Budgeting apps are everywhere, and for good reason. They promise to help you track spending, reduce waste, and gain control over your finances. But what most users don’t realize is that many of these tools have a business model that doesn’t rely on your subscription fee. It relies on you. Or more specifically, your data.
From your purchase habits to your financial goals, budget apps collect a surprisingly intimate profile of your life. And in many cases, they turn around and sell that information to advertisers, data brokers, or even financial institutions looking to target you.
