Saving money for the future isn't easy, especially if you are a student. The expenses are oftentimes too much compared to the money that goes inside your wallet. But working on it is a must if you want to be financially stable and secured. Just like what CHCH has stated, students should always keep in mind to properly budget their funds. Being cautious in financial stability at an early age can create a huge help in the future.
Practical Money Skills for Life listed tips to help you do your budgeting. First is by adding all of your income together. Then estimating your expenses and figuring out the difference of the two. You can find the difference by subtracting your total expenses from your total income. A positive difference indicates an excellent budgeting because you spend lesser than what you earn. But if it's a negative, trimming your expenses is a need.
You might think that budgeting finances could cost you so much of your time. Well, cheer up because our era now is so advanced that we have apps to help us manage our finances. According to TechTimes, with all the expenses a student usually has: from rent expenses, utilities, party needs to school supplies, budgeting will sure be easier using these apps available on the App Store and Google Play.
1. Mint. This app is one of the most popular apps. It brings your financial accounts together which is great for organizing your data together.
2. GoodBudget. Allows the users to allocate money for expenses into "envelops." Through these envelopes expenses are planned ahead making it easier for a student to see accurately a representation of his or her spending power.
3. CheckPlease Lite. This app lets you calculate your finances especially when your bill needs splitting. For example, it helps you compute how much your friend owes you after splitting the bill.
4. You Need a Budget. This app is free but will require you to install desktop software for a fee. The fee for the software is worth the cost because your data will automatically create backups once your devices be link to your computer.
Other budget buddy apps that could help you budget your finances are BillGuard, Wally, Mvelopes, and Pocket Expense.
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