If there are three things that one needs to invest in, in order to be able to maximize earning potential, aside from these points outlined in this post, it would be these:
- Great budgeting software
- Continuing education
- Great stock brokers
Crucial Investment #1: Great Budgeting Software
A budget is your cornerstone in managing the finances that would come your way. Without a plan to tell your finances where they should go, a.k.a. A budget., there is a high possibility that you may spend your money through. Chances are, some of us may even just come out of a spending haze, not realizing where all that money went. Remember, a huge income is nothing unless you know how to manage that income.
In order to make things easier for you, great budgeting software is needed. While YNAB or You Need A Budget software is great for usability and for people who need simplicity in their personal finance, Quicken software is great for those who need something more comprehensive than YNAB.
The Quicken 2010 line comes in different variants: the Quicken Starter Edition ($29.99) is for basic, personal use, such as creating and managing budgets, as well as upcoming bills. Quicken Deluxe ($59.99), on the other hand, includes features which would help you save for a large purchase. Quicken Premier ($89.99), has an additional feature: the ability to track and manage investments. Other Quicken variants include Quicken Home and Business ($99.99); then Quicken Rental Property Management ($149.99).
Quicken software is possibly the closest approximate to MS Money. Since Microsoft discontinued the development and sale of MS Money, Quicken has since replaced that niche. While it has been said to be too bloated, Quicken, on a positive point, is a robust and comprehensive budgeting software. This would be great for business people who need something more intuitive than a personal budgeting software. With the investment tools of Quicken Premier, and for those who are into rental property, Quicken Rental Property Management, software tools such as Quicken software definitely make managing your business a lot more easier. And an easier time in doing tasks like keeping track of expenses, financial influx and investments would free up your time and your energy for more productive pursuits, like expanding your business.