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Advantages to Managing Your Personal Finances with Computer Software

Updated on October 16, 2011

Simplifying Your Finances and Banking

Doing your banking and finances with software is more popular than ever. You can choose software like Quicken or Microsoft Money for example, but there are many others as well. You can find other beneficial programs like Mvelope Personal Budgeting System, Mint.com, Invest Plus and many free options as well, for which you can find online.

So why are people using these methods to manage their finances, other than the obvious reasons? If you have never looked into it before, you will be amazed at what is offered from programs like these.

Below, I share some of the advantages to managing your finances in these ways. I will show what some of the programs can do so that you can choose what is most important to you and then go on a search that way to see if the software you are using is the best for your personal needs.

Some of the amazing things software can do for your finances.

The basic idea is that you can take advantage of not having to write out checks, and keeping great records that can be coded and sorted to simplify almost all your record keeping. It gives accurate information on your budgeting and cash flow. Its pretty amazing how sophisticated the idea has become. For instance, many of these software programs offer things like:

*Managing accounts for you and your family. They can help to maintain various accounts and keep you up to date on all the details.

*Keeping track of valuable investments, your assets, and your loans

*Present presentations on your finances, even 3D presentations.

*Manage your inflow and outflow of cash

*Give you detailed reports and help to maintain various accounts

*Create and generate annual statements in seconds

*Help to manage your loans, and keep track of the details.

*Create detailed reports on your investments, like managing certificates and bonds, securities and mutual funds. They can help you manage your own portfolios and import your broker bills directly.

*Many have online support if you need it. Some have live chat options.

*Keep track of your insurance policies, and have places to store important pictures of your valuables that you have insured.

*You can watch the markets ups and downs on stock, as well as get updates on rates and even watch the live market. Some allow for you to get reports on your shares and stock investments.

*View and print entire summaries of your finances

*Keep track of other important things like deadlines, dates, and appointments

*Some can generate over 300 different reports and share them in excel and PDF formats which you can then print for your records, etc.

*It is a smart way to track all your finances, and one of the biggest concerns of mine and many others is the security of all your information. The very last thing you want is for people to get access and cause trouble for you. Many of these programs offer great security and can keep all your information safe. It would be pointless to have all the above options, if others could hack in and get it some other way. Therefore, have that be goal number one to go for security. After that, its a matter of choosing what is most important, and finding the software that meets your personal needs and desires.



Do you currently use a software program to keep track of your financial records, or do your banking online?

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    • oceansnsunsets profile image
      Author

      Paula 6 years ago from The Midwest, USA

      Thank you Purple Perl.:)

    • oceansnsunsets profile image
      Author

      Paula 6 years ago from The Midwest, USA

      Thank you!

    • PhoenixV profile image

      PhoenixV 7 years ago from USA

      Great idea!

    • oceansnsunsets profile image
      Author

      Paula 7 years ago from The Midwest, USA

      Hi Synn, thank you very much, and so glad to hear that!

    • Synn profile image

      Synn 7 years ago from Brunei

      great stuff you share here man...thanks for posting it up, something i need to learn using :)

    • oceansnsunsets profile image
      Author

      Paula 7 years ago from The Midwest, USA

      Thanks Howard for the visit and for your comment! I am one of those that is learning more about all the capsules, and I like to use RSS feeds on occasion. Thanks again for stopping by.

    • Purple Perl profile image

      Purple Perl 7 years ago from Bangalore,India

      Congrats!

    • Howard S. profile image

      Howard S. 7 years ago from Dallas, Texas, and Asia

      Well, ya finally got yer luck of the draw. Congrats! Now would you please tell me what keywords you used to get such an eclectic list in the link capsule below? You've really got me curious.

    • oceansnsunsets profile image
      Author

      Paula 7 years ago from The Midwest, USA

      Thank you very much Akirchner for your kind words! I appreciate the visit and your comment. :)

    • akirchner profile image

      Audrey Kirchner 7 years ago from Washington

      So well done - I actually think you should have won for the staff pick! Great info and easily readable.

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