A man earns money to satisfy his needs. He can purchase products and services by paying appropriately. But sometimes it can happen that he spends too much on unnecessary products. Unnecessary here means things that may not be required at all at the time. These things can be put off for later purchase or not bought at all. And we also know that resources are limited and that a "priority" is needed. Commonly, it is called as managing expenses or managing money. And in a more technical term, it is known as "Money Management". "Money management" is about control. How much will you spend? How much will you save? Where to invest? Which investment can give the best result? There are entrances and exits, and then we have something called Equilibrium. And this is particularly difficult to manage. Warren Buffet certainly has great advice on this part.
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Technologies have undoubtedly made life easy. And there are software on the market that help you manage your expenses. Yes, you read that right. These "money management" software help you organize your cash flow in a better way. Software that helps you plan your finances and that has a systematic approach. Some software can analyze your spending pattern and give you input by drawing graphs. While some software allows you to set alerts and reminders on bills and bills to pay. Powerful software is available on the market that allows you to predict future trends based on current patterns. One should choose the softwares carefully according to his needs, as the complexity of the softwares can vary.
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Now, let's delve into this topic by specifically discussing the money management software available for Windows.
Mint is one of the best personal money management apps out there. it currently has more than 10 million users on its platform. With Mint you can create budgets and see all your bills and money together so you can easily calculate your due bills and invoice amount, as well as the finances left in your bank account. Users also receive alerts for unusual account charges that are deviated from normal to easily detect financial fraud and get tips for saving money. You can also get your free credit score with mint.
Now, Quicken is serious software for people who would like to go further in using money management software. This software is basically designed to handle greater complexity. Not only does it keep track of transactions, but it also helps keep borrowed loans, retirement plans, and other complicated budget options in check. There is room for many customizations with Quicken Deluxe. Quicken Deluxe 2015 has more advanced budget options than its previous versions. Quicken also has a mobile version available for mobile users. Quicken is also available with 3 different versions, each version is developed to focus on its special features. For example, the Quicken Basic version focuses more on budget work and expense classification. Quicken Basics is priced around $ 30. The Quicken Deluxe version focuses on managing financial accounts and reducing debt and cost cutting. Quicken Deluxe is priced around $ 65. While Quicken Premier is the most advanced version of all versions. Quicken Premier focuses mainly on the “investment” part, on how to maximize them. Quicken Advanced is priced around $ 95.
The loan feature in Quicken can give you an idea of the relationship between interest rates, EMI, and principal amount.
Download link: - http://www.quicken.com
Moneydance is a software that allows you to record your transaction based on categories. Initially, you need to create an account with Moneydance. Post this, you can always choose to rank your expenses and income. Once you are done, Moneydance quickly analyzes your model and does all the classification by itself. This software also helps in budgeting. Budgets can be created entirely from the start or past data can be used to create a fresh new budget. Another common feature is the ability to set reminders on the calendar. You can also manage investments and monitor exchange rates on Moneydance. It is important to check if all financial institutions are listed so that the transactions can be downloaded. Some institutions charge you a commission to do this. The software has good features and can be further improved by making it more user-friendly and making it more compatible in terms of appearance and software support.
GNUcash is open source software which is not at all difficult to manage. From an appearance point of view it looks quite simple. The installation procedure for GNUcash is quite simple. GNUcash, however, does not support automatic download accounts. It also doesn't have all financial institutions listed. This software is basic and has some flaws; one of them is to restart all over again after changes have been made. The strength of the GNUcash software lies in its ability to generate reports and in the presentation of all its accounts. GNUcash seems like a free Quicken option for people who want a mediocre level of complexity in money management software.
You need a budget
“You Need a Budget” is an amazing software to prepare your budget and control all your expenses. It classifies everything and makes every dollar posted. “You Need a Budget” has excellent cloud sync functionality. “You need a budget” works efficiently on Mac computers. Data is shared across all platforms using cloud synchronization. Mobile access is also possible to view the account and also receive reminders.
“You need a budget” actually allows you to switch between budgets. It is one of the most efficient money management software available for the budget. The software makes a clear distinction in the budget when it comes to classifying unused money at the end of the month. The same amount is then carried over to the next month and consumed in the new budget. The declarations are obtained precisely at the end of each month. Another cool feature offered by “You need a budget” is that it allows users to categorize into payees, accounts, etc. The user can also use the timeline to classify the data. It has a solid support team to help you learn the tool. You Need a Budget has a 30 day trial package available. The size is approximately 30-35 MB. The regular version of the software is available for $ 60.
You can purchase the software from the following link: - https://purchase.youneedabudget.com/
Microsoft Money Plus Sunset
Microsoft Money Plus Sunset is a new version of Microsoft Money. It is essentially replacing all of its previous versions by putting Microsoft Money Plus Sunset in the image. All previous versions have been officially closed. Money Essentials was another release that Microsoft discontinued in the past. But the current version of Microsoft Money Plus Sunset does not come with online support. It doesn't even have a function to add financial institutions. You also need to get permission to get bank statements. Microsoft Money Plus Sunset can open Money and Quicken files, but cannot import files from any other source as it has no online activation.
Download link from Microsoft website –https: //www.microsoft.com/en-in/download/details.aspx? Id = 20738
SplashMoney is a simple money management software designed specifically for recreational users. This software is specially designed to be easy to use. SplashMoney is not powerful and therefore features such as retirement plans are lost. The user can manage his simple transactions and also get reports and prepare a budget. SplashMoney has listed some famous financial institutions. It can support multiple currencies and provide repeat transactions. Time consumption is generally low due to attributes such as the “autofill” transaction. There are other transaction categorization features along with the ability to sync devices. The software can also be downloaded on the Android version. The price for the desktop version is around $ 19-20.
a) Download link: - http://www.splashdata.com/splashmoney/
MoneyManger EX is also money management software, but built with cross-functional capabilities. Now, this software especially helps to keep track of the smallest details of your expenses and also allows you to use it very smoothly. The software is compatible with 24 languages and has many features that can make it a great custom software. It provides features such as transactions, repeat transactions, budgets, reports and resources. The software has an additional functionality for "Attachments". This feature is important for users who want to archive various receipts, invoices and invoices. The software allows you to reconcile your bank statements on a daily basis. It allows the user to use multiple accounts at the same time and to track transactions. The software is open source. You can easily organize your money using MoneyManager EX. The software allows you to get reports in various formats such as graphs and pie charts with one click. MoneyManager EX also has a provision for reporting bugs on its online website. Reviews so far suggest that the online support team is very responsive. Then there is an Android version available for users to download.
You can download the software from the following link