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Budget Management Tools

Posted on 10/16/12 at 3:11 pm
Posted by RickAstley
Reno, Nevada
Member since May 2011
2169 posts
Posted on 10/16/12 at 3:11 pm
What does the board use to manage their yearly, monthly, weekly, etc... budget?

I have an excel spreadsheet that I track all of my income/expenses/investments with currently that has been a constant work in progress since I created it. My goal at some point is to make some quantitative analysis out of it for researching what areas I need to focus my funds on. I like the route I have taken so far, but it doesn't make for the easiest spending tracking device.
Posted by GoCrazyAuburn
Member since Feb 2010
41362 posts
Posted on 10/16/12 at 3:14 pm to
Mint.com app is very useful.

I have an excel sheet as well, but Mint is awesome.
Posted by OnTheBrink
TN
Member since Mar 2012
5428 posts
Posted on 10/16/12 at 3:16 pm to
I have a spreadsheet as well.

I also signed up for Mint because of this board but I just don't use it as much. :letthestoningbegin:
Posted by ZereauxSum
Lot 23E
Member since Nov 2008
10176 posts
Posted on 10/16/12 at 3:18 pm to
quote:

excel spreadsheet
Posted by RickAstley
Reno, Nevada
Member since May 2011
2169 posts
Posted on 10/16/12 at 3:28 pm to
Honestly, I would be more than happy to stick to my spreadsheet if it is not going to be too much of a hassle down the road.

I want to spend some time investigating the tools that are available in case what I am currently doing is no longer going to be manageable. Another thing I want to gather from other budgeting tools is ideas regarding data analysis that would enhance my current spreadsheet.
Posted by TheDiesel
Phoenix
Member since Feb 2010
2608 posts
Posted on 10/16/12 at 3:34 pm to
I use Quicken. Granted you have to pay for it, but it serves it's purpose for me. I'm not a power user or anything though
Posted by jmtigers
1826.71 miles from USC
Member since Sep 2003
4992 posts
Posted on 10/16/12 at 3:35 pm to
also dont forget to at least look at yodlee. Yodlee wrote the software that is the engine to mint, but they also have two front ends of their own. I prefer the older yodlee version. I use it for everyday budgeting and I use my own custom excell spreadsheet for tracking my big picture, net worth etc..
Posted by CoolHand
Member since Dec 2011
2113 posts
Posted on 10/16/12 at 3:36 pm to
quote:

I want to spend some time investigating the tools that are available in case what I am currently doing is no longer going to be manageable.

I don't see how things could get so complicated that you couldn't intuitively manage with an Excel spreadsheet.
quote:

Another thing I want to gather from other budgeting tools is ideas regarding data analysis that would enhance my current spreadsheet.

I can understand this.
Posted by ZereauxSum
Lot 23E
Member since Nov 2008
10176 posts
Posted on 10/16/12 at 3:52 pm to
IMO, the main thing that you need from an analytical perspective is the ability to categorize your expenses. Mint does a great job of this. You can also do this in excel if ypu are pretty handy with it.
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 10/16/12 at 4:11 pm to
Mint.com sounds like the exact thing the OP wants.

It even has an app that compiles spending and saving data.

Sign up and use it. Most people who don't like it, gave up pretty fast and didn't set up rules.
Posted by RickAstley
Reno, Nevada
Member since May 2011
2169 posts
Posted on 10/16/12 at 4:11 pm to
quote:

I don't see how things could get so complicated that you couldn't intuitively manage with an Excel spreadsheet.


Currently what I am tracking in my spreadsheet is perfectly manageable. Maintaining a sustainable long term approach is what I am after. Although my spreadsheet services me well as I start my career, will I be able to reiterate that statement five years from now? I can only hope
Posted by jso0003
Member since Jun 2009
5170 posts
Posted on 10/16/12 at 11:25 pm to
Love my spreadsheet, and even better I have automatic web queries setup to pull as much relevant data as I can straight into it.

Whatever service you use whether it be a spreadsheet or a service like mint.com make sure you take the time to understand what the inputs are and what is going to best suit the specific tool you're using.

Garbage in = garbage out.
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 10/17/12 at 9:00 am to
quote:

Whatever service you use whether it be a spreadsheet or a service like mint.com make sure you take the time to understand what the inputs are and what is going to best suit the specific tool you're using.

Garbage in = garbage out.


This x 10000000000
Posted by RickAstley
Reno, Nevada
Member since May 2011
2169 posts
Posted on 10/17/12 at 10:31 am to
What would you consider garbage inputs? I have had no problem separating out my fixed income and expenses. The hardest part has been categorizing variable expenses. If this is what you are referring to as garbage, I could understand because I have renamed several fields through the combining or removing of categories under my variable expense grouping.
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