Poll: How Do You Keep Track of Your Finances?
By Jeremy on Dec 06, 2007 with Comments 44
So, how do you keep track of your finances? Do you use a specialized piece of software like Quicken or are you a spreadsheet kind of person? Or maybe you simply fly by the seat of your pants and just hope you don’t bounce a check? However you do it, I want to know.
As for myself, I’m torn. As much as a computer geek I am, I have a difficult time sticking with a software for any length of time. I’ll get the urge to download and set everything up in Quicken, only to find that a few months go by and I’m only updating it once a month. I would like to use some sort of software diligently, but I really only keep info in Quicken for checking up on the basics, otherwise it is a balanced checkbook and just regular monitoring of accounts online. I think for the new year, one of my resolutions will be to make more detailed tracking a priority.
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You Need A Budget, http://www.youneedabudget.com
works well for me also.
While I do keep a balanced checkbook, I also have a spending plan outlined in a notebook for every month. Since I use credit cards, I need a way to keep track of where the money is going. And once the money is gone in a particular category (even if spent via credit card), I cannot spend any more. This method has kept me on track for a while now.
I tried using quicken, but quickly went back to my home-made spread sheet. It works for me.
I use Microsoft Money 2002… Yep ya hear me right! 2002. I have also used the freeware Money Manager EX as well, but prefer a little more power. I am also an Excel wizard but tend to spend too much time tweaking the sheets.
I use Moneydance. Quicken and MS Money got too bloated and Moneydance does everything I need.
I have been using excel for the past 3 years. Like you, I cannot stick with a piece of software for one reason or another. Besides, I think it’s important to know the formulas in the background and to develop different worksheets to track cash flows, investment performance and budgets.
I use Quicken. I have all my accounts set to download automatically (except my primary banking relationship – my bank and Quicken do NOT get along).
I download activity once a day (including my checking account) in ther afternoon (I leave my house too early in the morning for the accounts to be updated), check the credit cards for any “strange” entries and pay bills on the websites as needed (I use Outlook and Quicken Scheduled Payments as reminders).
I typically have everything PULL from my checking account, as it allows me to schedule the payments for the last possible moment, and in the event I do not have the funds, will hit my overdraft. My bank’s billpay does not process payment if you have insufficient funds. Since I check my accounts in the afternoon, I can resolve any overdrafts without being charged interest since they are settled on the same day!
The only items I write checks for the deductible contributions (for proof) and for my water bill. My electric/gas bill are billpay from my bank (they don’t accept credit cards). Virtually everything else is processed by credit cards.
I have a second checking account where I pull money at non-primary bank ATMs because they have fee reimbursement. This is usually just for lunch money, as my office has an ATM & kitchen in the building.
My husband and I have been using Mvelopes for about 2 years now. It’s been amazing for us. I had always wanted to use the envelope system for budgeting our money but felt very weird about having cash lying around. I was also too lazy to create a complicated spreadsheet to do it for me. And then there’s the having to enter all the transactions by hand.
Mvelopes has made it all so easy. It downloads the transactions for us and it’s all Flash so it’s just drag and drop. I can also check on my finances from anywhere there’s an internet connection.
The only bad thing is that it’s pay to use. I think the plan we’re on has it at $13.50 a month. I’m pretty sure that it’s saved us at least that much each month in not spending what we can’t afford.
http://www.mvelopes.com
I use Dave Ramsey’s Financial Peace software. It’s simple, but it works for me.
I just simply keep a balanced checkbook and use my online banking accounts to keep track of bills, but unlike most people, I own two homes mortgage free, both of my cars are paid for and I only have two credit cards that I never use, so I have about 10 bill per month that are all on auto-pay. I do use an excel spreadsheet to keep track of my stock investments.
I use Yodlee and Google Docs.
I used to use Quicken, but like other commenters have said, I’d fall off the wagon of data-entering eventually. Yodlee automatically downloads everything for all of my accounts (and rewards programs, too), so I don’t need to do anything except categorize transactions and play with graphs.
1) Quicken to track my net worth.
2) Mint.com to track my spending habits.
3) Excel to plan my investment directions and to track other miscellany.
I find Quicken very aggravating and lacking in a couple of key areas (like how it tracks transfers between personal accounts). That’s why I prefer Mint.com for spending / budgeting. I’ve always been an Excel nerd, and I love having control over both the input and the output in Excel.
I mainly use Mint and moneytrackin.com for my finance tracking. Both of them are web application and they are convenience for me.
I’ve been using Quicken since the 90s, upgrading only when it tells me that online services are about to expire.
I use YNAB: You Need A Budget http://www.ynab.com
Works perfectly for me
I also use YNAB. I’ve used it over a year and I really like it.
I find http://calendarbudget.com to be the simplest and most powerful tool for my family needs. Its the only thing we use and helps us plan into the future very effectively.