BudgetPulse: An Online Budgeting and Financial Management Software

By Pinyo, on July 20, 2009

There are many free budgeting software online today and Mint is probably the most well known of them. Recently, I came across BudgetPulse through one of my regular reader, Craig Kessler. I was impressed by the software and worked with Craig to set up a brief interview. In this article, you’ll learn why BudgetPulse is different from other budgeting software and tools, and why you may want to give it a try.

1. First, can you tell us a little bit about yourself?

My name is Craig Kessler and I am the Marketing Director of budgetpulse.com. I enjoy managing the site and connecting with users and others involved in the personal finance environment to get a better sense of the wants and needs of those looking for quality personal budgeting software.

2. When and why did you start BudgetPulse?

Raj (Premraj Jeyaprakash) the CEO of BudgetPulse created the application because he wanted an easy way to keep track of his finances and was frustrated with the other options available. He also feared giving up his personal bank information and wanted to create a tool where he did not have to worry about identity theft. He used it for himself and gave it to friends and family, and with so much positive response from them he decided to work on it further so others could benefit from it as well.

3. Why should people use BudgetPulse — i.e., what are the key benefits?

BudgetPulse is a manual budgeting software. Other tools like Mint, Geezeo, and Wesabe, sync personal bank information with their system and often times it can be delayed. For those who have security concerns, they do not have to worry at all with our tool because we do not access any personal account information. Our users simply input their transactions manually or can import their financial bank statements, which they can download from their banks.

Our users prefer manual input because it forces them to be more proactive with their budgeting and they can directly see how their spending affects their budgets as they enter the information. BudgetPulse also works well for international users who would like to use a budgeting software but cannot use budgeting tools that sync.

Our simple tool is great for people of all ages, including students. Students who want to practice budgeting before they enter the real world now have that chance, even if they don’t have any bank accounts set up.

4. What are your users saying about your product?

We recently have completely revamped the entire site and our users are very happy with the new design and how it is easier for them to navigate around the site to perform the functions they love. They specifically enjoy working directly with me and adding suggestions on how the site can be improved for them in the future. Our users continue to tell us how they have searched through several tools and were so happy when they have found ours. It has helped them get their budgeting set even when they have very little previous financial knowledge.

5. What’s your future plan for BudgetPulse — i.e., what new features should we expect?

We are working on releasing a new major feature that will allow goals of all kinds to be set up. Similar to the way SmartyPig functions, users will be able to set a goal and can keep it private or public to those they want to include. Then they will be able to track who donates what towards the goal over time and can see their goal being reached.

Another feature we are looking into down the road would be to allow group budgeting. This could help small businesses or groups where multiple people involved are expensing items. This way the group can keep track of who spends what and each member can be accountable for and each member has access.

These are just two, but we are always looking into more and working with our users to see what they desire.

6. Can you give us a few budgeting tips?

I stick to the basics when it comes to budgeting and savings. Spend less than you earn, and pay yourself first. Another tip that I personally have been working on over the past year is to reduce impulse purchases by waiting a day. If you are out and see an item you like, wait a day and think it over. You may realize that you have no real need or want for the item, it was more the impulse that was bringing you in.

7. Are you planning to charge users for using BudgetPulse in the future?

In the future we are looking into releasing a premium version of BudgetPulse on top of the current free tool.

For more information about BudgetPulse, you can check out BudgetPulse Blog and Forum. Also, if you have been looking for a free alternative to YNAB, this might be the software you want to try.

Pinyo is the owner of Moolanomy Personal Finance and an entrepreneur with over 20 years of business experience. He is interested in business management, investing and wealth management. He has written for many online publications, including American Express Currency and U.S. News Money. You can follow him on Facebook and Twitter.

Add Your Question or Comment (One Comment)

1. Craig:

   July 21, 2009 at 12:02 pm

   Thank you for mentioning BudgetPulse. The interview was a lot of fun and we have big plans for the future of the software. If anyone has any questions, they can reach me directly.

   Craig Kessler
   Marketing Director at BudgetPulse
   craig@budgetpulse.com