Several personal finance apps and websites can help you plan and keep track of your spending. A financial tracking software gives you the ability to review how you are spending your money.” “However, it cannot establish a budget or categorize your expenses. “Online banking is a great tool to pay bills and reduce paper statements,” says Dan Crimmins, New Jersey-based financial coach at Crimmins Wealth Management. And if the “b word” makes you bristle, don’t worry: The best personal finance software can make it surprisingly painless.
Managing your money isn’t easy, so it’s no wonder that only 41% of Americans have a budget, according to the National Foundation for Credit Counseling.Ī budget is the most fundamental financial planning tool out there, and with one, you’ll have a better chance of reaching your short- and long-term financial goals.