Do you know that Philippines has the lowest number of people who saves regularly? Do you want to know why?
According to survey, 90% of Filipinos do follow a budgeting strategy, but only 33% actually stick to their budget. Those 33% are the only ones who know where their money goes every month, and the rest, they think they were robbed.
Budgeting is a very important part of personal finance, and listing your expense/income every single day is the most stressful for most people. I can personally can attest to that. I tried listing every expense in paper, in a diary, or even in a planner. When things got digitalized, I tried all the expense/budget APP available, but after testing every APP that promised me the best results possible, most of them failed me. When I was about to give up on searching for that Holy Grail of budgeting, I finally found the one I was looking for just October of this year, I love it, and it’s free. I would love to try it for the full year next year. You could try using this too.
The app is, Toshl Finance.
PROS
- Toshl is designed to allow you to enter expenses in any currency.
- This expense tracking program offers an impressively wide range of apps – for iPhone, Android, Symbian and Windows phones
- You can set an alarm every day to remind you to input your expenses on that day
- It allows you to personally categorize your income and expenses and gives out an excel or PDF report every month.
- It allows you to set a budget on a particular category and reminds you if you are nearing your limit on that particular budget. A budgeting strategy.
- You can export your entries in Toshl.com and Tosh cloud, so that you still retrieve and add data on your laptop/desktop or other mobile devices.
- Get reminded about bills so you’ll not miss a payment.
CONS
- The free version allows only one budget or monthly income at a time.
- It lacks a direct link to our bank account, but for me, this is good, so that if your phone gets stolen, you don’t have to worry that they can get your critical bank details.
- The graph reports are pretty limited.
VERDICT
Toshl Finance is a very straightforward budgeting app, incredibly easy to use, the pages are simple and uncluttered. This is very easy to use budgeting app that lets you list your expenses, income and do the budgeting. Gives you reports and graphs you can use to analyze and compare your budgeting from actual to projected and from the previous month to the present.
They said, budgeting is hard, yes, I tell you it is. But as they say, those things that are hard to do are most of the time, the right thing to do.
Budgeting is a cornerstone of every financial decision, it is very important element in building your financial foundation. By listing every expense, income and following a monthly budget is a discipline that a person or family would want to have and to make it a habit is divine.
Kick-start your financial life. Start right. Try the APP now, it can change your whole financial life for the better.
Still, if you still want to use the pen and paper, here is my free downloadable version:
Free Monthly Budget Planner and Expense Tracker for 2015
Watch out for the next post of this series:
How to Create a Budget That Gets Things Done!
Do you want to get me as your personal Financial Consultant? Ask me here.
Wishing you a Prosperous year ahead,
More Good Reads:
- 5 Money Habits To Avoid Telling Your Kids
- 10 Signs You Are A Money Smart Mom
- Free Monthly Budget Planner and Expense Tracker for 2015
- 20 Bad Financial Habits to Avoid in 2015
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