Creating an Online Budget Planner for all Situations
Yes, BUDGETING ISN'T FUN, but it can be satisfying when done right. When budgeting correctly, you provide the best results for your income. You also get the most out of life by budgeting better.
Same as humans don't come in one model with one kind of brain, Budgeting Programs present many versions. Some come with basic features and some come tweaked with extra features. Some work for some brains while others work for other brains.
Everyone reads and understands things differently. We've tried hard to develop a budget tool and calculator as simple as possible to understand and use. We provide an instruction page with examples and tips on our “How-To” pages to help you navigate and solve your budgeting issues.
What to look for in a Budget.
The first thing to do is to find a budget that goes beyond the norm.
- has some features that help by being logical or psychologically better.
- can help by having superior information
- has some great calculator/apps
- let you know how well you're budgeting overall.
All of these features though are only useful if people pay attention to the budget and its features. So, if you’re going to use a budget then it must be used properly in order to get the best results.
A few of the major issues facing budgeters are as follows:
Income
Salaried people get paychecks twice a month so it fits the monthly concept of budgeting.
There are many people that get paid weekly or every second week. That doesn’t fit well with the monthly system. Does that cause problems? Yes. YBP has come up with a nice simple tweak that solves the vast majority of people’s problems and solves savings problems as well. Please read the instructions page and see the example.
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Savings
People are always complaining about saving money. It is a curse and very hard to get around. Humans tend to overspend and they also tend to say they will save some funds next month. There isn’t really any way to stop this trend. However, YBP has put the Savings budget category before the expenses section. There are some excellent Savings apps to help set up even the most rudimentary of a savings plan. All you have to do is set up one little savings plan. From there on, the program will remind you to add funds every month. It will keep reminding you until you automatically remember to add some funds to your Savings planners.
Expenses
People like this category so much that they keep overspending. That also means going into debt. YBP tries like crazy to advocate good spending habits. It does have a Debt Repayment Planner that will help you pay back any bad or excessive debt. Debt usually comes with penalties that are lost funds, never to be recouped.
Other Budgeting solutions.
Targets
YBP uses a setup of Targets (or limits or averages). These targets help create a balanced budget. The sum of the savings and expenses targets can’t add up to more than the income. If you try it the program will tell you have made an error. There are flags that will appear when information seems wrong or is poor budgeting. These flags are meant to help clients stay on budget or improve their budgeting habits.
Handling cash
Some people handle cash well and others don’t.
Envelopes: for those people who handle cash well, the monthly system and bi-weekly system both support the idea of taking some cash out of the bank and putting it in envelopes (or other containers). Only take home as much as can be handled easily. This is also a great way to keep to your limited amount per category. When the cash is gone there is no more to spend (and go into to debt).
For those that don’t handle cash well (they spend it too quickly) then leave it in the bank. Use a bank card. While it can be spent fast as well, it least it isn’t burning a whole in your pocket. It does seem a little more remote.
Credit Cards
For those people who can’t handle credit cards then either cut it up, stick it in the freezer in a block of ice or get a super low spending limit on it and make sure the credit card company doesn’t allow any overages (if that is possible).
If you can handle your credit cards, then just make sure your spending limit isn’t too high. Everyone seems to lose a little control now and then so a low limit is better than a high limit.
Debt
While debt can easily be created it can't easily be reduced. When budgets are run properly then debt doesn't happen easily, it doesn't build up much and it can be paid down in a reasonable fashion. When debt is already built up then a good budget should draw attention to it and try to help reduce it.
Your Budget Plan is here to help you live a well-planned life by learning and budgeting smartly.
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