How Microsoft Money can help in financial matters
Ajib Warda Royhana, 2301932973
How Microsoft Money can help in financial matters, as follows. :
- Keep accurate records of expenses and income
Each time a user records a transaction in an account register, the user categorizes it. A check that a user writes to a clothing store, for example, is given the Clothing category. Credit card bills created after entering a user into a restaurant will be included in the Eat category. Salary deposit is given the salary category. After the user records the transaction for several months, the picture of how the user spends the user’s hard-earned money will begin to become focused and produce a report or graph that shows exactly how much the user spends.
- Estimating income tax
Another advantage of categorizing costs and income is being able to estimate income tax bills. Rather than paying an accountant to look for tax-deductible expenses or determine a source of income, users can create tax returns that do the job in lieu of accountants. By summing up the amount spent in a category that describes the costs that can be reduced in taxes, of course, you can find out how many costs can be reduced by taxes.
- Can handle investments
In the late 1990s, all one had to do to become a successful investor was to take money from stocks or mutual funds, but bears had dominated the bull market in the 1990s. These days, and certainly must be smart and insightful to become an investor.
- Planning ahead
Planning for the future isn’t easy, but money can help to peer into the future and plan for the future. If you track your investments, users use retirement planning to project how investments will grow and see if they can cover the cost of living in retirement.
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