A budgeting tool is a software application or online platform designed to help individuals and businesses manage their finances. It allows users to track income, expenses, and savings, making it easier to create and maintain a budget. Many budgeting tools offer features like expense categorization, financial goal setting, and reporting, which can provide insights into spending habits. These tools can be particularly useful for those looking to improve their financial literacy and achieve specific financial goals, such as saving for a vacation or paying off debt. Popular examples of budgeting tools include Mint, YNAB (You Need A Budget), and EveryDollar.