Managing finances

Kerplunk

Kerplunk

Kerplunk

Soldato
Joined
10 Jan 2006
Posts
9,395
Location
Bournemouth tbh
I am actually wanting to manage my finances, so I know exactly what is going in and coming out, i.e. direct debits, standing orders etc.. inc. pay day.

Is there some software, or perhaps maybe even in excel? a way of setting up this sort of data ?

I am looking to turn to online banking in a few weeks, which will give me that bit more control.

So any of you manage your finances well?
 
I would just set up a simple excel spreadsheet that has one cell designed as a "balance", then add positive or negative values along with what the purchase was as you go..

I dont keep accounts personally, like. Just check my bank balance and have a rough idea of where I am in my head, thats all I need :)
 
I have a spreadsheet of the regular ins and outs each month.
Where possible everything is on monthly direct debit as well eg gas, electric, tv licence etc at fixed amounts.
 
Kerplunk said:
Thanks for that link cheets64, will have a nose later - is it difficult to use?
Click to expand...

No, you just work through what you spend a month, there is every thing you need from Pet Insurance to New Clothes, you can work it out in weeks/months/year. Then you put in what your income is and it works out whats left and if your in Green Happiness or Red Misery.

Best one i have seen and its free :p
 
Kerplunk said:
I am actually wanting to manage my finances, so I know exactly what is going in and coming out, i.e. direct debits, standing orders etc.. inc. pay day.

Is there some software, or perhaps maybe even in excel? a way of setting up this sort of data ?

I am looking to turn to online banking in a few weeks, which will give me that bit more control.

So any of you manage your finances well?
Click to expand...
There's plenty of software available, depending on how far you want to take it, whether you want auto-sync with your bank, and what degree of personal accounts you want to track.

The two best known packages, by far, for personal accounts are Intuit's Quicken and MS Money. My personal preference for PERSONAL accounts is the former, but I think they've withdrawn from the UK market now. That leaves MS Money as the obvious choice.

But be warned, this type of software is only worth using if you actually bother to keep it up to date, i.e. if you have the self-will to enter transactions. If you do, you can track multiple bank accounts, investments, shares (and portfolios), property, home inventory, mortgages, loans, and so on. But if you allow yourself to get behind, you might as well not bother. In other words, personally, I don't think they are much help for a disorganised person in organising their accounts as they'll fall into disuse. But, if your finances are such that you need something like this to help keep track, they can be very useful indeed.

I also seem to remember different banks support difference packages, meaning that the choice of software may be determined (or at least heavily influenced) by your choice of bank, or vice versa.

But even without direct updating from your bank, this type of software can help keep track of finances, and you just manually reconcile from bank statement to software regularly.
 
Thanks Sequoia, appreciate the detailed reply, im only looking really to mange basic ingoings/outgoings - I am a very organised person, which is one of the reasons I would like to manage my finances at a level of I know whats what. I dont think I would go for the auto-sync with bank to ne honest.

I will perhaps use that excel spreadsheet that cheets posted earlier, failing that I will just create one myself.

Again, thanks for the replies. :)
 
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