There are many ways to get all your accounts in one place.
There are also ways to automate your budget.
Mint.com comes to mind.
Your bank may even offer online banking that budgets for you and allows you to add outside accounts to your dashboard.
That’s all great. I love automation. But I’ve found the cream of the crop.
All your accounts in one place? Check. An effective automatic budgeting system? Check. And that’s not all they do.
Personal Capital is great for budgeting, but it’s really great for investing!
Let me show you what sets Personal Capital apart from the rest…
I am a huge fan of the envelope budgeting system.
I think it’s a great way to stay organized and keep your budget simple.
I have written several articles on budgeting.
I have even written on how to live without a budget.
Now it’s time that I show you what I personally use for budgeting.
I use Goodbudget (formerly EEBA). This is a website and a smart phone app. A digital envelope budgeting system.
There is a free and a paid version.
Let’s take a look at what Goodbudget has to offer…
“Hey honey, I want a motorcycle.”
“But I want a kitchen remodel.”
“Umm, but I want a motorcycle.”
“SWEETIE. WE CAN’T DO BOTH”
He wants the motorcycle. She wants the kitchen remodel. How to decide?
When you and your spouse talk about money, there’s potential for
arguments disagreements, value clashes, and colorful conversation (to put it lightly).
This step-by-step guide will help you two figure out how to make a budget work for your life together.
Would you like to be able to access all of your finances from one spot?
Your bank accounts, investments, mortgage, bills…everything.
Wouldn’t it be great if you could get that for free?
Yes. Yes it would. And you can.
Let’s see what Mint.com can do for you…
When you think about being responsible with your money, a budget may be one of your first thoughts. In my Beginner Series, I tell you, point-blank, that you need a budget.
Can you really live without a budget? The title of this article makes it seem like I was misguiding you when I said that you need a budget, doesn’t it?
The envelope budget system is an easy budget for people who want/need to physically see where there money is going.
It’s a very simple process; in fact, all you need to get started is a few envelopes.
You will use a different envelope for each category in your budget. When you receive income, you simply put the correct amount in each envelope for that particular category.
It’s a cash system…
Discipline is the difference between financial success and financial failure. Getting disciplined means staying on track and staying focused on your goals. This applies to almost every aspect of your finances.
From budgeting to investing, discipline and sticking to your limits are the most important things, because without discipline, it won’t matter how much money you earn or how much money you invest.
You can earn a million dollar salary and invest regularly, but it you are not disciplined in spending and investing approach, you could lose everything. As far as your budget is concerned, discipline will make it or break it…
Now you should have all your income and all of your expenses for one month. Now it’s time to start telling your money where to go.
To really start getting detailed, you need to ask yourself what the main purpose of your budget will be.
If getting out of debt is the main reason, then the emphasize should be placed on using as much money as possible to pay down debt.
If retirement, investing or saving is your motivation for a budget, then it should be geared towards exactly that. Having strong goals will help you stay on track with your budget.