PTM 030 – Going from Free to Paid Business Model with Phil Anderson of

Part Time Money PodcastToday’s podcast featured Phil Anderson, creator of, the free online budgeting tool.

Phil wanted a piece of software that would simply help him manage his money. He also had a strong desire to be his on boss. So he used his software development skills to build the tool that he needed. He shared it with the world for free and called it BudgetSimple. He has since moved from a strictly free model to free and paid versions. Phil has been able to leave his job to work full-time on BudgetSimple.

In the interview, Phil shares his motivation for creating the tool, his financial philosophy, how he developed and marketed the tool. Also, Phil and I talk in length about moving from a free to paid model. If you’ve ever wanted to develop your own online software tool I’d highly recommend you listen to this podcast.

Listen to the Podcast


Phil Anderson BudgetSimple

Phil Anderson, creator of

Highlights from the interview:

1:00 – Motivations for creating BudgetSimple
1:45 – Phil’s background
3:20 – Working on BudgetSimple while managing a full-time job; dealing with the launch of
6:45 – Users, the initial premium version
7:40 – User feedback drives premium features
8:30 – Making the transition from part-time to full-time
9:30 – How did this affect your finances
11:00 – Phil’s financial philosophy built into BudgetSimple
13:00 – Using .Net and PHP to build the software
14:00 – Why Phil uses contractors for design
15:10 – Getting users through SEO and word-of-mouth
17:20 – Pricing the premium version: BudgetSimple Plus
21:30 – Dealing with the security issues with an online budgeting tool
26:15 – BudgetSimple is saving marriages!

Mentioned in the Interview:

Stripe: Payments for Developers
21 Websites that Save You Time and Money

Watch the Google Hangout with Phil Anderson

Thank you so much for listening!

Non-iTunes feed for you to subscribe to the podcast. For iTunes users, you can subscribe there using the unique iTunes feed.

Transcription: show

Last Edited: March 8, 2014 @ 11:05 pm The content of is for general information purposes only and does not constitute professional advice. Visitors to should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Philip Taylor

Philip Taylor, aka "PT", is a CPA, financial writer, FinCon CEO, and husband and father of three. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or view the Philip Taylor+ Google profile.