The advent of the Internet and mobile devices has given rise to a whole new class of technological solutions to the problem of tracking money and budgeting. Gone are the days of writing due dates on your wall calender or keeping track of spending in your checkbook. There are many different ways that people can use technology to make financing and keeping track of spending easier.
Excel is an classic piece of spreadsheet software. Despite its age, Excel and similar software are full of useful tools for tracking finances. Excel can save monthly budgets, track expenditure across categories, and graph spending over time. This makes it easy to see exactly where your money is going. You can also set up your spreadsheet to calculate your totals for you, and when a number changes, you don’t have to start all over with your math. You can also create different graphs and charts to view your spending trends and see more visually where your money is going.
Online Banking and Tracking
Most banks offer online banking, which gives customers an online account associated with their bank account. Users can view past spending through the online portal. Some banks even allow for check deposits using a smartphone app and a phone camera, adding convenience. The online account is a great way to track spending, but it doesn’t replace your own personal tracking. At least once a month you should go through your online bank account and make sure it matches up with your checkbook and other spending records.
Mint is an online service that has a graphing and spreadsheet component. The true benefit of Mint is that it can be linked directly to bank accounts, so it can automatically update budgets with new spending and income as it happens. This is a simple way of tracking your spending trends and finding out where your money is going without too much additional effort.
Professional Credit Repair
A bad credit report can be detrimental in a variety of ways. A bad credit score can not only affect your ability to get a loan or a mortgage, but employers may also check your credit during the hiring process. It’s good to honestly ask yourself, do I need credit repair services? Using Web searches, it has become easy to find a credit repair firm that operates nearby or even online, making the problem of fixing bad credit much easier to solve.
Alerts are another component of online banking- these alerts can take the form of emails or text messages that the bank will automatically send to the user under certain circumstances. These range from the funds in a given account dropping too low to a suspicious transaction on a credit card. Alerts are a good way to stay connected to your finances without needing to log in at a computer.
Automatic Bill Pay
It is also possible to set up a recurring transaction from an online bank account. For example, you can set up a payment that automatically pays the rent on the first of every month and another that transfers a portion of every paycheck into savings every two weeks. This makes missing bills and late payments a non-issue!
Technology has made tracking finances much easier and more convenient. Budgeting, once a daunting accounting problem, is now the work of a few clicks. Take advantage of these technological tools to take control of your finances.