Personal Budgeting Software
Keeping track of your finances
Keeping track of finances is just as important for individuals as it is for businesses. There is very little chance of you being able to plan your future effectively without a budget in place. For self-employed people, keeping a budget is imperative for tax purposes, so if you don't already have a system in place, begin today and keep to the plan that you create.
The Leading Brands
As with most industries, the leading names in the field are created by big brands and in the financial software world these big names are Microsoft Money and Quicken. Versions of their software have been around for many years and have become more and more detailed and powerful.
Now you can download your bank statements directly to the program, giving you the most control of your finances with relatively little effort. You will be able to view graphs and forecasts and create budgets for your spending based on your financial patterns that have taken place in the past as a result of transactions that have gone through your bank. Of course, any cash transactions should be entered separately in order to complete the picture. .Microsoft Money is an overall financial software tool, but you can use its budgeting features just as easily as you can with any other software and you have the advantage of only needing to work with one program. In addition you can pay bills online if you wish to by using the electronic checkbook.
Over recent years, Moneydance has also become popular with many domestic users. One of the advantages that Moneydance has over most other budgeting software packages is its versatility in terms of compatible operating systems. Moneydance can be used on all major operating systems, which makes it compatible for as many people as possible.
Many people are put off budgeting because the financial software is complicated to set up and use. This is entirely justified, as many programs are difficult to use at first until you get used to them. However, there are places where you can get software that is generally considered simpler to use. For most domestic situations, this kind of software is perfectly suitable and will not leave you with any nasty surprises. My Budget Planner is a good example of domestic based software. It is simple to set up and clear to use whilst being extremely affordable as well. This particular software is great for families with children because you can also purchase a children's version of the software, which will help you to teach your children about the importance of money and financial planning.
There are many other software packages out there as well. Personalbudgeting.com is a very useful site and they produce a simple but very functional program that looks after all your financial issues. Many banks are now providing free budgeting software that online customers can use, which not only makes things simple for you but keeps the cost down as well. Check out your bank for more information about this.