Right Christmas has been and left a hangover and a rather large dent in my personal savings. In fact I am exactly where I was last year.
Its about time I took life, or should I say money, a little more seriously and actually tracked what I spend in order to save a bit more.
Can anyone recommend a good program?
ibank looks ok, cha-ching looks pretty, moneydance looks like it was hit by an ugly stick.
Personal Finance.
Over the years, I've heard of far fewer problems with Moneydance than with most other financial apps. Of late, Quicken, for example, has been trashing folks' desktop files with an upgrade. 
Maybe if the financial app looks ugly, the thought of spending money will have less allure?
BTW, through the macsantadeals.com website, you can get 10% off Moneydance through the end of the year.
Maybe if the financial app looks ugly, the thought of spending money will have less allure?
BTW, through the macsantadeals.com website, you can get 10% off Moneydance through the end of the year.
I can recommend Moneydance, too. When I moved to the Mac about six years ago, I tried the Mac version of Quicken and it was hopeless at importing my 10 years of Quicken data from Windows. Moneydance did it without a twitch, and I've been with it ever since.
I've looked at a couple of other Mac entries, but none so far has tempted me to shift allegiances. So far, no technological hiccups, no lost data, nothing but smooth reliable service. Sure it looks kind of like Quicken circa 1986, but it works for me.
I've looked at a couple of other Mac entries, but none so far has tempted me to shift allegiances. So far, no technological hiccups, no lost data, nothing but smooth reliable service. Sure it looks kind of like Quicken circa 1986, but it works for me.
-
AmberV
- Posts: 24548
- Joined: Sun Jun 18, 2006 4:30 am
- Platform: Mac + Linux
- Location: Ourense, Galiza
- Contact:
I like Checkbook. It is easy for somebody that doesn't really ordinarily keep track of anything, like me! You press Cmd-[minus] when you spend stuff, and Cmd-[plus] when you happen to actually make money. That's it. It has little graph reports and such so you can see where everything is going, and you can set up scheduled debits and deposits for those things which always happen predictably.
.:.
Ioa Petra'ka
“Whole sight, or all the rest is desolation.” —John Fowles
Ioa Petra'ka
“Whole sight, or all the rest is desolation.” —John Fowles
-
nadinbrzezinskina
- Posts: 182
- Joined: Wed Nov 14, 2007 10:46 pm
- Platform: Mac + iOS
- Location: san diego
- Contact:
1.- Find out what or where you are spending your money. This means take pen and notepad and WRITE DOWN every cent you spend. Once you know that you spend money on I don't know, coffee, you can start the concept of a budget.
2.- Now that you know WHERE you are spending your money you can start thinking of a budget. DON"t use software in the beginning. Just seat down and write a budget and TRY to stick to it.
3.- Pay yourself first, this means, putting your savings in your account before you spend on anything. Try to save at least 10% a month.
4.- Holidays... yes they can be a pain. BUDGET them in.
5.- Same goes for entertainment.
6.- Same goes for clothes.
7.- If you do give to charity, same thing.
Track what you spend and you will be shocked just how much you can stop spending from your discretionary. Once you make this a habit, you will find yourself not only saving, but with money in the bank at the end of the month. Oh and if you get a raise, use the differential to save for the future or any emergency. Try to continue to live on your previous pay.
No, I am not a financial advisor, but what I learned from having to live on Navy pay.
2.- Now that you know WHERE you are spending your money you can start thinking of a budget. DON"t use software in the beginning. Just seat down and write a budget and TRY to stick to it.
3.- Pay yourself first, this means, putting your savings in your account before you spend on anything. Try to save at least 10% a month.
4.- Holidays... yes they can be a pain. BUDGET them in.
5.- Same goes for entertainment.
6.- Same goes for clothes.
7.- If you do give to charity, same thing.
Track what you spend and you will be shocked just how much you can stop spending from your discretionary. Once you make this a habit, you will find yourself not only saving, but with money in the bank at the end of the month. Oh and if you get a raise, use the differential to save for the future or any emergency. Try to continue to live on your previous pay.
No, I am not a financial advisor, but what I learned from having to live on Navy pay.
The past if prologue...
-
bashosfrogba
- Posts: 123
- Joined: Mon Sep 18, 2006 11:14 am
- Location: New England, Australia
Cashbook or Moneyworks from http://www.cognito.co.nz Very robust and flexible, light on resources, and good at VAT/GST or other goods and services taxes. For those of us outside the US, that's an issue often not adequately addressed.
