This week I have been attempting to respond to a recent comment made on my “Oh brother (he’s on his own)” post. Try as I might, the reply continues to lengthen. I really want to give this comment a thorough response so I’m going to turn my reply into a new post. This one’s for you, Julie!

The question raised was regarding Microsoft Money , as compared to other spending tracking tools, such as Wells Fargo’s My Spending Report.

Microsoft Money is an accounting software program designed specifically to help people manage their money. There are a few versions you can purchase (depending on what level of money management you are looking for) and they offer an online tour to help get you started. Having not used Microsoft Money personally, I can't fairly assess the program one way or another. If you have experience with it, let us know.

What I can share, though, are my top five favorite features about My Spending Report—I’m a big fan. In no particular order:

1. It’s free.




2. My Spending Report is already available—no software installation necessary. Just log in to Online Banking at wellsfargo.com and sign up; reports generate right then and there for you.




3. You can access My Spending Report from any computer, anywhere (Mac or PC, internet café, library, etc.).




4. My Spending Report automatically collects and summarizes your Checking Account, Check Card, Credit Card, and Bill Pay spending and organizes it into familiar categories like groceries, gas (yikes), restaurants, and more.




5. You can download your spending report results into an Excel spreadsheet or PDF (which is particularly handy at tax time).

I’m happy to report that organizing your finances this way is kind of a no-brainer. You can ditch the pocket protector and calculator watch and leave the work up to us!

Not convinced? Want more info on My Spending Report? Take a tour, or check out this complete list of frequently asked questions (and answers.)