Monthly Budget Planner

Creating a monthly budget will help you to decide how to spend your money, pay off existing debt, and free up cash for your savings goals, such as car down payment, vacations, or college. Effective monthly budget planning starts with knowing how much cash is left to spend and evaluating your current spending patterns. moneyStrands simplifies monthly budgeting by automatically organizing all your financial accounts in one place and allowing you to clearly see if you are living within your means. It allows you to understand where the money goes, gives you more control over your spending and helps you to save by providing personalized money saving recommendations.

Gather all expenses in one place

When you begin setting up a monthly budget, start with big expense categories before breaking your budget down into smaller spending categories. moneyStrands automatically categorizes your daily expenses into helpful categories so you can quickly spot if you are burning through your money too quickly.

Separate your expenses into fixed and variable

Try to identify expenses as "fixed" or "variable." Fixed expenses are those that routinely occur each month and are usually for the same amount. Examples of fixed items are your rent or car payment. Fixed expenses are unlikely to change. You can control variable expenses such as utility bills, groceries, and entertainment. Thinking about your expenses in this way will help you identify the expenses you can save on. moneyStrands automatically sorts and graphs your monthly expenses so you can quickly spot your problem areas and start planning your monthly budget accordingly.

Determine the balance

The monthly budget balance represents the difference between your available resources and your expenses. The balance is determined by subtracting your monthly expenses from your net income. moneyStrands automatically calculates the balance between your expenses and your net income and lets you view and analyze your monthly historical spending trends for all expense categories so you can easily keep track of how much you actually spend.

Set up spending goals

We recommend to set a budget for variable expenses like restaurants or shopping first, so you can start to get a handle on your problem areas. Try to cut back 15% or less to make sure that you have a realistic goal so you can stick with it. Personal budget planning is all about saving from your monthly expenses.

Stay on top of your budget anytime and anywhere

moneyStrands tracks your spending daily and updates your budget accordingly so we spare you the chore. Our personal budget feature tracks your progress automatically and controls your future spending by sending you automated alerts via email when you approach your budget limit goals.

What is moneyStrands?

moneyStrands is a FREE and easy-to-use personal financial assistant for busy people who want more control over their financial lives. It automatically gathers data for all the financial accounts you want to track, including savings, checking, and credit cards, to give you an up-to-date, accurate, unified view of your finances. moneyStrands goes beyond providing financial analysis tools by also providing personalized money-saving advice and recommendations, and lets you compare yourself with people who share your background and financial goals. In addition to automated bank feeds, moneyStrands recently added the capability to manually upload your transaction history files (and even to type them in one at a time) delivering the highest flexibility in handling your financial needs.