Setting up a budget is the very first step in saving money and living a financially normal life. There are many free as well as paid tools that can make your life easier by helping to manage your personal finances in different circumstances.
Multiple budgeting techniques work differently for everyone. Some focus on weekly budgeting and some go for monthly while few only focus on savings. You can use a desktop file, a mobile application, or just a pen and paper.
No matter the tool, this article is to help your find the most appropriate tool for you if you are struggling with taking control of your budget. Click here to know more about different financial tools for budgeting.
This is a free budgeting tool that helps in efficiently taking control of your budget. You will never have to register for it and the data is stored locally. It asks you to put your income sources and the dates you are expecting to receive them.
Further, you can add the regular expenses, and then the remaining amount is set on budget buckets for other expenses including gas, going out, groceries, etc.
This tool is very simple to track all of your expenditures. You can tap the amount you spend and save it to a bucket. This way the amount will be deducted from the bucket and then you can see how much money you are left with. It then helps you to manage your expenses and debts as well. Learn more about how you can get out of all debts and manage yourself financially.
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Weekly Budgeting Spreadsheet (Google Sheet)
If you are setting up your budget for the first time then wait before spending your money on premium tools like Mint or YNAB. Going for them is not a bad idea but a simple spreadsheet can be the best place to start. There are many free templates available to set your weekly budgets.
The Weekly Budgeting Spreadsheet is ideal for the ones who are getting paid weekly and bi-weekly but monthly salary people can also use it. It will be a great way to list down your expenses and then stick to them. View more for help in credit counseling and budgeting.
You need to be more cautious about your personal finances’ security and privacy. Installing my-Budget software on your computer can be a solution for that. It is an offline software that stores data on your hard drive. You can make manual entries about your finances and transactions.
The program is simple to use and anyone can set up a budget on that. you can set income, add categories, track expenses, write notes, and view your whole budget altogether. Learn more about getting started with managing your financials.
The 80/20 Budget
Many people are not very good at savings. They set the budget at the start of the month upon receiving salary and ignore savings. So, if you are on a budget, you can make some savings from your budget in the end. If this is you, the 80/20 Budget is for you.
The 80/20 budget has a very simple rule to go along with which is pay yourself first. This is when you will find your 20% savings first and then set the budget with the remaining 80%.
Budget Planner Book (PDF)
Many of us are old school and love to track things with a pen and paper. If you are the one, then this Budget planner Book which is free and printable is for you. It has more than 24 pages that help you in setting up your budget, tracking your expenditures, and sticking to your goals. You can also download extra copies if needed.
Starting with a master budget sheet, you can go for setting up your monthly income, expenses, and balance. Then you can also go for a weekly budget including savings. Many money motivators in this can help you to manage things like savings and debt settlements.
If you are new in the world of budgeting, initially, you can find using these financial tools bit challenging. Counting every penny can be unnatural to you but sticking to it can be helpful for you. See more about financial management tips and tricks.