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Getting the Most From Your Budgeting Software (Part 2) 

by
Marie St. Clare
CFP® - Financial Advisor

January 27, 2025

If you’ve ever tried to keep track of your spending with a budgeting app, you know that the initial motivation doesn’t always last. After a few weeks, categories get jumbled, transactions go uncategorized, and your carefully laid-out budget turns into chaos. At that point, you may be wondering if it’s even worth trying to salvage. 

 

In short: yes! Technology is a tool, and budgeting software exists to save you time and relieve some of your money stress. When you properly connect your accounts, organize transactions thoughtfully, and schedule time to review your budget, you can avoid confusion and know exactly where every dollar is going. 

 

In this second installment of my budgeting series, I will help you set up and — most importantly —  maintain your budgeting software to reach your financial goals. Ready to get started? Log in to Sensible Friends to access the full article and learn how to keep your budget running smoothly for the long haul. 

 

What you’ll learn: 

  • The proper steps to connect your accounts and tailor your categories to reflect your real-life spending patterns from day one. 
  • Optional tweaks like notifications, dashboards, and budgeting features to make your experience more user-friendly. 
  • How to stay ahead of miscategorizations and keep tabs on your spending (without drowning in the details). 
  • How to regularly check reports, compare your data to your broader financial goals, and know when it’s time to tweak your budget. 
  • Tips for avoiding the all-too-common scenario of falling behind or abandoning the app after a few months. 

 

If you feel stuck on how to make the most of your budgeting software, you’re not alone. Log in to Sensible Friends to read the full article — and the entire budgeting series. With knowledge, a clear plan, and the right approach, you can turn any app into a powerful ally for saving, spending, and investing more confidently. 

 

Getting the Most From Your Budgeting Software 

by
Marie St. Clare
CFP® - Financial Advisor

October 28, 2024

The picture shows a woman looking at her phone and laptop. This represents budgeting software.

Are you ready to go digital with your finances? This article is the first part of a general guide for using budgeting software. It will help you get the most out of the budget app you’ve chosen, starting with downloading the app and going through the initial setup. Once you’re confident with your setup, you can read the next article in the series to learn about maintaining a budget app. 

We’ll start with planning categories and deciding how to handle past transactions. Since your expenses are unique to you, you will need to customize the categories in your budgeting software to fit your specific lifestyle. Sensible Financial has a set of spending categories we use for financial planning, which are a good place to start. 

You’ll also need to decide whether, and how, to categorize past transactions. Categorizing past transactions can be overwhelming, but it can also help you get a head start on understanding your current expenses and how to budget in the future. Sensible Financial has some practical tips for when and how to categorize past transactions in your budgeting software. 

This article is exclusively for Sensible Financial members. To view the full article, log in or sign up for free. 

You’ll gain access to: 

  • Sensible Financial’s list of spending categories 
  • Questions to create your own custom spending category list 
  • How to simplify spending categories to streamline your budgeting 

We hear from many clients that they started using a budgeting app and then abandoned it after a few months. This guide for getting the most from your budgeting software will help you make a budgeting app simple and useful enough to turn into a long-term habit. And if you are truly unsure where to start, Sensible Financial’s financial experts can also advise you on how to use budgeting software. We are here to help. 

What Financial Accounts Work Hardest for Young Adults?

by
Olivia Harrison
Associate Financial Advisor

October 22, 2024

The picture shows 3 young adults seated at a table to represent financial accounts for young adults.

Building strong habits early in your career helps ensure long-term security. Some financial accounts work especially well for young adults.

Managing Money as a Couple: Thinking About Marriage 

by
Rick Miller
Ph.D., CFP® - Founder

January 31, 2024

The picture is a silhouette of a couple in the sun to represent the title, Managing Money as a Couple: Thinking About Marriage.

A married couple should care for one another and share values. In marriage, shared financial values matter, too.

Human Capital, Earning Power, and the Retirement Implications

by
Rick Miller
Ph.D., CFP® - Founder

September 29, 2023

The picture shows a woman surrounded by graphics representing careers, education, and retirement to represent human capital.

Human capital is your most productive asset. What is it and how do your career and educational decisions affect your life and retirement?

Mutual Fund Distributions: What, Why, and How?

by
Chris Andrysiak
MBA, CFP® - Senior Financial Advisor and Senior Director of Strategy

January 31, 2023

The picture shows a sign pointing to answers. It refers to the title asking about mutual fund distributions.

If you want to invest in mutual funds without getting hit with a big tax bill, you need to understand how mutual fund distributions work.

Family Economics: The Origin of Sensible

by
Sensible Staff
January 5, 2022

The picture shows a seedling, to represent the founding of Sensible Financial and their emphasis on family economics.

Family economics was a novel concept when Rick Miller was in graduate school. Now, it’s the basis for Sensible Financial.

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This content reflects the opinions of Sensible Financial®. We may change it at any time without notice. We provide this content for informational purposes only. Although we endeavor to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability for a particular purpose or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. We do not intend the information contained in this website as investment advice and we do not recommend that you buy or sell any security. We do not guarantee that our statements, opinions or forecasts will prove to be correct. Past performance does not guarantee future results. You cannot invest directly in any index. If you attempt to mimic the performance of an index, you will incur fees and expenses which will reduce returns. All investing involves risk. You can lose any money you invest. There is no guarantee that any investment plan or strategy will succeed.

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