8 Reasons Why You Need to have a Budget Plan and 3 Best Apps to Help You Create One

If you ever found yourself lost during your adult life because you simply can’t afford the things that you like to do, you need to stop and think. Often, people haven’t set themselves up in a way that allows them to have the money to afford what they deserve. This is the fundamental reason why people need to have a budget in their adult lives.

Preparing a budget for your daily needs is essential if you want to enjoy every bit of your money, as well as making sure that you can spend every bit of your coin in a good way.

If you feel you belong to those who have been struggling financially all their lives, here are eight reasons why you need start creating a budget plan:

Your budget gives you direction: By creating a budget plan, you can find out where every dollar is currently being spent, and this visual representation of the actual expenditures can show you a direction that can be followed. It’s like a roadmap for you to bring many treasures into your life. Moreover, you can reroute your budget plan if ever there are bumps along the way, especially when you see that you’re making mistakes. Surely, creating a budget might take up some of your time, but it can definitely be worth it especially when you constantly update it.

Budget plans reveal waste so that you can dispose or avoid them as soon as possible: The best thing about budget plans, especially detailed ones, is that they can be compared against your actual monthly expenditures to reveal any misuse of your money. When money is being spent on non-budgeted items, budget shortfalls are created. With your budget plan, it can be easily corrected. Remember, if you can identify waste, you can then make the necessary moves to either eliminate them or avoid them in the future.

It can help you control spending: Especially when you find out that you are spending way more than you wanted to, you can now control your spending by adjusting your lifestyle. Maybe it’s something as minimal as an extra espresso shot every day that could amount to 20 dollars a month. This is also applicable when outstanding debt is weighing on the monthly finances. Your budget can show areas where spending can be reduced to find the money to use in other aspects of your financial plan.

Budget plans guide you to set your priorities straight: Especially for families, discussions over the budget can reveal differences in priorities that may often cause conflict. Conversations to address the underlying priorities can also correct the problems and reduce disagreements over money.

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Budgeting leads to an increase in your savings: By having a set budget (and applying the other benefits of having a budget), you can make room for more savings. Short- and long-term goals can be reached through efforts that seemed impossible just months before a budget was created. Savings become the highest priority and money can be saved ahead of paying the bills since every expense is closely monitored and compared to the budget.

It teaches you to start good habits: By building a budget and sticking to it, you can subconsciously discipline yourself in the long run. Efforts to stay within the budget build new spending habits that can be maintained over time. Working within the budget also shifts actual expenses from unnecessary categories into the most essential household items. Money will soon be available for the most important expenses, and debt reduction becomes possible.

It really helps in getting out of debt: Paying debt while still living a comfortable life becomes more possible when you have a budget. With your budget planned ahead, knowing your priorities, eliminating waste, and building habits can really help you when it comes to paying your debt. As less money is spent, excess income becomes available. This is considered your financial margin, and these funds can then be applied to other financial goals.

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It makes you reach your financial goals faster: Finally, a budget plan allows you to achieve your financial goals faster simply because you become more financially efficient every day of your life. Because you eliminate waste and savings becomes a priority, you can easily move toward major goals like funding college education for your children, getting a car, or building a business. Many goals can be set and reached because the budget has been used consistently to monitor your financial activities.

Before technology brought on so many financial tools, having a budget plan was really tedious. Physically writing down expenditures and manually calculating them could have been an arduous task and would discourage anyone to start budgeting. Fortunately, the digital age has opened the doors for various tools and applications, and these can be accessed through your home computer, your tablet, your phone, or all of them at once.

Start off with 3 of the best budgeting tools available online:

BillGuard

BillGuard is one of the most convenient ways to track your money and expenditures. You can keep track of your spending by type, month and location. Also, you can get free access to your credit score and other identity protection tools like data breach alerts.

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The application provides easy connection to credit card issuers. You won’t realize how much you actually need the convenience of easily connecting with your credit card issuers until you start using it. BillGuard can also provide details about transactions, which serves as a useful tool in your expenses tracker.

Also, BillGuard uses crowdsourcing to flag often-reported merchants. This can be helpful during decision making, especially when you don’t have a lot of time to browse through reviews for items that you want to buy.

Creditfix – IVA

When it comes to getting out of debt – be it a simple car loan, housing loan, or something bigger like business debts – a financial application like Creditfix can really help you a lot. Through its website, you can get an “online financial advisor” that can help you fill out important documents, get necessary information about your income and expenditure, and understand various details about your finances. Think about it as a website that works as a personal financial advisor.

Creditfix also provides a platform for you to find the best solution for your debt. The app can give you advice on what you can do to clear any financial obligations. It can even tell you how much you can afford to pay each month during your debt clearing. Furthermore, it can give you trust deed solutions, Individual Voluntary Arrangements, and any other means to resolve any financial challenges you may be in right now.

GoodBudget

Formerly known as Easy Envelope Budget Aid, or EEBA, Goodbudget is a budgeting service that helps you log and allocate your finances. You can access it via your web browser or download the free app on iOS and Android devices from the App Store and Google Play store.

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GoodBudget is a highly visual app. It creates an infographic presentation of your finances, using pie charts for your budget and quirky envelopes for your expenditures. It’s another budgeting tool that can help you keep track of your spending, but still provide a nice visual.

In the app, you can use the “envelopes” to allocate money toward frequent expenses like rent, groceries and entertainment. You can categorize items for saving and emergency funds, and easily customize your envelopes especially for your financial accounts like a checking account, savings account, credit card or cash.

Bring out Your Inner Techie: 3 Steps to Choosing the Right Phone

In this post on Cablenet, we’re going to help you figure out which phone is best for you in 3 simple steps.

