The customer can determine what type of cash flow they will have over the next several months and can help with their cash management.Įven simple Excel spreadsheet templates may offer categories such as housing, groceries, education, and transportation for budgeting purposes.
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You can also see all your finances, including accounts at other financial institutions, in one location and set up savings goals and alerts.įor example, the MGI cash flow calendar tool allows you to input future deposits, as well as fixed, flexible, and discretionary spending.
#Personal budget management free
Regions’ My GreenInsights® (MGI) is a free online tool for customers that uses simple charts and automatic categorization to build your budget and follow your cash flow. “It’s easy to see where you fall short,” Gregory says. Some of these tools allow you to allocate expenses based on percentages, plug in your monthly pay, and create an automatic spending plan. Additional online budgeting tools are available from Regions, Quicken®, QuickBooks™, and Mint®. “You’ve got to find what fits your personality and lifestyle, or you may find it difficult to stick to it.”įor instance, Regions’ budget calculator can help you categorize and track spending for budgeting purposes. It’s just a matter of knowing which one works for you.
#Personal budget management how to
Plenty of high-tech and low-tech tools can also help you learn how to budget. Step 3: Use Tools and Technology to Help Budget Putting away at least 10 percent of your take-home income in a separate savings account can help you prepare for an emergency or reach a long-term goal. Determine how much you can save each month, and make sure that is the first money you move. Then, subtract these costs from your monthly income.īefore assigning the rest of your income to discretionary spending, remember to pay yourself first.
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Rather than thinking of a budget as a drastic monetary diet, see your spending plan as a way to buy your financial freedom. Step 1: Change Your Mindset About Budgets Here are six steps that outline how to budget money in a way you can live with. Putting a plan in place will stop money from evaporating as soon as it materializes. If you want to stop living paycheck to paycheck, you can start by setting limits on your spending.