When it comes to money management, there are basically 3 different ways you can track your financial planning. You can use a software program, design an excel spreadsheet, or use a notebook and pen or pencil.
Notebook and Pen or Pencil
Using a notebook sounds basic and simple, especially if you easily get confused with software and confusing, but overall, it really isn’t easier. Once you get the hang of a software program or spreadsheet, there will less likely be mistakes and the whole process will be faster and more efficient. I wouldn’t use a notebook unless you are carrying around a tiny one to keep track of spending on the go.
Should you use Excel?
You can manage your money with excel. You can budget and you can keep track of your financial goals. The downside is that unless you find a premade worksheet that you like, you have to design one yourself. For some people, this is preferable because they can tailor it exactly how they want. If you are lik this, excel, is perfect.
What’s great about excel is that you can have a book and set up different sheets. Make a sheet for long term financial goals, short term financial goals, a budget, investments, etc. You can be as detailed or as simple as you want and design it all as you want.
When you should use Software?
Software makes things a lot easier. It’s all set up, you just customize it to your situation and add in your numbers. It might even give you great features you never thought of. Quicken and Microsoft Money are two of the most popular financial planning software available.
Quicken is also available online which is absolutely free. This is great if you are trying to save money because not only will it help you with a budget, but it’s free, so you don’t have to buy anything. It’s really worth giving it a try. If you don’t like it, stop using it.
Another great benefit of Quicken and Microsoft Money is that you can connect all your accounts such as bank accounts and investment accounts, all together. This makes it so simple having everything in one place. You can keep everything organized. Most of us have 2 or more accounts dealing with money, and this is a great benefit.
Making a one time investment into financial planning software can mean a simple money management program and keeping good track of your money. It’s worth the investment, and if you don’t want to spend money, you don’t have to with Quicken Online.
There are all different kinds of personal financial planning software available today. Software is a great way to help you organize and plan out your money and financial goals. Here are some of the top programs available today.
Quicken Financial Planning Software
Quicken is a common financial planning software that has been around for a while. It is popular because it is so efficient and easy to use. You can purchase the Quicken software directly from their site and choose between Deluxe, Premier, and Home and Business. They also offer Rental Property Manager for those who have rental property.
If you are looking to budget your money, the Deluxe version is the way to go. You can pay bills, save money, and optimize your investment portfolio all easily in one place. If you can see where your money is going, you will be less likely to throw it away.
The Premier version includes everything from the deluxe version but it gives you more powerful investment management tools. You can manage and research your investments and balance your portfolio. This program makes it very simple and easy.
The Home and Business version is exactly what it sounds. You can manage your personal and business finances all together. Do you have a small business? This would be perfect for you to keep all your money organized in one place.
Don’t want to spend money on financial planning software?
If you are interested in Quicken but just don’t have the cash to spare, you can choose their free version. Free Quicken Online is 100% free to sign up and use and you can manage your money completely online. I have used it and love how it tracks your money in your accounts and adds up what you’re spending. Budgeting couldn’t be easier with this program.
Microsoft Money
If you’re looking for another cheap alternative but don’t want something online, you should try out Microsoft Money. You can purchase it on Amazon for a very affordable price, check out their reviews, and see how it can help you manage your own money.
Choose between the standard version and the premium version, and you can still save a lot on the purchase price.
Money management is very important when it comes to financial planning. You need to have it down and organized if you want to reach your goals. With any of these tools you can make it a lot easier than if you were using pen and paper and you don’t have to design a spreadsheet. Make money management simple and simplify your life.