Budgeting Software

One of my recent posts mentioned using software for managing your checkbook and tracking your spending.  Several readers have asked for further suggestions on programs that they can use.

I have been using software since the mid-1990s to manage my own finances.  First came Quicken.  After installing updates for several years, I noticed that the interface was becoming much less intuitive (pun intended).  About 5 or 6 years ago, I switched to Microsoft Money.  While it is much easier to use, the reporting feature is still kind of strange.  Since that is what users need to understand their spending, I started on a task to find something easier.  I have no financial interest nor do I receive any commission from the developers of any of these programs.  I only mention them after doing extensive research to find them.

Following are some web-based programs you can use for personal finance management.  With these programs, you install nothing.  All your data is encrypted and secured on a website.  Customization is typically not available.  Many of them are completely free.  I welcome comments from readers who have experience with them.

• Wesabe
• Yodlee
• Mint
• Rudder
• Moneytrackin’
• Buxfer.com – a personal favorite
• BudgetTracker
• Freshbooks
• WorkingPoint
• Geezeo
• Moneystrands
• Outright.com

The following is a list of programs that you actually install on your computer.  Some of them are Open Source and are actually free.  Some of them cost a little bit and some cost a little bit more.

• Microsoft Money – discontinued shortly
• Quicken
• Simply Checking
• GnuCash
• MoneyDance
• CheckBook
• Fortora

I hope this list can help some of you get started in your trek toward financial freedom.  Software can store years of spending data and give you insight into how well you have improved your finances since you have focused on this task.