Software for Financial Management

Keeping track of where your money goes so you can set spending and savings goals is important, but as a priority it often ranks below shampooing the dog.

Leo Porter, a Stow, Ohio resident used to keep track of his finances with pen and paper, a chore made even harder with three rental properties he owns and the income and expenses he must track for each. His son-in-law introduced him to one of the financial software packages that track income and expenses, as well as perform numerous other financial tasks.

The beauty of money management computer programs is that they can generate budget and cash-flow reports every which way: by category, cash flow against budget, category subtotals in columns or graphs to name a few.

Add balancing your checkbook, monitoring investments, build a mutual fund portfolio or shop for a mortgage and a financial software program might be right for you.

Source: Knestout, B. (1998 January). Odious task #8 - budgeting. Forecast 98,  92.