Introduction to budgeting with Microsoft Money

Microsoft Money is great software that assists in creating a budget. The software is user friendly and helpful in organizing finances. Microsoft Money, which comes in the traditional, essential, deluxe, premium and home and business versions, allows the software's user to speedily gain control of budgeting through its specialized software tools. These tools can help a software user create an existing budget in addition to potentially improved budgets. Microsoft Money's budget features include the listed items below:

• Software created average spending amounts
• Expense categorization
• Spending tracker
• Budget timing
• Graphical and spreadsheet output displays
• Financial record keeping

Prior to utilizing Microsoft Money's budgeting tool, it is important to know what one's total income and expenses are so they may be inputted into the software. In other words, organizing income statements and expense bills to accurately enter financial information into the software helps ensure the quality and utility of the budget. Setting up a budget using Microsoft Money is fairly simple using the following steps.

1-Click budget
2-Simple or advanced budget options
3-Listing income source(s)
4-Entering budget items ex-gas, utilities
5-Enter all dollar amounts

Keeping up to date with inputting numbers, accounts and expenses not only helps build greater attention to one's budget, but can also help with budget improvements. Microsoft Money's output budget display includes a budget summary of total income and expenses in addition to graphical illustration of where money is spent, how much money is being spent on various types of expenses, how much money is not spent and where that money is coming from.

Looking up transactions and money allocations is a cinch for Microsoft Money after the information is entered in to the program. The hardest part of budgeting with Microsoft Money is entering all the pertinent financial information and keeping up to date with it. The budgeting benefits of Microsoft Money include a greater awareness of one's finances, how to organize them, how to keep track of them, and how to interpret financial scenarios that might not be so easily recognized had Microsoft Money not been used.

The budgeting benefits of Microsoft Money don't stop with its budget creator. In fact, Microsoft Money has many helpful features that can assist with enhancing a budget. For example, Microsoft Money organizes finances by setting bill reminders, balancing the digital checkbook, and by reviewing spending patterns. Microsoft Money's software quiet simply, helps its users gain more control of budgeting.

Sources:

1. http://www.microsoft.com/money/default.mspx
2. http://www.microsoft.com/money/support/support_manual.mspx
3. http://tinyurl.com/64l7jwf