For many single moms, this economy has become a real threat to their financial security. Perhaps, you are feeling the same effects of our worsening economy. With the way the financial economy is going, it’s more important than ever to make every penny count. That’s why we created this article with tips to help you start budgeting like a pro.
At first setting up a budget can be an extremely difficult thing to do for many people, especially if you aren’t very good at holding onto your money, but once you get the hang of it–and learn how to have the willpower to not spend money you don’t have on needless things–you will begin noticing just how much more money you have in your pocket–and in your bank account.
Our good friends over at Mint have developed one of the coolest, and most efficient, personal budget planner that has ever been created to date.
This personal budget planner for single moms has the ability to merge all of your bills into easy to read charts, graphs, and much more to provide you with clear, consise data–or in other words, allow you too see where every single penny you spend goes.
Why Is A Personal Budget Planner Important?
Why is this important?
Because as time goes on, you will see what you spend the majority of your money on, and if it’s needless items, them you can begin cutting back on those items as you go along. You will also have a voisual idea of how much money you make and where it all goes. The Mint application is updated once a day, without you never having to do anything, other than setting it up initially. Once it’s setup with your bank account (or multiple banks accounts if you have them), it will begin analyzing your financial data and providing you with much needed data on your finances.
Is It Safe To Give Mint.com My Financial Information?
You betcha. Their website has a SSL certificate. This means any and all information you provide to the company on behalf of the personal budget planner application, is encrypted with SSL technology. If you notice the “s” in the http portion of the address bar, you’ll know that its a secure website. Also, a portion of the address bar will glow “green”. When your data is encrypted, it means no hacker or “sniffer” can intercept your data…unless you work at the NSA (National Security Agency)
What if you don’t want to use the Mint personal budget planner?
Well, we don’t see why you wouldn’t want to.
However, if you are that paranoid, you could do the following.
If you know how to use Microsoft Excel, you can create your own small scale budgeting excel file. It won’t be as fancy as the one Mint provides, and you’ll have to input data into the excel file constantly. That would get boring very quickly. You can get personal budget planning excel file templates here if you like.
In the excel file, you will need to put all of your monthly expenses into their respective columns and rows. You’ll also need to input your monthly income. If you open up the Excel template from Microsoft, you’ll have a much better idea of how to go about setting up this data based from the template.
A lot of single mothers may be begging the question, ” I don’t need to budget, I just need emergency cash assistance.”
The fact of the matter is, you may well indeed need an emergency loan. But if you first learn how to manage your money, then you will find that you eventually will not need to borrow money as often.