Budgeting might feel like a totally tedious task, but the payoff is (sometimes literally!) huge. When you stick to a budget, you'll actually feel free to spend more on the things that are important to you without worrying about whether you can really afford it.
That's where budgeting tools like these come in. Just make sure you choose the ones that best match your needs and personality. Do you want a fully automated system to do most of the thinking for you (and save time!), or do you prefer a more involved, DIY approach?
Here are some great options. Pick one and let's start budgeting!
Free Budgeting Apps
Mint - You can connect your bank and credit card accounts to make tracking expenses easy. In addition to keeping tabs on your spending, this app will create a budget for you to follow. Its features include bill reminders, unusual account charge notifications, and even credit score updates.
Wally - Besides keeping track of your budget, income, and expenses this app will show you a clear breakdown of where your money goes. You can even use it to keep pictures of your receipts!
Pocketguard - Once you set your budget with this app, it will automatically let you know how much you can spend safely before your next payday.
Subscription Budgeting Tools
Sometimes free apps are just not enough motivation to stick to budgeting. If you are the kind of person that needs to have some skin in the game to really get into pursuing a goal, then these paid apps are for you.
Goodbudget - $45/year (there is a free version available, too) This tool is a digital version of the cash-based, envelope budgeting system (basically putting a set amount of money into separate envelopes for your fixed monthly expenses, as well as ones for discretionary spending and savings, too). It'll help you allocate exactly where you want your money to go ahead of time.
You Need A Budget - $50/year after a free trial period The methodology YNAB (as it's known) uses is based on four rules: give every dollar a job, embrace your true expenses, roll with the punches (that one's my favorite!), and age your money. You'll not only manage your monthly budget, but learn how to plan and save, too.
Yoly Mason, a blogger living in Orlando, Florida, wants to live in a world where Latinas can enjoy an abundant life with a small budget, and where being in debt is as out of style as the rotary phone.
The information in this article was obtained from various sources not associated with State Farm. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. These suggestions are not a complete list of every loss control measure. The information is not intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. Nor is it intended to effect coverage under our policy. State Farm makes no guarantees of results from use of this information.