Budgeting Planners You Should be Using in 2023
January 22, 2025 | Posted by: Sherry Corbitt
Are you ready for 2023? The exciting beginning of a new year brings the opportunity to create new goals and plans. Yet a new year also should include coming back to your budget. We should all be adjusting our budgets every year. If you believe yours does not need to be changed, consider if you need to be writing down your budget more effectively. Many planners are made explicitly for sticking to and reaching your budget goals. There are two main categories of planners; online and hard copies.
Online Budget Planners
With how attached we are to technology today, having your budget planner on your device can be helpful. You can always have it on you wherever you go. Also, if you make adjustments to your budget and like to re-format, then being able to do so online may be done effortlessly. There are a few popular online budget planers, which many Canadians have benefited from using. Some of these programs include Mint, BudgetSimple, and BudgetTracker.
Review of Main Advantages
-Accessible at all times
-Can be re-formatted whenever
-Adjustments can easily be incorporated
Review of Main Disadvantages
-Too many features can become overwhelming
-Security risk
-Can easily be changed accidentally
Budget Journals
Another type of budget is budget journals. This is a smart option for many since some may prefer to write down their budgets. Your information can stay organized, especially if the journal has specific sections to write about your separate finances and expenses. Using a journal may feel less of another device task and can even be more enjoyable, especially if you are device fatigued. The issue, though, is that it can be easily misplaced or left somewhere, especially if you are in a hurry. In addition, some journals, especially good-quality ones, can be costly.
Review of Main Advantages
-A set budget that will remain fixed
-More Enjoyable
-Less stressful
Review of Main Disadvantages
-Less accessible
-Can be easily misplaced
-Higher cost
Printable Budgets
This is another type of hardcopy budget. The difference between this and a journal is primarily the format. A printable budget will not be in a book format and can have its organizing system. Most people find fantastic budgets online and print them out for use. This can be useful if you want something already made. Printable budgets are also easy to follow, especially when choosing one you like. Yet it can difficult to adjust some of these budgets for your budget since someone else made them. Since it's printed, it also can be a challenge to keep all your papers organized.
Review of Main Advantages
-Perfect for those who don't like budgets
-Easy to follow
-Effective long term
Review of Main Disadvantages
-Difficult to adjust
-Challenging to keep all your papers organized
-Possesses the chance of being damaged
We all are looking forward to starting this new year. Considering some options for planners as we advance will assist you in successfully managing your budget in 2023!
Sources
-Ritter, Kim (2022). 11 Best Budget Planners For Beginners in 2023. Dollar Sanity. Retrieved from https://dollarsanity.com/best-budget-planners/
-Savvy Budget Boss (2022). 10 Best Budget Planners For 2023. Retrieved from https://savvybudgetboss.com/best-budget-planner-books/
