Everybody wants a financially secure life. Everybody wants to be able to afford what they want.
But not everybody can do that.
It’s more about how you manage your money than how much you make. Most people drift farther and farther away from the life they desire because
- They don’t really know where they are
- They don’t have a plan to go where they want.
You need a clear picture of your financial situation and your spending patterns. You have to make a plan to stop the leak and redirect your money to support your goals.
For your budgetary plans to work, you need a medium to track and assess
- What you have
- What you owe
- What you make
- What you spend
Pen and paper? Although it is certainly better than not tracking at all, it is not really easy, healthy or helpful.
First, you have to carry a notebook with you and make the entries and calculations manually. Unless you are a seasoned accountant, this process is difficult and susceptible to errors and omissions.
Also, you need to look from various angles so that the data to makes sense and gives you clues for managing your money better. With pen and paper, you are not much wiser in terms of the bigger picture.
Because you should be able to look at your data and see
- Where your money goes. Rent? Food? Coffee?
- Do you tend to spend more when you use credit cards?
- Which months do you spend more or earn more
- Which income source you should focus on
- Which debts cost you more
- How your debt, savings or investments change over time
This is why a financial software is a much better tool. Many desktop applications are capable of accomplishing what pen and paper method lacks... As long as you remember to write down your financial actions during the day and dedicate time to sit in front of your desk and enter your transactions every single evening.
So while it gives you healthier data and better understanding, it doesn’t make sticking to a budget much easier. Your tool of choice should be less demanding.
You need a smart but mobile method that you can create entries on the spot.
This is what Budget Factor is.
It is a smart, mobile and easy-to-use personal finance application.
What is more, it is built on universal accounting principles. This means that it does more than track your expenses. It rests on all four pillars of personal finance: Income, expenses, assets and liabilities. With Budget Factor, every transaction is recorded with corresponding logs in terms of expenses, debt, income or savings. It gives you the complete picture.
Budget Factor gives your finances a solid foundation, helps you stay on track with a few taps and arms you with tools to assess your financial reality from different angles.
Take charge of your finances and make Budget Factor work for you.
* Now, it is possible to backup your data on cloud. This way, you also have the option to synchronise between other devices and web. Using the cloud service is optional. You can continue to use the application the same way for free. When you decide to use the cloud service, it requires subscription and an annual in app purchase after three months of free trial period. Your financial information will only be available for your own use only.