Money management has become one daunting task given the intricacies involved. If you are too bad with your money, the most common though is to hire a professional to take care of this task. But this will also add to your ever growing list of expenses.
With the plethora of personal money management tools available, you can now easily keep a track of your finances. These tools will not only help you create a budget but will also ensure that you stick to them. Read on to know top six of the money management tools available for your service:
1. Online programs: There are several online programs that you can use for creating your budget as well as tracking your expenses and income. You can either use existing templates or even create a customized worksheet just for your purpose. The best part of using online programs for this purpose is that since the data is stored in the database, you can access it anytime and anywhere, even from a mobile. This makes the money management even more efficient and simpler. With a little research, you can easily find free online resources.
2. Finance Software: A number of money management websites offer budget making software with a number of features to help you manage your money. You can easily download a trail version of any of the finance software and get accustomed to its features and advantages. In case you don’t feel too comfortable, there is always another option.
3. Budget spreadsheets: If the idea of using online worksheets or software fails to impress you, you can certainly try using budget spreadsheets. The budget spreadsheets can be easily downloaded into MS excel files directly from the official website of Microsoft. Since these are template spreadsheets, you get the right way to start yourself even in customized situations.
4. Expense trackers: if you are in a habit of going out every day for parties or meals, having an expense tracker becomes a compulsion for you as there are high chances that you might overspend. The task of an expense tracker is to track down your daily or weekly or even monthly expenses and help you to stick to your pre-decided budget. There are several mobile applications which have been specifically developed for this purpose.
5. Budget calculators: The basic task of a good budget calculator is to first help you organize all the data related to your income and expenses for a month as well as a year. Then keeping an eye on all unforeseen expenses, help you to calculate a budget. If you like to do this task manually, you can also use a budget calculator to know if your budget is optimum or not and make necessary adjustments.
6. Customized calendars: The Custom or budget calendar keep a track of the due dates for your bills and make timely payments. There are several higher models of budget calendars that will also keep a track of the dates on which you are expected to receive any income.
There is no doubt that money making skills are extremely important to complete any person and these skills have become undoubtedly more important in these times of recession.