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Is there a budget app for daily budget? ETA: Found an app
Posted on 5/1/24 at 5:01 pm
Posted on 5/1/24 at 5:01 pm
I have a very good idea of what my disposable income is after I pay all bills, monthly expenses and savings. I am looking for an app that will track your budget on a daily $ amount. I would like to look down and see if I am over budget for the day or under. I have an Excel sheet and have tried that in past but between my cards and my wife's I always forget then it becomes more difficult to track all the transactions after 15 days. Any recommendations?
ETA: Simplifi is the closest thing I could find. No categories, just a large bucket after all expenses/bills. It will break it down to a daily amount.
ETA: Simplifi is the closest thing I could find. No categories, just a large bucket after all expenses/bills. It will break it down to a daily amount.
This post was edited on 5/3/24 at 9:18 am
Posted on 5/1/24 at 6:33 pm to thadcastle
We love the Dave Ramsey Every Dollar app
Posted on 5/1/24 at 8:05 pm to thadcastle
I haven't found a budget app that will do daily very well. Maybe someone here will have some help for you.
What I did was use Mint and I set monthly limits on several categories. For example, I calculated what I spend on lunches for a typical month and put that as a goal. I could log in each day and see what percent I was. It takes a little more effort but it's nice to be able to see that I'm currently on progress to be either under or over my monthly budget. I typically know my discretionary income and know what purchases I can make or if I should wait.
For even more work for yourself, you could set a daily transfer of money from your account to something like a venmo debit card and that would be your daily spending goal. Seems counterintuitive though.
Though, if you are budgeting correctly you would be able to set longer term goals for the month and be able to know where you are day to day.
What I did was use Mint and I set monthly limits on several categories. For example, I calculated what I spend on lunches for a typical month and put that as a goal. I could log in each day and see what percent I was. It takes a little more effort but it's nice to be able to see that I'm currently on progress to be either under or over my monthly budget. I typically know my discretionary income and know what purchases I can make or if I should wait.
For even more work for yourself, you could set a daily transfer of money from your account to something like a venmo debit card and that would be your daily spending goal. Seems counterintuitive though.
Though, if you are budgeting correctly you would be able to set longer term goals for the month and be able to know where you are day to day.
Posted on 5/2/24 at 9:01 am to thadcastle
due to account linking/syncing, that isn't feasible. cash in envelopes would work well.
Posted on 5/2/24 at 9:03 am to thadcastle
duplicate
This post was edited on 5/2/24 at 9:05 am
Posted on 5/2/24 at 10:20 am to Monday
quote:
What I did was use Mint and I set monthly limits on several categories. For example, I calculated what I spend on lunches for a typical month and put that as a goal. I could log in each day and see what percent I was. It takes a little more effort but it's nice to be able to see that I'm currently on progress to be either under or over my monthly budget. I typically know my discretionary income and know what purchases I can make or if I should wait.
See I don't like categories because I feel like spending in different categories fluctuates too much to have a preset monthly amount.
Posted on 5/2/24 at 4:25 pm to thadcastle
quote:
I always forget then it becomes more difficult to track all the transactions after 15 days.
Defeats the point of a daily budget if you don't track it for 15 days.
Posted on 5/2/24 at 5:31 pm to Ostrich
quote:
Defeats the point of a daily budget if you don't track it for 15 days.
That is why I need an app to do it for me and push notifications. Hence the thread.
This post was edited on 5/2/24 at 5:32 pm
Posted on 5/2/24 at 7:39 pm to thadcastle
May I ask the purpose of getting down to a daily level??
I have always tried to budget in a way where money isn't really a thought outside of occasional checkups...checking in daily is just a foreign concept, but I know it works for tons of people.
I have always tried to budget in a way where money isn't really a thought outside of occasional checkups...checking in daily is just a foreign concept, but I know it works for tons of people.
Posted on 5/2/24 at 8:28 pm to Bigdawgb
quote:
May I ask the purpose of getting down to a daily level??
I have an excel sheet where I log my income, every transaction I make daily, and also update daily changes to 401k, investment accounts, etc and overall net worth. I've been doing it for years.
Is it necessary? Probably not. But it is nice to know exactly where every dollar is going, and updating it every night is kinda therapeutic.
This post was edited on 5/2/24 at 8:29 pm
Posted on 5/3/24 at 9:38 am to Ostrich
quote:
I have an excel sheet where I log my income, every transaction I make daily, and also update daily changes to 401k, investment accounts, etc and overall net worth. I've been doing it for years.
Is it necessary? Probably not. But it is nice to know exactly where every dollar is going, and updating it every night is kinda therapeutic.
I have an excel doc that does a lot, but over the years it would be WAY too cumbersome to log every day and every single transaction for wife/I. There are days with many multiple transactions in them across many different cards, etc. We have so many retirement accounts investment accounts etc etc its just way too much to keep up with manually now, so everything is done in Monarch now for me which is way easier.
In the end this excel doc i still use but just cash flow purposes where i track whats going in/coming out of the bank account so i know at any point basically how much money i have in the checking account and if i can sweep money to a HYSA and how much, etc...Every month i just reset and put in incoming and by date and outgoing and by date and then track according to that basically.
This post was edited on 5/3/24 at 9:42 am
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