Best Money Management Apps For iOS and Android

When it comes to personal finances, there are two types of tools you should know about: budgeting tools and money management tools. The budgeting tools include things like printable budget planners, budget worksheets and online budget calculators. Money management tools mostly come in the form of money management apps rather than worksheets, because money management encompasses more complex operations – it is about a lot more than just making sure that all your bills are paid each month. Most money management apps include features for investments/portfolio management, savings management as well as the management of monthly expenses and income. If you want to finally be able to take full control of your finances, to pay off bad debt and actually start investing and/or saving, then it’s time you learn more about these tools and start making use of them!

In this day and age, it is easier than ever to get your money to work for you. Work smarter, not harder has become the cry for many people in the digital age. With many choices in apps, the small investor can get expert advice on investments and watch their money grow for a nominal fee. This should be something that we all look into for our futures. With retirement benefits from the governments being what they are, if the average person today does not have a plan or any money saved, it will be very hard for them to live their golden years without fear.
Financial management in the digital age with on the spot information with money management apps.

If you are a total beginner with money management tools and you don’t really know much about personal finances, then you should probably start with a budgeting tool before you move on to a money management app. The great thing about budgeting tools is that many of them are designed for beginners, making it easy to start tracking and planning income and expenses. In addition, budgeting tools come in many varieties, so it’s easy to find the budgeting tool that’s right for you. If you are comfortable working with Windows Excel or similar programs then you should download a detailed budget worksheet. If you aren’t that comfortable with such programs then you could use a printable budget template. Another great thing about budgeting tools is that most of them are available online for free! So, if you really want to improve your financial situation, all you need is some time, a willingness to learn and an Internet connection.

Best Apps To Manage Money

After you’ve created and followed a monthly budget for at least six months in a row, you are ready to move on to money management apps and take the next step in the improvement of personal finances. Money management apps differ from one another in terms of the services they provide as well as in price. Since they are more advanced tools than the budgeting ones, money management tools are rarely available for free, with most apps generally falling in the $15-$50 range. This variety in price is due to the fact that apps can be very different from one another – some of them specialize in retirement savings or investment management, some allow you to connect one or multiple of your accounts to the app while others don’t, etc. Here is an overview of some different money management apps that have helped thousands of users whip their finances into shape.

Financial planning needs to start as soon as possible in order to secure your future. If you have debt, you have got to figure out a way to get it payed down and save some money so that you can start investing properly. With the right tools and applications, you are able to easily invest and watch your savings grow. Plan wisely, become more financial responsible and take it into your own hands. There are so many ways to save money and pay down debt but it all starts with a good plan, a realistic budget and a change in your spending habits. Here you will find all of the tools you need to start.
It all starts with planning properly

Learnvest is an app that allows you to track day-to-day activities with its budgeting features, but also the app forces you to think about the bigger picture – savings and investments. For a monthly fee, you get a personalized financial plan based on your financial goals. In addition, you have the opportunity to chat with financial professionals and consult with them on big decisions involving money, such as buying a house.

Betterment is one of the most acclaimed money management apps that specialize in investments. It’s a user-friendly app that takes into consideration your tolerance to risk and your investment goals. Once you’ve set up your profile and connected the app to your accounts, you should set up automatic monthly withdrawals that you’ll use for investing through the Betterment app. As for investment options, you have the possibility to invest in six stock ETFs or in a predetermined basket of bonds. One of the best features of this app is that it constantly gives you advice on what to do to achieve your goals faster, as well as updates on how close you are to achieving them at the moment. A lot of users find this feature helpful, instructive and motivating.

Lastly, Acorns is one of the most popular money management apps because it is very simple to use and it works on a set-it-and-forget-it system that doesn’t require much involvement at all. All you need to do is link it to your accounts and it will do the rest. The way it works is that the app rounds up your purchases to the nearest dollar and then takes the change and invests it in six different funds. Of course, it also takes your risk tolerance into consideration. With its low fees, Acorns is one of the most cost-effective ways to have diversified investments.

Here are the very best money management apps

These are only a few of the many money management apps available on the market right now. By doing a bit of research and reading reviews, you can find the apps that fit your financial goals best. Then, you’ll be one step closer to bigger savings and investments, lower debt, and well-balanced monthly budgets.

