9 Ways to Create a Monthly Budget if You Don’t Have One

8) Use a Spending Analysis Tool

If you feel overwhelmed at trying this on your own, use an app to help you. There are plenty which can take the pressure off what may seem a laborious task. Many of these apps are free to download to your iPhone or Android. So, let your smartphone get a little smarter and do the work for you! This can save you time and frustration as a result. Once you set the app to automate your spending, you’ll be able to identify where you may be wasting money, and can therefore make some adjustments. This way, you can optimize your spending and factor in a savings plan as well. There are also apps to assist you in paying down debt, avoiding over draft fees, and generally assist with creating a greater financial health. There are numerous choices, so read the user reviews before you decide on which one.