Tracking your transactions is a great way to view your spending, but a good budgeting app will also encourage you to change your financial habits for the better.īudgeting apps automate a lot of the work a pen-and-paper or spreadsheet budget requires. Budgeting apps are simple and easy to use on your phone or tablet. Excel “revolutionised” budgeting as it was easier to keep up to date as you could import transactions exported from internet banking, but you needed to know how to use a spreadsheet for them to be effective. Pen-and-paper budgets are a classic method of managing your funds, but they can be tedious to create, and you’re limited to the transactions you’ve noted or for which you have receipts. How do you create a budget that shows the big picture without getting overwhelmed by the small details? But setting one up, and monitoring it, isn’t always easy. A budget highlights if you’ve got more money going out than you’ve got coming in.
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