Free Household Budget Programs

Envelope budgeting is a free budgeting system that's been used for generations.

Setting up a household budget is as easy as grabbing a pen and piece of paper, then making lists. Add together all of your monthly income then start subtracting the bills you have to pay each month. Next subtract variable expenses: things that don't have a fixed amount of spending each month such as groceries. Subtract monthly amounts for important areas such as savings or a new car from the money that remains, and you have the basic makings of a general household budget. Setting up and managing a budget is much easier to do with software and automated programs of course, and some are partially or completely free to use.

Computer Programs

Many computers come with software that can be used to create and manage your household budget. The most popular software programs are Microsoft Money and Quicken. Both of them have free trial versions so you can see how easy they are to use for keeping track of your own budget. Unless a full version was included when you bought your computer, you will need to pay for these applications once the trial period expires.

Online Budgets

Online budgeting systems are popular because you can access your information from any computer, anywhere you have an Internet connection. Many of these services even let you track basic budgeting information from a cellphone or PDA. The most popular online budget programs have free trial periods, or they a free version with limited functionality. Mvelopes lets you try the entire system free for a limited time for example, while Mint and others offer limited functionality in their free versions.

Spreadsheets

Spreadsheets are commonly installed on desktop and laptop computers with Microsoft Office, or you can download completely free spreadsheet applications such as Open Office. A spreadsheet application can be used as a basic checkbook ledger and household budget tool, and it's flexible enough to let you design a sophisticated budget tracking application or template. You can create your own budget system from scratch, or download any number of free templates from around the web.

Envelopes

Envelopes have been used as a household budgeting tool for generations. If you already have envelopes on hand, the system is completely free. If you don't have envelopes, buying some costs just a dollar or two and one box can last a long time. Using the envelope system, you simply write the name of a bill or expense on the front of an envelope, then add money to it each time you get paid. One envelope may be labeled "Groceries" for example, and if your budget is $300 a month you simply add $75 to that envelope each week, or $150 every two weeks depending on how frequently you're paid. When it's time to go grocery shopping, simply remove the available funds from the grocery envelope and restrict yourself to spending only what you have in hand.

References

• Mvelopes: Overview
• Mint: How It Works
• Dave Ramsey: Dave Ramsey's Envelope System