How to Implement a Cash Envelope System

 

The only hard thing about implementing a cash envelope system is making sure you stick to it. With the right mindset and determination to save money, this type of system can be very lucrative. To keep you from overspending your "allowance" you can set a daily limit that you are allowed to spend. In case of a true emergency, I have a $50.00 folded into a square and tucked away deep in my pocketbook, so deep in fact, I am sure it would take me a good ten minutes to find it. That aside, I have my normal, usable cash directly where I can find it, in case I need something throughout my day. Need is the key word here. If I do not need something, that money stays right where it is and is considered a savings later. Just by keeping track of mindless spending and being more frugal, which means more thoughtful about the use of money or resources, one can build up a savings in no time.
Start saving money through a Cash Envelope System – its quick and easy!

There you are, sitting in the drive thru at Starbucks. You already placed your order and they are making your venti caramel Frappuccino. You start searching through your wallet, gathering as many coins as possible. Unfortunately, you are a dollar and three cents short. It strikes you! You don’t have enough cash to pay for your delicious drink. That venti caramel Frappuccino…  In guilt, you pull out your credit card and pay for the drink with plastic. You just added more debt into your life. All this stress could have been avoided by using cash. Specifically, all of this could’ve been avoided by implementing a cash envelope system.

Implementing a Cash Envelope System

Set the budget.

So you’ve decided that it’s time to have a money system in place. With a budget that is properly adjusted, you’re months will seem so much easier. Your days will seem much less stressful. You know how much money you have and there is no way to spend more than necessary.

Incomes vary from person-to-person. It is up to you to figure out an amount that you are comfortable spending each month. This amount will then be divided into multiple categories.

Pick the cash categories.

It’s important to budget correctly for categories such as groceries.

The different cash categories are arguably the most important part of the cash envelope system. The categories are the framework of the system. To pick your categories, sit down with a pen and paper and record a list of all the expenses you have throughout the month. Start thinking! When I was first creating my system, my categories were as follows:

  • Automobile costs
  • Childcare
  • Rent
  • Groceries (mmm food)
  • Club Fees
  • Taxes
  • Utilities
  • Savings

In the same way that income varies, the categories will be different depending on who you are and what you do. Do you really like Starbucks? You can create a separate envelope dedicated to that.

Keep in mind that mortgage payments, rent, or just about anything that you’re only going to be paying once do not need to have envelopes.

The best cash envelope system available right here

Make or buy the cash envelopes.

Budgeting with a cash envelope system is great for many reasons. It keeps you from using plastic and putting yourself more into debt. It teaches you to be more thoughtful about how you spend the cash you have. It allows you to know with a glance that your expenses are covered and just how much you have saved at any given point. This is a fantastic idea for someone at the beginning of a frugal lifestyle journey and you might find that it helps you so much and gives you so much control over your available cash that you keep doing this for life. Many people are using the cash envelope system today - some may use it like we said and some may have other ways of doing it. However you decide to use your envelopes - use them. Using them is the key to saving.
You will have your Piggie Bank full in no time by using budget cash envelopes!

The envelopes themselves are also super important. You’ll want one envelope for each category that you come up with. I’ve seen many people create their own envelopes out of office paper. Of course, you can just go online and buy the cash envelopes.

You’ll be stuck with these envelopes for a long time. You want them pretty, you want them perfect. Most of all, you want them to be functional. With making your own envelope, you are able to make it just the way you want it to be.

You can even do things like placing an index card on the front of the envelope and record all the transactions in and out of the envelope. At the beginning of the month you might put in $300, so you can record that as a transaction going in. As you spend, you record the money leaving the envelope. This way, you don’t need to constantly count how much money you have left!

Spend and adjust.

Your first month with your awesome envelopes will not be perfect. I know that mine wasn’t and nor were the experiences I’ve heard from family and friends. It takes time to get used to having limits. I highly recommend that you keep a notebook by your envelopes. You can use this as a personal journal; record the flaws and the positives of the system. What do you like most about it? What would you change?

If you felt that a certain envelope needed a bit of extra money, you should write that down. At the start of the next month, you can easily change around the cash that each envelope gets.

