#Ynab budgeting how to video

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Ynab budgeting how to video

Variable expenses are things you have more control over, such as groceries, travel, dining out, shopping, and charitable donations. In general, your budget should be divided into three categories of expenses: fixed, discretionary, and savings.įixed expenses are things you can’t avoid paying, such as rent or a mortgage, utilities, and loans. You can make a budget for a specific time frame (monthly or annual are the most common). Take how much you expect to earn next month and use the expenditure percentages from step three to estimate what you can spend. You can now set up next month’s budget.For instance, maybe your typical $500 grocery bill jumps to $700 in November and December, or you pay your homeowners insurance premium at the beginning of each year. Estimate how much you’ll spend in different categories each month over the next year.Use last year’s pay stubs as a reference point and adjust as needed (perhaps you recently got a raise or finalized a new business deal). Estimate how much you’ll earn each month over the next year.Variable/discretionary ordinary living expenses (such as food, clothing, household expenses, medical payments, and other items for which your monthly spending tends to fluctuate).Fixed costs (such as housing payments, utility bills, charitable contributions, insurance premiums, and loan payments).Separate your spending categories into main buckets.(This is an especially useful exercise if you have uneven income.) For instance, let’s say you spent $500 in January on groceries, which was 12% of your household earnings. Note how much you spent in each category every month, as well as what percentage of your monthly income that spending represented. Categorize all of your expenses over the past year.Add up your take-home pay over the past year.Most institutions let you export your transactions as a CSV file that you can open in Google Sheets, Excel, or Numbers. A year’s worth can give you a good sense of how much you tend to spend over a given period of time. Collect all of your bank and credit card statements over the past year.(Ever get hit with a large bill, such as for an auto repair or emergency dental treatment? Those kinds of things can throw your budget off track.) Spreadsheet-based budgets (and some other budgeting tools) prompt you to create a myriad of categories and assign a dollar amount to each one, which is not only overwhelming but also likely to fail. It tracks your spending, revolving bills, savings goals, and earnings history to estimate how much you have left to spend in a given month in any category you want. We recommend Simplifi for most people because it’s a happy medium between the two. Conversely, zero-balance apps encourage a more hands-on approach, forcing you to account for every dollar you bring in (X amount for savings, Y amount for rent, and so on), but they tend to be idiosyncratic and costly. Tracking apps offer a 30,000-foot view of your finances, display your transactions in real time, and require very little effort to set up. When you roll your own spreadsheet, it’s surprisingly complex to allow for cleared and uncleared transactions.There are two basic types of budget apps: trackers ( à la Mint) and zero-balancers. YNAB walks you through the process of reconciling your account. Reviewing Your (shared) transactions and resolving any discrepancies, aka budget reconciliation, is also very simple. You might actually keep a true budget instead of a ledger. If that happens it’s much easier to help them be engaged from the beginning thanks to a dedicated budgeting tool. Think about the following: your partner might want to pitch in from time to time, or sooner or later the person managing the budget will change. It provides a better, more efficient interface than Excel. It’s a system that doesn’t need maintenance and it’s constantly improving. It takes most of the work of your hands allowing you to purely focus on budgeting. When talking about limitations it can be good to compare to YNAB. These accounts can be investment accounts but also a mortgage. This an overview of my tracking accounts.

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ADHD money/budgeting system I'm currently using for my benefit is going well (I've been using it for like half a year now?), and I wanna recommend it.

You Need a Budget is EXCELLENT. 10/10 do recommend. Uhhh rambling about it and my generic disclaimers + gushing extensively under the cut but TL;DR I think it's great for ADHD ppl, I've used it for 6+ months now and I find it super SUPER helpful. also weirdly fun.

DISCLAIMERS:

Budgeting helps you understand/know your money, it can't make money appear where there is none.

Everyone should learn to budget even if you don't have much money (especially then)

This is NOT a magic trick solution. Just like everything else, it is an assistive tool. This is one of those adult things we can't simply opt out of without negative consequences, though.

My advice is based on something I am currently able to do. That is, I can spend an amount of money on this specific thing that works well for me. If you have no extra money to spend then previously I was tracking things in a notebook. So you can still do this.

I believe Dave Ramsey is a fundie fraud/hack and no one should listen to him about money.

DID YOU KNOW THEY CANCELLED MINT???

Okay? OKAY.

Ahem.

You Need a Budget is EXCELLENT.

It is called YNAB for short. The first 34 days are your free trial, and that is my referral link. If anyone uses it and then signs up for a subscription, we both get a month free. Also you can share a subscription with up to six people (account owner can see everything but individuals can pick and choose what they share amongst each other) so like...idk your whole polycule can be on one account. Or your kids. Whatever.

If you are a student, it's free for a year. If you aren't, a subscription is $99 for a year (paid all at once) or $14.99 monthly, which is equivalent to paying Amazon prime. Go cancel Prime and get this instead tbh.

They got a whole article just on ynab and ADHD. They also have like...a big variety of ways to access their info? They have a book, podcast episodes, YouTube videos, blog posts, q&A's, free live workshops you can join (you can request live captioning), emails they can send (if you want) a wiki, and so on. They got workshops on all kinds of topics!!

So whatever ends up working for your brain. It also has a matching app.

If you lost Mint this year they have a gajillion things for moving from Mint.

Also they have a "got five minutes?" Page which has a slider so you can decide how much attention/time you have before going on lol:

They only have 4 rules of the budget, they're simple and practical, and it doesn't get judgey or like...mean about your spending.

1. Give every dollar a job 2. Embrace your true expenses 3. Roll with the punches 4. Age your money.

THEN THEY BREAK THESE DOWN INTO SMALL STEPS FOR YOU! They even have a printable! Also these rules are great because there's built in expectations that things WILL HAPPEN and it's NOT all or nothing with a fear of total collapse into failure. Reality and The Plan don't always align, especially if you have ADHD. So it's directing our energy towards the true expenses and not clinging to The Plan!! over reality.

You can automate a lot of shit (you can sync with your bank accounts just like mint, but also automate tagging the categories of regular expenses/transactions). And if for whatever reason you accidentally do something that makes the budget look weird or wrong:

A) you can usually fix it somehow OR b) they have like, a button you can press that gives you a clean slate and archives the previous version of the budget for you.

So if you forget for a few weeks or months, or accidentally input something wildly wrong, or just don't want to look at a really terrible month anymore and feel like you need a fresh start you can usually either fix it or start fresh which is really nice.

The app also (for whatever reason) scratches my itch to have things like...have incentives or little game-like goals in a way mint never did? I don't know why. Filling up the bars or putting money into the categories to cover my expenses is satisfying lmao. You can also make a big wish expense category for all the fun shit you want, and fund it whenever you can and then you can see the little bar go up and that's fun.

Anyways I've been using it for like 6+ months now and I think it's really helped me when I use it.

