Developer: Paul Chitoiu
Price: $0.99 Download on the App Store
Tough economic times or not, financial experts are constantly reminding us of the importance of having a budget to manage bills and to find money to save. If you’re one of those people who find budgeting akin to a root canal, then check out Balance Forecasting, a new app from Robert Chitoiu.
The simple goal of Balance Forecasting is to manage your funds by seeing how much money you’ll have on any given future date. By plugging in a few items and making routine updates, Balance Forecasting is easy to set up and quickly gives you an overview of the entire month, or even year.
The advantages of Balance Forecasting are its fairly streamlined design and user-friendliness. With the ability to quickly create entries for recurring bills, one time bills as well as income, and set the dates for each repeating entry, you can not only see if there is enough money at the end of the month to pay it all, but also see when your bills are due and when and if you might fall short.
Choose between two views—Forecast and Calendar—to get a glimpse of the future.
Balance Forecasting can serve multiple purposes in personal finance and money management. Not only does it give you an overview of your monthly expenses compared to your income, but it allows you to see your monthly expenses over a course of time. You could easily see when and where there will be extra money, allowing you to forecast your ability to create savings. If you see a shortage, you can also plan accordingly. And because Balance Forecasting has the ability to change dates, account for unexpected expenses or income, or even delete entries, you have flexibility.
If you think you don’t make enough money to start saving, pay off debt, or just don’t know how your monthly budget will play out, then Balance Forecasting could be the best use of an extra dollar. By quickly seeing your potential account balance, you are able to create, follow and readjust your budget as needed. If you create entries to match automatic online bill pay through your bank, you can easily see your account balance at any given moment without the need to log in to your bank account.
While Balance Forecasting isn’t overly sophisticated and doesn’t cover every aspect of personal finance, it is a very well done budgeting tool that helps you organize and compare expenses to income. For those who have never created a budget, Balance Forecasting is a good place to start.