In the modern world, everything revolves around technology. While smartphones and other devices can make everyday life much easier, they can complicate things. This is especially true when it comes to finances. Thankfully, there are plenty of great options for users looking to organize their spending habits and bills. As with any software program, there are some issues that crop up time and time again. There are several common problems that users experience when using these budgeting apps. This article will discuss some of the most common problems and disadvantages people have while using budgeting apps and how you can overcome those difficulties if you’re also planning to use budgeting apps in your daily life.
This article will be particularly valuable if you are exploring the option of using a budgeting app and seeking a comprehensive understanding, including the less discussed aspects. While most resources tend to highlight only the advantages, my focus here is solely on the disadvantages, offering a unique perspective essential for making a fully informed decision.
Many budgeting apps feel non-intuitive
Even though most budgeting apps are designed with the user in mind, because there are so many workflows and approaches to managing your finances, many fail to appeal to a larger audience. Budgeting can be a complex task, and it can be difficult to design an app that is both easy to use and effective at helping people manage their finances.
Budgeting apps can definitely have a learning curve – after all, you’re trying to learn a new way to manage your finances! Depending on the app, there may be a lot of features and functionality to learn to get the most out of it. But there are ways to make the learning curve a little less steep. First, try to find an app with good reviews recommended by people you trust. Second, take some time to watch tutorials or read articles about how to use the app before you dive in. Finally, be patient with yourself – it takes time to learn anything new, so don’t get too frustrated if you don’t get the hang of it immediately.
There are also external reasons that may influence how people perceive these budgeting apps. People are generally bad at estimating their expenses and often underestimate how much they spend in a given month. And they might easily put the blame on the tool instead of their awareness and skill.
It has certain features that annoy me!
Budgeting apps can have a lot of features that annoy people. For example, some apps have ads that can be intrusive, while others may have in-app purchases that people find annoying. Some apps require users to input every purchase, which can be tedious. Another example worth mentioning is that some apps have a lot of fine print and small print that can be confusing to read. Here are a few more potential annoyances that budgeting apps might include:
- Limited customization options
- Lack of flexibility
- Inflexible budget categories
- Difficult-to-use interface
- Lack of comprehensive features
While not everyone considers these issues drawbacks, and some may even find them preferable, they certainly highlight some disadvantages of budgeting apps. It ultimately depends on individual preferences and needs.
They could use better tutorials and better help sections
When trying out budgeting apps, a potential disadvantage is the inadequacy of help sections or tutorials. In general, most budgeting apps offer some form of help section or tutorial to help users get started. But it looks like they don’t do a great job at it. For example, some of the reviews for YNAB reviews are mixed; some people complain about not having enough tutorials or help information, while others praise it for the great help section. The community is also very active and helpful, so you can always find answers to your questions there.
The push notifications are pushy or not working properly!
Budgeting apps (and generally mobile apps) have a notorious problem with how they handle notifications. On one hand, notifications can be helpful in reminding users to stay on track with their budgets. On the other hand, notifications can be overwhelming and cause users to abandon the app altogether. The key is to find a balance with notifications. Some budgeting apps allow users to customize their notifications, which can be helpful. Others include a few basic notifications, such as a daily or weekly summary.
There is some debate on whether or not budgeting app notifications are annoying. Some people find them helpful in keeping track of their spending and staying on budget, while others find the constant reminders to be intrusive and disruptive.
A few budgeting apps have been known to have annoying notifications. Some users have complained about apps like Mint and Goodbudget sending too many notifications, which can be frustrating. There are also a few reports of YNAB (You Need a Budget) sending notifications for every little thing, which can be overwhelming.
A notable disadvantage of some budgeting apps, such as Mint and Goodbudget, is the unreliability of their notifications and alerts. Despite Mint’s popularity, many users have expressed dissatisfaction with its inconsistent alerts, which are crucial for effective budget management. Similarly, Goodbudget has faced complaints about the unreliability of its notifications. This issue underscores a critical aspect where these apps may fall short, impacting the overall user experience and the app’s effectiveness in helping users stay informed about their financial activities.
They can have bad customer service
Budgeting apps generally tend to have good customer service, as they understand the importance of providing timely and helpful assistance to their users. But this is not true for all the apps out there, let’s take some examples:
Mint is a great option for those seeking a budgeting app with excellent customer service, offering 24/7 support and a user-friendly interface. YNAB also stands out with email, chat, or phone support. EveryDollar follows suit with efficient service through email or phone. In comparison, as highlighted in my review of Rocket Money, it boasts exemplary customer support. However, it’s important to note that RocketMoney offers its support exclusively through email, catering to users who prefer digital communication for handling their queries and support needs.