It is super important to enjoy your money. If a particular category feels like too much of a restriction, nothing is stopping from changing just how big that restriction is.

As the months pass, you will gradually adjust certain aspects of the system, making it your very own. One system might not work for another person, so having an individualize envelope system is crucial to making it work for you.

Benefits of Using Cash Envelopes

Spend Less Money

This is probably one of the major benefits of the cash envelope system. It is simply impossible to go over budget and it controls your mindless spending. With the system you are able to truly understand how much money you have. You realize how much money that you waste.

You don’t have to spend all the money in your envelope. In fact, you really shouldn’t. At the end of the month, you can take the remaining cash and put it into savings, investments, or grow your emergency fund.

Simplest Budgeting System

A cash envelope budget can be so easy. Most people figure out how much cash they can have for an allowance they have to get them from paycheck to paycheck. I go a step further with this and set a daily limit and have my allowance split up into envelopes that are marked with the days of the week. If I do not spend my daily allowance, I leave it in the envelope for that particular day in the following week. In that way, I have some idea of how much I am able to put into my savings envelope just from this source on a daily basis. When I add money into my "savings" envelope at the end of the week, I make sure to note where that money came from. If I have different sources of money going in, each source gets its own deposit line. In this way, you can track exactly where your money came from and you will know where your best sources for saving come from. If you save money during your weekly trip to the store, any extra should be deposited into savings with a deposit note showing it was from the weekly grocery budget.
Cash Envelope Budgeting Made Easy

The reason why the whole cash envelope thing is so popular is because of its simplicity. Anyone can understand the basic principles of the system. There are no advanced spreadsheets; your budget will not be adjusting throughout the month.

What you have is a handful of envelopes. It’s a very tactile concept. You spend an hour setting up your wallets, and it’s good for the rest of the month. It’s all about setting and forgetting.

Impossible to Go Over Budget

As I said previously, it is impossible to go over budget. Everyone will have different meanings of “going over budget”, but for me I am able to stick to how much I put into the wallet. Of course, it is very possible to add some more cash ‘magically’ to your wallet, but cheating is no fun. You are only cheating yourself.

Controls your Mindless Spending

When you look at your money inside the wallet, you realize that you do not have as much as you originally thought. Having a credit card in your hand and having a $20 bill in your hand comes with two entirely different mentalities. With the credit card you are just spending an invisible number, with cash you can see and you actually physically spend the money.


Envelope Budgeting in Conclusion

It’s a great idea and you will not regret doing it. If you follow advice given by Budget Pronto and others around the web, you should have a fairly solid system set up in a few days.

Critically think! Some things may work for you and not work for others. Create something that you enjoy, as life is meant to be enjoyed and loving.

Go ahead, start your cash envelope system. What’s holding you back?

Compare Supermarket Prices to Be Budget Conscious

In order to avoid spending traps while comparing supermarket prices for your frugal lifestyle, you should make sure that you plan carefully by making a menu for every day of the week. With your weekly menu thought out, you can from there see what you have for it already in your home and then make a shopping list of items that need to be purchased. With the shopping list in hand, look at all of the stores and shops in your area to see who has the best deals for every item on your list. Try to figure out if it makes sense to shop for items in more than one store by figuring out how much gas you would use for your car going from one store to another as well as how much time you would save by running from one store to another. When I first started my frugal lifestyle I went shopping at one store, bought everything I needed for the house and the kitchen while compare supermarket prices to get the best deals. After that, I figured out what kind of meal plan I would make for the rest of the month, splitting it up into weeks so that I could maximize variety and savings. I figured out how to compare supermarket prices in my area but, also kept an eye on the weekly deals at the small, local shops. Wherever the deals came up on things we needed for the next week I would go there. It pays to take smaller trips every couple of days if you do not have to go out of your way and waste gasoline and wear and tear on the car. If you can use a bike to do your smaller grocery trips, not only will you get some much needed fresh air, you will get in some exercise and make good frugal living choices.
Always compare supermarket prices, look for the best deals to fit your frugal lifestyle.

