Do you feel overwhelmed by the various expenses you have? Does budgeting stress you out? It's okay to feel stressed by money.
But you can take control and use these methods to organize your finances online.
One of the best ways to track and organize your finances online is to use online banking. Most banks and credit unions have online accounts that you can connect to your existing checking and savings accounts. You can sign up with a username and password, so you can access your account information from anywhere. Online banking lets you track your transactions, and you can move money between accounts from wherever.
You can also set up a mobile app if your bank has one, so you can check basic things on your smartphone. Then, you can always know what your finances look like, and you can fix any problems that crop up.
While online banking is powerful, you can't add or remove cash from your bank account. You can visit an ATM router to deposit or withdraw cash, and you don't have to interact with a person. If you need to go to the bank after hours, you can go through the ATM, so it can be more flexible. Now, you do need to go somewhere to use this method, but you aren't limited to a bank's hours.
In many cases, you can use your debit card at ATMs at other banks. You may have to pay a fee for the transaction, but it's very convenient, and you can see the changes in your online banking account.
Another way to track your finances online is with a budgeting app. You can connect the app to your bank account or card, and it will track your spending and income and put the transactions into different categories. Then, you can see how much you're spending on things like food and transportation. If you never seem to have enough money, this can help you review where you can cut back.
A budgeting app is great if you've never used a budget before. They're easy to set up, so you don't need tons of time to create or manage your budget each month. But they can have some limitations.
If you want more control than what a budgeting app gives you, you can create a spreadsheet in Google Sheets. You can create the different categories that you want to track, from income to rent to fun spending. That can be good if you have a lot of unusual expenses that an app may categorize as miscellaneous. For example, if you have a lot of transactions related to a business, you can include those in your overall budget.
A spreadsheet can take time to set up, and it can be frustrating. However, you can start with a budgeting template, and you can customize it. Then, you can get the exact budget that you want or need based on your situation.
If you own a business or have a side hustle, consider using online accounting software. You can track your business or side hustle income and expenses. Then, you can see how much money comes from that particular source, and you can know how much to pay in taxes each year. This is especially useful if you don't have a separate business bank account. A separate account can help you track these expenses, so an accounting program can play a similar role.
Even if you don't make much from your business or side hustle, start accounting now. That way, you won't have to rush to create a system as your business grows.
Whether you work a traditional job or own a business, you need to manage your finances. And with the advancement of technology, you can do a lot of that financial work online. Consider these tips next time you get paid or have a bill to pay.