[gemsofthegalaxy]

CBC article on girl math lmfaoooooooo

although i guess they have a point, like, talking about your financial rationale is not necessarily a bad thing

one of the problems with financial literacy, though, is that people get their financial education from, like... random completely unqualified people like their friends and relatives, and may be led astray

honestly i really have not been following this like "girl math" "girl dinner" thing, i am intrigued by Rowan Ellis' video on the topic asserting that it's infantalizing like.... i wanna watch it to see what she actually has to say about the matter because

people finding things difficult or struggling is not necessarily infantalizing ? regardless of whether they're girls.

the fact of the matter is, financial literacy is hard for a number of reasons, and it's not just girls that struggle with money or understanding the economic system, but women might still be able to identify the reasons they struggle with it may be because they're barred from it more often, and that there is an extremely long history of men being in control of financials to the point women were not allowed to manage money in somewhat recent history. acting like we have just completely shaken this off and it's not still impacting our attitudes and perceptions towards money is like, silly, so blaming women for being stressed out or making jokes about not understanding things is like. not that nice i guess?

still. all of us could benefit from learning more about real financial management, from reputable sources. i don't LIKE our economic system, i don't like the fact that you basically need to invest or else your money has less value over time, but, that is the reality we have to live in. so learning about it, like many of us have learned about capitalism and it's impacts on our attitudes towards work, is still very important.

talking about our purchases, and money habits, is not inherently a bad thing. talking more about money, how much you make, etc. can help people become less fearful about money, and lessen stigma around it, which may in turn encourage them to reach out when they need help.

anyway. I recommend YNAB for budgeting lol

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da shillzone

just gonna make a fucking. megapost of affiliate and referral links for anyone who wants to support me and also get deals or whatever. i'm gonna try to be pretty clear about what i get for things also.

you get a thing, i get a thing:

Everand, formerly Scribd: read 'unlimited' (ish) books, use my link to get two free months and I also get a free month.

Mubi: it's not movies, it's cinema (it's movies). Use my link and we both get a free month.

Reel Paper: it's bamboo toilet paper with no plastic packaging and so far it's been the only one I like. It's a subscription and also spendy compared to regular toilet paper but I'm spoiled now. Use my link and we both get $15 off.

MeUndies: it's the fucking podcast underwear. I know. I know. They had a Halloween collection and I'm weak. It's so comfy I'm mad about it. Use my link and you get 20% off your first order, I get a $20 credit, enough to buy One Whole Underwear.

HelloFresh: pretty sure they fucking suck on labor issues so I wouldn't link it but I can't say no to free food. They say my promo link gets you a free box but I'm pretty sure that's a lie and you actually get 50% off your first two boxes. Anyway use this link gets me a $35 credit.

Unique Vintage: it's clothes, I like the collabs and am still mad about missing out on the Pusheen skirt. Don't buy anything full price imho, quality can vary WILDLY. My link will get you $10 off a $75 order and I get a $10 credit. Not the best deal but whatever.

YNAB: I was spending too much money on podcast underwear so I signed up for You Need A Budget to trick me into thinking money is real. So far it is the first thing to have ever successfully tricked me into treating money as real, and my debt situation has improved exponentially. It's $15 a month or $99 a year and my link gets you a free month, if you sign up after the trial I also get a free month.

ProtonMail: privacy-focused alternative to gmail, switching is easy peasy and it's free. Use my link to get a free month of the fancy paid version, and if you decide to sign up I get $10 off my renewal (because I pay for the fancy version).

i get straight cash:

Humble Bundle and the Humble Store: use my link to buy some video games or book bundles and I get a cut. Signing up for Humble Choice after clicking my link also gets me paid. This is literally the only referral program that pays me worth a damn.

the amazon quarantine:

amazon sucks and doesn't pay for shit except 'bounties' so ignoring all of this is fine actually. i get pennies for most things. it's bad.

Here's the fucking. 'influencer page' that Amazon gave me. I don't really know how it works. Anyway the rest of this is bounties.

You can use SNAP EBT on Amazon, apparently if you register a card using my link I get five bucks.

Audible Plus, if you use my link and sign up for a free trial I get $5 and if you actually pay I get another $10.

Audible Premium Plus is the same deal.

Amazon Prime Video, I get $3 if you sign up for a free trial.

Audible Gift Subscription, buy one for someone and I get either $8 or $10 depending on whether it's 12 months or not.

non-referral gifts:

maybe you would rather just send me a dollar or some cookies or whatever so i'll put all that here

Here's my ko-fi

Here's my Amazon wishlist, I have the occasional expensive thing on there because I also use it for things I plan to buy myself eventually

Here's my Throne, I have surprise gifts enabled so in theory you can send me random weird shit as a prank if that's something that appeals to you

[guidevewor]

You need a budget book

I picked up this book because I wanted a quick "refresher" on the system and simply wanted a more in-depth explanation of each rule. I began the program in May of 2016 and have grown my net worth 120% by following every single video tutorial, religiously following Whiteboard Wednesday, and subscribing to the Reddit and Facebook YNAB forums. Winter break: one of a teacher's only moments to really read.įirst, a disclaimer on yours truly and the bias I may have - YNAB has literally changed my life (or at least my finances). I picked up this book because I wanted a quick "refresher" on the syst Read this book over holiday break. First, a disclaimer on yours truly and the bias I may have - YNAB has literally changed my life (or at least my finances). Winter break: one of a teacher's only moments to really read. (No auditory money pun intended.) What an awesome start to the new year!. um, ever? And while it's exciting, there's no real gimmick here. I'm feeling intentional rather than hopeful about my money for the first time. This book reinforces what feels like an a-ha moment with the YNAB method, and is coupled with clean and clear writing and lots of personal examples from the author's own and others' lives. Something would always come up and I'd be back where I started. I've not been terrible with money -always paying bills on time and paying more than required on most debts, but I've not really gotten off the hamster wheel either. I ordered this book right away, and it keeps clicking. It was confusing at first (as you don't budget money until you have it: so not counting my paycheck or my mortgage payment that *will* happen yet this month didn't make sense at first) but then it just sort of clicked. I've not been terrible with money -always paying bills on time and paying more than required on most deb Someone suggested YNAB in a FB feed I happened to see a few days ago, and so I poked around on the website/app for a bit. Someone suggested YNAB in a FB feed I happened to see a few days ago, and so I poked around on the website/app for a bit. I liked it and I'll keep it handy in my personal finance library. The audiobook was well narrated and it's a quick read (about 5 hours total in audio form). The book meanders a little from its central discussions from time to time, but I liked the overarching information I gathered from it. The information in this book you could essentially find on the program's website, but it does add a few (namely examples) new discussions to the mix. It's a good system and the author gives plenty of examples of how it has worked for his family as well as others who've used this system. "age your money" - keeping ahead of your expenses by allowing the money you've saved in advance can be used for current/future expenses. "roll with the punches" - meaning you're flexible and allow assessment with your spending, and 4. Whether you use a program, app or pen and paper/Excel spreadsheet, this book claims that the system it proposes works for all those methods and then some. Tangent aside, this was an easy to follow audiobook, with a clearly delineated 4-step approach to budgeting. trying to buy a house, save for retirement, etc.) along those lines, what references can I grab?" Enter this book, then I realized the name matched the program. I figured "I've been reading a number of personal finance books lately since the work I'm doing also relates to financial matters and I'm making decisions (i.e. I didn't connect the two until learning about this book from a Daily Deal on Audible. The "You Need A Budget" mentioned here is indeed the same system that's featured from the program/app of the same name. Quick review for a quick read: this ended up being a personal finance read that I picked up without really knowing the backstory to it. I figured "I've been reading a number of personal finance books lately since the work I'm doing also relates to financial matters and I'm making decisions (i.

