Take control of your finances

Well slynkey girls, it’s officially a new year (hope you ALL had a fantastic and relaxing break) and what better time to whip your finances into shape?

There’s a bunch of free budgeting tools out there that you can make use of – it’s just a matter of finding one that works for you. Here are three very different programmes that do the same job in different ways: they’re all web-based (so easy to check on the go) and allow you to import your bank statements directly.

1. Pocketsmith (http://www.pocketsmith.com/)

For those who have trouble planning ahead, this calendar based app forecasts your cashflow throughout the month and adjusts it based on transactions you input. Basically, you can predict your account balance on any given day, hopefully eliminating nasty surprises and helping you avoid going into overdraft. Setting things out this way is great for looking at the big picture. For example, it could show you how changing the date you pay your car registration by a couple of days could make all the difference to that mid-month slump.

Pocketsmith also enables you to set financial goals and shows you exactly how long they’ll take to achieve. And like most other programmes, you can easily break your expenditures into categories and graph them, see at a glance how closely you stuck to your intended budget, and forecast both income and expenses for up to a year. To get the most out of Pocketsmith, import your bank statements directly in OFX, QIF or CSV format (check your internet banking to see what file types they use) and eliminate the need to enter transactions manually.



2. Who Stole My Money (http://whostolemymoney.com/)

If you’re after simple, no-fuss budgeting software, Who Stole My Money could be just the ticket. Navigate through the interface using the numbered steps and away you go. It’s user-friendly – easy to use, easy to understand and supports CSV bank statements for full automation. It’s easy to see how much you’ve spent and how much is left in each expense category, and keep tabs on the running total. Set limits on each category and when you approach or exceed that amount, you’ll get a warning on the main page. Lots of the extras require you to upgrade to a paid account (for example, goal setting and more comprehensive reports), but if detail is what you want, read on.



3. Budgetpulse (http://budgetpulse.com/)

It boasts that it will "bring your finances to life" and although it's a tad complex with lots of options and widgets, if you love graphs this will be perfect for you. Chart your income, expenses, income vs expenses or net worth; view your projected cash flow by day or month. The clean, simple layout includes an easy net worth calculator and common bank statement file types are supported for importing purposes. Navigating your way through the menu may take some time, but once you get the hang of it, you’ll be hooked by this powerful programme.



Do you have accounts at multiple banks? Budgetpulse allows you to see all your accounts at a glance. You can even set goals and track your progress, and friends and family can contribute money towards them through PayPal or Amazon (although this does incur a fee). Best to stick with cash…


  By Esther Goh