Many of us will make a resolution in 2013 to get a better handle of our finances.
If you are looking to cut expenses or increase the amount of money you are saving, you will likely be developing a budget.
The budgeting process can be as complicated or as simple as you choose to make it. To help you get started, here are five, free tools to help you develop an effective budget.
- Budgeting Worksheet (pdf)
For a budget to truly work it should be written down somewhere. Check out this worksheet from the Financial Planning Association. It’s a good worksheet to help you get started. If this worksheet doesn’t work for you, there are many computer programs, websites, and other worksheets available to assist you. - Retirement Ballpark E$timate
How much do you need to set aside for retirement? To truly answer this question you should meet with a financial professional. However, this online calculator from the American Savings Education Counseling can help you get started with understanding your retirement needs. - Payroll Deduction Calculator
Want to increase the amount you set aside monthly for your retirement account but worried it will impact your monthly budget? This calculator from the American Institute of Certified Public Accountants will help you determine the impact of changing your payroll deductions. - Emergency Savings Calculator
We hear financial experts tell us all the time that we need to set aside money in a liquid account for an emergency. But how much should you set aside? This calculator from the American Institute of Certified Public Accountants will help you determine your emergency savings needs. - More Budgeting Calculators
Money Management International has nearly 500 calculators to help you determine things such as how long should you keep a vehicle, how much you should put down for a new home, and more. Check them out.