is part of your budgeting decision, it’s also worth comparing dedicated tax software in Australia to see which tools best support your overall financial planning.
Common questions to ask include:
- Do I want automated bank feeds?
- Do I need savings goals?
- Do I want tax visibility?
- Do I need support for Australian accounts?
- Do I want forecasting?
If you’re comparing budgeting tools with broader money management features, you may also want to explore our guide to best personal money management app in Australia.
Best free app for budgeting in Australia
If you’re searching for a free app for budgeting, many apps offer free trials or limited free plans.
The best option depends on whether you only need spending categories or something more advanced.
For users who want to test features before committing, free trials can be a great way to compare different apps.
Frequently asked questions
What is the best app for budgeting in Australia?
The best app for budgeting depends on whether you need simple budgeting, forecasting, or a full financial picture including tax and investments. TaxTank stands out as the only app that includes budgeting, automatic tax calculations, and financial forecasting while providing live bank feeds and investment tracking. TaxTank is one of the most complete options for Australians who want budgeting, tax visibility, and investment tracking in one place.
What budgeting app works with Australian banks?
Apps with Australian Open Banking support are typically best for automatic spend tracking and real-time visibility.
Can I use TaxTank to track investments and property?
Yes. TaxTank allows you to track shares, ETFs, cryptocurrency, and property investments. You can monitor performance, forecast growth, and see your overall wealth in one platform, alongside budgeting and tax automation.
Are there free alternatives to TaxTank?
Apps like Raiz, PocketSmith, YNAB, Actual Budget, Up, and Revolut offer budgeting features, some with free tiers. However, they do not provide the same level of automation for tax, budgeting, and investment tracking as TaxTank.
Can I connect Australian bank accounts to YNAB or Actual Budget?
YNAB requires manual file imports (CSV or OFX) from Australian banks. Actual Budget is self-hosted, so you can script imports if you’re technically skilled. Neither app offers automatic Australian bank feed integration like TaxTank.
Does Raiz calculate my tax automatically?
No. Raiz provides tax summaries for investments, but it does not calculate tax for your other income or expenses. TaxTank remains the only app that automates all tax calculations alongside budgeting.
Can I use TaxTank if I’m self-employed or a property investor?
Absolutely. TaxTank is perfect for sole traders, freelancers, and property investors, as it automatically calculates tax, tracks business and investment finances, and forecasts cash flow.
Is it safe to use budgeting apps in Australia?
Yes, if the app meets Australian privacy and security standards. TaxTank, Up, and Revolut use bank-level encryption and secure authentication. Self-hosted apps like Actual Budget allow complete control over your data, enhancing privacy further.
Final recommendation
If you’re looking for the best app for budgeting in Australia, focus on what you actually need help with.
For simple budgeting, there are plenty of solid options.
For users who want budgeting plus tax, property, investments, and real-time financial visibility, TaxTank offers a broader view of your money in one place.
The right app should help you feel more in control of your finances, not add more admin to your life.