In analyzing customer support for various apps, it’s important to tread carefully as there can be some shady areas, much like what I uncovered in my Acorns review for investing. During that review, I detailed an entire saga concerning their customer support and how their public reviews are manipulated by malicious intent to look bad. Despite these issues, it’s crucial to note that, in reality, Acorns’ customer support is actually quite good.
But If we take a look at some customer reviews of GasBuddy, it seems that many people are not happy with the level of service they have received. Complaints include long wait times, unhelpful staff, and difficulty getting refunds or credits. It’s possible that GasBuddy has improved its customer service since these reviews were written, but it’s also possible that the company is still struggling in this area. If you’re considering using GasBuddy, it might be worth researching whether recent customers have had positive or negative experiences.
As you explore the disadvantages of budgeting apps, it’s important to know that not all apps offer the level of customer support you might expect. While apps like Mint and YNAB provide robust support, others may not meet these standards. You might encounter issues such as slow response times, limited support options, and a lack of personalized help. These drawbacks can significantly affect your experience, especially when timely and accurate support is crucial for managing your finances. Therefore, as you weigh your options, consider these potential disadvantages to ensure your chosen app aligns with your needs for effective financial management.
They sell user info to third-party companies
A few budgeting apps sell user information, although most do not. The ones that do typically sell it to advertisers so that they can target ads more effectively. The sold information is usually anonymous and cannot be traced back to individual users. However, some budgeting apps may sell more personal information, such as names and addresses, to third-party companies.
Some budgeting apps, like Mint and You Need a Budget (YNAB), sell user information. Both of these apps have been known to sell user information to third-party companies, which means that your personal financial information could be at risk if you use either of these apps.
Mint has been known to sell user information to companies like Experian and Equifax, which are both credit reporting agencies. This means that if you use Mint, your personal financial information could be shared with these companies. YNAB, on the other hand, has sold user information to companies like Google and Amazon.
If you are concerned about sharing your personal information with third-party companies, you may consider using a different budgeting app that does not sell user information. There are a number of different apps to choose from, so you should be able to find one that meets your needs. This practice has been scrutinized in recent years as it raises privacy concerns. Some users have even deleted their Mint accounts due to these concerns.
In considering the disadvantages of budgeting apps, it’s crucial to address the issue of data privacy. Some apps, including popular ones like Mint and YNAB, have been known to sell user information to third parties such as Experian, Equifax, Google, and Amazon. This means your personal financial data might be shared with these companies, posing a risk to your privacy. While the sold data is often anonymous, there are instances where more personal details are involved. If privacy is a major concern for you, exploring other budgeting apps that prioritize user data protection is advisable.
You might not be able to close your account easily
Most budgeting apps allow you to close your account easily. But this is not always the case. Many people complain in reviews for many apps about being charged after they close their account or cancel their subscription. You should know this before you commit to an app for the long term.
Some apps make it easy to cancel by allowing you to do it directly from the app, while others may require contacting customer support. Additionally, some apps may charge a cancellation fee, so be sure to check the terms and conditions before signing up for a budgeting app.
Diving deeper into the disadvantages of budgeting apps, a significant concern lies in the process of account closure and cancellation. Many users have reported being charged even after closing their accounts or canceling subscriptions, a frustrating experience that raises questions about the transparency of these apps. While some apps facilitate easy cancellation directly through the app, others require contacting customer support, which can be cumbersome. Additionally, be aware of potential cancellation fees. Before committing to any budgeting app for the long term, it’s essential to understand these aspects and carefully review the terms and conditions to avoid any unpleasant surprises.
Explore alternatives
You might consider alternatives beyond budgeting apps as you explore different ways to manage your finances. This includes sophisticated personal finance software and versatile spreadsheets. You might also find value in the best physical budget planners. These planners offer a tangible, hands-on method for tracking your expenses and can provide a clear, visual approach to your financial planning, blending traditional pen-and-paper methods with effective organization.
Final words:
It’s difficult to say whether budgeting apps help more than hurt because it depends on the person using them. Some people find that budgeting apps are extremely helpful in managing their finances and staying on track, while others find that they’re more of a hindrance than a help. Ultimately, it comes down to personal preference and what works best for the individual.