The massive development of new mobile phone technology right now makes it hard for consumers like you to adjust to choosing a new phone. Sometimes, developers release new versions of cell phones even though the latest version of their products is in the market for just six months. There is also plenty of competition when it comes to product features.

In addition, the 21st century tech battle forces developers to always improve or advance new software that can elevate their products above their competitors. Companies who create these products also have to keep in mind the buying capabilities of their target market, giving them more value for their money. Considering these two huge factors, contending technology companies now try to ensure the highest quality of their newgadgets – while also preventing consumers like you from spending too much money. This strategy encourages you and your friends to buy and update your mobile phones. This is how rapidly the mobile technology is evolving.

Because of this rapid evolution, you may find it difficult to choose the right cellphone for you. If that’s so, you’ve come to the right article! There are three steps that you can follow to make it easier for you to choose the phone that addresses your inner techie soul.

Step 1: Identify your needs

Get a pen and paper, and list down the all the things you want to find in a mobile phone. It is important to consider the features that can make your life easier in order to maximize the money you are going to spend. You can also put categories in order to make it easy to navigate once you start looking for a phone.

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If you are a student, write the features than can help you in your studies. For example, a mobile phone that has high quality video processing might be a good choice. Why? This can help you get ahead with your lessons by watching educational videos during your break time. You can also always find a downloader so that you can get your phones video whenever you want.

You can opt for one that has expandable memory storage. This might be a good feature for you, giving you a handy tool to store your electronic books or other reading materials.

You can also consider a mobile phone that has a excellent internet features like 4G or LTE. This gives you the power to comfortably do your research on the basics of bookkeeping, learn more about Quickbooks Online and get an A+ on your Accounting 101 term paper.

For working people, consider features that can help you improve in your profession. The number one concern of employees is organizing everything and anything that has to do with their work. Keeping track of scheduled meetings, sharing documents whenever needed, and properly communicating tasks and responsibilities to all parties concerned.

Now, write on your paper a feature that can enable you to connect with your co-workers immediately. Finding the best phone that caters to this requirement can dramatically improve your professional life right then and there. For example, BlackBerry offers default programs like LinkedIn and BlackBerry Blends that can allow you to share messages and documents to many co-workers at the same time. If you are the type that multi-tasks a lot, take note of a phone that has a good RAM in order for you to run email, check your online statements and go over bookkeeping & business services all at the same time.

Step 2: Choose the right Operating System

Picking up the appropriate operating system is the major decision you have to make when buying a phone. Operating system serves as the brain of your phone. Moreover, the system is one of the major requirements in ensuring certain programs and features will function well. The following are the operating systems in the market right now:

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iOS is an operating system developed by Apple Incorporated. IPhone products are the only cell phones that use iOS as an operating system. Apple started using iOS for IPhone in 2007, and the company extended it to other gadgets that they offer. Through the operating system, you can enjoy programs exclusively for Iphone products like iTunes and the App Store.

Android is an operating system developed by Google. This serves as the most popular operating system in the market followed by iOS. Android is an example of open source operating system, and majority of the phones use it. The system offers programs and features by Google while Play Store serves as the program for accessing the services. Customizing the home screens and widgets is the top feature for Android.

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BlackBerry is an operating system developed by Research in Motion. The operating system is exclusive to BlackBerry products. In addition, the system offers programs that are suitable for employees. For example, BlackBerry offers default programs that can aid employees in managing their documents like Docs to Go and Smart Tags.

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Windows Phone is an operating system developed by Microsoft Corporation. One of the objectives of this operating system is to address the problems with the former system that Windows uses – Windows Mobile. The operating system is exclusive for Windows phone products. The interface is aligned with Zune MP3, and it is the only system that observes the design. In addition, the homepage has the ability to display moving information or graphics.

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Step 3 : Educate yourself about the basic features

A phone’s basic features are the default services that can be found on the mobile phone. Sufficient knowledge about the basic features can help you filter through the phones you want to buy. This can also help you align your needs with the services of your future mobile phone.

A high-quality screen is on the top of basic features since this is where you access all the services of the mobile phones. Look for the resolutions of the screen within the specifications area of your desired phone. There are two display technologies that the market uses right now: AMOLED and LCD. 1280 x 720 pixel resolution can already give you a top experience.

A dual-core processor is also a vital basic feature. The processor enables you to use the programs smoothly, and it also allows you to use multiple programs at the same time. It is recommended not to consider mobile phones that still have a single-core processor. Moreover, a quad-core processor is obviously going to be your best option.

Sufficient wireless data access is another important feature that your phone must have. This feature can allow you to connect with the internet anytime and anywhere with good connection. If you plan on buying a phone, look for mobile phones that offer 3G or 4G LTE. This is to make sure that you can access the internet without any problems.

Battery life is another feature to prioritize. The phone battery has the tendency to quickly deplete its power faster than what the review says. Therefore, if the phone that you are planning to buy cannot provide energy for at least a day then try looking for a different model or brand. This might cause you headaches, especially if you are into playing games during your free time.

Memory size also plays a major role in ensuring your phone can keep up with your demands.  It is desirable to buy phones that have a slot for microSD. The memory card allows you to expand the memory up to 64GB. However, if you prefer phones that do not have microSD slot feature like the Iphone, then buy a version with sufficient memory. This is to ensure that you can download and store as many documents or programs that you want.

The quality of the camera is a crucial part of the mobile phone since you cannot have your DSLRs with you all the time. Always remember to look for the megapixels of the primary and secondary cameras so that you can whether see if it fits your needs.

You now know what to look for in a new phone. Now, go and find your perfect phone!