[trustown]

You need a budget jesse mecham

YOU NEED A BUDGET JESSE MECHAM FOR FREE

So you can go to my YouTube channel, search the episode show notes, or go to YouTube put in Journey to Launch. This is one of the episodes that I actually recorded the video to this interview. So I would definitely recommend going to /journey to give it a try.īy the way, if you want to watch this interview, you can go to my YouTube channel. So even before you do the trial, if you just want to check it out, and I think it's between, it's like under 30 minutes, you can see exactly what this thing is like what makes it so powerful. Live classes every day that you can sign up for they're free. One of the things that Jesse mentioned in the interview is that they actually do live classes.

YOU NEED A BUDGET JESSE MECHAM FOR FREE

Now if you want to get YNAB a try for free for 34 days, no credit card required, you can go to /journey. So I think you'll get a lot a lot from this episode, and I'm excited for you to hear it. You'll get a lot about budgeting so we talk about the mechanics of it like the why you should try it out why you need a budget, but in also the entrepreneurship journey that he went on. So I think from this episode, you'll get a lot. And as someone who was in the personal finance space and has dreams and a vision for what I want Journey to Launch to be, it was really inspiring. And I was so impressed and also inspired by his vision. That was a concept in 20, to what YNAB is today that has over 100 employees and his changing lives like it is a we didn't get into the specific numbers of how much this company probably makes, but I'm sure it's millions. But what I really loved about this conversation is talking to Jesse about how he grew YNAB from a spreadsheet. It was so enlightening for me, because yes, we're going to be talking about budgeting and the four rules that YNAB is based on. So with that I'm really excited because I get to talk to the founder of YNAB, Jesse Mecham. So it's been amazing that I was able to partner with them that they were able to come on and sponsor the podcast for this month. I still use that today for my personal budget is what I recommend to people when they ask me hey, what budgeting app should I should should I try? I always recommend YNAB. When I first started to budget and get on this journey years ago, right like, right when I kind of started Journey to Launch I used you need to budget the app. Now if you're all caught up and you've been listening you know that YNAB you need a budget has been sponsoring the podcast all month, which has been amazing because I literally use this budgeting tool YNAB when I first started. Maybe I'll share that at the end of this episode or I might create a whole new episode about it but I'm really excited about your Journey to Launch is going, where I'm going, how I am really making my visions come through with what I want this to be, so I'm excited about that. And if you want to join us if you want to get some in the know stuff in the meantime, go to and sign up for the waitlist.īut there also have been some really cool behind the scenes things happening. So I'm going to be focusing on the amazing members inside. And we closed doors last week, and I'm so excited for all the new members that joined we won't be opening up doors again until probably 2021. So I created the Money Launch Club to do that. So if you are a new member, that's the online community I created to help journeyers like yourself, people who wanted more than just the podcasts more, who wanted more, more resources, more tools and the community. And so I've been celebrating all month and it's been an exciting month, we just closed doors to the Money Launch Club. If you're listening to this in real time, we are celebrating the three year anniversary this month because I launched the podcast three years ago in July. Now, if you're all caught up on the podcast on the episodes, then you know it is July 2020. I'm super excited to have you here as I always am. Welcome to the Journey to Launch Podcast. Join her on the journey to launch to financial freedom in five, four, three, two, one. As a money expert who walks her talk, she helps brave journeyers like you get out of debt, save, invest, and build real wealth. Welcome to the Journey to Launch Podcast with your host Jamila Souffrant. Budgeting changed my life and finances so in this episode, we're gonna be talking about the Four Simple Rules for Successful Budgeting and Why You Even Need a Budget with Jesse Mecham. You're listening to the Journey to Launch Podcast.

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10 Personal Finance Tips for Girls in their 20s

1. Personal finance advice is PERSONAL. Take any advice you see online with a grain of salt, including this one. That being said, there is a lot of basic advice that could apply to a lot of people and do a lot of good.

2. Be interested about money. You’re being ignorant if you think that money doesn’t affect you, or that you don’t care about money. It is one of the most important areas of your life as a grown adult. You don’t have to think deeply about it every day–you just need to learn the basics and put some time into it at the beginning, and that will set you up better than most people. Read books. Read forums. Watch YouTube videos. Listen to podcasts.

3. Debt is complicated–think about it before you take it on. Think about whether or not it’s a good choice for you in your personal situation. Generally speaking, mortgages are acceptable debt, and consumer debt is not.

Student loans are a grey area, but don’t take it lightly! Make sure the cost is worth what you think you’ll be able to make with an income. Talk to people who are in your field and ask whether or not your level of student loans is worth it. Be educated about debt before taking it on, or else it will be a very ugly monster.

4. You Need a Budget (YNAB) is the best app for budgeting, period. I don’t want to hear anything about tracking your expenses, because that’s retroactive. We want to be proactive with our finances. YNAB lets you do that. There’s a year-long free trial for students too.

5. Credit cards aren’t the devil, but if you can’t use them responsibly, figure yourself out before you use them. The maximum amount of money you can borrow from your credit card (aka your credit limit) is NOT your money. It’s debt. If you can’t control yourself, then take a step back and reign in your spending habits before you get a credit card again. YNAB will help with this. I have access to over 6 figures in credit from the bank, but I’m not out here blowing that money on designer bags and whatever.

6. Your savings are wasted in a savings account at your bank. Big banks have the customers by brand name alone, so their interest rate will be measly compared to smaller banks. Be sure to do your research before you commit to a smaller bank because there can be some scammy ones! My bank’s interest rate on a savings account right now is 0.05%. My high interest savings account interest rate is 1.5%–x30 higher!!

7. Your significant other is a significant decision not only for your life but also your finances. Don’t rush into marriage. Don’t rush into buying a house together. Don’t rush. Divorce is painful and expensive. And being with someone whose financial values align with yours is important. You don’t want to be scrimping and saving when your partner is out buying everything under the sun.

8. You don’t know anyone else’s finances, so fighting to keep up with the Joneses is stupid. There are athletes making millions of dollars a year who have flashy lifestyles and can’t handle their finances and end up bankrupt. You don’t know how the girls on Instagram or the other rich people in your life are affording things, so you can’t compare your situations. You don’t know how much money they make, or how much money their parents give them, or how much student loans they have. Eyes on your own paper. Focus on your own financial security.

9. Reconsider how much you eat out. Eating out is such a money suck for many young people, either because of convenience or because you don’t know how to cook. Learn how to cook. Don’t be lazy. If you’re getting takeout, consider at least picking it up instead of getting it delivered and paying an abhorrent amount of extra charges in service fees, delivery fees, and tips. I’ve cut down my eating out significantly and my wallet thanks me for it.

10. You are in control of your money. (Side note: don’t give that control to anyone!!!) You CAN make good and responsible choices. You CAN achieve financial goals if you do your research and educate yourself and put in the work. You CAN reach a point where money is not a stressor in your life. I believe in you.

