Computer Software Reviews

When it comes to money management software, there are several of the very well known programs that have been around for a while. However, a relatively newcomer on the scene is a company called You Need A Budget,(YNAB) and is named quite appropriately. As a matter of fact, the founder of the company, a Utah CPA, has worked with budgets all of his working career, and has modified his program quite a bit. Other budgeting programs have you basically estimate income and expenses and go from there. This unique budgeting software uses the previous month’s income actually earned, and this is used to cover the expenses of the current month. In other words, you live on what you make! The goal is to stop you from having to live from paycheck to paycheck, and to put every single dollar to work. It helps you to plan for future expenses and purchases, including planning for that rainy day that always comes. We’ll cover more on this in future posts.

But, why is creating a budget important?

If you’re operating a business, whether large or small, you need a budget to know where you stand and to see if you are reaching your goals. Additionally, if you have bank financing for your business, you can be certain that the bank will be reviewing all of your financial statements, including your budget forecasts. A good budget will guide you and at a glance, you can see what may have to be changed to correct a problem. For a business, a good money management software program is critical, in that it will simplify the entire process without too much extra work.

What about for families or individuals?

Running your household like a business might not sound like too much fun, but there is much to be learned. I highly recommend that every family prepare a realistic budget and do all that they can to live within it. A money management software program like You Need A Budget, will help you to prepare a budget, and allows you to import much of your financial data, so the time required is not that much. The hardest part is admitting that you do need a budget, and then sitting down and preparing it. It does become much easier as you go along, and when you see your debt being reduced or eliminated, you will feel great. You can plan for that new car, home, or college for your children. What this money management software teaches you is that life will sometimes knock you down, but you have to roll with the punches and move on. I love its practical approach and agree with it. The above link will give you a peek at the program and also allow you to have a free 7 day trial.

The program has a quick start guide and instructions, plus they also hold a weekly “online coaching” webinar that is completely FREE. All that you need to do is to login and get the benefits there that you want or need. Try to find this feature with any of the other budget software firms!

YNAB emphasizes that you get back to the basics..create a budget that is realistic, and when it is working properly, your bills will be paid when they are due. You will also see a reduction in debt, especially those credit card balances that never seem go down.

Whenever you set a goal, it is important to be able to keep track of how you are doing. It helps to keep you motivated. When you see that your savings goal is within reach, you become motivated to save even more.

One thing that money management software can help you do is find waste and eliminate it, plus it will help to control spending on the wrong things. Most financial advisers will suggest that you keep track of every penny that you spend, and without a good software program, this can be a nightmare.

YNAB not only will automatically sort your expenditures into the proper categories, but will let you see whether each category is over or under the budgeted amount.

There are so many positive features that it is impossible to cover them in one review. Needless to say, we highly recommend this great money management software program, and are confident that it can help you. Check it out for yourself by taking the free 7 day trial. If you decide to purchase, you’ll be surprised by the low cost.