What to look for in a budgeting app (an honest checklist)

Start with how data gets in

If entering transactions is painful, you will stop after two weeks. Look for statement import that categorises for you, and the ability to correct a category once so it sticks next time.

The twelve-point checklist

1. Imports bank statements or connects to your bank 2. Categorises automatically and learns your corrections 3. Every entry is editable and deletable — including past ones 4. Handles recurring charges and instalment plans 5. Tracks debts with interest rates, not just balances 6. Shows credit utilisation, not only a balance 7. Supports irregular income 8. Has sinking funds or named savings pots 9. Works properly on a phone 10. Exports your data whenever you want 11. Clear privacy stance and account deletion 12. Usable without a two-week setup

Red flags

• No way to edit a past entry - Data locked in with no export - Bank connection required just to try it - Aggressive upsells before you have seen a single number

Connected vs manual

Bank connections are convenient but not universal. The most reliable setups allow both — connect where it works, import a statement or add a row where it does not.

Try before you commit

Run a real month through any app before paying. If it cannot answer "what is due before pay day" and "how much of this card limit am I using", it is a spreadsheet with a nicer font.

How MoneyQuilt scores

Statement import with AI categorising, fully editable history, debt and credit utilisation tracking, sinking funds, export and delete on request. See the feature list or compare it with YNAB.