Budgeting can be intimidating if you feel like you’re just plain bad at managing money. Whether you don’t know where to start, or you just have no clue how to track your spending, you may feel like a lost cause when it comes to budgeting smartly. But this doesn’t have to be the case! New additions to technology have made budgeting simple for everyone.
One of the best examples of this is Mint from Intuit. Mint can be accessed on any web browser but also features a sleek app compatible with both iOS and Android devices. Mint is easy to use and can make anyone a budgeting pro.
If you are trying to get your finances in order, then consider signing up for Mint and learning how to use it with these four simple steps:
First: Link All Your Accounts
The first thing you want to do after registering for Mint is to create a password and link all your accounts. You can connect your savings and checking accounts and other types of financial accounts like PayPal. Mint is extremely secure and protects all your account information. Mint will provide you with an overview of your finances and show you your spending trends to help you create a functional budget.
Second: Connect Your Debts
After connecting all your banking accounts, you can connect your loan accounts as well. You can link your credit cards, mortgages, and student balances to Mint. Like with your bank accounts, Mint protects your information with near bank-level security. This will help you track your bills and achieve debt repayment goals.
Third: Create Monthly Budgets
Next you will want to set up your budget plan on Mint. This is done by creating various purchase categories and assigning different dollar amounts to each according to how much you want to spend. Since all your accounts are linked, you can see how much money is leaving your accounts and view all your planned expenses. Plus, you can clearly see your debts as well. For example, if you make a payment on your title loan you will see that expense come out of your checking account and then decrease the balance you owe on that loan!
Fourth: Make Savings Goals
You can customize your Mint profile to fit your needs. This means Mint can help you keep track of your spending and see whether you have gone overbudget in any one category. Seeing how much closer you are to your savings goals each month can encourage you to keep saving a little more each time. With Mint, you can make timelines for these savings goals so you can see realistically how long it will take you to get there.
In conclusion, just because you are intimidated by budgeting doesn’t mean it can’t be an incredible addition to your personal finance habits. With an amazing app like Mint, budgeting can become second nature to you!