Money Management Software Makes A Difference

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Money Management Software Makes A Difference

Published on: November 4th, 2008 12:01am by: creativebeing

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It isn't often that it can be said that a piece of software is going to make a big difference in your life, but given the current U.S. economic crisis, this time it may well be true.

(OPENPRESS) November 4, 2008 -- It isn't often that it can be said that a piece of software is going to make a big difference in your life, but given the current U.S. economic crisis, this time it may well be true. This is because money management software does a lot more than just list figures on a spreadsheet; properly followed, it helps businesses and individuals work their way out of serious financial situations and puts them firmly on the road to wealth and financial freedom.

'The concept of money management is a little different than what many people are used to in terms of handling finances," says Sandra Simmons, President of Money Management Solutions (www.moneymgmtsolutions.com), a money management software and financial consulting company. "There is a lot of financial accounting software out there in the marketplace, and it would be very easy to assume that money management software is the same," she says. "But there is a very important difference. Money management software is proactive and forward looking. Accounting software simply records events that have occurred in the past and does little to put the individual in control of their financial future."

Accounting, by its very definition, is the recording of financial events that have already occurred. While extremely important, most accounting programs do little in terms of the kind of financial planning that is necessary to guide the user in the right direction.

Money management, on the other hand, is defined as the correct guidance and planning of cash flow. It is controlling the cash flow — where income is going to come from, how it will be used to the company’s best financial advantage, and what future needs for cash resources ar coming up in the future — that determines wealth and financial freedom.

"Accounting software is really not designed to build wealth," says Simmons, "and perhaps that is the biggest difference. A money management software, on the other hand, does build wealth because it teaches people how to properly manage their money in such a way that they are not only getting out of debt, but also continually increasing their net worth and the amount of money they have in the bank."

Simmons contends that the wealthy are wealthy because they know how to handle and manage money properly. What is important is not merely living a rich lifestyle; rather, having a large reserve of dependable assets with little or no debt that is the essential financial condition for any individual or business.

"I think that the current economic meltdown is proof positive of how dangerous it is to get too over-extended in terms of credit and debt," states Simmons. "I think we fool ourselves sometimes into thinking that somehow the laws of economics and finance are different for governments and large companies. They're not. If you violate sound money management principles, regardless of the size of your purse, you're going to get into trouble at some point. It's usually just a matter of time."

And, indeed, Simmons has sometimes found resistance from some heads of finance when she has been called in to help handle a company or business that has gotten into fiscal hot water. The temptation to try to borrow oneself out of debt and financial emergencies is a philosophy that runs deep in many businesspersons minds. Simmons prefers to get the company to out-produce the problem and reduce debt while increasing revenues without giving in to the temptation to borrow more money and go deeper into debt.

"Credit is really a financial black hole, a trap, that just begs us to step into it," she sys. "It's not that credit is bad, it's just that many people use it when they can least afford to, and once they step into that trap, it can be very, very difficult to climb out. It can be done, but it involves a change of viewpoint."

Although she has been warning her readers for years now that the ever-increasing reliance on credit and debt were edging us closer and closer to an extremely fragile economy, the drug apparent prosperity and availability of easy credit lead to fiscal blindness. Simmons' clients, however, are in relatively good economic shape.

The money management software system that Simmons developed isn't difficult to learn or understand. In fact, her money management software comes with a complete set of training videos. Getting on to the road to wealth and financial freedom mostly takes a bit of discipline and the willingness to handle finances a little differently than one is used to.

"The money management software basically holds the user's hand and walks them through the steps necessary to get out of debt and build wealth," says Simmons referring to how her software works. "If one just puts in a little time and follows the steps, anyone using it is going to wind up in a much better financial position in a fairly short period of time. And it doesn't matter if you are an individual, small business, or a large company. The money management principles remain the same, and they will work extremely well regardless of the amount of money you're dealing with."

Can a piece of software really make that much of a difference? There's only one way to find out. See for yourself.