Most people would find keeping track of their finances a chore. After all, not everyone has the talent for numbers. In fact, a survey from PwC says that the biggest contributor to stress for 71% of millennials is their finances.
Nonetheless, this is a necessary evil that everyone must be aware of to avoid troubles down the road. Thankfully, technology has made it easier for us to regulate our finances and keep us on our budget. There’s an array of personal finance apps that can do the job. Each of them has a variety of tools and functions to offer. The challenge now is finding the right match for you.
Here are a few things to keep in mind when looking for the best personal budgeting app for your everyday use.
Busy with work? Have a family to take care of? Or a business to run? Life doesn’t have any pause buttons so it’s essential that your budgeting app is accessible anytime and anywhere.
Look into apps that are compatible with different devices such as smartphones, tablets, and laptops. A centralized database will let you access your most recent data across these devices without having to update them manually and constantly. This will make it easier for you to manage and monitor your finances on the go and as frequently as you please.
- Planning and tracking
Budgeting apps with a calendar or planner function would be handy. This way, you can plot out dates and organize your finances ahead of time. Likewise, it gives you an overview of your financial timeline to keep notes of payables and other financial transactions. This also allows you to save up money and regulate your usage for future expenses.
Planning ahead has several benefits. It ensures that you avoid overspending and having insufficient funds in the future. All your money is put in good use, and you are in control of where it goes and where it doesn’t. This encourages you to make good decisions for your future—financially speaking.
- Reminders and notifications
Don’t let your finances catch you off guard. The best budgeting tool won’t let you forget your bills, debts, and other financial transactions. It will give you insights of your day-to-day account balances, expenses, and income through reports and reminders.
Such features will let you monitor cash flow and keep you updated with your financial state. It ensures that you stick to your plans and your budget so that you won’t encounter problems later on. This can be even more effective if it can reach you through your mobile devices so that you are constantly updated.
Syncing your financial transactions to your personal budgeting apps can help ensure the accuracy of your data. It also offloads the burden of manual entry from your shoulders, so you can focus on planning and organizing your finances instead of going over the numbers again and again.
By uploading them directly from your bank, you are certain that the data you’re handling are the most recent ones. You don’t have to rely on your memory to keep track of your activities because you can simply import your credit cards and debit card operations into your application.
- Security and privacy
With the way the internet provides an accessible platform for your data, this also leaves you vulnerable to cyberattacks. It is essential that your app can shield you from such threats. This means providing encryptions for your passwords, biometric scanners, and other security tools and measures.
Likewise, budgeting apps that can move your money from your bank or credit can be risky as it provides more windows for opportunists to access your accounts. It’s best to protect yourself by disallowing apps from having direct control of your bank accounts and credit cards.
With the diversity of tools available, pricing for personal finance apps vary. There is some free budgeting software out there that offers basic services and functions for finance management, while there are those that provide premium plans for more comprehensive tools.
Whatever your budget is, you can find one that can suit your lifestyle and needs. Just keep in mind the features that you will most likely need to help you keep track of your finance, compare them across apps, and weigh them with their corresponding prices.
Keep track and plan ahead
Dealing with your finances can be overwhelming. Nonetheless, it’s an unavoidable part of life. It is important that you keep track of them so that you can avoid encountering problems in the future. Likewise, planning ahead is the key to a smoother and hassle-free financial journey.
Having the best budgeting software can help you organize your finances and keep you right on track with your budget. It can automate, compute, and inform you of your financial activities, easing your mind from money woes. With it, you can focus on other day-to-day responsibilities without being tied down by your personal finances.
CalendarBudget is an easy-to-use budgeting software that can help you manage your personal finance with ease. With its calendar-based system, you can easily track and plan your money on-the-go whether on your browser or mobile device. Contact us if you want to learn more.