User-Friendly Budget Software
Many people really want to get their personal budgets under control but can't seem to find the time to get organized. Several software products are available that can help with a wide variety of money tasks, from writing checks and keeping track of them to finding a good mortgage online, plus financial planning and analysis. CBS This Morning's Money Editors Ken and Daria Dolan have details.
Two user-friendly software packages are Quicken 99 and Microsoft Money 99. If you are willing to spend a few minutes inputting some personal financial data, you'll be amazed at how much information will be instantly at your fingertips. And, you don't need a high-end computer to run these programs.
"What they do is allow you to do something a lot of us have not done, and that is track our spending," says Ken Dolan.
Daria Dolan notes, "Programs have come a long way since they were first introduced and they are designed even for use by the computer neophyte."
"I was especially impressed by the depth of information available," she says. "You can set up and track a budget, get quick valuation of your portfolio, get research reports on stocks - even be advised when an analyst upgrades a stock that you have been watching." You can also plan for retirement, for college education expenses, or for buying a home.
A good reason to start using these program right now, say the Dolans, is that tax preparation software is designed to work with them. So, you can import data from Quicken or Money right into your tax forms.
Internet access also is important, say the Dolans. Many personal finance programs allow you to access your personal finance information at your bank, mutual fund company, and brokerage firm and download it right into your software program.
Both Intuit Quicken Deluxe 99 and Microsoft Money 99 come in many versions and packages. The street price on the basic ones is around $40. You can pay more for fancier programs, but these products are sufficient for most users.
One word of advice from the Dolans: To use any of these programs effectively, you must keep up your data entry current and accurate.
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