Planning ahead? Try using a Financial Calendar

I’m sure that we’ve all be in similar situations — plotted out our budget for the next 6-12 months —  only to wonder why it isn’t working.  Well, in my case,  I realized early on that I had forgotten to account for seasonality — big ticket expenses such as yearly insurance premiums and quarterly tuition payments.    I adjusted our budget excel sheet accordingly so we can now heave a sigh of relief ala Joseph during the time of famine.   =)

For those who would like to do the same and take a calendar-based approach to organizing personal finances,  there is a fantastic website called PocketSmith which can help you get started.  If you want to repay your debt faster,  see your savings grow, and track your expenditures against forecasts,  then PocketSmith will do the job for you.   pocketsmithUsers simply input their scheduled salary payouts,  bill payments, etc and have each of these categories repeat weekly,  fortnightly or monthly which is made relatively painless through integration with Google Calendar, iCal (for Apple users) and Outlook.  PocketSmith then calculates all incoming and outgoing transactions to generate a six or twelve month forecast.

What I particularly like about this online tool is that you can pick any given date and receive a predicted bank balance for that day.   If you see yourself being “in the red” right after Christmas,  you can adjust your scheduled ‘financial events’ and immediately see the changes reflected in the projected cashflow.    There are even dynamic, animated graphs which will give you an illustrated breakdown of your coming year’s finances.  It certainly helped us in finding ways to help us achieve our financial goals.

The basic version of PocketSmith is free, and subscribers can sign up for more premium versions at USD 5 and USD 12 per month.

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One Response

  1. Thanks for this, sis. I’m not financial savvy, but I’m hoping to change that.

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