You Need A Budget is a fine example of a finance app done right. In fact, it’s the first finance app that I’ve ever felt the need to rave about. Why? It’s simple. The app doesn’t just provide a tool and let you get on with tracking your finance; it actually has a method and provides a financial tool that works with that method.
And what’s that method, you ask? Just four simple rules that you can follow even if you don’t get the app.
- Give Every Dollar a Job – that is, make sure you assign every dollar, pound, euro, whatever your currency, an allocated job, a budget if you will. Tell your money what it needs to do.
- Save for a Rainy Day – savings! They are good for a reason, it means that when things crack you in the nuts you have backup to pull from.
- Roll with the Punches – and things will crack you in the nuts! If they do, roll with it; change your allocations to fill in the gaps with things that aren’t used.
- Live on Last Month’s Income – the overall goal, to live on last month’s income. To allocate funds from your bank balance, not from your paycheck.