In today’s society, many families and individuals are turning to different digital budgeting methods to help with their finances, so they can find where the spending is out of control and where they can cut back. With the use of apps and other free software available to you, finding a digital budgeting method for you has never been easier. You can budget digitally with:
- Budgeting Apps
- Free Excel/Sheets Software Spreadsheets
The Best Digital Budgeting Apps
Since we always have our phones, it makes it easier to budget with different apps and systems. If you have a smart phone, you most likely already monitor your bank account and credit cards with various mobile banking apps. Here are ways you can digitally budget with your phone.
Best Overall Savings and Budgeting App
Mint has been a leading app for budgeting for quite some time now. It’s free to use and is available for iOS and Android devices. Mint automatically updates and categorizes your transactions and creates a real time picture of your spending habits.
On top of the categories Mint provides, you can add your own. Using the app, you can pay bills, split ATM transactions into purchases made with cash, set budget alerts, and even obtain a free credit score.
Best Budgeting App for Hands-On Individuals
You Need a Budget is an app for the committed. It does cost $83.99 a year, or $6.99 per month. The software directly imports transactions from your bank accounts, but they need to be manually categorized. It also has an “envelope-based system” that allocates the exact amount of income available where you need to go.
Best Simplified App
If you’re looking for a straightforward app, PocketGuard makes it super easy for you. It boils it down to how much you’re spending, and you can view what’s left for the day, week, or month. You can also use it to track spending in different categories.
Best App for Paying and Tracking Bills
Prism allows you to see your account balance and bills all in one platform. You can pay your bills directly from the app or schedule them to be paid. It will even send you date and confirmation notifications.
Best Service to Do It All for You
Albert is like a personal assistant for all your finances. He keeps track of all your accounts and provides actionable, easy recommendations to improve your financial health. He will also create a budget for you based on your spending habits, bills, and income. Albert will even set aside portions in your savings to help grow your account.
Free Excel Source for Digital Marketing
Another hands-on approach to help you be more active in your digital budgeting is to use different Excel or similar spreadsheet software to track your budgeting. Many websites and software systems have templates you can use to monitor and budget your finances.
At Vertex42, they have over a dozen different spreadsheets that are compatible with Microsoft Excel, Apache OpenOffice Calc, and Google Sheets. You can find spreadsheets for many different monthly and yearly ways to save:
- Household and personal budgets
- Christmas gift budgets
- Business budgets
- Wedding budgets
- Money Manager Spreadsheet for kids
It’s Your Money Spreadsheets
It’s Your Money also lists several different budget sheets like the Cash Flow Budget spreadsheet that’s inspired by the budgeting methods of Dave Ramsey. If you need a budget for the week, you can try the Box Budget spreadsheet which will break it down each month into four weeks.
Most of these spreadsheets work with any Microsoft Excel program 2000 or later with macros enabled, and some will work with OpenOffice Calc for free. They have a variety of free and low-cost personal management spreadsheets.
PearBudget is a free and comprehensive household monthly budget spreadsheet that you can download and use with Microsoft Excel, or any other spreadsheet software that supports .xls files.
The analysis tab allows you to look at your expenses by month and even budget category and shows the difference between your actual spending and budgeted spending.
Google Sheets Spreadsheets
If you don’t want to download a software or take up room on a laptop/computer, you can use Google Drive on any phone, tablet, or computer to access Google Sheets and the preset templates they have. Using the Google Drive template gallery, there are some great options for budgeting that you can use in the sheets option:
- Best-Personal-Budget-Planner – comprehensive budget spreadsheet, embedded spending and budget summary graphs
- Simple Budget Planner – compact budgeting spreadsheet, lets you budget expenses by percentage of annual and monthly income
- Yearly Budget Template – detailed yearly and monthly budget tracking spreadsheet, lets you project income and savings/keep record of actual income and savings
If you prefer Google Drive, you can even find some of the same Vertex24 budget sheets above in amongst the Google Drive templates.