3 Situations That Call for a Budget Calculator

Financial Planning 3 Situations That Call for a Budget Calculator-081314

A $100 spent here. A $1,000 spent there. Whether you’re planning for your wedding, buying back-to-school supplies or starting your own business, keeping track of the amount of money you spend on each transaction is difficult if you don’t really know where your money is going. Using a budget calculator for these three situations not only helps you get better control of the money you are spending, it also allows you to see the bigger picture and determine exactly where your money is going.

Here Comes the Bride

The quintessential dress, engraved invitations, flowers and the wedding cake. You want the perfect wedding, but are you sure about how much of a wedding you can really afford? By using a wedding budget calculator such as the one found on TheKnot.com, you can plan your wedding by tracking purchases so you know that you don’t break the bank.

To get an estimate of the costs with a wedding budget calculator, you typically start out putting in the figures for what you would like to spend on your wedding, plus add in the other known figures such as the number of guests you want to invite and how many attendants you plan to have in your wedding party. Once you have these numbers entered, the wedding budget planner can break down the costs into categories allowing you to track exactly how much you spend.

It’s the Most Wonderful Time of the Year

Although many states now offer tax free shopping days to help parents save money on back-to-school supplies, the cost for each individual child in your family can still really add up. The costs go up even further if your child needs equipment for sports or computer-related supplies.

The back-to-school budget calculator created by practicalmoneyskills.com not only lets you know how much money you’re going to need for each of your children, but you and your kids can use it together as a learning tool to help them develop a better sense of what you are spending and help increase their knowledge of money management.

Coming Soon to a Neighborhood Near You

According to MSN Money, there are two main categories to think about when planning to open a new business. The startup costs and the regular recurring expenses of running your business.

As an example, you may initially pay a one-time deposit for public utilities and after that you would have a monthly electric bill. This would give you utility costs in both categories. By using a startup business calculator, you can estimate your total start-up costs and also determine how much money you will need to have in place as a reserve before you open the doors for business.

Mary Hiers is a personal finance writer who helps people earn more and spend less.


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