A Financial Checklist for Choosing and Using a Budgeting App
Getting started with a budgeting app is a straightforward process. Follow this simple checklist to choose the right tool and set yourself up for success.
First, assess your personal needs. Think about your main goal. Do you want to track your investments, get control of daily spending, or share a budget with your spouse? Your answer will help you decide between a big-picture app like Empower and a hands-on tool like Goodbudget.
Second, do a little research. Read through the descriptions of the apps recommended in this article. Choose one or two that sound like the best fit and visit their websites to learn more. Don’t be afraid to try the free version or free trial of a couple of different apps before you commit.
Third, download the app from an official source. Only download apps from the official Apple App Store (for iPhones and iPads) or the Google Play Store (for Android devices). This is the safest way to ensure you are getting the legitimate version.
Fourth, securely link your accounts. When you set up the app, start by linking just your primary checking and credit card accounts. You can always add more later. Use a strong, unique password for your app that you don’t use anywhere else.
Fifth, set a simple budget and be patient. Your first month is about learning and observation. Don’t try to create a perfect, restrictive budget from day one. Let the app track your spending for a few weeks to establish a baseline. Then, look for one or two categories where you can realistically cut back. Review your progress once a week to stay engaged and make adjustments as needed.
