5 Budgeting Software Programs You’ll Love

5 Budgeting Software Programs You’ll Love July 17, 2013

Looking for some great budgeting software programs? Look no further. Whether you are wanting to manage your personal finances or business finances, there’s a budget program here for you. Consider each of these carefully before you make your selection however, as each have their strengths and weaknesses.

1. Mint

Mint is by far one of the most popular personal finances applications around. Because it is web-based, you can easily view your budget from any available computer. In addition, you can view your budget and financial accounts in the palm of your hand with their Mint smartphone app.

One major advantage of Mint is that it goes beyond budgeting basics and recommends products and services that improve your interest rates and keep your financial life in order. With Mint, you can even add your home and other assets and view their value over time. Pretty comprehensive, right?

2. YNAB (You Need a Budget)

YNAB is unique because it allows you to budget based on four simple rules:

  • Give every dollar a job.
  • Save for a rainy day.
  • Roll with the punches.
  • Live on last month’s income.
The YNAB software is truly built around these four rules, and allows you to use the zero-based budgeting method which encourages you to spend everything you earn (you can “spend” some money towards saving or investing too) before the month begins. YNAB is a downloadable program designed for both Windows and Mac computers.

3. MoneyWell

MoneyWell brings envelope budgeting into the 21st century. Using “buckets” instead of envelopes, MoneyWell can automatically import your financial transactions and allows you to assign buckets (budgeting categories) to each transaction. When a bucket tips over, it is empty, and you should no longer spend money related to that category!

MoneyWell’s prioritized spending plan allows you to budget your income before you even receive it. When it’s time to fill your buckets, it’s as simple as a click, and you have all of your earned income allocated for the next time period based on what’s most important. Whether you budget on a month by month basis, or a paycheck by paycheck basis, MoneyWell is flexible enough to handle your needs.

4. Wave Accounting

Own a business? Ever wanted one program to manage both your business and personal finances? Wave Accounting does just that. Wave Accounting is a web-based program that allows you to add every financial account you own and keeps track of money flowing between your personal accounts and your business accounts.

Pay yourself from your business accounts by transferring money electronically? No problem, Wave Accounting can handle that. The user interface is so simple to navigate, no manual is required. Give it a shot!

5. Mvelopes

Mvelopes is a web-based budgeting program similar to MoneyWell in that you use a “virtual” envelope system. The premier version of Mvelopes offers full-featured online bill pay – a nice way to stop having to write checks!

Another unique thing about Mvelopes is the ability to track your net worth. You can monitor your checking, savings, credit card, 401(k), IRA, mutual funds, stocks, and even your mortgage and auto loans – all automatically!

You can start using Mvelopes for free and decide later if you want to upgrade to the paid version.

Start Your Budget

Before you buy software, commit to a solid budgeting plan. Learn how to make a simple budget and stick with it! Software is useless unless you learn the basics of budgeting.

Once you’ve learned how to make your budget, you’re ready to buy and download your budgeting software. Take your time; the last thing you want is budgeting software that doesn’t fit your financial situation. Visit some of the websites linked to above and find a program that will benefit you the most. Now go save some money and start your budget!

Do you have a favorite budgeting program? Tell us about it in the comments!

Originally published on Faith and Finance on September 10th, 2012.

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