By Daniel Da Silva · Engineering and Project Management professional and dad · Last reviewed: May 2026 · Disclosure
Every article on budgeting apps starts the same way: a list of apps with star ratings, affiliate links, and a conclusion that YNAB will change your life.
Here is a different take. I am an engineer. I went straight to Excel when we had our first child and started managing a single-income household. I never downloaded a budgeting app. That choice has worked well for me, but it is not the right choice for everyone.
This post covers when a spreadsheet is the better option, when an app genuinely makes sense, and which apps are worth your money if you decide to go that route.
The honest answer for single-income families
A single-income family budget has a specific problem: the margin is thin. When one salary covers everything, every category matters, and you cannot afford to lose track of where the money went mid-month.
The tool that solves that problem is not necessarily an app. It is whatever system you will actually use consistently. A $15/month app you check twice a year does nothing. A spreadsheet you open every Sunday does everything.
Why I use Excel
Two reasons, both practical.
First, it is free. YNAB costs $109/year. Monarch Money costs $100/year. On a single income, that is not nothing. Excel is already installed, or Google Sheets is free and does the same job.
Second, I am comfortable with spreadsheets. I build models at work. Setting up a household budget tracker took me about two hours and I have not had to relearn it since. The structure is exactly what I need, nothing more.
My setup is simple: one sheet with income at the top, fixed expenses below, variable categories with monthly targets, and a running total at the bottom. I update it once a week by entering transactions manually. That manual entry is a feature, not a bug. It keeps me aware of every dollar.
When an app actually makes sense
Spreadsheets are not for everyone. An app is the better choice if:
- You and your spouse both need visibility. A shared app syncs automatically. A shared spreadsheet requires both people to enter data, which rarely happens in practice.
- You want automatic bank sync. Manual entry works if you are disciplined. If you are not, an app that pulls transactions automatically is more likely to give you accurate numbers.
- You are not comfortable building a spreadsheet. A good app is better than a half-built spreadsheet you do not trust.
- You want to track investments alongside the budget. Some apps do this well. Excel can too, but it takes more setup.
The apps worth considering for a single-income family
YNAB (You Need A Budget)
The strongest option for families with a tight margin. YNAB uses a zero-based budgeting method: every dollar gets assigned a job before you spend it. This works well when income is fixed and predictable, which is exactly the single-income situation.
The learning curve is real. Plan for a few weeks before it clicks. Cost: $109/year or $14.99/month.
Monarch Money
The best option if you want a clean shared view for two people. It syncs bank accounts, tracks net worth, and has a clear household dashboard. Less opinionated than YNAB, which some families prefer.
Cost: $99.99/year.
Try Monarch Money free for 7 days
Empower (formerly Personal Capital)
Free. Strong on investment tracking alongside basic budgeting. Not the best for granular monthly expense management, but useful if you want one dashboard for budget and retirement accounts.
EveryDollar
Dave Ramsey's app. Uses zero-based budgeting like YNAB. The free version requires manual entry. The paid version adds bank sync. A good fit if you follow the Ramsey approach to debt payoff.
What to look for regardless of which tool you use
Whether you use an app or a spreadsheet, the system needs to do four things reliably:
- Show you the monthly number for every category before you spend. Not after. Knowing you have $400 left in groceries on the 15th changes behavior. Knowing you overspent on the 31st does not.
- Separate fixed and variable expenses clearly. Fixed expenses (mortgage, insurance, loan payments) are not negotiable month to month. Variable expenses (food, gas, entertainment) are where you actually have control.
- Track irregular expenses. Car registration, annual insurance premiums, Christmas, back to school. These are predictable but not monthly. Divide the annual cost by 12 and set that amount aside each month as a separate category.
- Be simple enough that you actually use it. The perfect system you abandon in February is worse than the imperfect one you use all year.
My honest recommendation
If you are comfortable with spreadsheets: build one. Keep it simple, update it weekly, and put the $100/year you saved toward the budget itself.
If you are not comfortable with spreadsheets, or you need a shared system that works without both partners manually entering data: use YNAB. The zero-based method is the right approach for a single-income family with tight margins, and the 34-day free trial is enough time to know if it works for you.
Frequently asked questions
Is YNAB worth it on a single income?
If it replaces even one month of overspending in a category you did not track, it has paid for itself. The question is whether you will use it consistently. The free trial answers that.
Can Google Sheets replace Excel for budgeting?
Yes, completely. Google Sheets is free, works on any device, and shares easily between two people. I use Excel because I already have it. If I were starting fresh, I would use Google Sheets.
What happened to Mint?
Mint shut down in March 2024. If you were a Mint user, Monarch Money is the most direct replacement.
How do you budget for irregular income as a single-income household?
Budget to your lowest expected monthly income, not your average. Anything above that goes to a buffer account first. This is harder to implement in a spreadsheet than in YNAB, which was designed specifically for variable income.
Disclosure: This post contains affiliate links for YNAB and Monarch Money. If you sign up through my links I may earn a commission at no extra cost to you. I personally use Excel and have not paid for either app. I am not a licensed financial advisor.
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