Chris O'Shea
Creating and using a budget isn’t exactly fun for most people. If you’re one of them, one way to help things go smoother is to use an app. Here’s a breakdown.
Change of Mindset
The first step toward making budgeting a powerful tool for you is to rethink its purpose.
Budgeting is Freedom
Instead of looking at a budget as something that restricts you, look at it as something that gives you freedom.
- Spending on Fun Things. It shows you how much you can spend on the fun things in life.
- Achieve Goals. It shows you how you can reach your long-term and short-term savings goals.
- Life in Order. A budget shows you how to keep your financial life in order so that you can do the things you want to do.
Embrace Tech
The good news about budgeting is that you don’t rely on pen and paper anymore. It doesn’t have to be difficult. There are loads of budgeting sites and apps that can make budgeting easier and, yes, even fun.
Features to Look For
Apps have many features and services depending on your needs.
- Cut Subscriptions. Some apps find and delete subscriptions that you don’t use.
- Negotiate. Some apps negotiate with companies to lower your monthly bills.
- Recommendations. Other apps allow you to connect all your accounts to give spending and saving recommendations.
Some App Ideas
Try different sites and apps until you find one that works for you. It should be easy to use and motivating. Here are some ideas of apps you could try:
- Empower
- Copilot Money
- Monarch Money
- Origin
- YNAB
- Quicken Simplifi
- Others (Search for apps by features/services you value)
Do One Thing: Set short-term savings goals to help you stay motivated, and make sure you use tech for help with your budget.
This information is intended for educational purposes only. It is not to be used as financial, legal, or investment advice or guidance. Any products listed are merely suggestions and not endorsements or recommendations.
