Budgeting Software vs Excel Budget Template

ancient computer

Everyone who has read my blog, seen me speak or read my book already knows my opinion on this debate. But we’re each different in our requirements and abilities. Should you budget using an Excel budget template, (or any spreadsheet), or one of the many software budgeting tools?

To Excel Or Not To Excel

If you asked me this question three years ago I would have emailed you an Excel budget that I built for myself and used quite successfully for several years. It worked so well, in fact, that I added an instruction tab and shared it with my friends. I told those friends that they were welcome to share it with their networks and before I knew it, I was receiving emails from people I had never met asking me budgeting questions.

But if you’re asking me today if you should budget using a spreadsheet or budgeting software, I would tell you to definitely use a software solution, such as Mint.com or YNAB. I was recently asked this exact question by one of my sisters and that is why I’m writing this article.

Here are some of the reasons I gave my sister on why she should go the software route:

– It’s a lot less work and time.
– It’s on your phone.
– It’s real-time.
– It’s free software.
– It’s not 1997!

(She and her family are now Mint.com users).

So how do you budget?

Let me know on any of my social media accounts (buttons below) and share one piece of advice about it for others too.

Photo Credit: PanelSwitchman

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