Monday, 14 March 2011

5 best personal budget tools for financial freedom and debt free life

They do not teach us the importance of personal finance in school. Neither do the parents bother to teach kids about money. Therefore, it is no wonder that most of us grow up without understanding the significance of personal finance issues. Personal finance education teaches you to lift your lifestyle and secure your future. No more debt woes, debt consolidation and creditor harassment for you. Sounds tempting, isn’t it?

You can control your personal finance with a great degree of success with personal financial softwares and online personal budget tools. These tools can play an instrumental role in guiding you towards financial freedom. Here are the top 5 personal budget tools:

1) Mint

Mint is possibly the best known personal budget tool. It takes your bills, spending, and credit card expenses into account and suggests you different ways to save money. Mint will save you money via alerts. Whenever have a low balance or you are spending beyond your means, Mint will you send you an SMS or an email alert. Mint requires important financial information like your bank account number but it is safe. Mint can understand your financial needs at the glance which is an excellent feature.

2) BudgetPulse

BudgetPulse is for people who prefer to enter the information manually and not directly from their accounts. It will systematize your finances and allow you to manage income, expenses and bank accounts in one place. You would be able to understand the state of your finances through easily understandable graphs and charts. It is possible to personalize your budget to an extent by adjusting the currency and time zone.

3) Budgettracker

This tool has been around since 2003. It is something more than just a budgeting tool. Manage your income, all your bills, transactions and many more things with the BudgetTracker. They would provide you a calendar which reminds you of the upcoming bills. You can create your budget in two ways-using “my budget area” and the “budgeting wizard”. My budget area allows you to make a customized budget whereas budgeting wizard has specific fields to be filled up. The second option is relatively faster. You can organize everything right from stocks to groceries with BudgetTracker which is pretty impressive.

4) You Need A Budget (YNAB)

You need A budget or YNAB is an excellent budgeting tool with a superb interface. Allocate your funds according to your needs with ease and watch over your expenses throughout the month. You can integrate bank transactions with YNAB and track your expenses. Your financial data is secure with YNAB. It is also possible to schedule recurring transactions with this personal budgeting tool. With YNAB, you are taking a step towards financial prosperity through effective money management.

5) Expensr

Expensr is a simple tool which would allow you to create a budget and track your expenses. More importantly, it would help you to improve your money management by comparing your spending habits with similar people. Expensr has an attractive feature in the form of financial forecasting which helps you to avoid unpleasant monetary surprises. If you are contemplating an easy to use yet effective tool then Expensr is the perfect choice for you.

Personal budget tools will help you to evade financial blues with a systematic approach to money matters. So if you are struggling to get monetary issues under control then opt for one of the above personal budget tools. These tools can certainly improve your financial condition and keep you away from debt issues.

Author Bio:

This is a guest post by Kevin Craig who is a financial writer for various finance related Communities. He has helped lot of debt burdened people with free counseling on debt settlement services. With his advice many are now living a debt free life. You can reach me at: kevin.craig672(at)gmail(dot)com?

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  1. [...] from different banks. He spends a lot with his credit cards and now he could not pay off his debts (Debt free) with the good salary he is [...]

  2. I use a little known great online personal budgeting web app called Out Of The Dark (OOTD) Budgeting, it offers easy budgeting and expense tracking side by side on one page, some great features like Cash Put-Aside management and the Credit Card Debt Terminator built into my budget, it's 100% safe because I don't give out access to my bank accounts or even my personal identity, and it's unconditionally free.