Although it can be a tedious and monotonous task to keep your finances in order, it is very important. Staying in control of your finances can help you save money, prepare for emergencies, avoid debts and achieve your goals. Additionally, you will be able to determine where your money is going and whether you’re spending more than you can afford.
Here are five software programs that can make managing your finances much easier.
Mint is one of the best personal finance software available. Its overall ease of use, colorful platform and premium features set it apart from its competition. Once you authorize the software to connect to your financial accounts (investments, retirement funds, credit cards etc.), it tracks them in real time. It shows you all the recent transactions you have done, your account totals, spending (organized by category) and monthly budget.
Additionally, mint alerts you whenever you go over budget. Another bonus; the software has a feature that allows you to track your cash budget.
You Need a Budget (YNAB)
YNAB is another fan favorite when it comes to money managing software programs. The software is ideal for those who have a lot of steady, recurring expenses. YNAB is also a perfect choice for those who want to know where their every dollar goes.
YNAB uses modern technology to help you formulate a budget the old-fashioned way. Once you authorize it to connect to your financial accounts, it pulls account balances as well other information in real time. Additionally, it provides financial literacy classes, tutorials and budgeting tricks among other things.
YNAB provides a free 34-day trial with subscriptions costing $5 per month.
Quicken is one of the most full-featured personal finance programs available today. The software is ideal for slightly more experienced audience.
Quicken starter edition ($40) imports and categorizes your credit card and bank transactions, helps you formulate a budget and alerts you to upcoming bills. Quicken deluxe edition ($75) lays emphasis on savings and debt reduction. Quicken premier edition ($105) on the other hand tracks your investment’s performance and helps you with the buying/selling decisions.
Moneydance is an easy to use and powerful personal finance software program. It helps you to organize your finances, track your portfolio, manage your budget and balance your checkbook. It is available for Linux, Mac and Windows. If you want access on the go, there are free iPhone and iPad apps.
AceMoney from MechCAD Software is an easy to use personal finance manager that makes organizing finances a breeze. The software allows you to track your spending, create and manage home budget and track the performance of your investments and more.
The software costs $40, but there is a free version, AceMoney Lite.
These are some of the software programs that can make organizing personal finances a breeze. They offer almost similar features, so choose one that best suits your personal needs. It is always a good idea to talk to a bankruptcy attorney if finances are struggling despite using these software programs.