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Anyone here use a budget app?
Posted on 2/11/21 at 2:09 pm
Posted on 2/11/21 at 2:09 pm
I really want to tighten up our budget and increase my investing and I have heard people mention that they have found budget apps really helpful in this regard. Looking for any tips and recommendations. Thanks.
Posted on 2/11/21 at 2:20 pm to mouton
Expenses OK. It’s a manual entry app which makes you even more cognizant of your spending
This post was edited on 2/11/21 at 2:20 pm
Posted on 2/11/21 at 2:26 pm to mouton
Although I don't use it anymore, Mint by Intuit did really well for me for a long time. I've since consolidated accounts so I don't need it, but it did great with linking all accounts and credit cards, categorizing transactions, creating budgets, etc.
Posted on 2/11/21 at 2:29 pm to LSUtigerME
quote:Haven't set up a new account anywhere else and this is what I used to use. Seems like they have changed the interface like 4 times in the past few years and I fall a little behind each time. I find myself getting frustrated with it.
I use Mint
Posted on 2/11/21 at 2:31 pm to mouton
I use Mint to track and Excel to budget. Mint isn't forward looking, so in my mind, it isn't a budgeting tool.
Posted on 2/11/21 at 2:34 pm to mouton
imho:
Best for detailed budgets - YNAB
Really good if you’re trying to get out of debt or save for something.
Best for investments - Personal Capital
Best free - Mint
Best overall - Quicken
Really hard to beat Quicken. Has every feature you could ask for and is what I would recommend to you.
New one I like is Simplifi by Quicken. I like the way they do budgeting (spending plan) as well as the watchlists. Their dev team has been really open to customer feed back and they do monthly updates and fixes. The only investment feature at the moment is account balances, which is fine if all you do is set and forget your retirement savings in index funds.
Best for detailed budgets - YNAB
Really good if you’re trying to get out of debt or save for something.
Best for investments - Personal Capital
Best free - Mint
Best overall - Quicken
Really hard to beat Quicken. Has every feature you could ask for and is what I would recommend to you.
New one I like is Simplifi by Quicken. I like the way they do budgeting (spending plan) as well as the watchlists. Their dev team has been really open to customer feed back and they do monthly updates and fixes. The only investment feature at the moment is account balances, which is fine if all you do is set and forget your retirement savings in index funds.
This post was edited on 2/11/21 at 2:45 pm
Posted on 2/11/21 at 2:57 pm to mouton
I just use an excel workbook for this
Posted on 2/11/21 at 3:01 pm to mouton
Mint but what would really help is a lock account feature for the fam.
Posted on 2/11/21 at 4:00 pm to FinleyStreet
quote:
Mint isn't forward looking, so in my mind, it isn't a budgeting tool.
I’ve heard this rhetoric multiple times from the YNAB crowd, and I don’t understand it. I looked into YNAB but I don’t see what makes it so different than Mint.
Posted on 2/11/21 at 5:28 pm to LSUtigerME
quote:
I’ve heard this rhetoric multiple times from the YNAB crowd, and I don’t understand it
Mint only lets you budget for the month you're in, not the months ahead. When I think of a budget, I'm thinking of a 12 month plan, maybe more. It's not rhetoric if it's true.
Posted on 2/11/21 at 5:55 pm to FinleyStreet
quote:
Mint only lets you budget for the month you're in, not the months ahead. When I think of a budget, I'm thinking of a 12 month plan, maybe more. It's not rhetoric if it's true.
What do you mean by that? As in doesn’t let you budget for some future expense? You can set a goal to save for that.
It allows you to set recurring non-monthly expense. For example, my trash pickup is billed quarterly. I can set that up in the monthly budget to account for it.
I can also set a “rolling budget” for any category. Meaning the remaining amount will roll over to the next month, positive or negative. So if I have enough info, I can average out my expenses for the month or year.
It also allows you to budget to specific categories, and then the general category. For example, “Restaurants” overall, but also individual parts of that, such as “Family Eating Out”, “Work Lunch”, etc.
Does Mint not accomplish this process? What part am I missing that can’t be accounted for? How does YNAB or some other “forward looking” app differ from this?
There’s certainly different ways to approach it, but I don’t see how it’s not “forward looking”.
Posted on 2/11/21 at 5:58 pm to mouton
I tried but it got so annoying have to do the reauthorization every other week and putting the information in the correct place. Was more of a hassle than I wanted
Posted on 2/11/21 at 8:03 pm to LSUtigerME
I've used Mint for years.
My biggest issue with it is that Capital One limits Mint updates to once per day, so there is often a 1-2 day lag with my main bank accounts syncing with Mint.
My biggest issue with it is that Capital One limits Mint updates to once per day, so there is often a 1-2 day lag with my main bank accounts syncing with Mint.
Posted on 2/11/21 at 8:43 pm to LSUtigerME
quote:
What do you mean by that? As in doesn’t let you budget for some future expense? You can set a goal to save for that
I'm familiar with how mint works. I am in Finance/Accounting and put together budgets for a living, so I have a specific idea of what constitutes a good budget, and mint isn't it.
For example, I know I have a big expenditure coming up in April, and I want to know how that affects my overall numbers, but I can't set up the budget for that expenditure until April actually gets here. It only shows me this month and past months. This is not a useful way to approach budgeting for me so I just use Excel. I can see all my projected earnings and expenses in advance for the year in Excel. I can play with the numbers and see how different scenarios may play out. Can't do that in mint.
Posted on 2/11/21 at 9:14 pm to FinleyStreet
Weekly Budget app on Android. Set up a weekly limit and plug it all in as you spend. Also use Monefy for android to keep track of all my accounts. Same deal, plug it in and you're on top of it 24/7
Posted on 2/12/21 at 8:58 am to EarlyCuyler3
Thanks for all the replies. I had downloaded pocketguard before starting this thread but have not really looked into it much. Anyone familiar with it? From the replies here I think I am going to give mint a try. Thanks once again.
Posted on 7/7/21 at 10:52 pm to mouton
I started YNAB about 10 days ago. As crazy as it sounds, I'm already treating my spending as a game. Cut a few corners here and there, because I consciously want to come in under budget in a couple of categories that I know kill me. Eating out and groceries.
Still way too early in the game at less than 2 weeks in, but I can absolutely see that it forces one to prioritize what's important to you and what isn't (gives every dollar a job).
Anyone else using it?
Still way too early in the game at less than 2 weeks in, but I can absolutely see that it forces one to prioritize what's important to you and what isn't (gives every dollar a job).
Anyone else using it?
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