My Favorite Tool for Saving Money and Paying Off Debt

I’m easily frustrated. Especially when it comes to money. I mean, look around – it seems like everyone else has their act together and I’m over here desperately trying to claw my way out from under my debt.

And I’ve tried several systems to do that. Right now I’m using the Dave Ramsey Snowball method (you can read about that on Dave’s site hereand that is working very well. But the part I get hung up on is tracking my spending.

I don’t know about you, but it’s pretty easy for my spending to get out of control especially when it comes to going out to eat (it’s just so much easier than cooking) and entertainment (sure I’d love to see another movie at the theater and go to that concert with you and book a great vacation and…).

But you know as well as I do that buying whatever you want whenever you want just gets you into trouble. I’m pretty sure that’s how I got myself into this debt in the first place. Which leads us to the harsh reality that, yes, we must keep track of our spending.

So the question is: what is the easiest, most convenient way to track our spending? (Oh, and it has to be free, too, because I need that money to get out of debt.)

Andrew and I used to be hard-core Quicken users. It’s easy and convenient and syncs right to our bank account. But it comes with a pretty high price tag. Then we tried Dave Ramsey’s Every Dollar program and that worked pretty well – but when it came time to renew, I wanted to spend that $99 on debt and not on his program.

Which is why we now use Personal Capital.

It’s 100% free to use. It’s a breeze to sign up for. And it syncs with our bank account to automatically import and categorize transactions.

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My Favorite Tool for Saving Money and Paying Off Debt


Here why I use Personal Capital and why I totally recommend it to you, too:

It really works

Even a free program won’t do you any good if it doesn’t work. But Personal Capital makes tracking a breeze by automatically importing and categorizing my transactions straight from my bank.

best free budgeting toolThe spending analyzer breaks down spending by category and quickly tells you – at a glance – how much you’ve spent on groceries, healthcare, restaurants, and clothing. It pretty much takes care of itself.

It’s Convenient

On top of syncing seamlessly with my bank account, it’s easy to use. I can log online or download the free app for my smartphone and access my reports and graphs easily.

A quick glance tells me what I’ve spent and where, and if I can stop for take-out on the way home or if I’ve already spent enough out of my restaurant budget and should just go home and make dinner.

It’s Free

Most budgeting software options are expensive. And the free ones I’ve used before lack the necessary tools to make them useful. Using Personal Capital has simplified the overwhelming task of keeping tabs on my money. Seriously, people. If you haven’t signed up for it yet, you have to check it out.

And it has tons of advanced features and advisor tools – like the retirement planner and investment portfolio checkup. And it’s all free!

best free budgeting tool

So, clearly, I’m a big fan of Personal Capital lol. If you have a minute – because that’s all the time it takes – sign up for your free account now.

And tell me about it! I’d love to hear about your experience in using it – good or bad – and if you have any other money management programs you recommend. Share in the comments below!


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Amy Beardsley

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Amy Beardsley, the driving force behind Marvelous Mrs, loves personal finance and productivity hacks, Netflix, and everything chocolate. You can check out her favorite money-tracking tool Personal Capital and visit her freelance writing business, too. Thanks for reading the blog!