Nearly every small business goes through difficult financial times at some point, so it’s wise to prepare for these rainy-day situations in advance. How well you prepare makes a difference in the long-term success of your business. Understanding your monthly budget and developing a plan to stick to it may save your enterprise from failing in tough times.
You don’t need to pay big money for robust budgeting and financial planning tools online to help you plan for your business rainy days. You might consider using one of these free online budgeting tools that can get you started saving money right now.
Free Online Budgeting Tools
With an estimated 10 million users worldwide, Mint for Canada may be the biggest free online budgeting tool in the industry. It’s ideal for your small business and individual accounts because it gathers all of your financial data and categorizes your spending. This online budgeting platform has a secure data encrypted platform for linking any of your business’ checking, savings, and credit card accounts. You can let Mint organize your spending into categories, create a budget for your business based on your actual spending, or try out proposed budgets. It’s great for creating charts and graphs detailing your business’ financial situation, identifying any unusual account activity, pinpointing areas where you might be going over budget, and showing you where you can save money for that rainy-day fund.
If you want a budgeting and planning tool but you’re concerned about data privacy and don’t want to give up any of your account information, consider BudgetPulse. It’s a unique option among free online budgeting tools because it doesn’t access any of your personal accounts. This tool doesn’t use complicated software, you don’t have to download anything, and there’s almost no risk of identity theft, because it doesn’t sync your account information with banks.You can use the tool and a spreadsheet to import and export transaction data and do some manual data input for the results you want. Charting, graphing, budgeting options, and advanced tools for managing money help guide your small business financial decisions, and there’s global support if you have questions.
When you download the MoneyStrands app, a free online budgeting tool for iOS and Android, you can connect it to your banks and let it help you plan for business decisions that keep rainy days to a minimum. With instant access to your business and personal finances on the go, it’s easy to stay on top of your cash flow, spending habits, and account balances. Once you link your accounts, this online budgeting tool groups, categorizes, and tags your transaction types automatically, such as “insurance” or “bills and utilities,” or you can create your own tags. One of the first things you might want to do is set up an automatic saving plan for your rainy day account. Convenient tools for tracking your spending, savings, and how close you are to realizing your financial goals are all as close as your smartphone or tablet. With bank-level security features including fingerprint login, read-only access, and 256-bit SSL encryption, this free online budgeting and financial planning tool lets you transact business confidently.
If you’re looking for a simple way to track your spending, keep to a budget, and pay down debt, BudgetSimple is a great option. This free online budgeting tool looks at your income and expenses, and suggests ways you might be able to save money and reduce your debt level. While the free version of BudgetSimple doesn’t allow for linking bank accounts directly, the $5 per month Plus plan of this financial planning tool offers that feature.
You can be prepared for stormy weather business-wise with a little effort and wise planning. Free online budgeting tools help you save money for your business’ rainy days. Always know exactly where your business stands. Make smarter business decisions now with Quickbooks.