Creating a budget and consistently follow it are the key to reach financial goals. It’s hard by the complexity of creating and keeping a detailed budget as it need more time.
There a re plenty of free tools and resources to help you get started and keep going such as :-
1.A Simple Notebook
– The notebook is easiest tool to use. You need to write your expenses to track it. After a month of tracking all your expenses, you’ll have a clear picture of where your money’s going.
– You need to figure out your budget categories and target amounts with your spending notebook. You need to label a bunch of envelopes and fill them with the appropriate amount of cash. You don’t need using credit and by spending cash, you’re much closer to your money. The category is for specific category only such as food or entertainment.
3.An Excel Spreadsheet
– If you have any spreadsheet document, you can use it to create your budget. Microsoft Excel provides several simple budget templates. Google Sheets, also have a budget template to use. Maintaining a spreadsheet budget does require more time but the extra effort helps you have a better understanding of your money, which makes it easier to develop better habits.
– Mint is the most well-known of the Internet and smartphone-based budgeting applications. Mint begins automatically tracking your money once you’ve entered basic information such as credit, banking and investment accounts.It is easy tools to manage your budget .
– PearBudget began as a cool Excel spreadsheet and has now become a Web app. It is simple, with a few dozen common expense categories to choose from, and it’s all easy to change later if you need to. The cost after 30-day trial is $4.95 a month.
6. Level Money
– Level Money is like the envelope system in a smartphone application. After you set up some spending and savings goals, the app lets you know what you can spend each month, week and day. Level money connects to your bank accounts and estimates your income and spending habits automatically. It also adjusts your spendable cash based on goals you set.
– GnuCash earns a mention here because it’s free and because it’s available on the Linux operating system as well as Windows and OSX. It is suitable for both home and small business use as you can track income and spending, as well as bank, investment and retirement accounts.
Source :- Money US News