Online Budgeting Options

| December 03, 2019
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Okay, I said “budget” but hang in there. Following up on last month’s series on how to budget for irregular expenses I wanted to offer several solutions that easily allow you track these and more.

Budgeting is simple awareness and we all want more of that. It does not mean we have to start saying “no” to everything – hopefully it means we get to start saying “yes” to more things that matter because we say “no” to things that don’t matter once we know how we’re spending our money. All of the options below have a paid version because I have found that the ones that charge usually have more features – go figure!

 

#1 You Need a Budget – No really, that’s its name. The app requires that you put a name to every dollar in checking, savings, and on credit cards. If you have budgeted before but hated the end of month reconciliation (otherwise known as balancing your checkbook), this is a great tool for you because you will have to do it as you go.

Price - $7/month or $84/year with a free 34 trial

Imports Transactions – Yes, with the option to do it manually at the same price

https://www.youneedabudget.com/

#2 EveryDollar – This program is from Ramsey Solutions who produced Financial Peace University. They follow an “envelope” system where every dollar is allocated into specific envelopes. It also has a healthy emphasis on paying off debt and giving if that is part of your financial plan.

Price – Free or $130/year with 15 day trial if you want transactions pulled in automatically

Imports Transactions – Yes, with the option to do it manually if you want the free version.

https://www.everydollar.com/

#3 Mvelopes – This program is very similar to #2 listed above but at a different price point.

Price - $6/month with 30 day trial.

Imports Transactions – Yes, with the option to do it manually at the same price

https://www.mvelopes.com/

Disclaimer: Make sure you do your own research and due diligence before deciding what software to use. There are many other options, both paid and free, than the ones listed above. Alex Voorhees and Reston Wealth Management do not provide legal, accounting or tax advice. The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual.

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