It’s a new year, which means there’s no better time to set up your budget for success. Do you have any financial goals set for 2020? If so, you’re in luck, because there are some pretty awesome tools out there for personal finance! Today, I’m going to share about those that were created to streamline the way you manage money.
Now, before we begin, it’s important to mention that not everyone manages money the same. The tools I’ve chosen to showcase are optimal for different reasons. So, my hope is that at least one will stick out to you that will allow you to effectively budget on the go.
Let’s check out a few I’ve come across that I think are great options:
1. mint
If you’re looking for a free budgeting app that tracks everything all in one place, you might be a fan of mint. Mint links to your bank account(s) and alerts you when different transactions occur in your account. Whether you’re tracking your credit card debt, or checking the status of your investments, mint compiles it all, making it easy to stay on top of your finances. Mint also updates your credit report for free and gives its users up to $20 off on TurboTax (perfect timing). Interested? Check out their site here.
2. everydollar
Have you heard of this free app? Everydollar is known for its ease of use for the busy budgeter. Like mint, it also links to your bank account(s) to track each transaction. One of the features allows you to customize each budget category to fit your needs, whether it be income, saving, giving or spending. There’s also a click-and-drop feature to correctly assign transactions to the appropriate category (groceries or transportation, for example.) Want to give it a try? Click here to sign up.
3. YNAB
If you’re looking for something a little more in-depth, You Need A Budget might be for you. This budgeting software is also available as a mobile app and offers features like setting goals and tracking your progress. Budget categories are neatly organized, giving you control to modify as needed. They offer a 34-day free trial that doesn’t require payment information upon sign-up if you decide it’s not for you. I personally know others who use this software and LOVE it. Their link can be found here.
4. QuickBooks Online
A sister-company to mint, quickbooks online offers many features that are not only suitable for personal finance, but to small businesses as well. It conveniently links to Turbotax and allows users to track expenses, run reports and capture and organize receipts. It’s pretty much a glorified record-keeper for financial documents. However, there is a monthly charge for users, ranging from $12-$35 per month. Not sure if it’ll work for you? Quickbooks online is offering a 30-day free trial for new users here.
5. Envelopes
If you’d rather use tangible cash for certain categories of your budget, this classic envelope system is a tool you can’t pass up. In a digital world, envelopes can seem irrelevant; however, there will always be a need for cash-only purchases. Envelopes are also great for purchases that vary in cost (groceries, restaurants, and clothing expenses, for example). It is a must-have if you carry cash, but need help keeping it organized. Check out these envelopes on Amazon.
6. Monthly Planner
Maybe you’re more old-school and enjoy seeing your budget written out on paper. If so, nothing could be more practical than a good, old-fashioned planner. Keep your money plans organized each month in a format that makes sense to you. Amazon sells this one shown above.
Let’s face it, budgeting is a whole lot easier with the right tools. Use them to your advantage! Have you tried one that you love but don’t see it listed? Or are you currently using one of these tools and can’t live without it? If so, share your thoughts with me on Instagram.
My hope is that at least one of these tools works for your lifestyle and allows you to budget more efficiently. Here’s to a more financially-focused new year!