Frugal Living Tip: What’s Your Financial Forecast?

Every businessperson should have some method of keeping track of spending to make sure that expenses don’t outstrip income, [b]ut a new web tool called PocketSmith highlighted over at Wise Bread goes beyond tracking past expenditures to actually predict future spending and savings with its forecasting capabilities.

So let’s say you’re hoping to save up for some a big business expansion or remodeling project. PocketSmith will look at your past spending patterns to give you an idea of how long it might take for you to save up the money you need for your big expense.

If you’re not happy with how long PocketSmith predicts it will take you to reach your financial goals, the program lets you see the [im]pact you’d get from tinkering with your current spending patterns.

Do you think a program like this might be helpful for your business? How have you gone about accumulating the cash for major capital expenses?

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