Money Management and Household Budgeting Software
Most American households and many American business owners have a very difficult time managing their money. Although, there are a number of envelope budgeting software choices available, I have been most impressed with the envelope budgeting system from Finicity. The envelope budgeting concept is simple, essentially you have several envelopes each labeled for a different expense, i.e. groceries, gas bill, power bill, mortgage, vacation, etc. In days gone by, a family would actually put cash into each envelope and then when the money was gone from a given envelope the family was done spending until additional income was received or money was diverted from other envelopes. The Finicity software takes this concept to the next level by offering the following features:
- You can link to all of your financial accounts (checking, savings, credit cards, etc.) to have an accurate picture of your balances and overall standing.
- You can check your envelope balances via your mobile phone (for informed decisions on the fly)
- Online bill pay
- Online community of experienced users
- Fantastic money management blog
All of these features work together to help the user plan what he/she will do with his/her money before it is spent. The envelope budgeting software tends to lead to pretty radical changes with spending habits. An added benefit, is that because your “pre-spending” your income you tend to actually have money for infrequent expenses like auto repairs. So, for those of you who find you are consistently overspending take a look at the household budgeting software offered by www.finicity.com.
