As we all know, budgeting is a way of planning how to spend our money. The budget lets us know whether we will still have more money to take care of things. It’s generally a good idea to plan in order to prioritise expenses and concentrate finances on the most important things to you.

Budgeting is sometimes viewed as a difficult necessity. This is where technology comes in, and boy do we need it sometimes! Recently apps have been developed and I would like to share so we can make use of them in other to help our own budgeting styles.

Goodbudget:
Goodbudget is based on the idea of envelopes, where you assign your monthly income to distinct categories of expenditure. This app allows access to the same account through different devices, so family members and spouses can manage a budget. Unlike other budgeting apps, Goodbudget does not have bank balances synchronized.

You attach account balances manually (which you can select from the website of your bank), and perhaps even cash and debt numbers. Once accounts and revenues are completed, you allocate money to divisions of expenditure, considered as envelopes. The free edition enables one account, two computers, and envelopes with restrictions.

YNAB:
YNAB is designed for one dedicated user; based on zero budgeting method, so users are expected to plan on every pound earned. This is a paid for app. Users can link bank accounts, set deadlines, donate to savings, and configure categories of spending. They can also access information, such as guides for app users, budgeting advice, and free workshops.

Mint:
Mint is the preferred budgeting app for some time: it monitors and classifies transactions automatically, providing an image of real-time spending. Users may add their own sections, break transactions, track bills, and set goals that will notify them when they reach their maximum threshold for spending. Credit scores and free credit score tracking are also part of the services rendered.

I hope that some of the budgeting apps mentioned help you with planning your money. Let’s make sure we can enjoy our hard earned money is not just frittered away.