Nowadays, with our fast-paced way of living, most people buy their food, cleaning supplies and toiletries at supermarkets. This makes sense since supermarkets are easily accessible, convenient, and often they offer a lot of great deals. However, it is also worth noting that supermarkets are also highly sophisticated marketing environments, designed in a way that encourages spending. Thus, if you are starting a frugal lifestyle, you need to be careful while shopping at the supermarket. The trick is to take advantage of the convenience, variety and great deals offered by supermarkets, without falling prey to frivolous spending pressures. There are several steps you can take to maximize your savings and convenience: plan ahead, compare supermarkets prices, and use up your coupons.

The first two steps, plan ahead and compare supermarket prices, are complementary. Planning your food consumption ahead is beneficial for two main reasons – it prevents you from overstocking on perishables and wasting food and it allows you to analyze which supermarket offers the ingredients you will need at the best price-to-quality ratio. Both of these will have an immense effect on your food and toiletries expenditure. According to the U.S. Department of Agriculture, the average American family of four wastes $2,275 worth of food per year! This is a completely unnecessary expense that can absolutely be avoided with a bit of care and planning ahead. If you need even more motivation, then think of the total monetary costs of handling this waste and the environmental damage that is caused by it!

Planning your food consumption ahead is also a great way to control what you buy and eat. For example, if you do your shopping while you are hungry and with no specific shopping list, then you are much more likely to make impulsive buys or resort to unhealthy shacks, frozen pizzas and other fast food. Whichever way you look at it, there are plenty of reasons why you should take the time and pay more attention to your supermarket spending. It begins with planning ahead, and once that is done the next step is to compare supermarket prices.

Why should you compare supermarket prices?

grocery price comparison should be something that everyone does out of habit. The majority of the time, you can find quality items on sale. Most stores have a house brand or generic items that are of the same quality as the major brand named products. If there is a generic paper lable on something, try peeling it off to see what is underneath. We did this as an experiment once in a class I had in school. We were all very surprised when our teacher peeled off a generic lable on a soup can and found that it was in fact a major brand with the generic lable on top. Most generic items have cheaper prices than the sale price of any major brand which when purchased will help you to stay within your frugal lifestyle.
You should always compare prices while grocery shopping

Nowadays, it is very easy to do so online, from the convenience of your home. Online tools allow you to enter all the items you will be putting in your shopping basket this week and then they give you a fairly accurate approximation of how much that basket would cost at various supermarkets. These tools even allow you to do your shopping online, thus saving you time as well, but if you aren’t comfortable buying food online then you don’t have to use that feature. Since this is such a convenient way to consistently save some money on food, toiletries and cleaning products, you should definitely take the time to look at the different prices at various supermarkets.

If you are living a frugal lifestyle, it is important to not only compare supermarket prices across different supermarkets but also across brand categories. Most supermarkets offer great variety in terms of branding for a lot of products. Usually, you will find premium, branded, own brand and value versions of a lot of consumer products. There is always a significant difference in price among the different versions, but not necessarily so in terms of quality.

While the branded products will probably be the same in all of the bigger supermarkets, the own brand and value versions are probably going to be different. For the biggest savings, it is really worth taking the time to sample the cheaper versions of the products you use often from various supermarkets. Especially in the case of snacks, sweets, pastas, toiletries and cleaning agents you should be able to find cheaper alternatives that are just as good as the branded ones. Nowadays, there are even online communities which rate the qualities of cheaper own brand versions against the branded version, so you can benefit from the analysis without testing all the different versions yourself.

You can save hundreds of dollars per year on shopping while you compare supermarket groceries. After finding the best prices on items you need apply any coupons you have to make the prices on items you need at home even lower.
Coupons are a great way to help you with your frugal living.

Have a look at the best available solution

Lastly, using coupons for your supermarket purchases can also help you lower your expenditure on food. There are many websites which provide printable and online coupons for all kinds of products, but mostly for supermarket purchases. You can also look in local newspapers and the Sunday paper, which comes with three different coupon inserts on a regular basis. You can plan your food spending ahead and then try to find coupons for the ingredients you need at the supermarkets available to you, or you can first research what kind of coupons are available for the next week and plan your meals around that, whichever way is more convenient for you. And very soon you will realize that when you plan ahead, compare supermarket prices and use coupons, you will be more mindful of supermarket spending and you will enjoy considerable savings week after week.

