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What to Look For: Personal Finance Software

by charcole

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Personal finance software should be able to provide many user-friendly features that allow you to manage every aspect of your finances, including your accounts, investments, future plans and taxes.  The software must also have current information on tax laws and stock reviews to help you make informed decisions. – From the westhill consulting financial services...

Criteria to evaluate personal finance software:

Ease of Use.  Personal finance software has to be very easy to use and should be able allow you to track transitions, set up accounts and see detailed reports.

Banking & Bills. Online banking requires tools to make wise money decisions such as a bill pay service and the ability to import all account data including transactions right into the software.  The greatest decision is if you want personal finance software get one that allows you to manage your savings and checking accounts as well as your loan, credit card and mortgage accounts.

Reporting. Reports are the concluding event to weeks, months and years of devoted money management.  Cash flow, personal investing and all additional transactions are illustrated by pie charts and line graphs within the personal finance software.  The capacity to spot precisely where your money is going is vital when trying to make a decision where to cut back in order to save.

Help & Support. So that all of your questions are answered in a timely manner, an online user manual, customer forum, email support system and even an integrated help section must be made available by personal finance software.

Archiving & Security. Security is a very important attribute for your personal budgeting software to provide.  Your account numbers, personal information and other bank information are used to set up and manage accounts within the personal finance software.

Personal Investing. Go find a personal finance software that provides its users with the tools required to manage stocks, bonds, mutual funds, 401K, and many else.  Personal investment options within the software will permit you as well to plan for retirement, home purchases, how to manage collage expenses, debt relief and other financial goals.

Tax Options.  There are also personal finance software that can export all of your financial information into tax software and assist you find missed deductions and calculate approximately your tax with holdings and capital gains.

Source: westhill financial

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