The closest many of us will ever get to budgeting is buying everything in cash, and then stopping when the money runs out. While there are major pros to this method, such as avoiding debt, there are also major cons -- like not really knowing where your money is going, and never having enough money left over at the end of the month to put toward retirement or that dream vacation to Australia.

Not only will using a budgeting tool help you understand where your money is going, but it will also give you the knowledge to get out of debt and into a happy place financially -- and help you realize your dreams faster.

Finding the right budgeting software might not be the most enjoyable thing to do in your spare time, but with the right money management tools, your life will become so much easier.

The best thing about budgeting software is that it’s not intimidating to use. You don’t have to worry about having to make calculations or being good at math -- you just have to be able to follow simple instructions. Then, the program will do all the hard work for you, converting your data into easy-to-understand graphics and pie charts.

Here are a few other reasons why budgeting software can make your life easier.

See all your accounts in one place
Seeing all of your balances, transactions and debts in one place will help you understand your financial situation. Most software will give you the option to automatically connect to your bank accounts, downloading transactions and updating information -- saving you from tedious data entry.

Track your spending
Knowing exactly where your money goes will give you important information on spending patterns, and allow you the opportunity to modify your habits. You can create detailed categories to track your spending, and that means talking about finances becomes much easier as well.

Helpful reminders
Many of the software tools available will clearly show you when you are near or over your budget in certain categories. Some will even send emails or notifications to your smart phone, so you know exactly what you have left to spend and when your bills are due and can stay up to date on your financial goals, no matter where you are.

Reach your goals faster
Enter in a purchase dream -- say, a vacation, a down payment or a car -- and the date you want to achieve your goal. Then see how much you will need to save in order to reach your goal, as well as how the purchase will impact your budget. Budgeting software helps you break down your dreams into achievable financial steps.

Get out of debt
You will be able to manage your debt load and create a plan to get out of debt in a specific period of time. Once you’ve entered in all of your debts, play around with the date you want to become debt free, and see how changing that date can affect your monthly debt payments. You might be surprised at how small increases in your payments can get you debt free that much faster.

Budgeting tools can change your life by reducing stress, making you more aware of your money and helping you achieve both your long-term and short-term goals. Take the time to do your research and find one that best suits your needs.

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