Always up-to-date transaction data
Why fuss with manually downloading and cleaning your transaction data? Pocketbook does it safely and automatically... and keeps it up to date.
Automatically categorise your transactions
Why bother with Excel formulas? You'll find 80% of transactions already smartly categorised. McDonald's is "food", the pub is "drinks".
Perfect charts for analysing your spending
Why waste time thinking about different ways to visualise your data? Our analyse feature have figured it out for you.
Recommended by financial professionals
Financial planners and accountants recommend Pocketbook to their clients. We make everyone's life easier.
Budget using Pocketbook like Rebecca
"Since using Pocketbook, I feel more in control of my money."
"I love that it reminds me if something is unusual, like a forgotten bill payment."
Rebecca, Web Designer & Founder GorgeousiPadCases.com
Budget Planner Software
Budgeting is a critical component of any sound financial management strategy. A budget keeps you focused, and lets you know what you need to do to live within your means.
A budget should help you keep track of:
- Your incomes earned or any other money that comes in.
- Your regular spending on the necessities (such as rent, bills, food).
- Your one off purchases such as TVs, holidays and cars.
- Your savings which you try to build over time.
Your budget should help you work out exactly where you want to allocate you income to these various types of spending. Whether you want to cut down and save for the future or splash out and buy nice and shiny things today. Your budget helps you structure your spending life to make sure you can live within your means.
Tips for achieving your budget
There are number of ways to make sure your budget is successful. Being more accurate with your plans and ongoing tracking is key:
- Start with your historical spending and incomes - One of the failures in building a budget is not using an accurate set of historical data on spending and incomes. The best place to start is consolidating all your banking statements for at least 3 months. You can go as far back as 3 years to get an even more accurate picture. By categorising your spending to various meaningful categories like ?car? or ?home? or ?groceries?, you?ll better understand how you?ve habitually spent. Being true to yourself about your starting point.
- Factor in your savings goals and large purchases - Another thing people fail to consider successfully is the future. The things you want to achieve in your life, for example time off work or buying a house. As well considering those large purchases coming down the line, such as partner?s birthday or television upgrade. Creating some savings goals to put money aside for is critical to make sure a budget works for you today as well as tomorrow.
- Track your spending regularly and accurately - Tracking how you?re actually going with your budget is also very important. A budget doesn?t work when it?s set and then forgotten. Looking at spending history simply makes the assumptions you make about future spending more accurate. But it?s the accurate and regular tracking, which validates these assumptions, and indeed makes sure you achieve your budget. So track your bank transactions or find a piece of software or tool to help.
- Refocus when you break your budget - Many budgets lose momentum because their owners break the rules. By following the above steps, you make sure your budget is as accurate as possible, but that doesn?t guarantee that you?ll unlikely break it. Chances are, you?ll creep in on one of your rules every month. The key thing to remember is that breaking rules is okay, as long as you adjust, either by being more realistic about your spending, increasing your income, adjusting your future savings expectations or cutting back later to make up for it.
Types of budget planner software
There have been a few generations of computer software for managing your money and budget planning.
- Accounting and Bookkeeping Software - Primarily developed for the business market, accounting software range in various shapes and sizes. From simple book of ledgers to fully functional packages with modules for payroll, tax and invoicing. These typically require the user to understand the principles of double entry accounting and is gear towards generating a set of regulatory compliant set of financial statements at the end of the financial year.
- Desktop Personal Finance Software - Desktop financial software for the personal computer user has been around since the 80s. Microsoft Money and iBank for Mac are two prominent examples. Users are often required to upload their banking statements, allowing the software to then being a process of cataloging transactions and analysing data. The process of setting up and maintaining the data to be current can some time take up to hours for some users with complex financial situations.
- Android and iPhone apps - Since the advent of the iPhone AppStore, a number of these applications have appeared. Using the idea that the smartphone has become more and more of a personal assistance tool. These apps translate the desktop software experience for the new more mobile user. The advantage of these apps is that because they?re with the users all the time, they allow a continuous opportunity for the user to enter in information and track their spending.
Why is Pocketbook different and better
We created Pocketbook as a tool to help make budget planning ridiculously simple. We help by fasttracking the process of understanding your spending history and allowing you to continuously keep track of your spending with no work at all.
At sign-on, we take 60 seconds for you to sync your banking information, detect your regular bill payments, forecast them and categorise up to 80% of transactions. A process, which typically takes hours, now takes literally minutes.
We repeat this process daily so your information in Pocketbook is always up to date. You can understand how you?re going against your budget at all times! Our mobile app is also really handy for you to enter in your cash spending, geo-locate it and take a snapshot of your receipt. Completing your picture of where you?re putting your money.
Another feature to keep you on track is our Safely Spend feature. Which automatically peels away your regular bill spending and suggests a discretionary spend which helps you focus on a weekly goal to spend to. We send you alerts to inform you as your Safely Spend limit decreases over the week.
Quite simply, if you want to get your budget started correctly, and keep on track with it, then Pocketbook is the personal finance tool you must have.
Tell me more about Pocketbook