How To Use Household Finance Software

Doing household finance chores is somewhat similar to doing the balance sheets in a company. The household works like a business entity or even a small business, but with a much smaller source of income and a smaller set of expenditures. The household would always have an inflow of funds from the salaries of the breadwinners, and there would always be bills that need to be paid on a regular basis, such as electricity, water and in some areas, heating and other services.

While most families can go on without using software to budget household finances, it’s still worth knowing that there is software in the market designed precisely to work best with the nuances of the family and household. Think of it as a way to manage the household retail expenditure, or a way to finally track how the MasterCard is being used, and how to settle debts without being neck-deep in interest.

Aside from helping you out scope out the finer details of how to stretch your dollars to fullest extent, these applications can also help give you an insight on your family’s spending and saving habits. This way, you can easily make changes in case you want to save up for a big purchase sometime in the near future.

Here are some easy to use household finance software options that could help you be more aware of where your money goes.

  1. Quicken Deluxe has been one of the most popular financial software packages for some time now, and is often used by small businesses to handle accounting matters. Quicken is also a popular choice among freelance professionals and households. Quicken lets a household track earnings and expenses, and these can be split according to major categories, like rent or mortgage payments, car payments, daily expenses and the like. Quicken also gives users the option to get alerts for upcoming bills and dues.
  2. Myelopes Personal is likewise a good choice for household finance software. The user interface is quite easy to navigate, and the system will alert you when you are spending well beyond your means. The interface will let you know how much money you have at any given time, and this is usually one important piece of information that households need to monitor, especially when times are tough.
  3. Microsoft Excel. If you can’t afford a software program that would address household finance, or if you find these too complicated, then a practical solution would be a spreadsheet program like Microsoft Excel. While the program is far from being tailor made for household finance, the beauty of Excel is its ability to transform and be customized for just about every need. You can create a spreadsheet for expenditures and income, then combine these on another sheet that computes for your balance and available resources. As an alternative, you can download pre-made templates that will make budgeting easier. has a few Excel templates that you can use in budgeting.

Household finance is often a highly personal matter, and family members often prefer to manually keep tabs on their income and expenditure. However, using software to keep track of the family’s finances would make it easier to monitor expenses and find possible ways to save money.  Taking some accounting classes through an online school can also help you work out the best budget for your family.


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