Now go out and get wealthy.

xoox,

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[where2next]

How to Save Up Money for Travel

One of the biggest obstacles keeping people from traveling to their dream destinations is not having enough money. You can learn plenty of tips to significantly lower the costs, but the reality is that travel is still not a cheap endeavor.  Getting your finances in order is the only solution to reaching that goal of traveling every year. There are some concrete principles which need to be followed in order to put you on the path to your ultimate travel goals. The good news here is that these principles are not specific to only your travel budget but they can be used for every aspect of your life. You will have to put in the work, but you will be reaping the benefits of it for years to come, complete with being able to call yourself a world traveler!

Get started in financial literacy

For any area of life in which you want to make improvements, learning the important information is key.  Here you will find many of the core principles of budgeting and personal finance, but do not stop there. I fully encourage you to explore the wealth of knowledge freely available in blogs, podcasts, and videos. For our purposes, we highlight some of the basic actions to be taken so that you can start saving money for the purposes of travel.

Pay off high interest debt

The very first thing every person should do no matter what their travel goals are is to assess their debt. If you are buried in debt, your priority should not be traveling anyway until you are free from that burden. A good rule of thumb is to make a plan to pay off any debt above 5% interest. If you have any extra money at all after your expenses it should be put towards this debt. Mathematically, you should try to pay off the highest interest debt first because that will save you the most money. However, we are humans and it can be very unmotivating to try to pay off that debt if it is a large number. The most important thing is getting the debt paid off, not necessarily the order, so a popular tool people use is called the snowball method. With this method, you will pay the smallest balance first. For instance if you have $20,000 in student loans, a $2,000 personal loan and $1,000 in credit card debt, you would pay off the credit cards first. Once that debt is paid, whatever you were paying towards it gets added towards the next smallest debt, in this case the personal loan. You repeat that process until you are out of debt. Getting these small wins initially and seeing some results gives you motivation and will make it more likely that you will stick with it until you finally achieve freedom from debt.

Make a personal budget

It is true that “what gets measured gets fixed.”  To find the weak points in your spending habits, you need to first figure out what you are spending your money on. This can be done very easily these days with free budgeting apps like Mint or with more in depth paid software like YNAB. However, if you want to go fully customized, you can just plug your numbers into a spreadsheet on Excel or Google Sheets. Simply take all of the money you earn in a month and subtract all the money you spend in that month and see what is left over. If you have a negative number at the bottom, you have a problem. Budgeting is not glamorous work, but understanding your own habits can be very powerful and honestly quite surprising. When I started budgeting one thing I believed about myself is that I didn’t eat out very often; hardly at all. Well, after 6 months of tracking all of my expenses, I realized that what I usually spent eating out was roughly double what I had initially estimated. I just had a short memory. Once you have your budget you should get a clear picture of where you may be able to cut some expenses and you can choose what is most important to you. One example that always seems to come up in personal finance is getting rid of your morning coffee run to save money. That can be beneficial if you are motivated to do it but what if you really love that morning coffee? The point is your budget will help you prioritize which areas of your spending are more important to you. To continue with my own example, once I saw what I was spending on eating out I still wasn’t really motivated to change anything AT FIRST. However, things took a drastic turn once I started putting savings into my budget for travel. Afterwards when I would think about stopping to get some Chipotle I would ask myself, “Would I rather get Chipotle right now, or would I rather eat at home and go to Peru this year?” Sometimes I would still get the Chipotle but overwhelmingly I started choosing my travel goals and spent almost nothing on eating out. Putting my goals in the budget made them very real and motivating for me.

 Make a budget for your trip

Now that you have your monthly budget, you have to figure out what your savings goal will be in order to take your trip. This takes a lot of planning, but it can be a very rewarding process. Not only will you know how much money you need to reach your goal and how long that should take, but you will get to experience the trip twice: once while in the planning phase, and then again when you actually go there. Discovering the famous attractions and lesser known areas of a new destination can be very exciting and can help you keep your focus on why you are doing this. Find out what things you most want to do and then search for the deals around them for lodging and transportation. Add up all of those costs plus a little more for unforeseen expenses and you will have a number to set your goal. After that, it is just a matter of discipline and patience until you have saved enough and you can be on your trip!

Have an accountability partner

Anything that requires discipline and willpower is an easier process when you don’t have to do it alone. Have a friend or family member keep you accountable for sticking to your budget. If you plan to travel with friends, you can keep each other accountable and with this shared goal, it is much easier to stick to it until the end. Make sure you check in with each other at least once a week and you must be honest with each other. This is the only way you will learn and grow from mistakes made.

Ways to cut spending

One of the quickest ways to realize your financial goals is to cut any unnecessary spending. Once you start doing this, you will naturally start to prioritize what things are more important to you and what things you truly do not miss. Here are some common ways to cut spending:

Eating Out - Eating out can be an expensive hobby. It is also easy to fall into both from a social standpoint (all of your friends are going out) and from an energy standpoint (I don’t feel like cooking today). The thing is, this is simply not a necessity. Not only is cooking at home healthier for you, but it is going to save you a lot of money and helps you learn a valuable skill. If you are very busy and can’t cook all the time, buying ready-to-go meals at the grocery store is still cheaper than eating out.

Alcohol - This is another category that is not a necessity. Cutting out alcohol can also increase your health as well as your savings. Some people may want to cut it completely for the savings but even if you don’t want to cut it completely, budget to buy some alcohol for home. Don’t go to a bar where you will be paying for expensive drinks.

Coffee - Many people love their coffee. Still, if you want to save, consider making coffee at home rather than going to Starbucks or your local coffee shop. You will be spending pennies on the dollar.

Going to the movies - Going to the movies can be exciting, but more and more technology is letting us have just as good of an experience at home. Not to mention movie theater concessions have a ridiculously high mark up. Opt to make popcorn at home and enjoy a movie in the comfort of your own living room.

Going shopping - Most of us in the U.S. have more clothes than we need. In fact, many people have clothing hanging in their closets that has never been worn. Unless you absolutely need something like a new dress or new pants for a job interview, stop shopping retail.

Negotiating utilities and phone bills - Most people either don’t know or get complacent, but you can negotiate your bills! You should regularly be on the lookout for sales and promotions from your phone company, internet and tv providers, insurance providers, and more. Another good tactic is to switch providers of these services every so often because they will usually give some sort of discount to new customers. This is a great way to lower those bills that you pay every single month.

Ways to increase income and savings

Though this one can be harder to execute, it can also be the most effective. The easiest way to be able to save more money is simply by having more money in the first place. This is obviously much easier said than done but there are a few ways in which you can grow your dollars:

Ask for a raise - One of the quickest ways to get more money is to simply ask for it. Now this must be preceded by good work on your part, but many people could get at least a small pay bump just by asking for it. There are many helpful resources online on how to properly and effectively ask for a raise. If you get one, all of that money that you didn’t have before could be put toward your travel savings.

Avoid lifestyle inflation - Anytime that people do get a raise or get some unexpected income, they tend to adjust their habits to that new income level. However, if you are able to live just fine at your current income, then anything that you make on top of that should be put towards your savings. Do not succumb to lifestyle inflation just because it is easy. You know you can live on less. Do it and reap the benefits of more travel!

