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Keep track of your daily expenses with Web applications
Since you are Internet savvy, you will probably enjoy using one of the various Web-based applications, some of which even permit you to download, aggregate and categorize your purchases from various financial institutions. Some of the better known free services are outlined below. Applications that synchronize with your online bank and credit companies:
Applications that don't synchronize with your financial institutions, although you may be able to download and import the data yourself:
As you will note, there are lots of options, and it will take time to explore and learn the benefits of these various programs. Then you will have to learn how to use the program you select, create your expense categories, properly "tag" each of your expenses, and produce a report. Given the number of programs and their differences, it's impossible to offer specific help, although you might wish to review our list of categories and use those when you get to step three. Even after you learn your program of choice, remember that the most crucial aspect of an effective spend plan is the process of accurately tracking and recording your expenses. Although many of these programs will allow you to download and import your expenses, you may still have certain items for which you pay cash and you will need to record these. For example, even though the bank record will tell you that you got $300 over the month from the ATM machine, you need to record precisely how you spent that cash and then enter that information into the program. For those that are just learning how to track their expenses and create a spending plan, it might be beneficial to use the manual approach using our worksheets. Once you know how to create and follow a spend plan, then these online programs may be exceptional tools for helping you create your detailed plan. |
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