Before going out on your own, there are a few things about money and your personal finances you need to know. Being able to budget and save money will help to ensure you are financially able to take care of yourself without depending on anyone else. It is important that you know what is happening with your money.
The first step in getting a hold of your finances is making a budget. A budget is absolutely necessary in determining where your money is being spent, and where it should be spent.
Setting realistic goals when making a budget is a must. There are some things such as games, expensive dinners, and pay per view that you can live without. While other things including food, clothes (although you could live without designer clothes and a hundred pairs of shoes), insurance, fuel, auto expenses, child care, etc. that you must make room for in your budget.
After drawing your initial budget stick to it as closely as you can for a month. You will most likely have to revise your budget a few times until it meets your families needs and works as budgets should. Which means your spending will be reduced and your finances will begin looking better and better.
Programs such as Quicken and Microsoft Money will help with setting up your budget. There are also many online tools that can be used to keep track of where your money is being spent and help you save and budget so that you do not continue to spend on things you do not need. Some of these websites are set up for families with more than one person spending money. If you are living close to or over your income and trying to pay off debt, there are websites that can help you accomplish this.
Here are a few of the top free websites that will help you with budgets, goals, saving, tracking your spending habits, and getting your finances in better shape.
- Budget Simple – Budget Simple is a free, easy to use online budget for your family. It will help you find out where your money is going, and the best way to cut unnecessary expenses.
- Mint.com – Mint brings all your financial accounts together online or on your mobile device, automatically categorizes your transactions, lets you set budgets and helps you achieve your savings goals.
- Just Budget – Looking for a way to finally manage your personal budget successfully ? Tired of all those complicated method ? Just Budget is for you. in less than 5 minutes a day, you’ll gain so much information about your own money and your day to day habits.
There are many other websites and tools that were made solely for helping individuals and families set up a budget, see where their money is being spent, set goals, pay off debt, and save money for the things that are really important to you.