Kualto is an online money management application that takes a different approach to managing your bills and other expenses. Rather than simply helping you allocate money for your bills based on your total income, Kualto let’s you look into the future to see what your account balance will be each week based on your entered income and expenses. This is called cash flow forecasting. Businesses do this, yet for some reason, most personal finance software do not provide this very important feature.
How it Works
- You enter the starting balance of your bank account.
- You enter your income, expenses and how often they occur (e.g., bi-weekly).
- You can also enter random one-time expenses that you anticipate; bills that don’t necessarily repeat.
- Kualto’s budget view will show you each week’s starting balance, all the expected expenses and income for the week, and the week’s ending balance.
- You can navigate to any future week to see what your expected account balance will be, and what bills will be due.
- As you navigate to the future, you’ll see whether or not you will be able to afford to pay for everything that you have entered. You can make decisions about spending based on how your account balance is looking.
- Every Sunday you receive a bill reminder email that tells you what is due that week. We encourage you to schedule payments for all your bills on Sundays so you don’t have to think about them for the rest of the week.
The Kualto budgeting method of balance forecasting is more realistic, and really puts your spending into perspective because in the end, what really matters is your account balance. Rather than try to stick to some monthly budget, you can just see how spending something today will affect your account balance in the future. Add an expense, and if you don’t see any red in the future, you are all set! It really couldn’t be easier.
Kualto grew out of a forecasting budget worksheet that my wife created and was using for years. I had my own budget worksheet that I had created, where I would simply allocate for half the amount of each bill every time I got paid. I used this technique for a while until my wife finally convinced me to switch to her worksheet. It made a huge difference! So much so, that I decided to create this website so others could benefit from this method.
Budgeting isn’t fun, and a lot of people have trouble sticking to it. But I don’t consider the Kualto method, budgeting. I call it budgetcasting.
