How to Budget Effectively in 2014:

2014 can be the year you finally wrangle in your personal finances. All you need is the information to get you started in the right direction and a little bit of personal resolve, and you can get your budget in order in no time.

You can start with the most basic part: keep track of every transaction you make. Every time you deposit money into your checking or savings accounts, record it. Every time you buy a cup of coffee or go to the movies, keep track of exactly how much money you spent. Knowing where your money is going and where it comes from is the essential first step to getting your finances under control.

You can use tools like Mint.com or other budgetary software to help keep track of your finances automatically. Doing work by hand is helpful, as some of these tools can’t track cash very easily. Other tools can help with more day-to-day expenditures.

Mobile apps can calculate how much money you can spend in a day, and how much you have left to spend in a given day. They are easy to use when you are on the go and keep you organised – which is key to financial planning.

Banking online and using an app is another great way of remaining organised and keeping within your set budget. Keeping track of your expenditure is easy with the use of online tools and keeping you aware of your budget.

Finally, to get your finances ready for the long haul, you can start on a simple savings plan. To ensure that you get more money into your savings account, start moving money into it week by week. Every week, put one more dollar into savings than you did the week before. Put $1 in the first week, and then put in $2 the next week. Eventually your savings will grow very quickly.

Start small and watch your finances grow throughout the year!

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