Family Budgeting Tools

Where to Get Household Budget Planners

Jul 13, 2009 Wei Yin Wong

Families can create their budgets by using paper and pen, personal finance budgeting software, online budget planners and registered financial planners.

Once the decision to draw up a family budget has been made, the next step is to write down the household income and expenses. There are many family budgeting tools, from the basic pen and paper to online budget planners and even professional financial advisers. Here are some ideas on where to get household budget planners.

Use Pen and Paper to Plan Budget

Despite the boom in software and Internet technologies, a clean sheet of paper and a pen will be just as good to start working on a family budget. Of course, having a calculator will make things easier. And if starting with nothing is a bit daunting, try making copies of budget planners found in many personal finances books that can be easily borrowed from public libraries. Many banks, insurance companies and other financial institutions often provide free paper-based budget planners. So check these out as well.

Invest in Personal Finance Budgeting Software

If the family has a lot more financial commitments and feels that a more advanced family budgeting tool is needed, consider investing in personal budgeting software. There are many types of affordable, user-friendly budgeting software in the market these days, including Quicken, Moneydance, AceMoney, BankTree Personal, Budget Express and Home Bookkeeping. Some of these programs not only help families to track their spending, they also help in investing and strategizing. Some even come with back-up systems to ensure all financial data are secure as well.

Use Free Online Budget Planners

Not all budgeting software comes with a price. Some online budget planners, especially those provided by banks and government departments such as the Understanding Money Website, are free and easy to use. Just visit any bank website and look for the budget calculator. Fill in the details online and print out the completed budget. A word of caution, though. Some personal finance sites actually use their free planners to capture personal information for marketing purposes. So be very sure before using any free online budget planner.

Engage a Registered Financial Planner

Those who find looking at figures and trying to balance the numbers too challenging or boring can engage the professional service of a registered financial planner. Just provide all the financial information required and all the hard work will be done. The financial planner can also help families to achieve their financial goals and help in other areas such as tax management, investments, retirement planning and estate planning. Choose only a licensed and registered financial planner.

There are many types of family budgeting tools to choose from. Plain paper and pen with the help of a calculator is a good start. For something more advanced, try personal budgeting software or a free online budget calculator. A registered financial planner can also plan budgets in addition to providing other financial services.

Found this article useful? Read also Household Budgeting Tips, Successful Household Budget Management and Balancing the Family Budget.

References:

Drury, Barbara. Personal Finance for Dummies. Queensland: Wiley Publishing Australia, 2002.

Davies, Justine. How to Afford a Baby. Sydney: ABC Books, 2007.

The copyright of the article Family Budgeting Tools in Family Finances is owned by Wei Yin Wong. Permission to republish Family Budgeting Tools in print or online must be granted by the author in writing.

Use Paper, Pen and Calculator to Plan Budgets

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