Budget Software recommendations

[DMickey28]

I need some budget software. I have Quicken but it's just too complicated for me! I looked at MS Money but it looks the same.

we are in the process of buying our first house and since we have all our financial garbage front and center in our life right now I figure it's the perfect time to get a REAL budget going and track our financial life for real.

I have an excel spreedsheet that I used the last few years but it's very basic, just credit and debit type things.

What type of software do you use to track your normal financial life? I don't need anything that gets into investments or anything like that. Just income, bills, debt and a monthly budget sheet to help track that misc. spending that seem to wipe us out every few months!

Thanks!

 

[Joyful3Heart]

I use Quicken Deluxe. I was a dedicated pen and paper girl until I missed a bill last summer . I decided that with three children, I was just spread too thin to remember everything. I tried MS Money because it came with my computer, but I thought it was too complicated. I then tried Quicken. It took me about 2 -3 hours to plug in all my accounts and numbers and about a month spent tweaking everything (i.e. what bills do I want set as recurrent, when do I want reminded of each bill etc.). I have been using it for a year now and I would never go back to pen and paper only. I still use a physical checkbook and check register to keep track day to day, but plug all my numbers into quicken once a week and let quicken do the math. I download all the bank and credit card info directly from those institutions and am able to keep track of my spending much better, which is a big plus . I do not have my or my husbands investment portfolio tracked in the software, that is just one of the options you can use or not use at your own discretion. Good luck!

 

[Karenj2]

First of all - congrats on #2! We're just a few weeks apart!!

What I've used for the last year and a half and LOVE (you can look for all my posts on this) is YNAB Pro (www.youneedabudget.com). It's a program you purchase once, and the methodology behind the program (the 4 "rules" that the program is based on) have helped us save LOTS of $$.

The rules are:

• Rule One: Stop Living Paycheck to Paycheck - Basically, you save up a "buffer" that equals one month's expenses, then once you've gotten that, you live off that for a month, which then allows you to designate THIS month's income for NEXT month's budget. (This is great for people with varied income, and it works regardless of whether you get paid weekly, bi-weekly, monthly or whatever...)
• Rule Two: Give Every Dollar a Job - Account for EVERY penny. (This is important no matter what program you end up using. Some $ will go towards fixed cost bills, some will go towards varied expenses, and some will be earmarked for future expenses (See #3)
• Rule Three: Save for a Rainy Day - If you know you're HOA is quarterly, or your car insurance is annual, then instead of panicking the month it's due, save a little bit each month. PLUS, set aside money for the unexpected things, like car/home repairs... It's a lot easier to set aside a little bit each month until the "unexpected" happens, so that even if it doesn't cover the whole amount, it's less of a shock.
• Rule Four: Roll with the Punches - There are going to be times when you spend more in a given month than what you've allocated for that particular category. You don't have to start the next month with a negative amount in that budget category, but you still need to acknowledge that you overspent. So, YNAB deducts that amount from your OVERALL available money to budget for the next month. (This rule has saved me quite a few times.)

Beyond the "rules", the program itself is easy to use: In the Transactions tab you input your expenses and categorize them into different budget categories (you can import information from banking institutions or enter them manually). The Budget tab is where you enter your budget information (your estimated expenses) and the Transactions pull over as your actual expenses. There's also a great forum (much like this one) that has people willing and able to help you out if you get stuck...

When we started budgeting in ernest, we were able to live off of my salary plus my hubby's base salary. This has enabled us to set aside any "extra" money (DH's commission, two of my paychecks since I get 26 paychecks, and any additional income) into our various accounts - EF, vacation $$, our "big ticket items fund, etc., PLUS I now set aside approximately 1 of my paychecks into our EF as well. (We used to be living not completely, but almost paycheck to paycheck.)

Anyway, I'll stop "plugging" YNAB. It's a great program, but there are others out there too.

 

[DMickey28]

Thanks Karen - I'll check that out. Congrats on your baby!! I can't wait just to get out of the first trimester. It has been an emotional roller coaster.

We don't live paycheck to paycheck but we boarder on living Month to month. I need to allocate those extra dollars ... some months it's more than others but if they don't have a home I usually find them a retail home and that's not cool!

 

[Karenj2]

This is my first pregnancy after 11 years of TTC (got PG through in-vitro), so I completely understand holding my breath... I was afraid to tell anyone until after 12 weeks, but I was so overjoyed at finally GETTING pregnant that I couldn't wait.

My OB said that, after they hear the heartbeat, the chances of a miscarriage is 1%. (which only mildly reassures me, since I know of a few people that have had later miscarriages, but I'm trying to be hopeful.)

Anyway, that has nothing to do with budgeting software, sorry I got OT.

The best way to save money is to AVOID RETAIL STORES!! About the only shopping I do is grocery shopping, and occasionally go to a book store. Luckily all of the "good" stores (and malls) are nowhere near me, and my commute is an 8 mile drive, so I'm not tempted by stores as I head home...

 

[newtodcl]

I also endorse YNAB. We are fortunate that I can be a SAHM instead of an engineer for a few years and we have only a mortgage debt, but it is still a wonderful tool to see just where the most money is spent! I also find it liberating to see the "extra dollars" getting assigned to the vacation fund and the 529 funds and just knowing where every $$$ is going

http://cashmoneylife.com/deals/save-10-on-ynab-and-ynab-pro-3-days-only/

This link has a coupon code for the software....my husband also loves it.

 

[EWL]

Yep, can't say enough about YNAB. After struggling with Quicken, I'll never go back. YNAB is a great companion to the Dave Ramsey plan!

 

[CowboyCO]

I recommend QuickenOnline. It's free - very simple and has good budgeting. It has helped us tremendously, plus I like that I can access it anywhere there's an internet connection.