Save Money by Grocery Shopping on a Budget

grocery shopping on a budget saves you time and money for many reasons. You take with you only the money that you need for what is on your list. That means, you will only buy the items you need because you have only allotted yourself a certain amount of money. Stay firm with your frugal living plans and you will save money.
Grocery shopping on a budget helps you stick to your shopping list.

Whether you want to start living more frugally, pay off debt or save up for a high-ticket item, living on a budget is a great way to achieve your financial goals. Food is one of those expenses that we have on a regular basis, and yet we don’t really think about how much it’s costing us. If you’re trying to cut down on food spending and save some money, then you should probably substitute eating out and fast food with home-cooked, low-cost meals. Doing your grocery shopping on a budget is the best way to lower your expenses even further, so here are some tips and tricks that will help you keep to the budget and make the most of it.

If you’re looking at your expenditure on food and disliking the fact that food expenditure takes up a lot of your monthly budget then imposing a strict restriction on your food expenses can make you more efficient and save you some cash. If you set a predetermined amount to be spent on food each month then you will have a bigger incentive to buy affordable ingredients as well as to make sure that no purchase is made in vain. Both of these activities in combination can lower your food expenditure by one quarter or more. Thus, doing your grocery shopping on a budget can be a great way to save some money.

save money on grocery shopping with frugal living.
Cooking fresh meals increases the quality of frugal living while. you save money on grocery shopping.

Being Creative Shopping for Groceries on a Budget

At the same time, grocery shopping on a frugal living budget will require you to be creative and resourceful if you want to enjoy great taste and food quality at a lower price. Doing the grocery shopping on a budget doesn’t automatically imply that you can only afford to buy cheap ingredients. If your budget is big enough, then of course you can afford more expensive ingredients as well. However, if you want to minimize your expenses on food, the best way is to use a lot of staple ingredients which are low-cost and store well, and then elevate the taste with herbs, frozen vegetables and fruits and more expensive ingredients when they happen to be discounted. Great staple foods include rice, quinoa, legumes, pasta and potatoes as well as frozen and canned fish. This ingredient list is very versatile and allows you to create all kinds of different meals which are tasty, nutritious and inexpensive.

Make sure to get the best prices on seasonal produce by looking at volume prices. Frugal living means only buying what your household needs in order to save money for the things you want to do later.
Your grocery shopping list should include seasonal produce which helps you at the checkout!

The best way to make sure you don’t overspend while you’re doing the grocery shopping on a budget is to shop from a shopping list. The act of already having selected what you really need to buy before you get to the supermarket is going to prevent you from making impulsive purchases and buying food that you won’t eat. You must keep in mind that supermarkets are marketing environments that want to get you to spend as much as possible. Everything from how the products are laid out to the sounds and smells in the supermarket is made to encourage spending by the consumers. The best way to resist the subtle temptations is to stick to your list.

Here’s another tip – when you’re grocery shopping on a budget, one of the easiest ways to get more bang for your buck is to make use of grocery price comparison tools. These tools allow you to enter all the items you need in a virtual shopping basket and then they give you an approximation of how much that basket of goods will cost at various large supermarkets. Not only that, but many tools also show you cheaper alternatives to the products you’ve selected. Even if you’re not willing to downgrade a brand level, these tools can help you buy the exact products you need from the supermarket where the price is lowest.

Save Money by Grocery Shopping on a Budget

Lastly, shopping for fresh ingredients when they are in season is an affordable way to enjoy variety while grocery shopping on a budget. If you buy fruits and vegetables that are out of season then you are also paying a premium that covers the extra shipping costs as well as the convenience of eating food that is out of season. Conversely, fruits and vegetables that are in season sell at a discounted price compared to other fresh produce which allows you to make a variety of low cost meals. This makes them a great addition to a well-balanced, frugal living, low-cost menu.

Online Grocery List Maker and Printable Grocery List

out of all of the inventions of this century a grocery list maker takes the cake. This little time and money saving idea can really help you on your frugal living journey.
Grocery list makers keep you from buying too much or too little at the store.

