Both can work. The right one is the one you will still be using in three months. Here is a fair look at cost, bank connections, privacy and effort, including the free options.
Written by Alex BPublished 13 November 2026
Money Detective is built around practical household money tools for Australians.
Choose an app if you want your transactions pulled in for you. Choose a spreadsheet if you want to plan each pay yourself and keep your data on your own computer. Many households do best with a free app or tool first and a spreadsheet when they want more control. This guide compares them on what decides it for most Australian households, including the free options, because one of them may be all you need.
Money Detective sells Excel spreadsheets, so I have a view. I have tried to be fair about where an app is the better choice.
Most budgeting apps follow one of two approaches:
The big drawcard of a bank-linked app is that you do very little typing. The trade-off is that your transaction data is shared with a third party, so you need to be comfortable with that.
A spreadsheet lives in a file on your computer. You type in your pay, your bills and what you spend, and formulas do the sums. Nothing is linked to your bank unless you copy figures across yourself, so you are in charge of what goes in, and nobody else holds your data.
The trade-off is effort. If you want your actual spending in the sheet, you either type it or paste rows from your statement.
| What matters | Budgeting app | Excel spreadsheet |
|---|---|---|
| Getting your transactions in | Often automatic if it links to your bank | You type, or paste rows from your statement |
| Cost | Free to subscription, depending on the app | Free templates exist, or a one-off purchase |
| Your bank data | Shared with the app provider if you link accounts | Stays in your own file |
| On your phone | Usually, with reminders | Possible with Excel on a phone, but easier on a computer |
| Setting it up your way | Limited to what the app allows | Change anything you like |
| If you stop paying | Access may end with the subscription | You keep the file |
| Learning curve | Usually quick | Depends how comfortable you are with Excel |
Prices change, so check before you decide. These were checked on 13 November 2026:
| Option | Year 1 | 3 years in total |
|---|---|---|
| Moneysmart budget planner | $0 | $0 |
| Frollo | $0 | $0 |
| Free Fortnightly Budget | $0 | $0 |
| Fortnightly Budget Plus (one-off) | $12.95 | $12.95 |
| YNAB (annual plan, US dollars, before tax and conversion) | US$109 | US$327 |
Over a few years a subscription adds up and a one-off purchase does not, but that only matters if you would otherwise use the app for years. A free tool that suits you beats either.
If a bank connection makes you uneasy, a spreadsheet avoids the question completely, because there is nothing to connect. If it does not bother you, the Consumer Data Right gives you rules to lean on: you choose to share, only accredited providers can receive the data, and you can withdraw your consent. Either is a reasonable choice. It is about what you are comfortable with.
The Money Detective spreadsheets do not connect to your bank. You enter your figures, or paste rows from your own statement. How our tools work explains where your numbers go.
You do not have to choose forever. Plenty of people try an app first, then move to a spreadsheet, or the other way around. If you want to try a spreadsheet at no cost, start with Moneysmart's planner or the Free Fortnightly Budget. It is an Excel template with four pay cycles, 23 categories and planned vs actual for each one. You type your own amounts, and there is no bank login.
A done-for-you shortcut: if you want a spreadsheet that sorts transactions for you, Fortnightly Budget Plus has an optional import where you paste rows from your bank statement, and they sort into your categories. Payday Buffer is built around a different question: what is safe to spend before your next payday. Both are Excel workbooks and nothing connects to your bank.
Not sure which one? Which budget spreadsheet suits you? compares the options side by side.
It can be at first, because you set up more yourself. A ready-made template removes most of that, and you only fill in the yellow boxes or whichever cells it asks for.
In Australia, Open Banking runs under the Consumer Data Right, which sets rules for accredited providers and gives you control over your consent. Safety still depends on the app, so read how it handles your data before you link anything.
Yes. Some people use an app to see transactions and a spreadsheet to plan each pay. Just make sure you are not entering the same thing in two places.
This article provides general information only. It does not take into account your personal objectives, financial situation or needs, and it is not financial advice. Examples use invented figures. Money Detective's tools provide estimates and planning information. Consider your own circumstances, and seek independent advice if you need it, before making financial decisions.