Do You Really Need to Upgrade Your Budgeting Software?

budgeting softwareLet’s face it.  Despite your best efforts, you can’t escape that you’re a responsible human being.  I mean, the fact that you have your personal finances properly managed in your computer seals the deal.  And somewhere in the back of your mind, when you log in to check on your money situation, you think about what version you’re using.  You know it’s an older version….ok, so maybe it’s even a decade old.  You haven’t found a reason to upgrade it.  Still, you wonder, is it time to upgrade the personal financial software?

It is ironic that upgrading budgeting software can be expensive.  And since you’ve got by on your current version just fine for some time now, what will finally push you over the edge to break down and spend the money?  What are you missing out on?

Well, if your software version is still supported (ok, maybe it’s not a decade old) and you are able to still install any updates if they are available, those same bug fixes for your outdated software should be the ones included in the current version.  In other words, you may not be missing out on anything major.  This is especially true if the latest and greatest version of your financial software has not addressed bugs that existed in previous versions.

Of course, if you wait too long, you may find yourself forced to buy a software version when you purchase a new computer.  That means one of two courses of action will be required.  First, you’ll have to start over, which means you lose all your historical transactions.  Plus, here’s a fun fact; setting up a new budgeting software is about as fun as moving.  So we move to option 2; upgrading.  Upgrading does allow you to keep all those years of nostalgic historical transactions, but it means potentially facing having to go through multiple versions to get your data into the current….which means likely having to contact tech support to have them help you through this process.  Yuck.

budgeting softwareSo what are you missing out on? Besides avoiding a painful reset or multiple version upgrade someday, you are missing out on having current tech support and new technology platforms.  But all that said, it’s not enough of a reason to spend the money.
The real reason you upgrade is to get access to the time saving features that reduce the effort you spend on record keeping each year.

How do you know what those new features are?  Searching the internet for budgeting software reviews will likely result in sites that are more interested in getting an affiliate commission off their #1 ranked product than they are providing a quality review.  However, there are trustworthy sites that review budgeting software packages in detail like www.personalfinancialsoftwarereviews.com.  Reading this sure beats testing out all these 14 day trial offers one by one.

As a rule of thumb, you can maximize your purchasing power on budgeting software by upgrading around the three year mark.  This way, you take advantage of any evolution in technology that will run better on your computer system.  Also after three years, it is likely that tasks such as putting together budgets, reports and data input will have had meaningful improvements allowing you to take advantage of the each new generation’s time saving features.

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