I still remember the excitement of my first salary. A few days later, I was treating my friends to pizza, ordering late-night Zomato, and buying things I didn’t even need on Amazon. By the 20th of the month, my account balance was nearly zero.
Sounds familiar? 🤔
This is the story of almost every millennial in India when they start earning.
Managing money isn’t about earning more—it’s about budgeting smart. And thankfully, we live in a time where budgeting doesn’t need pen-and-paper or messy Excel sheets. With the right apps, you can track your spending, save more, and build financial discipline without much effort.
That’s why I’ve put together this detailed guide on the best budgeting apps for Indian millennials in 2025. These are not just apps, they’re tools that can help you take control of your financial journey.
👉 If you haven’t yet, I highly recommend checking my pillar guide: Smart Budgeting for Young Professionals in India where I’ve shared complete strategies to build financial stability.
Now, let’s dive into the apps that can make your budgeting journey easier.
1. Walnut – India’s Most Loved Expense Tracker
If you’re someone who hates typing in every transaction manually, Walnut is for you.
- 📱 It automatically reads your SMS notifications (like bank debit/credit messages, UPI spends, bill payments) and creates a spending log.
- 🔔 Sends reminders for upcoming bills so you never miss a due date.
- 📊 Monthly reports show where most of your money goes—food, shopping, rent, or travel.
💡 Personal Experience: When I used Walnut, I was shocked to see how much I spent on online food orders. Once I saw the chart, I consciously cut down, and within 2 months, I saved almost ₹3,000.
👉 Best for: Salaried millennials who want automation and bill reminders.
👉 Download Walnut from Play Store
2. ET Money – Budget + Investment Tracker
Budgeting is not just about saving—it’s also about investing smartly. ET Money gives you both in one app.
- 📈 Tracks your expenses and categorizes them automatically.
- 💸 Helps you start SIPs, buy insurance, and even manage mutual funds.
- 🔐 Highly secure and easy to use.
💡 Personal Experience: ET Money was the first app that introduced me to SIPs. The expense insights + investment tracking gave me a holistic view of money.
👉 Best for: Millennials who want both budgeting and wealth-building click here to download.
👉 If you’re new to SIPs, check this guide: Understanding SIPs: A Beginner’s Guide
3. Goodbudget – The Envelope System Goes Digital
If you’ve heard your parents say, “We used to keep money in envelopes for rent, food, travel”—that’s exactly what Goodbudget does in digital form.
- 💡 You assign money to different categories (“envelopes”).
- 🚦 Once the envelope is empty, you stop spending in that category.
- ✅ Great for self-control and avoiding impulse purchases.
💡 My Learning: When I started using Goodbudget, I realized my “entertainment” envelope was always getting over first. That made me rethink my priorities.
👉 Best for: People who overspend on lifestyle and want control. click here to download
4. Paytm Money Manager / Bajaj Wallet Features
Digital wallets are not just for UPI payments—they’ve also started adding budgeting tools.
- Paytm shows monthly expense patterns.
- Bajaj Wallet gives insights on bill payments, loans, and spending.
👉 Best for: Millennials who already use Paytm daily for UPI, shopping, or bills. click here to download
5. YNAB (You Need A Budget) – For the Disciplined Ones
Although not India-specific, YNAB is loved worldwide for its “zero-based budgeting”.
- 📝 Every rupee you earn is assigned a job (rent, bills, savings, investments).
- ⏳ Forces you to live within limits.
- 💳 Best for people serious about financial control.
💡 Note: It’s a paid app, but if you’re someone looking for advanced budgeting, it’s worth considering. Download
How to Choose the Right App for You
Here’s a simple breakdown:
- ✅ Want automation? → Go with Walnut
- ✅ Want budget + investments? → ET Money
- ✅ Want strict spending control? → Goodbudget
- ✅ Already use Paytm a lot? → Use Paytm Money Manager
- ✅ Want premium features? → YNAB
FAQs
Q1. What is the best free budgeting app in India for millennials?
Walnut and ET Money are among the best free apps with automatic tracking features.
Q2. Do budgeting apps really help?
Yes. Once you see where your money goes, it becomes easier to cut unnecessary spending.
Q3. Are budgeting apps safe to use in India?
Apps like ET Money and Walnut are encrypted and widely trusted. Always download from official stores.
Q4. Which budgeting app also helps in investing?
ET Money is the best option if you want to budget and also start SIPs or mutual funds.
Q5. Can I just use Excel instead of apps?
Yes, but Excel is manual and time-consuming. Apps automate the process and give reminders.
Conclusion
Budgeting apps are not about restrictions, they’re about awareness. For millennials in India, where lifestyle temptations are endless, having a smart budgeting app can make the difference between being broke and building wealth.
Personally, Walnut helped me track unnecessary food orders, ET Money taught me about SIPs, and Goodbudget made me rethink my entertainment spends.
The best budgeting app is the one you stick to consistently. Start today, track for a month, and see how your savings grow.
🚀 Remember, small steps now = financial freedom tomorrow.
👉 If you want a complete strategy, not just apps, read my full guide here: Smart Budgeting for Young Professionals in India.
