A plan specifying how family resources especially money and time will be allocated or spent during a particular period is called family budgeting. This research work covers an impressive collaborative budgeting tool that lets you plan out your spending habits either long term or short term, not dwelling on the deluge of cash wasted in the past. This application was built as a result of some everyday problems like: daily accumulation of debts, lack of savings, financial stress, among others. The software was built on short time budgeting as regards the long time which is prevalent. In addition, the software is highly processor demanding especially when in use, the application cannot monitor users with offline account and has to trust the user to input the accurate values. The research work concluded by introducing a new system that is user friendly, and efficient. On the successful implementation of the new system, it is our belief that masses will acquire this to better their standard of living.