Top 5 Online Budgeting Tools

You know you need a budget. Your bank account knows it – your partner knows it – maybe even your pet knows it! You may feel completely comfortable where you are in your finances today, or maybe you’re struggling. Either way, everyone needs a budget if they want to achieve financial freedom later, or earlier, in life.

If part of the reason you don’t currently have a budget is because the thought of “balancing a budget” is a little too intimidating, one of the following five online budget software tools could be the answer for you. With the help of modern technology, you can spend less time sitting in front of your bank statements on a Saturday morning and more time out living life! Here are the top five online budgeting tools to investigate in order to bring your household one step closer to no-hassle, on-track money saving and spending.

Mint.com

Mint is one of the pioneers of online budgeting. Mint requires you to link your bank accounts to their website or smartphone application so the software can automatically update your transactions and spending. It’s easy to digest, for those who appreciate graphs, pie charts and pictures. You can set goals within the program to put part of your monthly income aside for specific categories of savings. Mint has been around since 2006 and can instantly show you how much you’re spending on each category: housing, utilities, clothing, etc. It also helps you understand your credit score and offers tips on how to improve. Mint is free – another great feature for online budgeting software.

Mvelopes

Mvelopes helps break down what can be a confusing subject – managing money – into a simple “envelope” based system. When users opt to use the free version, they can link four online bank accounts and separate their expenses into 25 spending envelopes. They also can access their information on the iPhone or Android app and start tracking their net worth. Mvelopes is designed for people who want to tackle their debt head on and start tracking where every single penny of their income goes.

BudgetTracker

BudgetTracker lets you link ALL of your accounts – even your Paypal account – to one place. You can view your investments, your credit cards and your Paypal balance side by side. You can compare interest rates and see where you should put extra cash down first to save the most money over the long term. You can categorize all of your own transactions and receive bill reminders when it’s time to pay. You can set a monthly budget in the traditional fashion, or you can break your budget down weekly. If you’re self-employed, track your business expenses as well without using a different program.

BudgetSimple

BudgetSimple is just that – simple. Think of it as an interactive spreadsheet for absolute budget beginners. You can create a budget and generate reports, but you’ll have to pay $4.99 per month to link your bank account. The service can analyze where you’re going wrong when it comes to spending and suggest ways to save money instantly.

Buxfer

Buxfer is revolutionary in that you achieve the level of security you want from a service that links to your bank account, but you don’t have to store your bank password on their server. You can also tag and categorize your spending, but you can make the tags yourself instead of relying on the software to recognize each transaction correctly. You can set weekly or monthly budgets and get text alerts when you’ve gone over your limits. See your net worth today and see your projected net worth in years to come if you follow your saving goals. Buxfer is encouraging and can be personalized to your unique budgeting style.

Use one of these helpful online budgeting tools to keep your dollars in line and your bank accounts full. You’ll have the peace of mind from knowing you have a plan and you’re sticking to it.

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