-
nadinbrzezinskina
- Posts: 182
- Joined: Wed Nov 14, 2007 10:46 pm
- Platform: Mac + iOS
- Location: san diego
- Contact:
As I was thinking about it, I decided to give you a concrete example.
Inflation has been through the roof locally... so I found that my money was not going as far as it used to. I needed to do something about it. So one fine day I sat down and asked "how much am I spending on coffee?"
Ok... I go down to the store to get groceries and they have a coffee shop there. I like their Latte... this is round numbers three dollars... ok that is 18 dollars a week.... I also like to go to the local coffee shop to write... add two more coffees there a day... that is 36... so the grand total is.. fifty four dollars, in fact a tad more, so lets say sixty.
Ok... this is just coffee... after I did the math, I am down to buying a cup of coffee ONCE a week, when we meet for the writing group... hell not even coffee, but either tea, as in iced tea, or English Breakfast tea. This went down from 52 dollars to less than five a week.
That is how you cut down discretionary spending.
Another idea... locally at the Price Club I can buy movie tickets for seven dollar each for the movie theater. When I go to the price club I buy several sets, why? the regular ticket is close to 20... for me and my husband... but we can spend fourteen to buy the tickets, allowing us the luxury of buying a drink at the theater and still keeping this at a reasonable price.
Oh and here is the one that shocks most folks... see that credit card... you know the one... pay it ALWAYS in FULL at the end of the month. If you don't have the money for any item, don't buy it. Massive example, we just replaced our computers... both were paid cash.
But, but... the interest alone is a killer. Do the math... for every moth you don't pay in full you are paying quite a bit of money... anywhere from 14% to 25% APR, depending on the card. Ugly secret, they try to make you pay over twenty years, anything, which means you pay for your stuff in interests two to three times the original price, if you just pay the minimum. So pay them down, as fast as you can, and don't buy things unless you can pay at the end of the month.
Will it put a crimp on your current lifestyle? Perhaps... but I sleep at night and we have savings in the bank.
Oh and once you get into these habits, then invest in software if you think you need it.
Inflation has been through the roof locally... so I found that my money was not going as far as it used to. I needed to do something about it. So one fine day I sat down and asked "how much am I spending on coffee?"
Ok... I go down to the store to get groceries and they have a coffee shop there. I like their Latte... this is round numbers three dollars... ok that is 18 dollars a week.... I also like to go to the local coffee shop to write... add two more coffees there a day... that is 36... so the grand total is.. fifty four dollars, in fact a tad more, so lets say sixty.
Ok... this is just coffee... after I did the math, I am down to buying a cup of coffee ONCE a week, when we meet for the writing group... hell not even coffee, but either tea, as in iced tea, or English Breakfast tea. This went down from 52 dollars to less than five a week.
That is how you cut down discretionary spending.
Another idea... locally at the Price Club I can buy movie tickets for seven dollar each for the movie theater. When I go to the price club I buy several sets, why? the regular ticket is close to 20... for me and my husband... but we can spend fourteen to buy the tickets, allowing us the luxury of buying a drink at the theater and still keeping this at a reasonable price.
Oh and here is the one that shocks most folks... see that credit card... you know the one... pay it ALWAYS in FULL at the end of the month. If you don't have the money for any item, don't buy it. Massive example, we just replaced our computers... both were paid cash.
But, but... the interest alone is a killer. Do the math... for every moth you don't pay in full you are paying quite a bit of money... anywhere from 14% to 25% APR, depending on the card. Ugly secret, they try to make you pay over twenty years, anything, which means you pay for your stuff in interests two to three times the original price, if you just pay the minimum. So pay them down, as fast as you can, and don't buy things unless you can pay at the end of the month.
Will it put a crimp on your current lifestyle? Perhaps... but I sleep at night and we have savings in the bank.
Oh and once you get into these habits, then invest in software if you think you need it.
The past if prologue...
Ok... this is just coffee... after I did the math, I am down to buying a cup of coffee ONCE a week, when we meet for the writing group... hell not even coffee, but either tea, as in iced tea, or English Breakfast tea. This went down from 52 dollars to less than five a week.
Writers, I think, have to be careful with this one. Not long ago I calculated that I was spending a bunch of money eating lunch out, and if I ate lunch at home I'd save a bundle. So I tried it. I ended up with less money, because I was doing less work. I'd come home, eat lunch, do some laundry, take a nap--you know the syndrome. Now when I really need to get a bunch of writing done, I make sure to set aside some cash for having lunch out. Same goes for coffee and tea--if I didn't buy a lot of these things (as a form of rent), I'd be in trouble.
