Budgeting Tools and Financial Management Software



Although personal finances are more straightforward then business accounting, keeping your money in order can still be challenging. Budgets, credit accounts and long-term financial planning are only a few of the concerns personal money managers face, as well as tracking cash flow and accounting for unexpected expenses. And since most household financiers don’t have formal training with fiscal matters, staying on top of myriad financial issues is more than some people can handle.

Fortunately, money management software and apps are available to help ease the learning curve and keep household finances on track. The best product for your particular needs depends upon a number of factors, including your goals, experience level, and platform preferences. The following examples furnish a sampling of what is currently available, but don’t represent the entire suite of Web-based resource, apps and personal money management software.

BudgetSimple

This free financial tool is focused on helping users budget and manage household cash flow. To be as effective as possible, budgets must reflect your individual needs and custom-tailor solutions to your goals and personal financial requirements. BudgetSimple helps you craft realistic, sustainable budgets, by analysing several features of your personal financial life. In addition to short-term budgeting assistance, the Webapp aids long-term planning efforts, as well. Once your spending habits and income are accounted for, BudgetSimple devises suggestions by which to gain greater control over your personal finances. Savings opportunities, for example, extend from data collected by the app, as well as strategies for reducing overall household spending – without lifestyle sacrifices. The simple program removes the intimidation factor from household budgeting and lays the groundwork for long-term success. The Webapp is free, but it can be upgraded to a paid mobile application by purchasing a premium account.

MoneyDance

This finance app includes a helpful suite of online banking tools, which can be synched with a variety of accounts. It is compatible with wide-ranging financial institutions, enabling users to enter bank transactions to monitor them through the app. The interface resembles a checkbook register, with easy to use, intuitive features. Payment schedules can be entered as well, giving you another tool to track your money. The program also furnishes reminders about upcoming obligations, so you don’t miss recurring payments. And for long-term financial planning, the app’s investment module helps users stay informed about how their investments are performing. The introductory app is free, but after a certain number of transactions have been entered, users must pay a fee to obtain a fully licensed version of the OS X, Windows and Linux compatible product.

FlexScore

FlexScore helps household money managers stay on firm financial footing by creating a snapshot of each user’s financial health. By visiting the site and determining your score, you have a basis by which to use the financial suite’s remaining features. The 15 minute process sheds light on how well you are managing your money and exposes weaknesses in your personal finance strategies. Once your score is recorded, the tool highlights suggestions for more effective money management, with the goal of perfecting your approach.

OnTrees

This popular app, available from the Apple store, enables users to link multiple financial accounts, for simpler personal accounting. It helps users make the most of their money, by highlighting spending trends within individual financial categories. Its budgeting tool furnishes email alerts, notifying users as they approach budget limits. Like conventional paper budgets, initial set-up requires you to enter financial data, which provides the basis for your budget. The tool does not accommodate moving money between accounts, but the site does include ancillary financial information, which helps users make informed decisions. OnTrees can be viewed using iPhones, increasing its appeal.
When personal financial management poses difficulties, budgeting tools and financial software are indispensable aids for keeping household cash flow on track. Use these and other resources to divert financial distress and simplify you money management approach.

Paul graduated in 2001 with a degree in Finance. Since then he has gone on to work for several of the UK's most well-known financial institutions.

An avid blogger and a huge football fan, Paul is here to guide you through the ins and outs of personal finance and perhaps save you some money in the process!

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