Family Budget – How we hate that word! The initial thought that comes to us is one of RESTRICTION. But, those of us who have been using budgets for many years can vouch that it actually provides freedom to spend money without guilt, and know that we will be perfectly fine at the end of the month. However, the question we get asked often is if a software should be used to budget and if so, which one among the hundreds of available apps in the store. So here are our recommendations:
Should you use a software?
Which software to use?
There are two options when it comes to software:
1) Microsoft Excel (or Apple Numbers)
If you are proficient in Excel, you can use Excel to develop your budget and track your expenses. One advantage of using Excel is that you can develop custom charts to track your progress. The biggest downside is that it can’t be used by multiple people at the same time. We do not highly recommend Excel for your budgeting needs. However, if you would like a copy of an ‘Excel Budget’, please contact us.