Expense tracking only works if the system you choose is one you'll actually maintain — the "best" method is the one with the lowest friction for your specific habits, not the most feature-rich option.

The Options Available Now

Since Mint's 2024 shutdown, the major automated options are Monarch Money (~$100/year) and YNAB (~$109/year) — both link to your accounts and categorize spending automatically, removing manual entry. For a free option, a simple spreadsheet or your bank's built-in categorization (meaningfully improved since 2024's increased competition) can work if your spending is straightforward enough not to need cross-account aggregation.

The point of failure in expense tracking isn't the tool, it's inconsistency — a free spreadsheet you actually update weekly beats a $100/year app you stop opening after a month. Choose based on your honest likelihood of maintaining the habit, not the tool's feature list.

Someone With Accounts Across Multiple Banks: An aggregating app (Monarch, YNAB) provides value by pulling everything into one view — manual tracking across multiple institutions gets tedious fast.

Someone With Simple, Single-Account Finances: Your bank's built-in categorization or a basic spreadsheet may be entirely sufficient — an aggregating app's value is lower when there's nothing to aggregate.

Set Up Sustainable Tracking

  1. Honestly assess your actual account complexity — multiple institutions or just one or two?
  2. Choose the lowest-friction option for your situation, not the most feature-rich.
  3. Set a specific, recurring time (weekly) to review, regardless of which tool you choose.

See the best personal finance apps for the full current app comparison.