Everywhere around the web, I see people searching for a grocery list maker. If you are one of these searchers, you’ve landed on the right page. We are going to show you the ultimate shopping list generator we’ve ever seen. If you want to make a grocery list, it is really simple. You just need the proper tools and that is exactly what BudgetHub is going to provide.

A grocery list will generally change each shopping trip, unless you have your pantry super organized. I have a buddy who buys his food in bulk by listing all the types’ food he needs for the month. He then continues to freeze the produce and put everything into storage. Each month he is able to go to the supermarket with the same exact list. However, this is not realistic for most people so in order to efficiently buy groceries; one will need a grocery list maker.

With a proper grocery list template, it is simple to just fill out everything you need. You might even get some ideas while looking over the template. Say you put down milk; you might see that there is also a field to fill out for eggs. You check your fridge and you have no eggs! You can then fill in that you need eggs. It is really as simple as that to create a standard grocery shopping list.

With frugal living being a major issue today there could be no better idea than the printable grocery list. There are two main types of free grocery list makers: online and printable. We will be covering both and for the most part, both types of list creators have the same exact advantages and disadvantages. If you choose to use one of the options that you find on BudgetHub, it is most likely the case that you are going to be able to save money. If you organize your shopping list, you’ll be able to find coupons that you need more easily. We’ll be covering couponing more in depth in future articles.

Free Printable Grocery List

Below you will find our customized free grocery list maker. It is really simple to print. All you need to do is click and find your browsers ‘print page’ option. Share this with you friends if you find the template useful. We will also go over more printable shopping lists in a later post.

Grocery list making template. Print now!

a printable grocery list has become the standard for many people these days. There are even those who use Excel to save their personalized lists according to the meals they plan for each week out of the month which initially requires some time and effort but the end result is a weekly list tailored to your needs which saves you money and fits well into any frugal living situation.
A printable grocery list saves time and possibly trips to the store for forgotten items.

The printout consists of three templates, all pretty equal in width. There are many different boxes filled with lines. You can fill out the ‘Frozen Food Aisles’, ‘Non-Food Items’, ‘Dry Food Aisles’, ‘Reminders’, ‘Produce Section’, ‘Dairy Section’, and ‘Meat Section’ boxes. I gave this printout to a friend and he requested a few because he found it to be super useful.

Online Grocery List Maker and Template
This is our top recommendation

There are many spectacular options for online grocery list makers and we’re going to go over a few. There are tons of grocery list making apps available on the Google Play Store. To be honest, you should be able to find a nice little tool by using Google and just searching for a list creator. That is exactly what I have done for years and I will continue doing it.

I honestly prefer to use a printable shopping list. It’s a lot nicer sitting down with a piece of paper and a pen and letting my brain flow onto the template. I mean come on! You’ll save more money using the printout shopping list than it will cost to actually print.

By searching online, you can find grocery list maker that are excel based. Some are aisle by aisle and some focus on the food groups. You can do this on a budget. If creating one of these grocery lists wasn’t cheap, we most definitely wouldn’t be featuring a tutorial on BudgetHub for goodness sakes!

Live a Free Life with Proper Personal Financial Management

personal financial managementThe management of personal finances is something each of us does on a regular basis, and yet it is a skill that isn’t taught in schools and we mostly pick up on our own, usually as freshmen newly in charge of all our major expenses. With this in mind, is it surprising that many people are struggling to take control of their personal finances? It seems like we just have to make certain purchases, afford certain things, splurge on this and that, and before we know it we find ourselves in a lot of debt and without any savings at all. If you want to break out of this cycle then the first thing to do is to learn about personal financial management. This article will introduce you to the basics – why it is so important, what the main principles are, and what kind of tools you have at your disposal to help you manage money better.

Personal financial management is all about keeping track of your financial obligations and planning your expenses in advance before they occur. The purpose is for you to not just be in charge, but also be fully aware of how much you are spending and what you are spending on. For example, if you were asked right now how much you spend on food per week, you would probably be able to give a rough estimate. But if you actually carry out the calculation, you will probably be surprised by the result. Most people’s rough estimates underestimate actual expenses, not just on food but on most other things too. And the miscalculations add up, resulting in considerable amounts of credit card debt. This kind of debt could have easily been avoided by better planning and an emergency fund, but once it piles up it is much more difficult to deal with. For one, interest rate payments are a totally unnecessary drain on your income.

