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SoftwareMedia Blog | July 24, 2014

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How Software Can Help You Get Out Of Debt, Save More Money, and Start Making Small Investments

How Software Can Help You Get Out Of Debt, Save More Money, and Start Making Small Investments

With an average credit card debt of $15,422, getting out of debt tops many people’s resolution lists, and for good reason. Debt can have a dramatic impact on our entire lives, affecting our closest relationships, our self-confidence and of course, our financial goals.

Many people realize that getting their finances under control, getting out of debt and having some money saved up for a rainy day is essential to having peace of mind and happiness in life. But getting started can be a daunting and humbling task. It’s hard to face the facts, especially if you have a lot of credit card debt and bad spending habits.

Thankfully there are several great pieces of software that can help you dig yourself out of the hole and get started on a path to financial independence!

Quicken

Quicken Home & Business 2012 allows you to manage your personal and home-based business accounts together in one place, including banking, credit card, loan, 401(k), and investing accounts: Quicken downloads your income and expenses from your bank(s), brokerages, and financial institutions, so you don’t have to enter transactions manually. See at a glance how your business is performing, with reports including profit/loss, cash flow, and more.

There are a few specific features I’d like to highlight.

  • Redesigned debt-cutting tools – Create a customized plan to reduce debt. Easy-to-use interactive tools make it easy for you to stick to your plan.
  • Better Budgeting – It’s easier to set goals, save more, and stay in control of your finances with the fully redesigned budget tool.

Mint

Mint.com also pulls all your financial accounts into one place. Set a budget, track your goals and do more with your money, for free! Stay on top of your finances. See what’s happening with all your accounts – checking, savings, investments, retirement – at any moment of the day. And their free mobile apps mean you can track your money on-the-go.

Mint has more than 10 million users who know their information is always secure. That’s because they use 128-bit SSL encryption – the same security that banks use – and all data is protected and validated by VeriSign and TRUSTe. Plus, since Mint is read-only, no money can be moved in or out of any account.

 

YNAB (You Need A Budget)

Did you know that after one month, the median net worth increase for a YNABer is $200? After one month! After nine months, the median net worth increase is $3,300! Yes, the sky truly is the limit.

Most budget software asks you to guess a number on the 1st, inevitably leaving you to feel guilty on the 31st because you guessed wrong. YNAB is a new kind of budget, a flexible ‘living budget’ that helps you deal with overspending and makes it easy to save for your goals.

There’s no more guessing when it comes to spending decisions. Since your budget is always up to date, whether on your spouse’s iPhone, your Android, at home on your Mac, or at work on your PC, you’ll know in a moment that it’s okay to head out to eat. Enjoying yourself is part of the plan.

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You’ll have a hard time going wrong with any of these three personal finance software solutions. The trick is in choosing which one will fit your lifestyle the best. We wish you a long and prosperous life! May your wealth ever increase!

 

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