Do you know where your money goes? Financial planners will ask you to carry a notepad and keep track of every penny you spend.
How about carrying your credit card and your debit card and avoiding using cash? This way you can keep track of your spending easily. A great tool to assist you in managing your finances is Mint from Intuit and it is free.
You can enter all your assets, bank and credit card balances, loans, etc and get daily reports of bills that are coming due, your net worth and tips on how to improve your finances.
On the overview tab you can set up reminders for upcoming bills and you will never miss a bill payment again.
On the transactions tab you can categorize the income and expenses accordingly so you will have an accurate understanding of where your money is.
Easier to come up with a budget (on the budget tab) and cut the expenses accordingly if you have other financial priorities. You can export the report to CSV, which is a way to collect data to be exported to an Excel spreadsheet for instance.
You can set up financial goals (on the goals tab) such as paying off debt, saving for a trip, etc and the software will make you accountable. You will succeed as long as you follow through when you receive the alerts by email.
You can go to the trends tab and find out where you money is coming from and going to. You can view your income, net income, spending, assets, debts, and net worth by month, by year, by type, by account and so on. It is really cool.
You can also track your credit score. If you want to buy your first home soon or even buy an investment property, you know how important it is to keep your finances in order.
There are many tools you can play with and come with detailed reports of your financial health. Sign up today and have a better cash flow management system for your personal finance.
“Reduce risks, pay on time, be efficient and save money and time” Renata Magalhaes