Best Ways to Track Your Personal Finance

personal-finance

Keeping track of your personal finances is almost a must today if you want to know where your money is going and want to avoid being deeply in debt. For many of us, it’s easier said than done. Whether it’s matter of not wanting to know what needs fixing or just lack of time, too many consumers fail to track their finances. Here are some very effective ways of tracking finances.

AppsIn this mobile and technology-filled world we live in, there are apps for almost everything. If you’re one of the many who carry their phones with them 24/7, you can really benefit from a finance app. There are so many available, you’ll have trouble finding the right one.

Many of these apps are almost like having your own financial advisor right by your side at all times. Here are some of the most popular types of financing apps

• Apps to help budget and keep track of accounts – These apps help you see where you’re spending too much and how much you have to spend. Some will even send out an alert if you’re spending too much.
• Apps to help monitor and pay bills – Need reminding when a bill is due? These apps do everything but provide the money to pay your bills.
• Apps to help with saving – These apps show you ways you can cut back and offer ways to help save and monitor your savings.
• Apps to help with investing – Any questions you may have about investment options can be answered. You’ll get suggestions on hot stocks and favorable investments.

The Internet

Is there really anything that can’t be found on the Internet? There are so many financial websites that offer great tips on financing as well as spreadsheets, graphs and charts showing you how to balance your checkbook, where your money is going and ways to save. Many of the websites can link right to your personal bank and other accounts so they’re always on top of things.

Old School Methods

Regardless of how many of the newer forms of technology that seem to come out, I still always go back to my trusty old Xcel spreadsheet. It adds and substracts, which are the two things I need most to see my debits vs. my credits.

Spreadsheets also allow you to sort by accounts or dollar amounts. While they won’t give you the helpful tips on how to save, they can keep you on top of how much money you actually have to spend. I can also use the same spreadsheet on my mobile device.

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