Finance is one of the most crucial aspects of our lives. Whether for an individual, family, or business, good financial management is the key to success and stability.
To help in managing finance, there are several tools for the best finance that can be obtained easily. In this article, we will briefly discuss when the right time to use financial tools, their benefits, and the best tool choices.
When will we need financial tools?
Before we get into a list of several finance tools, let’s talk about when we should use these tools.
There are at least four signals that we may need financial tools: it is difficult to manage a budget, then it is difficult to track expenses, it is difficult to determine a financial plan, and we don’t have savings.
1. Difficulty managing the budget
If we feel it is difficult to manage our monthly budgets, especially if we frequently exceed the budget, then we need financial tools. With financial tools, we can regularly monitor how much budget is still remaining and where the funds should be allocated.
2. Not knowing where the money goes
Surely some of us often feel like our money runs out quickly, the feeling that we never buy things, whether for food, shopping, or entertainment? So, at times like that, we need financial tools because every expense can be tracked wherever it goes.
3. Not having a financial plan
A plan is the most important process for achieving our financial goals in the future. If we don’t have it yet, then we need financial tools that allow us to achieve our financial plan effectively and efficiently.
4. Have no savings
Difficulty saving is a general problem that people often face, even though saving is a foundation for achieving financial freedom in the future.
If we don’t have savings, we can rely on financial tools to help us identify our expenses and provide recommendations on how to save more money.
The advantages of using financial tools
There are numerous advantages to using financial tools. The most important thing is that it helps us achieve our financial goals in the future. Aside from that, there are many other advantages that we should know.
1. Keep track of expenses
With financial tools, all types of expenses can be tracked in detail, along with nominal information and where they were spent. Knowing expenses in detail has the benefit of helping make wiser financial decisions.
2. Financial planning becomes better
From records of expenses and income, we can easily create financial planning that is more mature. Tools are also able to predict how far our current financial position can achieve our planned financial goals.
3. Save time in recording
With financial tools, the recording of expenses and income can be done automatically. So you can save more time recapping daily or monthly financials.
4. Financial stability is maintained
Controlling finances with tools can help us reach financial stability because expenses and income can be monitored on a daily basis.
Some of the best financial tools
We already know that financial tools have many benefits for maintaining financial stability, so what are the best financial tools available right now? Here are some recommendations
1. Monefy
The first financial tool is Monefy. Monefy is a financial recording application that is suitable for individuals. With the main feature of recording expenses according to category, Monefy can also connect with bank accounts.
Monefy can be obtained for free on Android and iOS smartphones. One of its advantages is that the interface is easy to operate by various groups.
2. AndroMoney
Next is AndroMoney; this application has a rating of 4.8 on the Play Store with over 257 thousand users. Like Monefy, AndroMoney also makes recording expenses and income its main feature.
Recording data from AndroMoney can be exported into an Excel file or Google Sheet, making it easier for us to analyze it in more detail.
3. Wallet: Budget Expense Tracker
Wallet is a financial tool with an interface that is light and easy to operate. We can record all types of expenses and income, then group them into categories that we have created ourselves.
Wallet has also been integrated into a bank account, making it easier to keep track of the remaining balance. If we need a financial report, we can export data from Wallet into an Excel file or a Google Sheet.
4. Sepran
Next there is Sepran, a financial application that is available for Android. The main feature is recording expense-based categories. With this feature, we can see what the largest expenses are during the spending period, making it easier to manage money and determine future financial steps.
5. Sribuu
Sribuu is a financial recording application created by the nation’s children. The difference between Sribuu apps and others is that Sribuu allows us to easily connect bank accounts.
Transactions made on accounts are automatically recorded directly in the application without the need for manual input. Not only saving, Sribuu also has investment features that can provide important recommendations about gold investment.
6. Teman Bisnis
If the previous financial tools were better suited to personal finance, this time there are financial tools for small business owners, namely Teman Bisnis. Teman Bisnis has various features and is suitable for business, starting with recording transactions, monitoring accounts payable, financial reports, and checking merchandise stock.
Teman Bisnis can be obtained for free on the Google Play Store. Currently, the number of users is over 100,000, with a rating of 4.3.
7. Google Sheet
For those who are used to dealing with tables, For those who are used to working with tables, Google Sheets can be used to record your finances. In appearance, it may be nicer and easier than other applications, but to get data analysis, we have to input several formulas.
8. Fintelite OCR+
The last financial tool is OCR+ from Fintelite. This tool is very suitable for businesses in the lower to upper middle classes because its features not only record transactions but also automate business invoice recapping.
OCR+ Fintelite can extract physical data, such as bills, invoices, and receipts, into digital data, which may then be automatically categorized.
With OCR+, recording work and recapping can be more efficient and accurate, minimizing the risk of errors made by manual labor.
Financial tools help with better financial management
These are some financial tools that can be tried out for free on mobile devices and computers. In an increasingly financially complex world, having the right financial tools can make a big difference in managing your money more effectively.
Choose one of the best financial tools according to your needs and preferences so that financial management can be improved.
