Innovative Programs Helping You Save Money
Personal Budget Plan (Photo credit: Wikipedia)
The state of financial literacy in the United States is worrying. In a 2102 Consumer Financial Literacy Survey, more than 50% of respondents said they do not have a household budget. As a result, 39 percent are wallowing in credit card debt while an additional 33 percent do not make timely bill payments. The bad news is financial illiteracy affects the young as well as the old. The good news is you can use free or proprietary finance software to monitor your spending habits. Here are five computer programs that you can use to achieve this goal.
AceMoney
This versatile personal finance software is more than just a tool for creating a personal budget. To start with, AceMoney makes it easy for you to carry out online banking and reconcile different accounts. Use the snapshot view to see the total amount of money in all your accounts. To keep your personal finance details secure, the software offers password protection and scheduled backups. It also has a portfolio manager to help you make wise investment decisions. You can generate and view reports across a wide range of categories such as spending, investment history, and cash flow.
YNAB
With the You Need a Budget (YNAB) computer program, you can set financial goals and work towards achieving them. YNAB allows you to upload banking information and create categories such as payments and income. An easily accessible search bar makes it easy for you to type in the name of a merchant or creditor and get the information instantly. On the security front, the software encrypts personal data as well as providing backup options. In addition, you can set passwords to prevent unauthorized people from accessing your personal details. The detailed annual expenditure information makes it easy for you to prepare your tax returns.
Moneydance
With features such as stock price updates and debt payoff calculators, you can easily conquer your financial indiscipline demons. Moneydance tracks Goods Services Tax (GST) and Value Added Tax (VAT) making it easy for you to file tax returns. You can use the investment profit calculator, credit card payoff calculator, and many others to take charge of your monthly income and expenses. It works on all the major operating systems such as Windows, Linux, and Mac.
BankTree Personal
The BankTree finance software boasts of large icons making it easy to use. You can generate detailed reports such as investment gains and losses, account summary, budget report, monthly spending by payee, monthly cash flow, spending by payment type, and account transactions. You can export information to Excel or to external flash drives using formats such as CSV or QIF. Viewing stock market data is a breeze. All you have to do is enter the name of a stock and the software will upload daily data from sources such Google or Yahoo.
Quicken
Quicken is one of the most popular finance management programs. It allows you to view all your bank accounts, investment accounts, and 401(K) in one place. Using Quicken Picks, you can find the best online deals, discount offers, and coupons. Another useful feature is Quicken.com Investing Portfolio, which gives you a complete overview of all your investments. Depending on your appetite for risk, you can set targets and analyze performance. It also pairs with TurboTax making it easy for you to prepare tax returns.
All in all, you do not have to go to an MBA School in order to learn how to manage your finances. By using software for finance such as AceMoney, Quicken, YNAB, Moneydance, and BankTree Personal, you can rein in bad spending habits. Research carried by the Department of the Treasury found that people who budget their finances are more likely to invest in retirement programs than those who do not.
Author Bio
Joshua Turner is a writer who creates informative articles in relation to business. In this article, he offers a few financial tools and aims to encourage further study with an UAB management information systems master’s degree.
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Category: Budget, Family Finances
