Selecting the Best Money Management Tools for You

Money management tools are available in many forms. There are money management tools available in your local computer store. There are also programs available for a fee or for free on the INTERNET. Simple budget spreadsheets can be downloaded or a simple budget ledger book can be purchased from your local stationary or office supply store. The trick is to find a method that works best for you. For more information, you can visit

The Ledger

The most primitive of money management tools is the budget ledger. This is a simple book that can be purchased at a local office supply store. Monthly expenditures and income are written into the ledger to keep track of the budget. This form of money management is both time consuming and quite limited in its ability to provide financial information.

The Spreadsheet

Usually built from Excel, this money management tool is a bit more sophisticated than the simple ledger. Categorized expenses and income are entered into the spreadsheet. The spreadsheet does all the calculations for you. In addition because the expenses are easily categorized, it is easily determined where the majority of expenses lie.

Purchased and Online Budget Software

Budgeting software is one of the best money management tools available. Microsoft and Quicken have put forth some of the best budget software. It takes the user around an hour to set up all the financial information. One of the biggest advantages of this type of software if the ability to manipulate the budget quickly and easily to see how spending in different categories affects you. In addition many of these budgeting software systems have alarms that let you know when you have exceeded your budget in a particular category. You can also build graphs and charts to help you easily analyze where you can optimize your expenses.

There are several budget tools available from the old-fashioned to state of the art. The computer savvy might be more comfortable choosing an intricate and cutting edge budgeting system. However the most popular means of budgeting is software that is simple to use, can project future budgeting and alert the user when expenses are excessive.