Basically, now I try to ask: will making this change cause me to spend less? But will it cut into productive writing time?
-
vic-k
- Posts: 7135
- Joined: Fri Apr 27, 2007 8:23 am
- Platform: Mac + Windows
- Location: Protesting in the nude, outside ex Red Lion TESCO Store
Who d` y` bank with`Banco di Cosa Nostra`? 
As a professional, you, are your one and only asset. Without integrity you are worthless, but with it, you are priceless.
-
Jaysen
- Posts: 6305
- Joined: Mon Dec 17, 2007 4:00 am
- Platform: Mac + Windows
- Location: East-Be-Jesus-Nowhere SC, USA
if the bank supports the QIF format I believe that MoneyDance will be able to load the data.
On the theory front I agree with nadinbrzezinski. Where I disagree is on the how. I have managed to gain control by using the software to visualize the expenses in a way that I was unable to do with mere paper. It is invaluable to see the coffee as a significant slice in a pie chart. It was the fact that I had a slice dedicated to coffee that caused me to realize that I needed to contain spending in that area.
What I did was the following.
1) Start entering data from a point I recommend the next statement date as this helps minimize catch up.
2) Set up a cash account in the software (I use quicken H&B on a parallels VM so i can't tell you how to do this).
3) Account for EVERY penny that you spend in cash. Not doing this wastes all your time and effort.
4) every week review your expenses. Review them with the "other" if so equipped. At each weekly review include the last week, the last 2 weeks. the last 4 weeks, the last quarter and the last 6 months.
5) Make #4 a part of your weekly schedule.
6) remember #5.
My experience is that budgets are mandatory, but if you don't know where you are spending you can't make one. I found that my budget created itself in the course of 6 months. After that we have had to make small adjustments due to cost changes.
YMMV, but this is what I had to do.
BTW, I traded a number of things to maintain my coffee habit. It is still a dedicated slice of my pie. Make sure your budget leaves room for enjoyment or you won't stick to it.
Jaysen
On the theory front I agree with nadinbrzezinski. Where I disagree is on the how. I have managed to gain control by using the software to visualize the expenses in a way that I was unable to do with mere paper. It is invaluable to see the coffee as a significant slice in a pie chart. It was the fact that I had a slice dedicated to coffee that caused me to realize that I needed to contain spending in that area.
What I did was the following.
1) Start entering data from a point I recommend the next statement date as this helps minimize catch up.
2) Set up a cash account in the software (I use quicken H&B on a parallels VM so i can't tell you how to do this).
3) Account for EVERY penny that you spend in cash. Not doing this wastes all your time and effort.
4) every week review your expenses. Review them with the "other" if so equipped. At each weekly review include the last week, the last 2 weeks. the last 4 weeks, the last quarter and the last 6 months.
5) Make #4 a part of your weekly schedule.
6) remember #5.
My experience is that budgets are mandatory, but if you don't know where you are spending you can't make one. I found that my budget created itself in the course of 6 months. After that we have had to make small adjustments due to cost changes.
YMMV, but this is what I had to do.
BTW, I traded a number of things to maintain my coffee habit. It is still a dedicated slice of my pie. Make sure your budget leaves room for enjoyment or you won't stick to it.
Jaysen
-
vic-k
- Posts: 7135
- Joined: Fri Apr 27, 2007 8:23 am
- Platform: Mac + Windows
- Location: Protesting in the nude, outside ex Red Lion TESCO Store
I aint got no money, so I don`t know why I`m posting this
vic
PS A Prosperous New Year To All
vic
PS A Prosperous New Year To All
As a professional, you, are your one and only asset. Without integrity you are worthless, but with it, you are priceless.
Has everybody tried Buddi? It seems modern and effective to me:
http://buddi.thecave.homeunix.org
Paolo
http://buddi.thecave.homeunix.org
Paolo
Does anyone use Gnucash?
I love it very much, even with the pain of installing it on my mac (though with 10.5 it became easier, just time-consuming).
I've tried iBank and recently Moneydance, and though Moneydance works quite well, I miss the simplicity of Gnucash. Moneydance makes nice graphs and charts though
Anybody else looking at financial programs with the holidays and recession and all?
cheers,
Tanja
I love it very much, even with the pain of installing it on my mac (though with 10.5 it became easier, just time-consuming).
I've tried iBank and recently Moneydance, and though Moneydance works quite well, I miss the simplicity of Gnucash. Moneydance makes nice graphs and charts though
Anybody else looking at financial programs with the holidays and recession and all?
cheers,
Tanja