Start a side hustle - If you cannot get a raise or have already gotten one but still need more income, you can start something of your own to make money. If you enjoy woodworking, you can make furniture and knick knacks to sell. If you enjoy photography you can advertise to do pictures for people. If you don’t have a very flexible schedule but you have a car, drive Uber when you can. If you work hourly, see where you might be able to pick up an extra shift or two. There is technically no limit to what you can make into a side hustle. It is simply something that you do apart from your primary job that people will pay you for.

Save your tax return for your travel - When it comes time for you to receive your tax returns, plan to put it towards your next trip. If you have a good budget, your tax return isn’t needed in order to live anyway. Depending on the size of your tax return, that right there could fully fund your next adventure!

Open a high yield savings account - A quick and easy way to help your nest egg grow just a little faster is to put it in a high yield savings account. Most banks offer savings accounts that give less than a tenth of a percentage in interest. However, there are several online savings accounts like Ally Bank and CIT Bank that offer much higher interest rates up to 2%. This by no means will make you rich, but it is a good way to have the value of your money keep up with inflation.

Bottom Line

There are always ways to save up for the travel that you want to do. Once you understand how much your trip will cost, how much money you make each month, and how much money you spend each month, you can figure out exactly what you can save for your travel and how long it will take you. With a combination of increasing your income and slashing your spending, you will see positive results and before you know it, you will be on an airplane to your dream destination. Get out there and explore!

[iphysnikephoros]

Resources for figuring out YNAB

Since there is a lot of financial uncertainty going around, I figured it might be a good time to share a tool that I have found a lot of value in over the past few months.

You Need A Budget

What is it? Like it says on the tin, it’s budget software - specifically, envelope budgeting. You assign your money to budget lines (envelopes) and then spend out of those envelopes, with the aim of keeping your spending aligned with your budget. If there’s extra money in an envelope at the end of the month, it rolls over, so you can handle both routine small/medium costs (rent, groceries, fun), occasional large costs (car repair, cellphone replacement, medical), and long term savings (emergency fund, vacation, 10-year roof repair).

You can also adjust how much is in each envelope on the fly, to “roll with the punches” - if, for example, you spend a bunch extra on groceries so you can retreat from the world for the next 6 weeks, you can pull money out of your “eating out” and “cancelled April travel :(” envelopes to balance it out.

What will it do for you? YNAB will not magically alter your financial situation overnight. Over time, and with regular use, it will give you an incredibly clear picture of where your money goes, and allow you to make intentional decisions about savings, spending, and debt. For my family, we’d drained down my savings over about 6 months of unemployment + modest wedding & honeymoon. We started YNAB in mid-November and have started to build up savings again. On the YNAB sub, I’ve seen multiple accounts of people digging out of deep credit card debt, so I know it works for other situations.

The YNAB method is non-judgemental. They want to help you do whatever you want to do with your money, and be as successful about it as possible. It does not matter to them what your goals are or where you are starting from. I find it really refreshing compared to a lot of money advice.

A warning: The first two months or so of YNAB are kind of stressful. However poor you are, you will feel poorer, because you suddenly have a high-def look at all the specifics, all at once, that you maybe were allowing yourself not to think about. This is normal and it passes, but if you can’t afford the stress right now, then now might not be the right time? 

What’s the downside? It costs both time and money.

Time: This is not a set-it-and-forget-it program - for YNAB to work, you’ll need to be on top of it: every few days, at a minimum. Especially to start, I recommend entering every transaction manually, rather than syncing your accounts. It doesn’t take long, and it gives you a much clearer understanding of how the app interacts with the reality of spending and receiving money. When you get paid (or otherwise receive money), you’ll also spend a few minutes budgeting the inflow.

Money: Up front, you get a free 1-month trial, and you can email their support team to request an extension. At the end of your trial, you have the option of a $12 monthly subscription or $84 yearly ($7/mo - worth it if you can swing it). ETA: Forgot to mention, students get a free year!

Resources:

Nick True’s youtube tutorials - Very practical step-by-step process of setting up a budget and using various aspects of the app. If you like video learning, start here.

YNAB resources: live workshops, blog, guides and articles, podcasts, recorded webinars. If you like text learning, start here.

Avoid: I do not like the official forum. The people who post there tend to be very One True Way and judgy about anybody not willing or able to fall in line. Skip it.

Reddit community: On the other hand, the Reddit community is superb. They’re very friendly, supportive, and flexible about how different people might need to use YNAB in their real lives. They have a good mix of people just starting out and old-timers who have been using the tool for a while.

YNAB official youtube channel - Mix of how-to-think-about-budget/money and app tips. 

Aside: If you want to do me a solid and sign up with my referral link, I'd appreciate that very much. I think (but haven’t been able to confirm) that it gets you an extra free month, on top of the standard trial month. It definitely gets me a free month.

[paruecake]

2.21.22 - 8:45am - Monday

I've been spending all my time finally setting up notion and figuring out how to use it. It's actually been really fun and I love doing shit like this so I feel like I'm in my element lol. I'm trying not to duplicate efforts that I already do elsewhere, so that's been interesting. For example, I already do my budget in YNAB. So instead of making an expense tracker where I track what I buy everyday, I've just made a list where I write down all my bills, when they're due, and how much. I also already have this in my google calendar (and in YNAB) but I like having it in a spreadsheet view as well. So yeah! I think I might make a separate Notion account for work, as I think that would be helpful when I have projects.

Okay so... I think I might learn web development. I made an account on Project Odin so there's a start. I've resolved to start tomorrow and just do it during my work day, since my boss said I could use my work time to learn new skills and take classes to prepare for when she and her boss both retire. I'm pre-frustrated with myself though because I know that as soon as it gets hard I'm going to want to give up. I just need to go slow and steady with this. Not try to do too much at one time so I get burnt out, and to just set up a small amount of time every day to learn. I just can't stay at my current job forever, and it would be nice to be able to actually afford things and to maybe even help out my mom someday.

I'm going to try to reach out to one of my coworkers tomorrow and ask them about their experience. I'm pretty sure they went to a coding bootcamp or at the very least taught themselves how to code before they got their current job. So we'll see how that goes! I actually barely talk to this person at work but they seem really cool so I'm hoping that this attempt at contact goes well.

I saw my mom and brother on Saturday and ended up being there for a while. It was really nice! Well, mostly. My brother has a bit of an attitude problem so it was stressful for a while since he and my mom fight a lot. But it was actually my brother who reminded me of coding. He said he had three friends that went to a coding bootcamp and one of them works for Sony now. Apparently he only works like 30 minutes a day because that's just how long it takes him to complete the work they send him, and the rest of the time he just plays video games -.- goals tbh. And he makes like 6 figures! ugh!!! Anyway, all that aside, I think I'm going to make an effort to go there at least once a month and have lunch and just spend time talking to them. I really hope we can move closer to them actually because I would like to visit them more often.

[techsunk12]

Are You Finding It Difficult To Manage Your Finances- 5 Best Budget Apps to Track your Expenses!

