A system and method of performing financial management tracking comprising entering, on a mobile control device, data associated with a financial transaction; storing said entered financial transaction data in a database within said mobile control device; periodically synchronizing said mobile control device database with a base station database via a communications link such that budgetary and financial transaction data is update. In one embodiment of the invention, each member of a household utilizes a separate mobile control device, each of the mobile control devices is synchronized with the base device such that all mobile control devices are synchronized with each other.