Budgeting apps

Gammawolf · 18 May 2016 at 17:18

I use moneydashboard. It just pulls all the info from the bank and i go in every few weeks and just spend a few minutes catogorising the purchases.

Craig321 · 18 May 2016 at 17:22

Gammawolf said:
I use moneydashboard. It just pulls all the info from the bank and i go in every few weeks and just spend a few minutes catogorising the purchases.

Wouldn't mind using that as it sounds like it does what I do in Quicken, but automatically. But, back when it was launched, I heard all sorts of things about the security behind it, dodgyness, etc?

Why is it free? Advertising? Do they collect and report on your data?

Cosimo · 18 May 2016 at 17:23

Try Google Sheets:

https://www.google.co.uk/sheets/about/

Plenty of free templates:

https://drive.google.com/templates?q=budget&category=14&sort=users&view=public&ddrp=1#

Scougar · 18 May 2016 at 17:27

I have excel... does google sheets offer something better that what excel does?

Derek W · 18 May 2016 at 17:33

Scougar said:
I have excel... does google sheets offer something better that what excel does?

Just use Excel. That's what i use. Simply put your salary in one column, check what debits you have coming out on a monthly basis and whats left is what you can play with. Remembering about 'unforseen' bills is just something your brain has to deal with and unfortunately no app / software / spreadsheet will help you with that

Ekim · 18 May 2016 at 17:33

Dunks said:
http://www.youneedabudget.com/

I came here to say this.

Freefaller · 18 May 2016 at 17:42

I use YNAB it's a great bit of software

adolf hamster · 18 May 2016 at 17:55

Spreadsheet- start by listing all the regular costs you have- pension, heating, electricity, internet, phone bills, netflix car insurance/tax etc.

Then think of potential/not fixed costs, like for example car repair/service costs, food bills, christmas shopping etc, make an estimate of what you'll need and add it to your regular costs.

Then simply figure out the total cost/year (or month or whatever you want) and subtract it from your salary. Whats left is what you can "frivolously" spend. Its a good idea to skim off a chunk for a general "emergency" fund if you can manage.

Pudney · 18 May 2016 at 18:10

Fairly sure the answer is no said:
simplest way to budget is having 2 bank accounts. one for bills which you set up a standing order to put x amount in that will cover the bills and one off extras, and then another account for fun stuff. put say £500 in per month and then don't worry about budgeting. spend just on that card the stuff you consider extras.

I do this and combine it with a weekly text alert so I know the balance on each account at the end of each week.

Scougar · 18 May 2016 at 18:21

That isn't a bad idea with two accounts. I kinda like that idea.

I have a pay schedule I really don't like, it's every two weeks.

I have bills that fall at the end of the month (personal loan, car loan, car insurance), then my rent at the start of the month (has a few days flex on that). I am also having to pay for some large vet bills at the moment as there always seems to be something wrong with the dogs that keeps screwing me over financially. 700 for dog to have his nuts removed for a prostate problem (he's 7 y/o), and 1250 for my other dog to have a tooth removed, not to mention her tablets at 150 a month for allergy or her hair falls out, and a lot of other expenses for them.

Everytime I feel like I'm getting ahead I get a massive bill lol. Now I have about 3600 in savings, but this will slowly go down if I don't get a handle on it.

Simon42 · 18 May 2016 at 18:33

I actually find it difficult to see how people get by without a spreadsheet or similar calculations to know how much disposable income they actually have.

I've done this since I started work and simply keep in mind how much I could spend on fun things each month. If I stick to that and bank balance goes down then I am missing something from the spreadsheet and go fix it. It's surprising how much cars, household appliances, furniture, pets etc cost over time.

Sticking that disposable amount in a separate account each month may be a good idea - its whatever works for you but it has to start with knowing what's left.

Roar87 · 18 May 2016 at 18:34

I just use a spreadsheet I made in Excel. One column balance, one column money coming in, one money going out. Put it all my fixed costs like bills, food travel etc, then you can track how much money you should have at the end of each month. I'm sure some people have more complicated spreadsheets but mine works for me.

Whitewater · 18 May 2016 at 18:36

adolf hamster said:
Spreadsheet- start by listing all the regular costs you have- pension, heating, electricity, internet, phone bills, netflix car insurance/tax etc.

Then think of potential/not fixed costs, like for example car repair/service costs, food bills, christmas shopping etc, make an estimate of what you'll need and add it to your regular costs.

Then simply figure out the total cost/year (or month or whatever you want) and subtract it from your salary. Whats left is what you can "frivolously" spend. Its a good idea to skim off a chunk for a general "emergency" fund if you can manage.

This, pretty much. We also list stuff that has to be paid annually and divide the total cost of those items by 12 and save that amount monthly. The rest is put into another savings account once direct debits are taken into account. My Wife's weekly pay goes on weekly expenditure like food and fuel, the remainder is saved.

Scougar · 18 May 2016 at 19:22

Whitewater said:
This, pretty much. We also list stuff that has to be paid annually and divide the total cost of those items by 12 and save that amount monthly. The rest is put into another savings account once direct debits are taken into account. My Wife's weekly pay goes on weekly expenditure like food and fuel, the remainder is saved.

I did actually go on a finally course recently that I paid for. I know what I should be doing, and I do have the emergency fund... I just screwed it all up when A) I bought a car when I shouldn't have lol B) The marriage went **** up and I ignored the money stuff.

Thanks guys, giving me some useful stuff to think about.

Dis86 · 18 May 2016 at 19:25

Don't budget. I just spend all my money on fast cars and cheap ho's.

On a more serious note I genuinely don't budget but my first port of call would be a spreadsheet like Excel.

Monkeynut · 18 May 2016 at 19:47

"My Budget Book" for Android.

Freefaller · 18 May 2016 at 20:42

As good as it is to budget it is worthless if you don't stick to it.

McBain · 18 May 2016 at 20:50

Just use google drive, create new spreadsheet, job done.

Scougar · 19 May 2016 at 18:59

YNAB wants money... oh. I might give it a trial... will see. If it doesn't have that feature of auto allocating stuff... I might not get it though.

Droolinggimp · 19 May 2016 at 19:10

The last two years I have just used Calc on Open office. I have a set up with month by month but as I (wife is too) am paid four weekly I have each month as a column dated 1st to 31st or whatever is the end date. I input each DD/SO other bill on the actual date it comes out in the column next to the date and have each pay day highlighted every fourth Friday so I get a final expenditure and surplus at the day before the next pay day. As my bills are monthly in October/September I have roughly a full wages that is surplus as I get paid twice in that month. My pay day are staggered each month. It may seem a crap way of doing a budget but it's probably better to see it than try to explain it.

It works for me and my wife and have managed our finances for the last few years this way and its been pretty good. It's been a bit hap hazard this last few months having to pay out loads for a wedding and having to move money fro A to B but it's now back in order as everything is now paid and we are starting a new out look on money.