Budgeting Software Reviews: Effective Personal Budgeting Software Programs

Jan 27, 09 Budgeting Software Reviews: Effective Personal Budgeting Software Programs
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Budgeting: A very powerful and extremely important and responsible practice that is overlooked by many. If you’ve never considered it, or don’t think it’s important, don’t expect to have a bright financial future…period.

Being that this practice is a vital foundation of a great business model, I ranked these personal budgeting software programs by using my favorite method of reasoning: logical.

One of my many dreams in life is for one day to witness a society that makes a majority of logical decisions.  Unfortunately, most far-fetched dreams don’t come true, but if this were to happen, we will reach our dreams and goals easier and more expediently simply by making a series of intelligently planned, logical steps to reach our desired outcome.

The first logical “step” to take to secure a bright financial future is budgeting. I’ll review 3 budgeting tools and I strongly suggest choosing one before reading any other posts on this site.

  1. My favorite personal budgeting software program, based on it’s logical ease of use, is You Need A Budget Pro.  This is an extremely powerful software in it’s ability to project your smallest financial spending habit’s effect on your overall budget.  It’s extremely user friendly and it also forces you to put your finances into a shockingly logical perspective, in addition to easily making it possible to use your previous month’s income to handle the current month’s bills.  If you’re one that constantly lives paycheck to paycheck, YNAB propels you to retire this outmoded and ineffective method of budgeting.  If you’ve had problems budgeting in the past, YNAB does a great job of putting problematic budgeters back in line.
  2. Another very nice budgeting software is Rudder.  The tool is surprisingly easy to use as well.  It’s really convenient in it’s ability to automatically streamline your personal accounts with your email inbox.  When logging into the program directly, you have access to a unique line of customizable widgets that assist in your budgeting plan.  One issue with Rudder that some users may have is the sense of security or lack thereof with the program’s method of handling personal finances directly online.  Rudder definitely ensures your online security, so it’s up to your discretion to use the program as your main source of personal budgeting.  A similarly useful and effective product is MySpendingPlan.com which is sponsored by The Wall Street Journal.
  3. A very sleek logically designed Gen Y fave is Virtual Wallet. It’s a fairly new addition to PNC Bank’s online financing.  It advertises more online security than Rudder in its method of having to apply securely online for an account (minimum $25.00).  Virtual Wallet breaks your account down into three other accounts: Spend Account (virtually your checking account), Reserve Account (for small savings and emergency funds), and a Growth Account (for potential investments and large savings).  There are some fees that come with the different account types by PNC.

With trying out a few of these personal budgeting software programs, I’m sure you’re destined to find one that fits your personal needs.  These are all very useful programs and with a little help from your sense of logic, combined with the logical and user friendly approach the designers have taken to come up with these programs, you should be equipped enough to start and maintain a personal budget to reach your financial goals more expediently.

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  1. I recommend 3D Budget (www.3dbudget.com). This software has unique capability to tell you what expenses have been missed.

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