What type of personal budget software do you use? Wait! Don’t tell me you are one of those people who think they are better off without software and computers. While there is nothing wrong with using a traditional accounting method (pencil and paper), once you introduce personal budget software into your life, you will realize that you are on a better path. There was a day when I thought that personal budget software was a waste of time and money. But once I gave it a try (I use Quicken) it was east to see that I was wrong. Here are my top five reasons for using personal budget software:
1. Organization. I am one of those people who needs to have everything in the right place at all times. This is particularly true when it comes to my money. The more organized I am the better I feel about the direction in which my finances are headed. With personal budget software, I find it simple to track everything from income to expenses to where my money is being spent.
2. Helps me save. Believe it or not, some people know they are spending money but have no idea where it is going. Does this sound familiar? Years ago, I was the same way. Money would be spent, and at the end of the month I had no clue where it all went. Then I started using personal budget software. Soon enough it was simple for me to see where my money was going, and of course, how I could cut back.
3. When it comes to your finances, mistakes can be a killer. Fortunately, those who use personal budget software find it simple to catch mistakes as they are being entered. Just this year alone I have been saved by my software program several times. On one instance, as I was reviewing past payments, I realized the wrong check was sent to my mortgage lender. Fortunately, I was able to send additional money within a matter of days to ensure that I was not hit with a late fee. Without personal budget software, I am confident that this mistake would have slipped through the cracks.
4. Motivation. Some people need motivation to budget their money and track their finances. Just like many, I get bored if there isn’t something exciting to keep me on track. It may be hard to believe, but I look forward to updating my budget. All the features offered by Quicken (as well as competitors) get me excited. In turn, I am motivated to do my best when it comes to managing my money.
5. Confidence. Are you worried that you don’t know what you are doing with your money? Do you have doubts about the accuracy of past records? Using personal budget software has given me an added level of confidence. I feel that each and every money-related decision that I make is the right one. You will be amazed at how much stress you can avoid when you are confident in the financial decisions that you are making.
Budgeting Software Options
If you are interested in taking advantage of budgeting software, the following three options are the best places to start. To help you out here, check out past review that we have done here at Money Crashers.
Quicken – Quicken Deluxe 2010 Review
Mint.com – Mint.com Review
You Need a Budget – YNAB Review
(photo credit: Quicken Online)