A budget toolkit is what you use in your every-day life to manage your finances and keep yourself organized. If this term is totally new to you, then you are in the right place! Budget tools can be anything from a composition notebook and pen to Microsoft Excel or any of the numerous budgeting apps available at the touch of your fingertips on the Google Play Store or Apple Store. Today we will explore some of the tools available to help you manage your budget and gain control of your personal finances.
Budget worksheets can help you organize your expenses and keep you informed of where your money is going each month. There are thousands of free sample budget worksheets available by searching Google, with printable versions. If you have minimal expenses and no stock portfolio, you won’t need a complicated worksheet that includes those line items. If you run a small business, your budget worksheet needs will be different. Find the budget worksheet that most closely matches your needs and use that as the template for creating your budget and learning how to manage your finances.
Excel or Other Spreadsheet Programs
If you own a computer, chances are you have access to Microsoft’s Excel or Apple’s Numbers programs. There are numerous tutorials on YouTube to help you learn the basics of creating a budget with a spreadsheet tool. You can learn the basics in under 20 minutes. By using one spreadsheet with tabs for each month, you can keep track of your finances for the entire year and use it to analyze your financial habits.
If you don’t have access to a computer or are just more comfortable using your phone to track your finances, an app may be the best choice for you. There are numerous apps available, it’s simply a matter of finding the one that will suit your needs best. Most of these apps function in the same manner. You begin by plugging in your income and expenses with paydays and due dates for bills, then the app does all the math for you. Some apps allow you to link to your bank account and set autopay or reminders for your monthly bills, ensuring you always pay your bills on time.
If you are like most people, budgeting won’t be the highlight of your week, but it doesn’t have to be a nightmare either. Explore the tools available to you and figure out what will work best for you. Make it a habit to sit down weekly and review your budget so you can make adjustments as needed.