Having trouble saving money? Are you looking for the best budget app to help you save money? In this day and age, most people think about spending less and saving more. But let’s face it, most of the time, the majority of them fail to save money by the end of the month.

It is tough to manage money with the day-to-day expenditure of home, work, and other emergencies. Moreover, by the end of the week, motivation to save money also runs out. In light of these reasons, tech professionals have come up with budget planner apps to take care of your budgeting needs.

These apps make it effortless to monitor your spending and saving habits. All you require to do is download the best budget app and link it to your bank account and track your cash flow. Most of the budget application offers a wide range of features to help you improve your finances.

5 best budget apps available

1. YNAB (You need a budget)

YNAB or You Need a Budget app is the best budget planner on the market at present. YNAB company provides the best budgeting philosophy and has a renowned budgeting philosophy, which earned it the top spot in the budget list. This app is 100% risk-free and gives a money-back guarantee.

You may sync your app account to your bank accounts, import your data from a file. If you want, you can even manually enter the details of each transaction. You can easily learn how to use the You Need a Budget app by going through their video courses.

The company even provides a live workshop and reading guide to help you understand and get familiarised with the app. Unlike other budget planner apps, YNAB offers a proactive budgeting approach.

Continue Reading : https://techsunk.com/5-best-budget-apps

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Money Works For Mac

Money Works For Mac Computers

Money Works For Mac

Aug 30, 2019 Receipts is yet another money management software for Mac, and is specifically well-known for its clever handling of invoicing. Using Optical Character Recognition (OCR) technology, Receipts automatically reads and translates important information about your bills, such as amount, date, currency, and more (even if the text is in another language). Mac and Linux Software Learn about the wide range of personal finance software available for Mac and Linux operating systems. MoneyWorks Gold is a fully integrated multi-user accounting and business information system featuring Cashbook, General Ledger, Accounts Receivable, Accounts Payable, Inventory, Custom Reporting.

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Budgeting is a discipline that’s not often met with excitement. Many assume that budgeting is something reserved for companies or, say, freelance workers. However, personal budget software is just as important as corporate one — it’s a fundamental understanding of where money is coming and going.

You may consider it to be boring, tiring, time-consuming, or difficult, but managing your finances well can help you achieve goals and stave off the stress of a rainy day. Thankfully, there are tools and apps on Mac which can help you get on top of budgeting, no matter how experienced you are.

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Why Should I Use Budget Tracking Software?

If you haven’t done a budget before, you should start now. You never know when you might need a particular sum of money to solve an issue, meet a goal, or take advantage of a sudden opportunity.

Budget programs help you reduce the stress and uncertainty that comes with not knowing where you stand financially. If you don’t have a home budget software, you might be tracking towards a situation where you run out of money, without even knowing it. If you do have a budget, then you’ll have a documented plan of action to improve your situation.

Importantly, you don’t need any qualifications to do a budget, nor do you need to be good with numbers. Take advantage of the best budget software for Mac to help you take control of your finances without the hassle. Budgeting tools come in many shapes and sizes, so selecting the right one for you depends on personal preference and previous experience with managing money.

Handy tips for budgeting tools

If you’re ready to start your budget, it’s best to consider a strategic approach to ensure maximum utility. Too often, budgets sit collecting dust after being created, and sometimes the act of creating a budget could feel like enough to satisfy financial concerns — it’s not. Here are some tips for making the most out of your budget.

First of all, definitely use an app to help you manage a budget. App developers invest a lot of time and money into figuring out how their software can make your life easier and better, so rather than trying to understand all the nuances for yourself, let a dedicated app do it for you. There’s even some free budget software around, so you have very few excuses not to try!

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If you run a business (or freelance on a side), a little bit of work each week means end of year taxes are a breeze. It’s not about doing a marathon of work in a few days, but making a habit to consistently do a little bit here and there. Try aiming for 10 minutes every few days. The best tax preparation software will also have reminders and notifications to help you achieve this goal.

It might sound contradictory, but budgeting isn’t always about getting the numbers 100% accurate. When it comes to tax preparation software — sure. But budgeting is mostly about understanding where your money is being spent and then using that information to make more informed decisions going forward. Therefore, make sure you categorize your transactions so that it’s easier to spot those minutiae differences and trends. The best finance apps should do this for you automatically.

In summary, you want to ensure you take advantage of the online budgeting tools available to you, aim to update your records frequently, and focus on categorization over accuracy.

Features of good personal budget software

The best personal budget software for Mac is easier to pin down when you know exactly what you’re looking for. Not all apps are the same — they vary by function and pricing. Generally speaking, there are a few key features you want to see in your budget software for Mac:

It should be simple and easy to add new records or transactions

Importing bank and credit card statements should be possible

Automatically synchronizing statements will take the edge off your manual inputting

Useful dashboards or visuals will help you understand your situation at a glance

You should be able to categorize your transactions into groups

Out of those five key points, the ability to import is often the most essential. Importing saves you the hassle of adding each transaction into the money management software line-by-line, which adds up to a lot of time. It’s hard enough already to schedule frequent updates to your budget, so if you can remove the largest friction point of manual entry, then you’re in a good place.

The best budget software for Mac comparison

When it comes to programs to help budget money, there are countless options. It’s easy to get lost diving deep into each budget software review, but here are some of the best available, ranging from beautifully basic to powerfully advanced.

You’ve probably heard of Quicken, given that the name has been around since the early 80s. Even then, it was known as one of the best tax software companies around. That says something about the strong product, which carries all of the basic functions you’ll need to manage your budget well.

Right away though, you might notice that the interface has become somewhat dated in comparison to the newer contenders out there. But one of Quicken’s praised features is the ability to download bank statements and have the records automatically categorized, which can drastically reduce the time it takes to input your information, so you can spend more time making sense of it. Sadly, the Mac version is somewhat limited when it comes to advanced features, unless you splash out for the Home and Business edition.

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MoneyDance is very similar to Quicken in terms of its basic features, including the ability to create a budget with notifications for bills and invoices. It also allows you to make your own charts and graphs to monitor spending habits over time, which can be seen on the homepage for a quick glance of your activity. Out-of-the-box integrations with online banking services also make it easy to send payments.

Unlike Quicken, Moneydance has some more advanced features including an investment monitor, which tracks your investments and their fluctuations — a useful addition, although best for the intermediate to advanced user. The app also has a developer API system in place to allow extended functions, mostly good for power users. Importantly, security is not an issue, as Moneydance utilizes end-to-end encryption for your data to give you that extra peace of mind.

You Need A Budget, also known as YNAB, is budget tracking software that runs on both Windows and Mac via web — saving automatically to the cloud, which is a bonus for multi-platform users. It also features native apps for iOS and Android, so you can literally tackle your budget from anywhere.

The app itself follows a simple design language, which is perfect for beginners, but if you find yourself needing help you can sign up for a personal instructor. YNAB doesn’t let you slack at all, and if you start to stray from your budget, the app will raise a red flag through it’s built-in Accountability Partner.

Although YNAB doesn’t support the ability to download and automatically categorize records from bank statements, it could be argued that entering them manually helps the user pay more attention to where their spending is going. Still, it’s a more time-consuming process that might be problematic for users processing hundreds or more records each month.

