Budgeting Software Is Essential To Creating A Rainy Day Fund

Blog, budgeting software

Budgeting Software for rainy day fundEvery new year, I have multiple conversations with friends about their new year’s resolutions. When we were younger, most of our resolutions were about weight loss or drinking less, but the older I get the more my friends seem to set financial goals as the new year approaches. Although our goals are changing, one thing stays the same, and that is that it is hard to keep new year’s resolutions.

One of the most common resolutions I encounter lately has to do with saving more money. Some of my friends are saving for their children’s college funds, others are looking toward retirement, and many just want a rainy day fund. To this end, some of my friends have opened savings accounts, and some of them have jars to put change in. Although both of these are good ideas, I urge my friends to take this goal a step further with budgeting software.

One of the hardest parts about saving money is that it often involves spending less. It can be really difficult to pack a lunch in lieu of eating out. It can be really difficult to give up your morning lattes. It can feel like a strain to cancel cable TV and rely on DVDs from the library. However, it becomes easier to make these sacrifices when you can see where your money is going.

With many types of budgeting software, you can look at the impact that these savings will have over a year or even over a few years. When you know–thanks to the right software–how much you will save by making a few cuts, it becomes a lot easier to make those cuts.

Most consumers find that budgeting software is an invaluable part of creating a rainy day fund. When you see that your morning lattes can be turned into a summer vacation, it becomes easier to make that choice. When you can see that canceling the cable can turn into a year of retirement or a year’s worth of college tuition, it becomes easier to live without cable TV. Regardless of your particular objectives, they will be easier to meet when you can see the potential of making small changes. Small changes have the potential to equal big dollars.

Tracking is an incredible part of budgeting software, but the other component is accountability. Most people find it easier to meet their goals when they work with a partner. The right software can be this partner for you. The right software is there in your pocket on your phone, at your work on your laptop, and at home on your PC. Your budgeting software is wherever you are, and it is constantly reminding you how important it is to save.

With the help of budgeting software, you will be able to create a rainy day fund that surpasses your expectations! Get started today building your rainy day fund with one of my favorite budgeting software solutions.

End of the Year Financial House Cleaning: YNAB, Retirement Contributions, Charitable Giving, and More

Blog, Personal Finance Software, Reviews, YNAB

ynab financial freedomA good buddy of mine recently approached me about making smart end of the year financial moves. One of the first things I suggested to him was to set savings goals for the new year. He admitted to me, then, that although he and his wife had nearly doubled their income over the last two years, they still weren’t getting ahead. They were doing more and buying more, but they couldn’t seem to save anything. One of their main problems, he said, was that they were just too disorganized. I suggested that they try to get things under control using a budget software like YNAB.

He had a number of excuses to explain why they hadn’t tried finance software yet. She was an independent contractor so her income was always fluctuating, and he had bad spending habits that he could never seem to get past. YNAB, as I told him, is ideal for people with fluctuating income and varied bills. It allows users to easily enter data that changes from month to month or even week to week.

Truthfully, no finance software is a cure all. My friend needed to make some real changes. He needed to stop spending money before he got it, he needed to stop floating checks, and he needed to make a serious commitment to improvement. However, improving on your own is hard.

If you’ve ever tried to start a workout regime, you probably understand how much easier it is to stay motivated when you have a friend, or a trainer, or even an app to help you. YNAB, I told him, could be the trainer that he needed. It could guide and inspire him as he saved throughout the new year.

Using YNAB to get finances in order.As we continued to talk, I reminded him of a few other financial matters that he should attend to before the close of this year. I’ve compiled those tips in a short list so that you can utilize them in your own life:

  • Spend the money from your flexible savings account. This is the perfect time for new eyeglasses or boxes of over the counter medication.
  • If possible, try to reach the maximum contributions for your retirement accounts. Contributions to your 401K and your standard IRA are tax deductible, and it is important to take advantage of that.
  • Order your free credit reports. By federal law, each of the three credit reporting agencies must give you a free report once per year so if you haven’t looked at yours yet this year, now is the time.
  • Reduce your taxable income by giving to nonprofit charities. Even if you donate clothes to the charity store, you can get a receipt and claim a deduction.
  • Look through your stocks. Now, may be the perfect time to sell your losing stocks so that you can have capital losses to balance your capital gains for the year.

The end of the year should be a joyous time, a time for reflecting on what the New Year may bring. I hope that my friend takes my advice to heart. I hope that he cleans up his financial house with YNAB or another good budgeting software tool, and that he and his wife can get ahead and enjoy many future bountiful holidays together.

Holiday Research: Finding the Best Budget Software Review

Blog, Personal Finance Software, Reviews

budget software review researchThe holiday season is the perfect time to reflect upon what we have while also hoping for more in the future. Whether you celebrate Christmas, Hanukkah, or Solstice, the long nights of winter are ideal for planning ahead and making wishes for the new year. We all have goals for ourselves, and one of our most important goals often concerns what we do with our money. If you are like many people, you may be scouring the internet looking for the perfect budget software review.

Unfortunately, too many software reviews are written by amateurs who have never tried the software themselves. These reviews tend to give sparse details, and sometimes, they even review software that isn’t even sold anymore. Here, in contrast, on my website, I work hard to give you comprehensive reviews that you can really use. I actually try all of the software and use it with my own family to determine what really works.When reading a budget software review, you will want to look for a few key items. One of the most important items is user friendliness. If money is the thing that couples fight about the most, I would be willing to bet that figuring out overly complicated finance software is a close second.

Ideally, you want software that you and your spouse can understand as soon as you start using it. The best software does all the work behind the scenes, and it makes things easy for you. You may also want to look for a software that includes a video tutorial. This guiding hand can be invaluable.

using budget software brings financial freedomThe second thing to look for in a budget software review is how the software will help you. If you’re in debt, will it show you the way out? If you spend too much, will it help you save? If you’re not sure where your money is going, will it track your spending? If you spend impulsively, will the software notify you when you have blown your budget? Everyone has different needs, and you need to find the software that is right for you.

Ideally, you want software that will give you hope, software that will help you track and save your money, software that will make it easier to live better. My budget software review website has been designed to help lead you in the right direction because I’m confident that with the right software, you can achieve anything. Whether you are shopping for yourself or a friend, I invite you to read my reviews to discover the finance software that is right for your unique lifestyle.

SitemapEntries RSS Log in