The best budgeting and saving tools are the keys to an efficient and effective management of your hard earned money. Sticking to a budget is not something everybody is great at. The process is quite overwhelming and requires time that we don’t usually have. But budgeting is necessary for a well planned financial goal. Well, we have curated a list of some amazing tools that can help you manage your budgets and save you time. Some of the tools listed are totally free making them perfect for efficient planning.
Best budgeting and saving tools of 2018 are:
1. YNAB(You Need A Budget)
It is one of the budgeting tool based on an envelope based system that focuses on making you aware of the amount of income available in your account to manage your spendings accordingly. The platform is like a simple spreadsheet that is easy to use and understand. The first 34 days of the trial period is free and after that, it charges a monthly fee of $6.99. The tool is based on budgeting your last month’s income rather than the future one to handle your balance much better. It’s perfect for spending within a reach and managing the budget from paycheck every month. The additional graphs and reports features make you understand your spendings better and more efficiently. Now you can directly load the transactions from your bank but the using them requires a confirmation from your end.
One of the free, most valuable and best budgeting and saving tools is Mint. It is owned by Intuit. All you have to do is fill in a little information about your banking accounts and credits and it automatically tracks your money. You can even add your personalized default categories for easy access. The app is very simple and handles the monthly budgets efficiently with its easy to use tools. Managing your expenses based on the trends have never been so easy. Brokerage accounts and other credit histories and financing solutions are easily accessible. At the time of paying taxes, the app automatically transfers the data into TurboTax. It allows you to discover plenty of ways to save more and spend effectively.
This tool is termed as the most effective tool for managing your budgets including the investments, financing, bill payments as well as reports. The app automatically gathers your details from your bank account and download your transactions for easy management of the budget. The app was previously owned by Intuit till 2016 and was later sold to H.I.G Capitals. The main issue with it is that it doesn’t work as much efficiently on a phone than the PC version. The app allows you to sync your data automatically so as to access your accounts anytime you need. You can track your investments, plan the budgets, finance your credits all in one app without the traditional pen and paper. It has become a subscription service from the early 2018 and was free till 2017.
4. Personal Capital
It is one of the best budgeting and savings tools that offers robust tracking of budgets and transactions. The app is typically free to use and have an actually simple dashboard type interface that is easy to access to manage. You can link your account to the app manually or connect it to the server to download the transactions automatically. The people who have invested in the assets of the company requires to pay an additional annual fee though, the number of tools are free to use. You don’t require to add the category of your expenses manually, the tool automatically picks the appropriate based on your transactions. The tool helps you manage your investments, taxes, returns, dividends all in one cost effectively. They also offer a retirement plan.
You can never underestimate the power of a nicely laid out spreadsheet. It is exceptionally easy to use as well as manage. All you have to do is fill in manually your expenditures and budgets and it will present you a detailed description of how much you are spending and on what. The excel spreadsheet is something we all are familiar with. The Google Sheets are also easy to use as well as free. You can get a control over your spendings with such a clear understanding of your budget. The good news is all the data you add is saved automatically and sharing is rather easy. You can choose the sharing options such as read-only or edit. It will give you an ultimate control of your next expenditure issues.
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