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Budget or Fudge It: The Budgeting Software Quiz
by Staff
Interested in knowing how the software that keeps you on budget actually works? Looking to try out some new options for your home or business? Let's see how much you know.

What was the first commercially available spreadsheet program?

  • VisiCalc
  • VisionCalc
  • VisiCalculator

Who's the leading software maker in the field?

  • Intuition
  • Intuit
  • Microsoft

What year was Mint purchased by Intuit?

  • 2008
  • 2009
  • 2011

What year did Microsoft stop producing its Money program?

  • 2007
  • 2008
  • 2009

How much does small business software typically cost?

  • Between $500 and $1,000
  • Between $100 and $400
  • Between $25 and $100

Do I have to purchase budgeting software in a brick and mortar store?

  • You need to order the software online before you can use it.
  • For security reasons you need to purchase a boxed copy in a store.
  • No, many programs can be downloaded online or are entirely Web based.

What's the primary goal of budgeting software?

  • To tell you how much money you have.
  • To help you make financial decisions by integrating all of your accounts in one place.
  • To force you to save money.

How much does personal budgeting software typically cost?

  • Free to $100
  • $100 to $400
  • $500 to $1,000

What is one of the biggest and most recent advances in budgeting software?

  • New mobile applications which help you track expenses anywhere.
  • New services that let you export content from your bank.
  • New math that helps you save money by using the software.

Can spreadsheets be used as budgeting software -- for free?

  • No, spreadsheets can't track that kind of information -- at least not for free.
  • Yes, you can download free budgeting spreadsheets online.

What are the concerns with Web-application versions of budgeting software?

  • They're not as full-featured as their software counterparts.
  • Security, since you're signing in with multiple accounts, including your bank account.
  • They don't allow you to integrate your bank accounts.

How does budgeting software tell the difference between purchases?

  • By looking over the receipt and deciding based on what you purchased.
  • It just knows.
  • By looking at the point of sale and comparing it to a database.

Are free solutions safe?

  • No, they will steal your bank information.
  • Yes, but it's still important to look at online reviews before entering your bank account information.

Is budgeting software really just a balanced checkbook?

  • Budgeting software is only for budgeting.
  • Budgeting software doesn't handle the balancing of your expenses.
  • It's more like a balanced checkbook on steroids -- one that helps you better plan your savings.

How does budgeting software automatically link to my bank account?

  • You enter in your credit or debit card number.
  • It doesn't; you have to manually enter in all of your receipts.
  • You enter in your bank login information.

Can I use personal budgeting software for a business?

  • No, business accounts are automatically locked out of personal budgeting software.
  • Yes, but you won't get features like inventory or payroll, so it depends on the type of small business you run.

How does budgeting software figure out how to save money?

  • Many programs allow you to set a type of savings plan, and the budgeting software simply does the math to figure out how much you need to save.
  • It tells you to stop spending so much money on coffee everyday.
  • It balances your checkbook.

What types of reports would I get with business software?

  • book reports and report cards
  • Business software cannot generate reports.
  • financial forecasts, spending habits and expense reports

Can budgeting software send me alerts if my account is hacked?

  • Yes, many will let you know via e-mail or text message if it notices an unusual charge in your bank account.
  • No, only your bank can send you that information.

What are some options other than Quicken for budgeting software?

  • Quicken is the only option for budgeting software.
  • Microsoft Word, Photoshop and iTunes
  • Mint.com, Peachtree, Plan Guru, You Need a Budget