There are plenty of us who start out with good intentions each month and try to keep a track of our spending, but end up running short as the end of the month draws near.
Services like Moneyboat can help provide a temporary financial solution, when you need some cash for a bill that needs paying before your next payday, but if you want to be able to manage your money as efficiently as possible, budgeting is the way to do it.
Mind over maths
One of the most important aspects about being able to manage your money successfully, is to understand that your finances are just as closely linked with habits and your psychology, as they are with the maths of adding up the numbers to make it all work.
Your mindset and how you view and value money is just as important as understanding how to create a budget that works.
No amount of spreadsheets and software are going to help you balance the books in your favor, unless you at least set out with the mindset that you need to spend less than you earn. It might seem blatantly obvious and a simplistic approach to the problem, but one of the fundamental golden rules of finance is that you should aim to create as big a gap as possible, between your income and your expenditure.