Having trouble accounting for all that money that comes out of your bank account between your rent and student loans? You and your roommate failing to pay each other back for grocery expenses? If you’re moving into your first apartment, then you may finally be figuring out that money disappears from your bank account faster than you may have anticipated. Looks like it’s time to keep track of your expenses. Here are some fantastic Budgeting Tools For College Students (and old people, too) to help make budgeting and personal finance easier.
Nowadays, Mint.com is the online budgeting tool to use. It synchs up to all of your bank accounts and keeps up with continual bank account changes in real time. It also helps you map out your monthly expenses based on income and credit. If you’re about to go over your budget for the month, it even sends you a notification. You can also track how much you want to put into savings accounts or towards your loans and other debts. If you’re a bit worried about synching up your bank account to a website, don’t fret! First, pat yourself on the back for being responsible. Secondly, keep in mind that Mint.com has securely served over 198 million users to date.
You Need a Budget
You Need a Budget is the budgeting tool for those who frequently overspend or have a lot debt. It not only tracks your monthly spending, but also keeps bigger future bills and anticipated purchases in mind. It schedules out your monthly transactions, saving you time and helping you gain control over your finances. The company loves to brag about their average savings within the first month of using the program – a whopping $200! It’s available on Windows, Mac, iPhone and Android. If you’re a big spender, now you have no way to escape your budgeting software!
Budgt is the minimalist’s budgeting tool. If you’re looking for an easy way to track your spending without linking it up to all your accounts, then this is the budgeting tool for you! The app is quite simple, using daily expense entries and pie charts to track your income versus spending. Budgt is best for students, as it focuses on small daily expenses, rather than larger monthly and yearly expenses. The only problem with Budgt is that it’s limited. It’s only available as an iPhone app, so if you wanted to use it on your laptop or Android app, you’re SOL. (Pst! If you want an alternative, check out Track Every Coin.)
Just got a new job or internship that requires you to track company spending? Sick of trying to keep those receipts in one place and reporting them properly? Expensify is a free way to track your business expenses. It keeps track of all your transactions on your credit card, then allows you to tick off the ones used for business and add them to a report. If you pay for something in cash, you can simply take a photo of the receipt and forward it to Expensify. It lowers the amount of clutter and room for error when creating expense reports and it’ll help make sure you’re reimbursed for all those expenses.
If you are sharing your apartment rent and expenses with roommates, then Venmo is a must-have. Venmo is a money-sharing website that allows you to connect to your bank account, as well as your friends who also have a Venmo account. Owe your roommate money for groceries, but don’t have any cash on you? Send them the money over Venmo. “What makes this any different from Paypal?” you might be asking. Venmo takes the money straight out of your bank account with no fees! It adds a nice social networking aspect to your banking and allows you to transfer money easily. It also comes in app form for Android and iPhone, so you can send over whatever you owe as you’re discussing the monthly bills and groceries.
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