Top 5 Budget Planners that Save Time, Money, and Effort

You have, albeit on several occasions, created a budgeting plan, tried managing your income, decided to set aside some money for a vacation, then got overwhelmed in the process. Well, many people can relate. Everyone knows having a budget is important, but sticking to it always proves challenging. However, did you know that with the right tools, keeping a budget becomes can be quite easy and productive?

If you are the kind that overdraws the checking account, or if your vacation plans vanish as the days near, then it is high time you got yourself a budget planner. Here are some of the best budget planners that can save you time, effort, and money.

5 Top Budget Planners in 2020

Not all budget planners currently available in the market will meet all your needs. Luckily, we have done the hard yards for you and compared a few here for you to consider. Have a look! 

1. Mint

For the longest time, Mint has remained the gold standard budget planner, and it is for good reasons. The planner gives you real-time updates, groups all your transactions, and draws an expenditure overview of your spending as it happens. You are free to increase the number of categories depending on your needs. Additionally, you can view your credit history freely through this budgeting app.

So, is Mint for you?

If you are a beginner budgeter, a hands-off, or a mobile phone enthusiast, Mint is worth a try.

Mint budgeting app outshines other similar planners with its financial hub, auto-syncing, portfolio snapshot, trends overview, real-time notifications, and mobile compatibility. For instance, you can compare the performance of your portfolio to several benchmarks like the Dow Jones Industrial Average or even the S&P.

YNAB

If you need a budgeting platform for a serious commitment, look no further than YNAB. It is one of the best budgeting apps operating on zero-based budgeting. It offers you a reliable platform to plan for all earnings. The premium option of this app, which requires you to invest $11.99 monthly or $84 yearly, links up all your financial accounts, eases your process of setting goals, saving, oven customizing your expenditure categories.

Additionally, the available features included in this app, like free workshops, offer advice on effective budgeting. Besides, the available guides ensure that the planner is quite friendly and easy to use.

Clarity Money

If you need a planner that you can use for budgeting and saving, then Clarity Money is the planner for you. This app will allow you to link up all your accounts from different institutions seamlessly. You can organize all your expenses easily, track expenditure, or even group the expenses into various categories.

Moreover, this planner has exceptional features like ease of access to your credit score report and the option to opt out whenever you want. Such add-ons make this app a must-have for anyone searching for an inclusive budget planner.

Goodbudget

Goodbudget runs on an envelope system that allows you to categorize your incomes into various portions. The app is easily accessible and even allows several people to log in to the same account using different devices. Such a feature makes budgeting as a family effective and relatively easy.

This planner differs from most budgeting apps in that it does not capture your bank balances, debts, and cash amounts automatically – it is up to you to do it manually. However, you can freely choose which money to include as well as the spending category.

It is available in free and paid versions. Should you need unlimited envelopes, you will have to subscribe to the $50 annual version (Plus Version). On the other hand, the unpaid version offers you only one account accessible on two devices.

Personal Capital

Personal Capital is an all-inclusive management service that offers you the luxury to access effective and friendly human financial advisors. It makes use of the robo-advisors’ algorithms. This feature-filled app makes tracking of expenditure easy and effective. For instance, the app facilitates ease of connecting and monitoring your finances across different platforms.

Personal Capital easily connects with your IRAs, 401(k)s, loans, and mortgages. With this app, you get an overview of every expenditure group.

Tips for Choosing the Best Budget Planner

Everyone wishes for a planner that will help them save time, money, and effort. But few people find such apps -they do not know how to choose the best. Here are a few pointers to help you choose the most appropriate planner for you.

1. Establish what you want to achieve

If you want to do just anything, you will get a planner with such functionality. However, for maximum benefits, you should evaluate your current financial position. Assessing yourself will make it easy for you to establish where you need to go in your budgeting journey. Ideally, your goals and state should offer you the direction to take.

For example, if you want to lower your expenditure, you will look for a planner that helps you do that with minimal challenges. So, know your financial position and what you need to change before picking any budget planner.

2. Figure out the effort you will need

One of the goals of starting a budget plan is to lower the effort you put in planning and sticking certain monetary obligations. Therefore, your budget planner shouldn’t necessitate a lot of effort.

Learn how various budgeting systems operate before you can commit yourself. For example, most zero-based budget systems require you to track your expenses frequently, while you will need little upkeep for the pay-yourself first budgeting systems. Therefore, go for a system that you can devote enough time to without straining.

3. Digital Vs. Manual Planners

Budget planners are available in two options – digital and manual. If you need technical assistance with your budgeting process, the digital option will work for you. Such an option is quite effective as it allows the automation of access, savings, and instantaneous update.

If a budget planner doesn’t offer you automatic updates or even group your expenses and is hard to use, then such a planner isn’t of much value. Therefore, go for a system that is not so strenuous to navigate and use.

4. Ease of Access 

Cloud-based budget planners are highly advantageous – anybody, could be you, your partner, or team members, can access it at will. The best budgeting system allows you the ease of access and collaboration among teams. 

Modern financial services software development focuses on apps that can be accessed easily over different devices. Such options are making bookkeeping and accounting tasks much easier. Therefore, as you search for a budget planner, make sure anyone can access it freely on any device and at any time.

Get a Tailor-made Budget Planner!

You can improve how much you spend and save if you set realistic goals and track your income and expenditure. An online or offline budget planner allows you to monitor your spending for a chance to lower debts while at the same time, improving the savings.

Any of the planners discussed above is an appropriate choice if you are looking for something to boost budgeting efforts without worrying about lost efforts, money, or even time. However, it would help if you understand your current needs before settling for a particular budgeting system.

Moreover, if you want a customized budget planner, Diceus is the company to consider. Head over here https://diceus.com/industry/banking/, to start your journey to rationalizing your process for higher performance and profitability.