Keeping track of your finances and staying on budget can be very difficult, especially for busy people who can’t spare hours each month to tweak their budgets. Fortunately there are many resources available to help you with planning and keeping track of your money.
Online calculators are a great resource, especially if you have many loans and you are trying to figure out which one to pay off first. Most loan calculators will ask you for the entire loan amount, the monthly payment amount, the term and the interest rate. You can enter the amount that you would pay each month or year in addition to your normal payment amount. The calculator will tell you how much your extra payments will lower the amount of interest you pay over the life of the loan as well as how your extra payments will change the loan term.
Free Checking Accounts
When it comes to free checking Oklahoma residents have many choices. Free checking accounts are available to most banking customers, even if they don’t carry a large balance in their checking account. Some fees are still charged if the owners of free checking accounts overdraw their accounts or don’t meet the terms of their account agreement, so it’s important for every baking customer to read the terms of their loan carefully before agreeing to open the account.
People who have smartphones or tablets can benefit from the many budgeting apps that are available. Most of these apps are free, and they can help you track your spending in each category. There are also many apps that can help you save money, which leaves you more to add to your savings accounts each month.
It may sound simple, but your checkbook register is one of the best budgeting resources available to you. Keeping your checkbook register up to date will help keep you from overdrawing your bank account because you will always know exactly how much money is left in the account. Relying on online banking or ATM balances gets some people in trouble because they may forget about checks that haven’t cleared yet. Getting into the habit of recording every transaction will help you avoid costly fees.
Your savings account is a wonderful budgeting resource. Even if you are only able to add a few dollars to your savings account each month, your savings will offer you some insulation against illness, unemployment or other personal emergencies. Adding to at least one savings account each month is one of the best things you can do to improve your finances.
Keeping your budget healthy takes time, but these resources will help minimize your stress and keep you on track. Remember to double check all of your accounts at least once per month, as keeping tabs on your budget is ultimately your responsibility.
Guest post written by Madyson Grant. Madyson is a small business owner and a professional writer. Her passion for helping others fuels her writing and her search for more helpful information.
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