Many people struggle financially. myprepaidcenter balance One friend, for example, moved back home with her parents two years ago and doesn't plan on moving out until house prices drop or she has enough money saved to make the move.

Jeff Szeto, CFO of Avana Capital Corporation and Maytree, shares five good ideas to have in your financial toolkit.
Budgeting Software

A good budgeting software program allows you to easily track expenses and income on a personal or small business level. It also helps you meet financial goals, make new purchases and tuck away money for emergencies. It does this by linking your bank account and working essentially like a smart checkbook. Many of these programs also offer features such as credit score tracking, investment tracking, net worth search and other financial data.

Choosing the best budgeting software depends on your needs. It must be easy to use, and should provide clear visuals in the form of graphs and charts. It must also have the ability to drill down into data to a fine granular level. For example, it should allow you to see the transaction history behind a particular number in a spreadsheet. In addition, it should be compatible with different types of data sources.

You can also find budgeting software that can integrate with other applications and tools, such as Google Sheets or Xero. The advantage of this is that it can help you save time and money by integrating your financial data into one platform. For example, Centage Planning Maestro can connect to your accounts and import your payroll so you can analyze the budgets of each department. It can also display revenue percentages by department, along with yearly financial comparisons.

The best budgeting software should allow you to create a consolidated budget with data from your various systems, such as ERP, CRM, HRIS, and billing systems. It should also offer multiple reporting options and be able to handle multi-currency analysis. It should also allow you to use customizable dashboards, user-based controls and a robust audit trail.

It is also important to note that the best budgeting software should be able to handle complex financial calculations and forecasts. Centage Planning Maestro, for instance, has a clean interface that can turn your spreadsheets into organized databases. It can also perform advanced forecasts and budgeting for years into the future.

Another good option is Datarails, which offers a flexible and intuitive solution for all of your budgeting needs. This software is designed for small to medium-sized businesses and can be used across different devices. It can automatically update your data as it comes in and provides an instant snapshot of your budget compared to your actual performance.
Credit Score Tracker

Monitoring your credit score is important to staying in good financial health. This feature helps you stay on top of your score, provides insights, alerts and a credit simulator to see how certain actions might affect it. It’s easy to access and completely free when enrolled in Digital Banking (U.S. Bank customers only).1 Check your credit score daily and track changes, all from one simple dashboard.

Ready to get started? Enroll in Online and Mobile Banking.
Debt Calculator

There are many ways to manage debt, and the best method may depend on your financial situation. Our debt calculator can help you find the right balance between paying off credit card debt and saving money. You can even use our tool to determine how much you should set aside for emergencies.

To use the debt calculator, enter abbreviated names of each debt you want to include in your calculation, their current balances and interest rates. Also enter the minimum payment you can afford to pay each month for each debt, based on your household budget. Then select either the debt snowball or avalanche repayment method. Both options will show you the amount of time it will take to pay off your debts and the interest savings for each strategy.

Our debt calculator will then display a table with the information you entered. You'll see the current balances for each of your debts, how long it will take to pay them off with each strategy and the total debt you'll have paid off at the end of the term. It will also display the debt-to-income (DTI) ratio that lenders consider when assessing your creditworthiness.

DTI is calculated by adding together your monthly debt payments and your monthly income, then dividing that number by your gross monthly income (income before taxes). This ratio is considered an important factor when applying for credit and can indicate how comfortable you are with your current debt levels.

Debt-to-income ratios are often used by lenders when evaluating applicants for new credit, such as a mortgage or personal loan. A high DTI can raise red flags that you're not capable of repaying a debt load or could be in danger of overextending yourself financially.

The calculator will provide you with a summary of your debt levels and your DTI, as well as tips on how to improve your situation. It will show you what a bigger payment would look like for each of your debts, and help you understand how you can reduce your credit card or loan balances while keeping up with other obligations and expenses.
Credit Card Tracker

While it’s possible to track credit card spending without apps (using programs like Excel or a pen and paper), these methods require more time as consumers manually log each expenditure. For a more automated approach, many financial institutions provide budgeting tools within their online banking portals that can help users prioritize financial goals, track expenses, and stay on top of payments.

There are also a number of credit card tracking apps that can keep consumers on top of their monthly credit card payment schedule, monitor fees and charges, and help them maximize rewards. Some of these apps are free, while others have a fee. One of the most popular options is Mint, which provides an easy-to-use interface to help users get a handle on their spending and set attainable goals. This app also works offline, which can be a bonus for users worried about their phone’s security or those who don’t have a reliable internet connection.

Another great option is an app called CardPointers, which helps credit card holders manage their cards and rewards in a single place. It has a unique feature that allows users to scan their credit card and instantly get a breakdown of their purchases and fees, as well as their balance. This app also tracks bill due dates and sends notifications when a payment is coming up, making it a valuable tool for those who have revolving debt.