Here are the most inexpensive tools to use when budgeting your money

A review of some of the most popular budgeting platforms that are cost-effective, useful

Last updated: August 05, 2021 | 12:46

2 MIN READ

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There are four basic ways to create and track your budget.

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Here are some proven techniques, with a focus on new online tools that you can use to budget.

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Going about it the old-fashioned way with pen and paper is the oldest yet still among the most popular methods.

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Japan’s Kakeibo is a budgeting system that combines tracking purchases with the habit of mindfulness.

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The most popular spreadsheet software for budgeting is Microsoft Excel.

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How a spreadsheet works is the document lets you organize a lot of information easily and does the math for you.

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There are several free web-based software programs that can help with budgeting.

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With some of these tools, you can safely link your accounts and your transactions will automatically be deducted from your budget.

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Popular website ‘Mint’ allows you to create and group your expenses into categories and track your spending.

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Mint is the go-to budgeting app for people who want their budgeting work done for them.

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Several other popular ones are, ‘You Need A Budget’, ‘Mvelopes’ and ‘EveryDollar’.

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=‘You Need a Budget’ is a software that aims to also help you improve your financial literacy.

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The ‘EveryDollar’ app is for someone looking for a simple do-it-yourself app that offers a little more than traditional spreadsheets.

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To use financial software programs you need to be computer-savvy.

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Other personal finance software include 'FutureAdvisor', ‘Personal Capital’ and ‘Tiller Money’.

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Some software helps you master budgeting and expense tracking, while others can help with investment portfolio management.

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