Insanely Powerful Budgeting Tools For Money Management Done Right
There’s so many reasons to get serious about your budget. Maybe you are struggling financially living paycheck to paycheck. May you want to get serious about saving for the future. No matter the reason, if this past year’s pandemic has shown you anything it’s that you have to be prepared for uncertain times. The best way to do this is equip yourself with budgeting tools. But what does that look like?
This is not a guide on how to make money fast, rather how you can manage the money you do have. Making more money won’t solve your problems if you don’t know how to spend and manage it. These 5 budgeting tools are basic but so necessary if you plan not only to stay abreast, but to thrive! If you want to be outsideeee this summer, check out these money must-haves!
Top 5 Essential Budgeting Tools
Banking Apps
This is the number 1 financial management tool. You can’t get where you’re going without a) knowing where you’ve been, and b)seeing where you are. Banking apps keep you on top of your spending. You can see exactly where your money is going and keep an eye out for unauthorized transactions.
Most, if not all, banks have apps. This can be convenient for moving money around on the spot if needed. More importantly, you’ll always know exactly what’s in your account and how much you have to spend.
Credit Tracking
This one isn’t quite what you think it may be. Credit tracking apps like Credit Karma are great tools for managing your debt. Knowing your score is nice, but knowing how much money you owe and to who, is essential! Rather than monitoring every single banking app (which you should do periodically), you can look here for your total debt numbers. It helps you compare who you owe the most to and what percentage of your total balance is being utilized. If you’re on a debt payoff journey, you could benefit from credit tracking apps.
An added benefit is you get to watch your score increase as you progress.
If you’re looking for a new card with cash incentives for opening, check out Chase credit products.
Excel OR a Budgeting App
Here at Mommy Hustle Pro, we have one of the cutest budget templates there is. Not only is it easy on the eyes, it’s effective. Track expenses by spend categories, pay down debt, and save all in one place.
Having a solid budget not only helps you track what you’ve already spent, it’s a good tool for comparison and goal setting.
Budget Template Spreadsheet, Savings Tracker, Debt Payoff for Excel
Enjoy this 12-MONTH, customizable Excel budget download with monthly income and expense sheets. Customize your financial plan, stay on top of your income, track your bills and other expenses, learn where you can tweak, and chart your savings progress! Budget downloads INSTANTLY upon purchase; spreadsheet features layout in pink and neutral tone brown hues.
Accountability Buddy
Sis, this is a tool! Similarly to a workout buddy, having someone who is trying to reach similar goals as you is helpful. Sure you can do it alone, but it’s nice to have someone you can tell your achievements and vent your grievances. Not only is it helpful, it’s a flex! You will both be better off for it. We love living a glamorous life but to show some self control and reach your goals is even better.
Find an accountability buddy that meets your needs. This means check in’s as frequently as you need them (can be scheduled or on the fly), persuasive tactics to talk you out of poor decisions, a listening ear, and a reward system. All of these things are necessary to keep you motivated and engaged.
Don’t know anyone that would take the journey as seriously as you? Hi, I’m Marchay, and I’ll be your new money management financial coach. I offer all of the above services AND my goal is to set you up to be able to do it on your own. While other coaches want you to keep them around, I want you to save the money you’d spend booking my services over and over again.
Purchase you budget tracking template today!
What’s your favorite budgeting tools?
One Comment