Free Home Budgeting Software

Many people struggle to track their personal expenses and stick to a budget. Tracking your finances in the midst of your overly busy schedule can be a real challenge. Having the right tools to help you track your finances can make it easier to manage your money quickly and efficiently. Financial budgeting software allows you to keep track of your income, expenses, savings, and investments.

There are many products out there for personal financial budgeting software. You can spend a good deal of money on sophisticated products. For most people, however, free home budgeting software is sufficient to help you do what you need to do. Here are some top picks for free financial budgeting software to help you easily track your finances.

Mint.com

Unlike some budgeting software which must be downloaded on your computer, Mint.com is an online tool which is accessible from any computer. This gives you a lot of flexibility in when and where you can enter and track expenses and income. Mint can import data from most online bank accounts, eliminating the need to manually enter a lot of your financial data. In addition, Mint.com has a mobile phone application which allows you to access your information from your smart phone.

Home Budget 4.02

Home Budget 4.02 is a product that will help you reign in your spending habits and track your finances. Financial advisors have often advised people with out-of-control spending to use the “envelope” system, in which they put a set amount of money in envelopes for different purposes (gas, groceries, entertainment, etc) and then stop spending when the money in the envelopes runs out. Home Budget 4.02 is essentially an electronic version of this system. Users can set up accounts, or virtual envelopes, and allocate income into these envelopes. Home Budget 4.02 can import data from Quicken and online bank statements. However, this program is not designed to perform the functions of a full-service accounting system, so if you need to track assets and liabilities, it will fall short of this.

Budget Tracker

This software is focused on helping you become debt free through careful management of your income and expenses. Budget Tracker allows you to manage your expenses by setting up your own budget categories to create a customized budget. Budget Tracker also shows you your average monthly expenses in each category, making it clear where your money is going. Detailed tracking of your budget over time will help you successfully manage your expenses.

Image Credit: pfala, Flickr

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