Personal Financial Management and Budgeting

personal finance managementWith budgeting, a key tool for personal financial management, you have a much better overview of your financial situation at the beginning and at the end of the month. Most budgeting tools track both budgeted and actual income, expenses, savings and investments. Thus, it quickly becomes apparent whether you are overspending and on what. More than that, budgeting will make you realize that every dollar you spend is significant. Naturally, you will start thinking that if you decreased your spending in certain categories by a just a tiny bit, the savings would be considerable. When you have a bird’s eye of view of the situation, you are much more likely to actually make small cuts wherever possible and get the most bang out of your hard-earned bucks. Just by putting in some effort to make a reasonable budget and stick to it, you will be spending money more efficiently and eliminate a lot of stress from your life – when you’re operating on a budget, you are much less likely to dread paying the bills each month.

The best thing is that when it comes to personal financial management you don’t have to start from scratch. Personal financial management tools are becoming more and more available every year. They come in a variety of forms, including computer software, mobile apps, Excel spreadsheets, printable budget calculators, online calculators, and so on. The basic types of tools are simple to use and allow you to track planned and actual expenses and savings.

More advanced versions offer other features as well – they allow you to connect bank cards to the software in order to have every transaction appear in your budget automatically. Also, a lot of them provide graphs and charts tracking your net worth and budget compliance. Many also provide saving money tips for all kinds of expenses. Prices vary, but the vast majority are certainly affordable, and many such tools are free to download and use.

what is personal financeIn addition to budgeting tools, there are other specialized tools that help with personal financial management in terms of savings and investments. Many of these are intended to simplify the investment process by saving you time and providing you with expert advice for a fraction of the cost. For a monthly subscription fee, they will give you recommendations on how to adjust your holdings in ETFs and other funds and some tools will even perform the transactions for you as well.

Thus, today we have a wide variety of personal financial management tools that do not require you to be a financial expert to use. In fact, they are developed in such a way that everyone can understand and use them. Using these tools consistently will make it much easier to take control of your spending, increase your savings, and optimize on investments. So browse your options, read the reviews, and pick the tools that best fit your lifestyle and your financial goals.

Here is our ultimate guide on personal financial management

How to Live Cheaply With Less Income

Living Cheaply Due to Low Income

Nowadays, a lot of people can find themselves in a challenging financial situation, facing the need to significantly cut back on expenses. It may be due to having no job, having a low-paying job, or having a lot of debt to pay off. On the other hand, there are people who don’t have to cut back on spending, but they do it anyway in order to pay off their debt early and save on interest or save up for a high-ticket adventure.  For those reasons they need to learn how to live cheaply.

This just goes to show that economizing with household expenses and income is an important concern of every prosperous household. And even though economizing doesn’t always mean living on the cheap, sometimes doing exactly that, even on a short term, will be necessary to overcome financial difficulties. Thus, this article will describe the best tips and tricks that will help you living on less and make the most of it.

living on less

When you’re learning how to live with less and make the most of it, the first thing you should do is to start using a monthly budget calculator. That is an online tool which is useful for planning expenses, income, and savings. More importantly, using a budget calculator makes you more aware of your financial situation and you are more likely to take control of it if you are facing your financial obligations each month. It may take time to get used to the idea of making and following a household budget every month, but soon you will see that it’s easier to do than you thought.

Advantages Of Living with Less

A big advantage of using the monthly budget calculator is that it will make it apparent how much you spend on things like food and housing each month. One of the best ways for living with less is to reduce your expenses

frugal living
Living Cheap Has It’s Rewards

on these things. Reduce housing expenses by renting a smaller house, an apartment instead of a house or just rent a room.. Or if you own your apartment, then you should find a roommate. If you are really pressed for cash, you could even look into living with an elderly or handicapped person. In that type of deals the rooms come a lot cheaper if you agree to occasionally do a few things around the house.

Regarding food expenses and how to live cheaply, a lot can be said about buying in bulk and buying most of your food online. This will allow you to buy most of your ingredients at steep discounts. And what kind of food should you be buying? Your budget-friendly shopping list should include frozen vegetables, canned foods, and legumes. All of these are pretty cheap to begin with, they store well over time, and they’re even kind of healthy, especially the lentils and beans!

