Online Money Management Tools – Benefits of Using Them

 

There are so many expenses occurring on a monthly basis that we can barely keep up, considering the sheer number of transactions. There are monthly fees for subscriptions, unforeseen expenses, paying bills, buying something you want or need, insurances etc.

With all of the systems in place, keeping track of your current resources and how much you will need for the days ahead becomes progressively more difficult. Luckily, there are solutions for these issues, and they come in form of online money management tools.

Here we are going to examine some of the main benefits of utilizing online budgeting tools. We are also going to compare two of the online financial planning tools, in order to help you evaluate the tools you are going to use in the future.

 

Customized reports and calculations

Much like the term suggests, online budgeting tools allow users to keep track of their income and expenses. To elaborate on this a bit further, they have options which enable you to customize your financial report.

You get to include all of your income centres or income sources, like your job, side projects, property lease etc. You can also create a list of your expenses, like buying clothes, gas, pet food, and expenses like bills, scholarship, subscriptions etc.

The best thing about it is that you can do this for daily, monthly and annual expenses. Once you have provided the app with an accurate input, the app will do all of the calculations for you, making it  easier to organize your finances.

 

More flexibility in terms of strategizing

The app allows you to create a category for each income and cost centre, and also calculate when you can expect future transactions. This gives you the opportunity to strategize your future moves with better accuracy, and ensures you won’t buy something you cannot afford.

 

Comparing two online money management tools

Here we are going to compare two random online financial planning tools Cubux and Buxfer.

 

 

Here’s what the landing page of Buxfer looks like:

 

 

Here is a landing page for Cubux:

 

What we can see right from the get go is that both of these providers basically offer the same services to their users. The platforms can keep track of your finances and calculate accurate financial reports. However, Buxfer aims for a more business-oriented look, like a tool that finance managers are going to use, whereas Cubux is perfectly adjusted to be used by the masses or average users.

For starters, the interface is a lot more user-friendly, since people who do not speak English can intuitively figure out where to add their desired category of expenses or incomes, based on the images.

Second, the bar with available languages is immediately presented, so anyone can easily switch to a language they understand. Moreover, Buxfer is designed for desktop users, whereas Cubux is also aimed at smartphone providing the audience the choice to use the service from desktop or smartphone.

 

So, the apps more or less offer the same features, and it all depends on what are your needs, whether you want to easily manage your monthly incomes and expenses, or if you need a more complex tool to help you with your job.

 

All things considered, it is good to know you can easily manage your finances today by simply relying on user friendly tools like Cubux.