Financial software is a great way to track your expenses and make sure your income is enough to cover them. Financial software will generally help you track all incoming money, expenses, and investments. Many programs will also connect to your online bank accounts and investment accounts, download information, and automatically update your financial software to reduce the time spent entering transactions and make it even easier to keep track of your financial situation.
Whichever software you choose to help you monitor and track your expenses, the important thing is to stick with it! Make it part of your regular routine for the best results.
Below is a list of some of the best financial software you can use to track your expenses and monitor your financial situation and why we like each one:
One of the most comprehensive and easy to use financial software programs, Mint.com is also free. You can use it on any computer, since it’s entirely online, and it will integrate with most banks and investment accounts to help you track expenses, income, and transactions. Take five minutes to set up your Mint account and connect with your existing bank and investment accounts, and then watch as Mint creates detailed budgeting plans and charts to help you track expenses and get your finances on the right path. There is a mobile phone app which allows you to access your account on the go, too.
This financial software is based on the old envelope system of budgeting. The envelope system has people create an envelope for each of their spending categories, like groceries, electric, entertainment, credit cards, etc. You put the money for each category in the envelope, and when it’s gone, you’re done spending in that category for the month (or week, however you set it up). Mvelopes.com is an online financial software that lets you start a budget and track your expenses from any computer with internet access. It’s great for investing and offers advanced reporting features that let you know at a glance exactly how much money you have left to spend at any time.
Quicken is financial software available for purchase either on CD or via download for about $60. The software helps you see how you’re spending your money and discover areas in your spending that you could save more money. All of your bank accounts and investment accounts are brought together within the software so you can create budgeting and savings goals. Answer a few questions about your goals and Quicken can help customize savings plans to reach them. Quicken will send you alerts for upcoming payments to help you avoid late fees. If you use Turbotax at tax time, Quicken is a great choice for financial software because Turbotax can import your information directly from Quicken and save you time filing your tax return.
This financial software for tracking expenses and monitoring your financial situation is very similar to Mint, except that it offers a way for people who are a little concerned about sharing their sensitive account details a way to use the software without sharing. Buxfer makes use of Google Gears to store the account login information and credentials on your OWN computer. Buxfer can then synch the data from Google Gears, but never actually has access to your personal information. A unique feature of Buxfer not found on the other financial software programs is the ability to report group expenses and track payments owed to friends or owed to you from friends. This is ideal if you split rent, groceries or travel expenses, for example.