What is a good budgeting program for my household? Is Microsoft Money or Quicken for this. Our finances are in turmoil.
Personal Finance - 3 Answers
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1
The best program for budgeting is a good HONEST look at your situation. You need to sit down and determine where your money is going and then do something to change that. You need to list your income and for 1 months time you need to account for every single penny spent. You will be shocked. Then if you wish to set up a bookkeeping type system then Quickent is appropriate. You need to get second jobs and put every dime to the debt for 6 months to a year, cut out the cable bill, cellphone is NOT a necessity either, no eating lunch out pack it, no internet service, cut the thermostats down, buy foods that will bulk up but do not cost a lot and on and on.
2
The best budgeting program is a pen and piece of paper. For at least one month (preferably three to five) write down every penny you spend and on what. That will give you a baseline from which to start. Then you can start allocating what to spend where in the future. Now, Quicken and Money are not really budget programs, they are very very good at keeping track of what you spend, and keeping an eye on your net worth, but for establishing a budget, there are a lot better programs, specific to budgeting. This one comes highly recommended, and has the nice price. http://www.freebudgetkit.com/ Best of luck!
3
Check out www.wesabe.com. It's free.
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