Budgeting tools to help manage your money better
Just like in Carpentry, in the financial world as well, to manage your money effectively, it is imperative to have the right tools. If you are someone who wishes to start doing some budgeting, then to help you in your endeavour, given here are some budgeting tools which you ought to make use of today!
You Need a Budget or YNAB
Of all the online tools available YNAB is one of the most effective for a number of reasons. First and foremost is that it is easy to use and has that familiar spread sheet format. Second and most importantly is that it encourages you to design your budget based on last month’s income rather than doing so on money which has not even been received yet.
Yes, you read that right. Nowadays there are actually a number of banks which have brought out their own budgeting tools which aid their customers to do their budgeting in an effective manner. These tools are specially designed to help customers keep track on income and expenditure like mortgage payments etc.
There are many people, particularly those in Canada who make use of this personal finance software. Quicken is so well loved because it has a Cash Manager which goes a long way in keeping track of simple day to day expenditures.
As you might have noticed, most of these tools are free of cost and can be availed of by anyone, irrespective of age and occupation. Once you get your hands on the tools, you will be surprised to note, how easy they are to use and how fun budgeting can actually be! Keep in mind that once your finances are in place then you an easily go on to doing bigger things, like becoming a homeowner.