It’s the first week of summer. I know I really can’t believe it either, it’s certainly an exciting time. The days get longer and continue to get hotter. That means you’re out and about and spending like nobody’s business. Summer is my favorite season, but I do notice there is an increase in my spending as I find all these amazing things to do in NYC. It’s one of the best times to explore new hobbies and go on lots of adventures. It’s birthday season, wedding season, travel season, you name it there’s a season. Although it’s a wonderful time of the year besides Christmas, it’s still important to have a budget. Summer time YOLO’s will get you into debt quick if you don’t plan accordingly.
Remember in my blog post when I explained 5 Reasons To Budget? I highly suggest you take a look at if you’re not sure if budgeting is for you.There’s plenty of pertinent information there that will provide you some background information on why budgeting is essential. Do you have a budget? Have you taken the time to review your expenses?
One of the things I love about managing my money is that I’m able to be realistic with myself. It wasn’t until I moved to NYC 5 years ago that I realized I needed to budget. Managing your money is important and I want you to be in the driver’s seat of your finances and meet goals. It might be painful in the beginning, but it will allow you with more clarity than you think. When I budget I personally like to use an excel sheet because it provides me with more fluidity.
I’m able to manipulate and adjust my sheet accordingly. Since I’m a stickler, I use both a budget sheet and the Mvelopes App. However, if you’re not into excel, here are three free apps available on IOS and Android you can use to help jumpstart your budgeting woes. The best part is you can manage your finances right from your phone.
It is an award-winning online home budgeting system that helps you look to the future and manage your spending accordingly. With Mvelopes you can quickly and easily create an online budget, track all your spending, and always know exactly how much you have left to spend. It uses the envelope system that allows you to have separate envelopes for different things. Once the money runs out of each envelope you don’t spend money until the new month starts and new money goes in there.
This app was created from intuit. It tracks your income and expenses, but also your financial state as a whole. Besides allowing for in-depth personal budget management and expense logging, the Mint app lets you sync your bank and card details for an up-to-date and secure look at your financial state. It’s overkill if all you’re looking for is a little help with simple budgeting, but Mint Personal Finance is great if you’re looking for more features such as custom tips and savings.
It aims to bring all of the financial information you need to easy view so you can quickly take control of your finances. Users can set a savings target, spending budget and income, which you can quickly reference on the main screen. We like that you can quickly create and view expenses, keep track of money saved and saving goals. Neat features include social and location tools for your expenses, allowing you to record not only how much you spend, but also where and with who, as well as detailed infographics of your spending.
Each of the apps listed has different features that you may or may not like. It’s about finding a system that works and sticking to it. Once you start budgeting I guarantee you will be surprised by the amount of money you spend on stuff you don’t need ie. Uber rides when you could have walked those 10 minutes. Being financially aware is one of the best things you can do for yourself. Managing your finances does not mean you are broke. It’s being transparent and honest with yourself. It also doesn’t mean you cannot do what you want to do, again it allows you to be realistic with your plans especially if you are working towards goals.