Happy New Year! After several months in beta and several more months in development, I’m happy to announce that version 1.0 of Budgeting Buddy is now available!
What is Budgeting Buddy?
Budgeting Buddy is an app that helps you track your financial health. I’ve tried several other tools and software to manage my finances, but none of them really resonated with me. So, being a software developer by day, I decided to write my own. If one of your New Year’s resolutions involves getting better with money, Budgeting Buddy might be just the thing to help you.
How is this different from other apps out there?
It’s simpler. There are three steps you can take every month to improve your financial health:
- Create a budget. This is a plan. It’s you telling you where your money should go. But, you’re an adult. You should be allowed to buy a treat from the impulse aisle at Walmart or pick up a new TV because your current one isn’t quite big enough, right? Wrong! No one has an infinite supply of money, and as an adult, it’s your job to plan your impulse buys ahead of time while saving some money for the future.
- Track your financial health and spending. This your chance to see how well you stuck to your budget. Do your bank and credit card statements match up with your plan? Do you need to change your budget for next month?
- Set goals. Got a credit card to pay off or a car you want to save up for? Maybe your goals are bigger – pay off the house or maybe retire with a million dollars in the bank. Budgeting Buddy helps you track your progress and get to where you want to go.
Budgeting Buddy focuses on making it easy to do these three things.
It’s more secure. A lot of apps will offer to link your bank accounts so that all the statement transactions can be synced up in one nice neat place. Sounds great, right? Well, not to me. I’d rather not trust some third party app with access to my bank login and account information.
It forces you to pay attention. The other reason Budgeting Buddy doesn’t link to your bank accounts is you lose track of what’s really happening with your money. Instead of blindly syncing all your transactions, you manually enter them into Budgeting Buddy every month. So, instead of not really looking at the $100 you spent on coffee last month, you actually have to type in all those trips to Starbucks, making you more inclined to cut back. By the same token, if you have to manually enter in that you only saved 1% of your income this month, you might be motivated to up your savings rate for next month.