Best Budget Apps for Paying Off Student Loans

When a student loan payment shows up every month, a budget stops being a nice idea and starts being the thing that keeps you from coming up short. The right app makes that a lot less painful.

Below is what each app costs, who it suits, and how to build a budget around a loan payment.

Short version: most people do fine with a free one.

The best budget apps, side by side

1. YNAB: best if you want to plan every dollar

You Need a Budget (everyone calls it YNAB) has one rule: give every dollar a job before you spend it.

So you don’t budget money you hope to make next month, you budget the money that’s sitting in your account right now, and when a paycheck lands you hand out those dollars until there’s nothing left unassigned.

That fits a loan payment really well. The payment gets its dollars first, then everything else splits up what’s left. If you want to send extra to your loans, you plan that too, so it doesn’t get eaten by takeout.

It costs $14.99 a month or $109 a year after a 34-day free trial. College students get a 365-day free trial, which is a nice perk if you’re still in school and starting to plan for repayment.

It takes some setup and a few weeks to click, and if you want an app that does everything on its own, this isn’t it. Try YNAB

2. EveryDollar: best simple zero-based budget

EveryDollar is a zero-based budget, which just means income minus everything you plan to spend comes out to zero. The free version lets you use it as long as you want, but you type in your spending yourself.

Premium connects your bank so transactions stream in on their own. It’s $17.99 a month or $79.99 a year, so if you want it, the yearly plan is the one to pick, and new users get a 14-day free trial to see if the bank sync is worth it to them.

Honestly, the free version is plenty for a lot of people.

3. Goodbudget: best for envelope budgeting

Goodbudget is the digital version of cash envelopes. You fill envelopes like Rent, Groceries and Student Loans when you get paid, then spend from them.

The free plan gives you 10 regular envelopes plus 10 more, one account, two devices and a year of history. Premium is $10 a month or $80 a year.

You’ll enter most spending by hand.

Some people actually like that, because typing in a $14 lunch makes you notice it in a way a bank feed never will.

4. Monarch: best for seeing everything in one place

Monarch links your checking, cards, loans and investments and shows them all on one screen, with budgets and goals on top. It works on iPhone, Android and the web.

There’s no free plan. It’s $14.99 a month or $99.99 a year, and Monarch gives you the first week free to try it.

If you’re paying down loans and saving for a car or a move at the same time, seeing both on one screen is what you’re paying for.

5. Rocket Money: best for cutting subscriptions

Rocket Money (it used to be called Truebill) is known for finding the subscriptions you forgot about. The free plan includes basic budgeting and spending tracking.

Premium is pay what you think is fair, typically between $7 and $14 a month. It adds unlimited budgets, net worth tracking and a concierge that cancels subscriptions for you.

Find two you don’t use and that money can go straight to your loans.

6. Credit Karma: best free option, and where Mint went

If you used Mint, you’ve probably noticed it’s gone. Intuit says Mint “has been reimagined on Credit Karma”, and the spending and net worth tracking moved there.

Credit Karma is free. Link your accounts and it shows where your money goes each month, next to your credit score.

It’s not a full budget, though.

A budget that fits a loan payment

Here’s a simple way to set one up, whatever app you pick.

Start with what actually hits your account, not your salary.

1. Write down your monthly take-home pay.
2. Put your student loan payment in first, right after rent. Treat it like rent. It’s due no matter what kind of month you had.
3. Add the other fixed bills: utilities, car, insurance, phone.
4. Set aside a small amount for emergencies, even $25 a paycheck.
5. Split what’s left between groceries, gas and everything else. Anything you don’t need goes to extra loan payments.

What if the loan payment doesn’t fit at all? Then the budget isn’t the problem. If you have federal loans, an income-driven plan may lower the payment. Check what it would be with our RAP calculator.

And if the budget is tight no matter what, the other lever is income. Our list of ways to make extra money for your loans covers the realistic options.

Do you even need a budget app?

Honestly, no.

A spreadsheet with your income at the top and your bills underneath works just as well if you’ll keep it up, and it costs nothing. The apps earn their price when they save you time or catch spending you’d miss.

Bottom line: if you want to be hands-on, try YNAB or EveryDollar. If you want it automatic, try Monarch or Rocket Money. If you want free, start with Goodbudget or Credit Karma. Just remember, managing your money doesn’t have to be painful, and a budget you check once a week beats a perfect one you never open.

Common questions about budget apps