Furthermore, they are easy to cook, for example in a stir fry, and you can achieve a lot of variety by mixing in different combinations and some herbs. If you have some free time on your hands, it would also really pay off to get a job in the culinary career while you’re in financial difficulty. A lot of people are able to secure one meal of the day for free at the restaurant where they work.

Education Matters when Learning to Live Cheaply

how to live cheaplyWhile you’re learning how to live cheaply, you should also look into improving your financial literacy and understanding of personal finances. It will not only speed up your financial recovery but also prevent you from getting into a similar situation in the future. The two most important things to learn are how to allocate the cash you do have intelligently and how to put together a debt elimination plan.

If you need to learn living on less odds are you are in a lot of debt, but if you don’t have debt, then work on your savings instead. And remember, being frugal is about how to live cheaply and not waste any money, but that doesn’t mean that you shouldn’t allow yourself some fun once in a while! Don’t forget to allocate some funds for fun in your monthly budget – you need to motivate and enjoy yourself for all the hard work you’re doing!

Here is our ultimate guide on how to live with less on a budget

Money Management Tools – Best Way To Save Money

best ways to save moneyUsing Money Management Tools To Save Money

The vast field of personal finances entails everything from income, expenses, and savings to taxes, loans, mortgages, investments, and retirement funds. With this in mind, it shouldn’t be surprising that many people are finding it hard to manage their finances well and make the most of what they have without hiring professionals to do it for them. However, over the past few years, the management of personal finances has gotten a lot of attention, with the effects of a global recession emphasizing the need to make every dollar count. This led to the development of money management tools that are online and that are largely free for consumers to use. Because this is a new field, a lot of people aren’t aware yet of just how useful these tools can be. So here is a short introduction of the three types of money management tools you can use for free, and why you should consider using them.

The first step in managing your finances better is to get an idea of your current financial state. FlexScore is a financial tool take became available recently and it is a great place to start your money management journey. This tool can help you establish your starting point by giving you a score based on how well you are managing your finances right now. It takes about 20 minutes to enter your information and find out how well you’re doing. One of the reasons why this tool is so successful and well-rated by financial experts is that getting more points really means that you have made impactful changes in how you manage your personal finances that led to tangible results. Hence, this tool is also great to use in parallel with other money management tools – as you progress in learning about your finances, you can check in with FlexScore and see how much effect your new strategies are having.

Using a Budget Calculator as a Tool To Manage Money

When it comes to money management tools, a monthly budget calculator is by far the most powerful. This tool is widely available on the web in many different forms, so that everyone can find a budget calculator that really fits their needs. In general, every monthly budget calculator will have three main categories – income, expenses, and savings, which are then broken down into subcategories. Typically, the expenses category has the most subcategories to make it easy to cover all expenses and quickly fill in the blanks.

best way to save moneyOne of the reasons why monthly budget calculators are such a powerful tool is that they force you to think about investments, savings, an emergency fund and your retirement fund. These are issues that most people think about in vague terms and rarely take the time to really do something about them. When you make a monthly budget, this is much more likely to change. In addition, some budget calculators, such as BudgetSimple, do more than allow you to plan your spending, income, and savings – they offer practical suggestions on what you can do to save money.

The third type of money management tools you should know about are online investment tools. Some of these tools are free of charge, but most charge a monthly subscription rate if you want to unlock all of their features. For example, Future Advisor is a tool which helps you incorporate low-cost index funds and commission-free ETFs in your portfolio. You can get an asset allocation analysis and their investment picks for free, but if you want them to actually execute the trades for you and automatically rebalance your investments from time to time then you’ll need to get a subscription. Some other similar tools are Betterment, Wealthfront and Quovo.

All of these can help you make better investments – especially investments for retirement.

In order to get a proper handle on your personal finances it is essential to use a monthly budget calculator which allows you to decide in advance how you want to spend your money. The other money management tools can help you address not just the basics of personal finances, but all the important factors. Commit to using these money management tools on a regular basis and you will see quantifiable improvements in the state of your personal finances.

Here is our ultimate guide on money management