Ac­count­ing soft­ware

If you want to use your Mac to or­gan­ise your fi­nances, you need a good bud­get­ing pack­age. We look at six of the leading op­tions

Mac Format - - CONTENTS -

Hard work and good for­tune aside, the key to fi­nan­cial se­cu­rity is know­ing where your money is and un­der­stand­ing where it’s go­ing.

We all have a range of daily ex­penses, from mun­dane es­sen­tials such as mort­gages, rent and in­sur­ance, to friv­o­lous treats like lat­tes, days out to the zoo and cin­ema trips. If you find yourself run­ning on red while try­ing to set­tle the for­mer, it’s of­ten be­cause you’ve been too lib­eral with the lat­ter. The trou­ble is, it’s not al­ways easy to see that.

The odd £2 here on cof­fee or tea, catch­ing the bus in­stead of walk­ing, buy­ing a paper when you could read the news on­line… each is an ex­pense, which to­gether can quickly add up, and al­though none – on its own – will greatly af­fect your abil­ity to save for a house or pro­vide for your child’s fu­ture, it’s of­ten the small, un­re­marked ex­penses like these that have the most in­sid­i­ous ef­fect on your fi­nan­cial health.

Track­ing them all in one of the six apps on test here helps you iden­tify the ar­eas you can cut, plan a strat­egy for the last few days be­fore your next pay cheque ar­rives, build a budget and track stocks or shares in an on­line

Track­ing your in­come and ex­penses can give you an enor­mous sense of sat­is­fac­tion

port­fo­lio. Don’t be put off by the idea of work­ing with dig­its and bud­gets. It might sound bor­ing, but once you start track­ing your in­come and ex­penses, you get an enor­mous sense of sat­is­fac­tion and well­be­ing. These apps make it easy, and by know­ing ex­actly where you stand you’ll have a clearer pic­ture of what you can and can’t af­ford each month.

We’ve tested each ap­pli­ca­tion with real data in the four key ar­eas that have the great­est im­pact on your fi­nan­cial health. Each took non-US cur­ren­cies in its stride, and many cut out a lot of the heavy lift­ing by im­port­ing trans­ac­tions di­rectly from our bank or share port­fo­lio. In less than a day, we’d man­aged to set up our ac­counts in each, which means you should only need to set aside a cou­ple of hours to do the same with your own. Nik Rawl­in­son

1 iBank

£40 ig­gsoft­ware.com

Money

2

£27 jum­soft.com

MoneyWell

3

£35 nothirst.com

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