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What is the Best Website/App for Household Budgeting?

Household Budgeting

Whether you are trying to make ends meet or handle all your accounts, budgeting is an essential tool. Organizing and tracking spending, bills, accounts, and savings can be a confusing task. But knowing what your money is doing doesn't have to be difficult or confusing. Many people avoid setting up a budget. Excuses can range from not being good at math, confusion as to where to start, or the belief that it won't help. But the truth is, if you handle money for your household, you need to have a budget. With today's technology, budgeting is easier than ever. Getting a grasp on your finances doesn't take a degree in accounting.

Mint offers all the tools necessary to track your money, set goals, create a budget, track your investments, and even bill payment reminders. Mint can help you organize your finances so that you can have the financial security you are looking for, while planning ahead for the future, as well as saving for the things you may want to buy down the road. Whether you are at home on your computer, or on the go with your smart phone, you can access your financial accounts and stay up-to-date with what is going on with your budget through the website or mobile apps. Mint offers apps for both phones and tablets, iPhones and Android. Best of all, it is free.

Budgeting

When you start your financial planning, the first thing you need to do is to get organized. CNN Money reports that the three most important steps to household budgeting is finding out where your money is currently going, evaluating your spending, and then tracking your future spending. So, to start, putting all of your income, accounts, bills, credit cards, and spending information in once place is key. The set up when you start on Mint can take a little time, but it helps to have all of your information handy when you sit down, such as your wallet, your bank book, your bills, any accounts. Entering all the information is important to getting the whole picture for your budget. Mint is a secure site that protects all of your account information. And once it is all entered, you can easily see everything in one place.

Mint shows you your information in easy to understand language. If you have connected a bank account, your spending will show up with a description that you can understand. You can easily set up categories for all of your spending, so you know where the money went. The budgeting tools help you to set amounts for each category. Mint will notify you by email, text or both if you are coming close to going over budget in a category. It will also inform you of low balances on accounts, so you can watch what is happening with your money. It can also tell you your credit card balances to help you watch the credit card spending you are doing.

Find ways to save money

Best of all, they help you find ways to save money. By setting a savings goal, it can help you watch the savings pile up with tips on ways to save money, showing you the best financial products and services to save you money, and recommending the best products. They include easy to read reports and graphs to show you what you spent your money on, how much you spent, your savings, and your progress towards your goals.

One of the nicest parts of using Mint is how user friendly and easy to use it is. If things change in your budget, it is easy to go in and make those changes. Adding and deleting accounts are not problem. While budgeting isn't fun for most people, it is a wonderful feeling to see everything clearly and watch where your money is going. With all the tools available, it makes it simple to make financial decisions that make sense.

After using Mint for a few months, you may be surprised at how easy and quick it is to look over the budget for the month and make changes that need to be made without pulling your hair out. Every financial expert will tell you that the only way to get ahead is by making a budget and sticking to it. And with Mint, that doesn't have to be an overwhelming task. Instead, you can find yourself budgeting like the pros.



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Gay Aida Dumaguing (a.k.a. G) is a 29 years old Filipina traveler and food lover from Cebu Philippines who makes a living online as a SEO specialist, Social Media Manager, and Brand Ambassador. Follow her on Google+, Facebook, and Twitter.

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