Earning money is not easy, but managing your finances is another ball game altogether. But what is important is to have a budget so you will be able to clearly see where your money is going, manage your expenses and plan for large expenditures.
There are plenty of budgeting methods out there – from the Japanese Kakeibo method for keeping household accounts, to Elizabeth Warren’s elegant 50/20/30 Rule, and even the multi-faceted Envelope Budgeting system – each with their own strengths and quirks. Finding one that suits you is simply a matter of trial and error.
No matter which budgeting system you choose, budgets do require some effort on your part. At the very least, you’ll need to record your expenses and make some calculations.
But wait. You don’t actually have to keep a ledger to scribble in, grunting all the while (unless that’s totally your thing). Instead, try using a budgeting app or two.
To help you get started, we’ve picked out eight of our favourites.