Creating and managing a budget plan is one of the important aspects of personal finance. Budgeting not only helps you to know how you spend your money, but it also provides opportunities to save money on unwanted expenses.
Creating a budget plan is easy and there lots of apps and free budget templates to help manage your personal finance.
We will list those tools and explain how to use them to save and manage your money.
What is a Budget Template?
A budget template helps you to manage your personal finance by tracking your monthly income and monthly expenses. A budget templet gives a clear picture of how you spend money and helps you to save money on unwanted expenses.
Advantages of Budget Template
- Helps to organize your spending
- Helps you to compare your expenses vs money income
- Helps you to take full control over your money
- Budget templates can alert you on subscription dates and save money on late fees.
- Budget templates can help you save on unwanted expenses.
- Monitor your performance
- Set and Monitor your goals on Spending Money.
- And Helps you to plan for the future.
Although there are lots of simple monthly budget templates in Word, Excel, Spreadsheets, and Google Sheets, maintaining your monthly budget in an app, will help you to save money, because certain apps run through your expenses report and will notify the areas where you can save money. In this way, you can save approximately $200 – $600 a month.
All the apps mentioned here are beginner-friendly and it just takes few hours to get used to the dashboard.
1.Mint – The best budget planning app
Developed by Intuit, Mint is one of the best budget planning apps. Mint is also the most downloaded personal finance app.
The important thing is Mint is free and can be downloaded to both Android and IOs devices.
Mint helps you to understand your cash flow and spending by tracking and managing your income and expenses. You can input your cash flow, investments, spendings, credit cards, bills, subscriptions in Mint.
The app also tracks your subscriptions and will alert you when your spendings increase.
Mint also allows you to set custom goals on your spendings. This will be useful for people looking to cut expenses to save money. The app also has the ability to track your subscription and bill dates and alert you to pay right on time, this will help you save money from late fees.
Personal Capital is another free app to track your personal finance.
The app lets you track your expenses, cash flow, and net worth in real-time.
Apart from tracking your expenses, the app also helps you to make retirement plans. The free analyzer in Personal Capital will help you to reveal hidden fees in subscriptions and mutual funds and will help you to save money.
If you are into investing, the app lets you check how your investments are performing compared to your target allocation.
Personal Capital is one of the best apps, to make retirement plans and tracking your net word.
The Personal Capital Dashboard has been awarded as the best financial tracking dashboard.
Every Dollar app is one the simplest app to create budget plans and track your expenses. The dashboard is simple and you can create your budget plan in less than 10 minutes.
You can use this app on your phone, tablet, and desktops. The dashboard is very clean and simple and if you are planning to use the financial app for the first time, you could use Every Dollar. You can create your budget plan in minutes and maintain it with ease.
Vertex 42 has lots of predesigned excel budget templates. The company creates professional excel sheets that cover personal finance, money management, family finance, debt management, education, etc.
Vertex42 has lots of powerful and user-friendly Debt and Money Management Tools. The most important thing is the templates are free and easy to use.
You can download lots of budgeting samples and pick one that suits your needs.
You don’t need to install any app, you can download the excel sheets and upload them to google sheets, and start managing your finances. If you are looking for google sheets budget templates, Vertex42 is the best app to download the best template to suit your needs.
You can also use templates as printable budget worksheets and use them.
Apart from budget templates, Vertex42 also has templates for Wedding Checklist, Wedding Budget, Weight Loss Char, Home Inventory, Attendance Tracking, and Asset Tracking.
5.You Need A Budget – App
You need a budget is one of the fastest-growing budget apps in the market. The best thing about you need a budget app is that it will force you to document every dollar you spend. If you are lazy enough to spend time on budgeting and want to focus, you can use YNAB app.
The app will help you to take control of your money, save money and help to come out of debt.
You can use the app for free for 34 days, after that you need to pay a small monthly fee. According to the app, their average customers save $600 a month and up to $6000 a year.
The app allows you to break down your finances over the span of several months and helps you to analyze how you spend your money.
Lots of reviews say this is one of the best apps to cut off unwanted expenses and save money. If you are looking to save money on your budget, you can try this app for 34 days and check how it goes.
Mvelopes digital budgeting app will suit those who like the concept of Dave Ramsey’s budget envelope system.
The app allows you to import your bank and credit card accounts and helps you track your expenses and cash flow.
Apart from tracking your expenses, the app also gives you advice on saving money, gives you free ebooks and videos on personal finance and budgeting.
The app is not free and comes up with a monthly fee – $5.
How to use Budget Templates?
In simple words, write down your expenses and income and start comparing. You can install budget template apps, this will let you compare the income and expenses and will let you know how you are spending money. If you are not comfortable with the app, you can use excel, word, and Google Sheets budget templates.
Do I need to know financial and budgeting words to use Budgeting Apps?
No, most of the personal-finance budgeting apps come with simple budget templates and people from all walks of life can use them with ease.
Budget Template vs Budget App?
If you are looking to save money you can opt for budget apps, because budget apps come with alerts that can help you save money on unwanted expenses. On the other hand, if you are looking for a simple look-up over your expenses you can download free excel budget templates.
Starting to use the budget template to manage your expenses is just the starting point. It is advisable to start learning about personal finance and budgeting. There are lots of free resources and tools available online in the form of ebooks, website articles, and youtube videos. Few apps mentioned here have inbuilt training rescues in the form of ebooks and videos, the videos contain valuable information from financial experts.
You can save money and also can learn how to get free money from your bank, online purchases, and subscription plans. You don’t need to spend lots of hours on budgeting and personal finance, just spend time in your free time and weekday regularly and in few months you could learn how to properly use your hard-earned money.
You could also sign up for money-saving apps, to save money. These will monitors your online and grocery purchases and will provide discounts in the form of cashback or gift cards.