5 tools to help you budget more effectively

The right tools for the job always make getting the task done easier. This is particularly true when it comes to budgeting, which can be efficient and even enjoyable with effective devices to lend a hand. Here are five aids to assist with making sure those accounts balance.


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YNAB stands for You Need A Budget. If offers a spreadsheet for tracking monthly outgoings that is generally easy to use, and establishing a budget can be done in minutes. The software offers graphs and reports to monitor where the cash is going, and it focuses on past rather than future earnings to help users live within their means. Transactions from the user’s bank or credit cards can be added each month. In this personal finance report from The Guardian, YNAB is the top pick.


This is considered to be the elder statesman of budgeting tools, with a design that aims to handle everything from investments and bill paying to reporting and allocating funds.


This is essentially the online incarnation of Quicken. Link it to credit card statements, bank accounts or even investments, and it will give the user a comprehensive report on how the money is being used and where it could be managed more effectively. It can also monitor liabilities, assets, earnings and what it all adds up to in terms of personal financial worth.

Pre-paid cards

A pre-paid card will stop you from spending too much, and some have features for managing money where customers can track where their spending is going. Some credit cards also offer these tools. The interest on credit cards can be quite high, however, and some consumers can’t help racking up a lot of credit card debt. When this happens, an IVA may be a good way of addressing the problem. If you need assistance with one of these, it is a good idea to consult professionals in this field such as https://www.carringtondean.com/individual-voluntary-arrangement-iva/.


These may sound ridiculously old-fashioned, but some of them are moving with the digital times and offering budgeting tools to their clients to help them track and allocate spending. Some of these tools offer a calendar and automated features to assist with saving, and some are available as apps that can be downloaded to a smartphone for money management on the move.