Pocketbook Review – Easy Budget Planner

Pocketbook Review For Budget Planning and Expense Monitoring

In a previous article, I talked about the importance of creating a budget and monitoring your expenditure over time.  Today I will show you a great way to make that easy…

Once you’ve created your budget, categories and amounts for each category, it’s time to begin monitoring your spending.  This can be a challenging step and one that results in people abandoning their budgeting.  Let me explain…

pocketbook review of budget planner to monitor spendingThe idea behind monitoring your expenditure is to make sure you don’t overspend in any particular category.  In theory, every time you buy anything, you should record it in it’s respective category.  At the end of the month, you can then see how much you spent in each category and compare it to what you forecast in your budget. The challenge is recording each spend.  It can be time consuming and required diligence.  Well, there’s an easy way and I want to explain how it works…

Pocketbook is a free application developed in Australia that works on any device.  It makes tracking and categorising your spending easy.  One of the reasons it’s easy is that it can connect to your bank accounts.

Here’s how it works…

1.  Register an account with Pocketbook.

2.  Link Pocketbook with your bank account.

3.  View transactions and assign each to a budget category.

4.  Monitor your spending with easy to read charts.

Note that if your bank uses a token, like mine (Suncorp Bank) then this won’t work.  You won’t be able to login.  I suggest you send Pocketbook a message asking them to add the facility to use a token.

Step 3 is very easy to do.  Many of your transactions will be automatically categorised.  For example, if a transaction has say “Caltex Fuel” in the description, it will automatically be assigned to “vehicle expenses” or whatever category you choose.

Some transactions won’t automatically be assigned a category.  You can do this easily by selecting the relevant category in a drop down list.  You can also customise your expense categories.

Mail features include:

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  • Connect to your bank account,
  • Automatically categorises spending into budget categories,
  • Notifications let you know when bills are due or when payments take place, and
  • Reports makes it easy to keep up to date with what’s happening.

Pocketbook is a great budget planner application that makes it so easy to keep track of your spending.  If you want to keep track of how much you’re spending by category with almost no effort at all, consider adding Pocketbook to your suite of financial management tools.  I have!

Pocketbook works on desktop computers, tablets and smart phones.

You can learn more about Pocketbook here>>>