MoneyWiz stays true to its name — a comprehensive budget software and investment tracker that’s packed full with over 400 useful features. View your financial situation quickly by browsing accounts, groups, or searching for individual records. Speaking of records, you can enter them manually or have them automatically sync with leading banks, cryptocurrency exchanges, and financial services for an accurate real-time understanding of your accounts.

With all of this data in hand, MoneyWiz can prepare and export over 50 reports to help you gain deeper insights into your finances. Your data could be accessed from its cloud-based app or straight from the native software for Mac. All in all, MoneyWiz is extremely powerful: accessible for beginners and interesting for the most advanced users.

Receipts is yet another money management software for Mac, and is specifically well-known for its clever handling of invoicing. Using Optical Character Recognition (OCR) technology, Receipts automatically reads and translates important information about your bills, such as amount, date, currency, and more (even if the text is in another language).

Besides, Receipts can issue payments for invoices directly using third-party providers, such as iFinance and BankX. The OCR technology alone makes it a strong contender against other more simple online budgeting tools. Not least, Mac users will be glad to see how this application was designed to look and feel like a macOS product. Using a familiar user interface could make life a little easier after all.

Between the five options above, you have a strong starting point for your budgeting tools depending on your experience. Remember that importing is one of the key features to look for in budget programs. Still, in order to find the best fit you might need to try a couple of different options.

Thankfully, both MoneyWiz and Receipts have a free 7-day trial that you can take advantage of by heading over to Setapp, an app subscription service for Mac that gives you access to over 150 macOS apps, including all the necessary budget tools. Getting MoneyWiz and Receipts at once? You won’t be disappointed.

Setapp lives on Mac and iOS. Please come back from another device.

Meantime, prepare for all the awesome things you can do with Setapp.

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Historically, Mac accounting software has been treated as a second-class citizen by the major accounting vendors (where they can be bothered with Mac solutions at all). MoneyWorks is the standout—designed on a Mac for a Mac (but totally cross-platform), it leverages the power and ease-of-use of your Mac and seamlessly integrates with other Mac apps.

MoneyWorks is widely regarded as the being the best (and most cost-effective) Mac accounting software available, scoring top (with a four-and-a-half mouse rating) in a recent MacWorld review.

“.. a product that meets or exceeds all the usual Mac native standards” —Carol, Virgin Islands

Features

Intuitive and easy

MoneyWorks was designed on a Mac and for a Mac, and adheres to the Mac user interface guidelines.

Native interface

MoneyWorks runs fully natively on your Mac. This is not a Java app or browser based, with all the trade-offs required. Instead you experience the full power of a modern Cocoa app.

Integrated

Money Works For Mac Computers

MoneyWorks integrates seamlessly with your other Mac software and services, including Mail, Contacts/Address Book and Enhanced Dictation. And with built in AppleEvent support you can streamline your workflow using Automator or AppleScript.

Money Works For Mac

Best of breed

MoneyWorks also integrates with other best of breed Mac business solutions, including Daylite, FileMaker, Numbers and MS Office.

Fully featured

MoneyWorks has all the features you would expect in a modern accounting system, plus a lot of power features that will make life easier—whether it is something simple like free-text searching, or advanced features like the built in scripting language for enhanced customisation.

Cross-platform

MoneyWorks also works on Windows, which is essential as it is the preferred platform of most accountants (who do tend to be a bit conservative!). So your Windows accountant (or Windows users in your own organisation) can access and update your MoneyWorks file, without messy file conversions.

In February 1992 MoneyWorks for Mac shipped on a single floppy disk.

Since then MoneyWorks has had decades of continuous improvement and enhancement.

MoneyWorks in 1992, when Windows 95 was but a twinkle in Bill Gates' eye.

“ I have been a Mac user since the original one was shipped to me on day 4 of its release. I have never used a PC. I have used 100s of programs, and migrated through many versions of most of them, some Mac native, some not. I HAVE NEVER, NEVER EVER found a company as responsive and helpful as you guys, with a product that meets or exceeds all the usual Mac native standards (never mind the awful Windows-to-Mac kluges). ”

—Carol, St Thomas, Virgin Islands

[danihost-blog]

Budgeting for Bling: How to Save for an Engagement Ring

Budgeting for Bling: How to Save for an Engagement Ring

Budgeting for Bling: How to Save for an Engagement Ring Meet Mac and Hannah.  (There’s a good chance you already know Hannah from her informative, engaging, and, frankly, adorable YNAB videos.)  Mac and Hannah met as camp counselors many moons ago. They went full rom com movie plot at that point—doing a dance rout… Read More…

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How to Get Out of Debt: Introduction | YNAB Debt Course | Video 1.1 "Learn how to Get Out of Debt (and Keep Out!)" Video Course: Welcome to the course! Meet Hannah and Ben as they provide you a style of what’s to return on this short-and-snappy course overview. Join a free trial! - Take a look at our e-book! - __________ Join YNAB’s weekly electronic mail publication with the week’s finest budgeting knowledge and inspiration! __________ Come say, "Hel... #budget #budgeting #debt #debt_reduction #debt_tips #how_to_budget #how_to_get_out_of_debt #how_to_reduce_debt_faster #how_to_save #how_to_set_up_ynab #introduction #pay_off_debt #video #ynab #ynab_for_beginners #ynab_getting_started #ynab_guide #ynab_tutorial #you_need_a_budget #zero_based_budget

[asfeedin]

Best Finance Apps to Manage Bills and Debts [2020]

You have the money, you have a bucket list, but that is not the end of everything. You need the right money management skills, lest all that you have earned will leave your side in the blink of an eye.

You start spending more than you make and keep piling up on ugly debts. Therefore, what you need to arm yourself with the right knowledge, or in this tech-savvy age, the right apps to be able to manage your finances with the utmost ease. 

Finance apps have been much in vogue these days, because well, you know, money matters. In fact, mobile apps have transformed the banking and finance sector. Thus, managing our accounts, too, have become comfortable with these apps.

This article brings together a comprehensive list of the best free financial planning apps that stirred up the air, for all the right reasons, in 2020.

Top Finance Apps for Android and iOS in 2020

The following are the best personal finance apps for iPhone and Android that comes packed many features. Every app is reviewed by us in-depth and to make it clear to you, we have even mentioned the category for the same.

Let’s deep dive into the landscape of finance.

1. You Need A Budget (YNAB): Best for Debt Payoff

You Need A Budget helps you stay within the confines of your income and understands that everyone has a budget constraint. The best budget app does not advise you to think or plan for different ways to earn something extra. It instead helps you analyze your budget and plan practical ways to deal with your expenses and mitigate financial issues if they crop up. 

The app is a brilliant personal finance manager that helps you manage every penny. The app’s usefulness lies in the fact that it has helped its users clear off their debts with proper planning and account management.

Also, it has the option of taking up online classes that coach you on budgeting and planning expenditure. Therefore, if you do not have the skills to use the app or plan your budget with its help, reach out for live coaching.

