I've not used Exodus, but if it's on your phone, it's not cold. If you want a budget friendly solution, you can't beat free - sparrow and paper.

There are downsides to every setup, and the basic idea is to match the level of protection with the risk. Spending 300,000 sats on a nice Coldcard Q1 is perhaps excessive to protect 15,000 sats, but is cheap to protect 150M sats.

I keep an amount of sats in a phone wallet (kinda - I use zeus which connects to my self-custody node, but it's fully accessible on my phone), for ease of spending. But I also know that if my phone were to be stolen, those sats might be at some risk of loss.