- 1 Updating Your Budget: It Doesn’t Have To Be Painful
- 1.1 Easiest and Cheapest Way For Updating Your Budget Using Spreadsheets
- 1.2 Updating Your Budget By Investing In A Financial Software
- 1.3 Putting it all Together
Updating your budget and keeping financial papers together is a still a challenge, even in the age of ubiquitous computing, with smartphones, laptops and cloud services. If you’re at the office, how do you access and update the budget you did last night on your desktop computer or see the information on your smartphone while waiting in line at the bank? The answer is by combining the right financial planning software with a file synchronizing service.
Updating Your Budget: It Doesn’t Have To Be Painful
Easiest and Cheapest Way For Updating Your Budget Using Spreadsheets
Spreadsheets allow you to put all your financial information a grid structure. Everything you need to know in order to stay on track is in one place. The software does the math for you, so there is no guesstimating when adding up the bills or weekly allowance. You create a workbook to manage expenses, track spending and balance the checkbook all in one file. In other words, updating your budget can be a cakewalk using just a spreadsheet.
It takes some practice to master a spreadsheet program, but it gives you more control over the design than boxed financial software applications. You can get spreadsheet programs free in open-source formats like Open Office, or buy one as part of a larger suite such as Microsoft Office with Excel.
If you can confidently construct multiple formulae without breaking out into a sweat, wondering if you’re leading yourself down the path of financial ruin, a spreadsheet will suit you well. If not, it’s probably time to try something else for updating your budget.
You should also read: A Spreadsheet Template To Effectively Manage Your Finance
Updating Your Budget By Investing In A Financial Software
The software market is full of financial programs with many bells and whistles. While a spreadsheet gives you control over the design process, financial software is less flexible, but it sets up faster. You open the application, answer a few basics questions like name and bank account, then just follow the bouncing ball. A few mainstream financial software packages include:
- You Need a Budget
Must Read: 5 Budgeting Applications for Family Use
These programs let you import files you download from your bank–some even let you sync directly with your bank–and even have mobile widgets that connect to your smartphone and tablet. Financial software is an option for both personal and business use, depending on the version you install.
Upfront cost is a consideration. Most of the big boys will set you back a few bucks. There may be an additional cost to integrate banking and investment services with the software, as well. While a spreadsheet offers more flexibility, if you’re just looking to create a budget to get on the right track, picking up a dedicated financial program is a fine option. There are also open source budgeting programs like HomeBank and GnuCash you can download and install for free.
Putting it all Together
Using akeeps all of your records together, whether they’re Excel workbooks, budget program files or PDFs of your payment confirmation receipts. – all information is at your fingertips and up to date for all of your devices.
File syncing is a one-stop shop for every document you store on your computer. Emails, personal correspondence and tax records all stay in one safe place, accessible from home, work or the road. Think of file synchronizing as a virtual lockbox. You create your budget in one spot and store the records in the lockbox.
The digital age means paperless financial records are finally possible, even more convenient. What you used to store in accordion files or on a paper ledger is done electronically. Keep budgeting modern (and easy) with a little help from technology.