Notable features of the best budget app:

Connect all the accounts in one place;

Detailed, visual spending and trend reports;

Real-time access to all the budget data across multiple devices;

Match up imported transactions and more.

Price: Free 34-day trial, then $6.99/month (billed annually at $83.99)

You can download this best finance app for iOS and Android

2. Wally: Best Tracking Expenses App

More often than not, we indulge in buying splurge and then forget to record it. By the end of the month, when we have nothing substantial left, we are left wondering about where all the money went. Here comes the role of Wally app in managing the expenses.

Wally is one of the best finance tracking apps and is the right platform if you loathe entering in your expenditure manually. The app shall do the job for you if you take pictures of the receipts. You, therefore, do not need to work your brain up thinking where you have spent your money. Keeping track of your expenses is pretty easy with this app, and it helps you keep your finances organized.

To make it easier for the users, the app also has a simple plan that can help individuals and families in three steps:

Understanding of the users’ pre-crisis spending

Following a budget to increase savings during the crisis. For those that have lost income, what to do about creditors. 

Post-crisis recovery and returning to normalcy

Notable features of Wally free finance app:

Finance insight charts for better understanding;

Helps in improving the net income over time;

Syncs all the accounts in one place;

Keeps track of foreign currency accounts and more.

Price: Free

You can download this best finance app for iOS

3. Robinhood: Best Investing App

Robinhood is an app that comes in quite handy for those who are newbies in investing. If you want to earn the ropes of investing or if the stock market piques your interest, you could keep a daily tab on the news about the investing market at Robinhood and MarketReview. 

The app furnishes you with market information cut down to the minute and thus, keeps you updated and enlightened. What you do with all the information coming your way is your choice. You get to call the shots regarding investments.

Notable features of the Robinhood free finance app:

Commission-free investment;

Offers real-time market data;

Cutting-edge security measures to protect investor assets;

Collaboration with top banks and more.

Price: Free

You can download this best finance app for iOS and Android

4. Acorns: Best App for Easy Saving

Acorns is probably one of the most interesting apps that has made its way into the list. It is a boon to humankind in the most real sense of the word. Once you’re connected to the best money management app, it automatically invests wisely in a low-cost ETF by taking into account your risk preference.

Once you have made a purchase with your card, and are connected to the app, it rounds up the expenditure and invests the difference in the ETF.

Notable features of the Acorns best personal finance app:

Automatically invest the spare change from everyday purchases;

Articles and videos from financial experts;

No low-balance or overdraft fees and free or fee-reimbursed ATMs nationwide;

256-bit encryption, and more.

Price: $5 to begin investing; account management fees start at $1/month.

You can download this best finance app for iOS and Android

5. Personal Capital: Best for Investing

If you are up for investing your hard-earned money to make some assets, then the Personal Capital app is best for you. With this app, the user gets customized advice tailored specifically to the set goals.

Apart from the investment advice, the app works similarly to other finance management apps and track all the financial details. The app offers unlimited withdrawals that too, with no fees and no minimum balance.

Notable features of Personal capital app:

Free online money tools

Insight-driven advisory

Personalized portfolio management

Fiduciary advice with transparency and more.

Price: Free

You can download this best finance app for iOS and Android

6. Coinbase: Best Cryptocurrency App

Coinbase is a popular digital currency exchange platform, and now we have its app. The app is ideal for anyone who is into cryptocurrencies and looks forward to investing more in virtual currencies. The app deals in Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and more.

Coinbase takes the security aspect seriously and stores 98% of cryptocurrencies offline, and for the rest, the platform engages multi-stage verification and bank-level security. If the user is new to the crypto-trading, he is free to kick off with as little as $25.

Notable features of the Coinbase app:

Automatic buys and price alerts;

The assets are secured by the industry-leading online security;

Can buy and sell mostly all the popular digital currencies;

Tracks currency values throughout the day and more.

Price: Free

You can download this best finance app for iOS and Android

7. Birch Finance: Best for Earning More Rewards

Tracking bills and making payments is something every other finance app can pull off, but do they reward the user for completing the tasks? We guess not. Birch Finance is one such app that offers rewards on credit card payments.

The user can even tell the app about the rewards he wishes to grab, and then the app comes up with the cards that match the reward requirements. Even for shopping at the nearby stores, Birch can well suggest the cards that along with an up to date list of the active bonus categories. 

Notable features of the Birch best finance budget app:

Tracks spending of all the accounts;

Bank-level security;

Compares the spending to over 100 reward-earning cards

Recommends cards depending upon the spending habits and more.

Price: Free

You can download this best finance app for iOS and Android

8. Prism: Best for Paying Bills

If you have multiple accounts and find it tough to hold all your transactions together, it’s time to opt for the Prism app. Prism brings all the bills and financial activities into a single platform. The user only needs to feed all the bills into the app, and the app automatically tracks the due date of all the payments.

For more ease, the user can even schedule payments. The app has over 11k billers that include both larger banks and smaller utility companies.

Notable features of Prism best finance budget app:

Track bills, monthly expenses, money & debt;

Bill pay alerts and bill reminders;

Bill calendar & payment calendar view;

256-bit AES encryption, and more.

Price: Free

You can download this best finance app for iOS and Android

9. Mint: Best Overall

Mint is the last app in our list of the best financial management apps and is apt for almost every financial process. Due to its features and functionalities, we consider it as the friendliest and easiest apps to manage the finances.

You can connect all your bank accounts and cards, and keep your bills in one place. Mint sends you reminders regarding your due dates for paying bills, while also allowing you to create and follow a budget. Minting money with Mint can be quite a thing once you know how to manage all of your hard-earned money.

Notable features of the Mint top personal finance app:

Track bills right alongside the account balances;

Create a budget for the user;

Push notifications for the payment reminders;

Sync the bank accounts, credit cards, budgeting, and more.

Price: Free

You can download this best finance app for iOS and Android

10. Venmo: Best Cost-Splitting App

Bill splitting is something that every one of us needs to do, and it can sometimes leave you just clueless. Due to the same reason, Venmo is quite popular with millennials. It quickly calculates all the spending and shares the due amount with everyone who is in the group.

The interface of the app is similar to that of Paypal but is different from it in many ways. One such USP of this app is its ability to share and like payments through the social feeds. The transaction limit of Venmo is set at $299.99.

Notable features of Venmo best personal finance app:

Tracking and sharing on all the expenditures;

Easy money transfer;

Split the spending the share with friends;

Encrypts all the transactions and more.

Price: 1% on all the electronic withdrawals and 3% on money transfer to others

You can download this best finance app for iOS and Android

Final Thoughts

These are the best financial management apps that must find a place on your smartphone. These apps have made it so easy for us to become smart about our money that you no longer have to worry about entering your expenditure manually, or calculate your debts and then wonder at the end of the day how all your earnings disappeared into thin air.

Get your hands on these top finance apps of the year and make smart moves while handling the finances.

Written By

Vikram is an experienced wunderkind, who embraced technology at a very early age, and today he is at the helm of it. Mobile apps are something that excites him the most, and now he is up to give this vertical the best shot. He routinely catches up with the new apps and comes up with the top apps that can excite you to the core.

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Tags: 2020, Apps, Bills, Debts, finance, Manage

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