Our Archive of Articles About Financial Literacy and Other Topics
Take Advantage of Your Computer's Money Management Capabilities
January 14, 2008, 3:37 pm
Using your PC to improve your personal financial management habits.
One of the more useful capabilities today’s personal computers provide is money management. There are several software packages available at computer stores and through catalogs that allow you to manage and track both your checking and savings accounts, not to mention any investments you may have, on your computer. With some of these programs, you can even write checks from your account and run them off on your printer, and the check is automatically entered in your check register on screen.
This type of software usually makes quick work of balancing your checkbook, too. More important, though, it provides a system that makes budgeting a lot more practical. One of the exercises we recommend to our clients at SPRINGBOARD is to keep a log of how much money they spend. By tracking every expense, the client starts to see how much money is being wasted. With the right software, you’ll easily be able to see how much money you spend on regular expenses, such as utilities, groceries and entertainment.
And most major banks now offer comprehensive online bill pay services through their web sites. For a lot of people, this makes buying money management software unnecessary.
Personal computers can also help you file your tax return, provided that your finances are fairly simple. If you’re filling out a 1040EZ or a 1040 form, an income tax software package will make the process a lot easier, and will even print the forms out in a format that you can simply sign and send to the IRS. For more complicated returns, though, we recommend using a qualified tax professional.
Since you’re using the Internet to read this, you have even more opportunities to save money and manage your finances. For example, you may be able to drastically cut down on your long-distance phone bill by using e-mail, especially when you just need to pass some information on to the person at the other end of the line. Also, you may be able to pay many of your bills electronically if your bank or credit union and the company you’re paying the bill to have the right systems in place.
Being on-line means hours of cheap entertainment, too, as well as a convenient place to do comparison shopping. Take advantage of your computer and your internet connection to become a wiser and wealthier consumer.
About Springboard Nonprofit Consumer Credit Management
Springboard is a nonprofit credit education and financial counseling organization founded in 1974. The agency offers personal financial education and assistance with money, credit and debt management through confidential counseling. Springboard is accredited by the Council on Accreditation, signifying high standards for agency governance, fiscal integrity, counselor certification and service delivery policies. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. Springboard is a HUD approved housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies. The agency has several locations in California and offers face-to-face and nationwide phone counseling services. For more information on Springboard, call 1-800 WISE PLAN (1-800-947-3752) ext. 7750 or visit their web site at www.credit.org.
