You probably think - "how can I save money if I don't have enough to survive a month". First step is cut the costs and unpaid debts. Later we will try to help you make more money to give you extra bust for financial stability.
Do you think that budgeting takes time and it is hard, daunting task? Think again!
Thanks to modern technology budgeting is simple and so rewarding. There are so many great apps to help sort out your personal finances. If you still prefer the pen and paper way that is fine. Here you can find free PDF files which you can download and print. (www.printablepaper.net/category/budgets). You will be ready to work on your budget in no time.
First lets establish why it is so important to budget.
Building a budget forces you to take a close look at your spending habits. It will help you manage your debt and should allow you to make savings. You probably think - "how can I save money if I don't have enough to survive a month" That is good. It means 100% that you need to have a budget to get your finances back on track. Soon you may notice that you're spending money on things you don't need. Budgeting allows you to rethink your spending habits and re-focus your financial goals. The first step is to cut the costs and unpaid debts. Later we will try to help you make more money to give you extra boost for financial stability.
"Time is money" we all know it. We decided to propose a couple of apps which should speed up the budgeting process and make it more automatic for every month and they are worth your attention:
1. Mint
This option is free and in our opinion the best in the market at the moment. Owned by Intuit, the same company that makes Quickbooks. It comes with a wide range of features, but its most useful has always been its budget tools. Mint automatically categorizes transactions from linked credit and debit cards and tracks them against a budget you can tweak and customize to your needs. It can help you with tracking your credit score too. Check it out.
2. YNAB
This is our second best choice only because it is free for first 34 days. After that it cost $6,99 which is about £6,00. I would chose this as my app but we are looking to cut our spending so you might want to go for the first option. Rather than relying on traditional budgeting, you build your budget based on your income, giving every dollar a job in your budget. Those jobs include everything from living expenses to debt payments to savings and investments. Leaving no dollar unaccounted for, it forces you to think about every dollar you spend. There are options to sync your bank accounts automatically or enter expenses manually, and includes debt payoff and goal tracking features to help motivate you to reach your money goals.
We don't want to give more options as there are loads of other apps and lot more new apps pop up every month. We think it is hard to decide and go through all of them to check which is best. Hope we helped you save time with this hard task.
If you decide to use one of these options let us know how it works for you.
Good luck with your budgeting.
Chris G.
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