By Hope Van Noppen
(Listen to the “Let’s Talk Money with Dave and Reb” podcasts on September 6 and 13, 2024 to hear Hope’s conversation with the co-hosts as they explore the benefits of spending plan and budgeting tools.)
Amongst the innumerable budgeting apps available, it may be hard to determine which one is right for you. But before committing to a specific app or even taking recommendations from other sources (like this blog!), there are some universal tips to take with you before making your decision.
- Remember Safety!
Be careful giving away your banking information to an app! Even if you want to connect your bank account to the app, research how safe it is so you don’t get your information stolen.
- Invest Time.
Every app will require you to invest work into creating your budget and finding out which app works for you. There is no magic app that gives you a perfect budget without you knowing your own finances and working to create a system for yourself.
- You Will Need To Use It.
The best budgeting tool is the one you use the most. Whether that is a piece of paper or a mobile app, budgeting works best with whatever you use.
Starting to budget or plan your spending for the first time can be confusing, but whether it is an app, using envelopes, or an excel spreadsheet, creating a cash flow management plan (a.k.a. budget) can help set you up for financial success.