MoneyWell™ Envelope Budgeting for Mac OS

There is a new budgeting software pick for Mac computers. MoneyWell™ is financial software that does envelope budgeting and generates quick reports to help you to closely monitor spending. The idea behind envelope budgeting is that you only spend what you have earned - great concept, huh? >>wink<<

MoneyWell's "envelopes", or spending categories, are represented as spending buckets which show up on the left pane in the software. As you record income, it is distributed among the buckets and the amount available to spend, revealed under each bucket, increases. Spending buckets are given priorities so higher priority buckets get filled with income before lower priorities.

When an expense is recorded, you take money out of a bucket and the amount left to spend under the bucket decreases. If all the money is spent in a bucket, it tips over; if you continue spending from that bucket category a red exclamation point appears on the bucket with a notation of how much has been overspent.

MoneyWell has an introductory price of $39.99, and while the software has a nice interface and will import QIF data from Quicken and Microsoft Money, Budget by Snowmint Creative Solutions LLC does envelope budgeting on a Mac - or PC - for $29.99.

MoneyWell looks slick and works well, I'm just not convinced it is worth $10 more than Budget. But, you can judge for yourself because both of these envelope budgeting software applications have free trials:

• Get the MoneyWell for Mac free trial
• Get the Budget for Mac free trial

Software review - Budget for Mac or PC

Software Review - Mvelopes Online Envelope Budgeting Software for Mac or PC

Have something to say about MoneyWell or Budget? Let us know in the comments!