Why You Need a Budget
In 2013 the Consumer Financial Protection Bureau announced that the average annual overdraft fees paid by consumers were $225 and the study discovered that small debit purchases often pushed the account into an overdraft and insufficient funds fees could quickly turn a small purchase into an expensive fee paid to the bank. These best budget apps can help know how much is in your account and how much you can spend with a glance at your iPhone or Android instead of logging in to your bank account.
The biggest excuses not to budget are time, security and recovering from failures. Once you set up your budget with one of these budgeting apps you can keep on track with notifications and easy to understand dashboards that show you how much money you have. The best budget apps use the same security that banks do, so you aren't compromising your security by connecting to a budgeting app.
When it comes to budgeting a failure is an easy reason to quit, especially when a major unexpected expense blasts your budget to pieces. Instead of quitting, you can regroup just like you would if you splurge and have a cheat weekend on a diet.
In a way a great budget is a lot like a great diet. You need to ease into it or you'll lose your willpower after a week and you need a support system that can help keep you on track. Finally you need to build in cheats. Create part of your budget for fun or for a special item you want to save up for like an iPhone XS or start saving for the PS5.