Answer:
Taylor could use the following tools to track her expenses:
a. Quicken bill pay spreadsheet
b. Mint BudgetTracker
Step-by-step explanation:
Budgeting can be defined as the act of monitoring and controlling one's spending to prevent misuse. A budget helps people keep track to avoid cost overruns. Budgets are periodically evaluated for improvements to make sure that they are in line with the financial objectives set. There are three types of budget;
1. Budget surplus: this occurs when revenue exceeds the expenses. A budget surplus is usually a good sign since one always has a lot of disposable income that can be contributed to savings or investments.
2. Balanced budget: this occurs when the revenue equals the expenses. One who has a balanced budget cannot save or even invest unless they borrow.
3. Budget deficit: occurs when the expenses exceed the revenue. One should strive not to find himself/herself in this situation.
There are various software tools that can be used to track one's budget, they are;
a. Quicken bill pay spreadsheet : this is a software that allows you to pay your bills in a fast and convenient way. It can be used to track your spending since it can be personalized in a way that let's you pay for bills and services. In this way, one takes note of his/her bills and also the amount spent.
b. Mint BudgetTracker: this is also a software designed with various financial elements. It can be used to pay bills, thus financial tracking. It can also be used to track the performance of investments. This tool is important for financial budgeting.