What to you use to track your finances?

[couchpotato]

1 hour ago, Lacessit said:

IME people who keep track of what they are doing stay solvent all their lives. It's the ones who live from paycheck to paycheck who end up dead broke.

Fussbudgets like me arrive at airports a couple of hours early, to allow for contingencies. We check the oil level and tire pressures on our vehicles every week.

We're the ones who are unstressed. We are never at an airport counter pleading to be let on a flight when boarding has closed, or stranded by the roadside.

And how does all this relate to using a spreadsheet for finances.

[VocalNeal]

I don't track. Like the Soviet Union or China, I have a 5-year plan. After the 5 years is up I'll have a look. Since I don't get anything from the bank, anything I get after 5 years is a bonus.

[Lacessit]

36 minutes ago, couchpotato said:

And how does all this relate to using a spreadsheet for finances.

The purpose of using a spreadsheet for finances is to keep track of them. The extra comment was to illustrate what careful people do.

You have already indicated you don't understand why people use such tools. I am wondering why you would want it explained, when it is obvious from your post you have no intention of applying such disciplines to yourself.

[JimTripper]

2 hours ago, couchpotato said:

Just curious why people want to track every cent/baht they spend. Seems counter productive having a program/spreadsheet to do this, but each to their own I guess.

It usually means they are using credit and/or have loans so can't easily see what's going out of the account. Or, they are needing to project into the future what they can afford, for example with an annual lease.

 

With a flat account with no holes a zero balance IS your tracking. What that would mean is you need to decrease spending.

Edited November 26, 2023 by JimTripper

[couchpotato]

10 minutes ago, JimTripper said:

It usually means they are using credit and/or have loans so can't easily see what's going out of the account. Or, they are needing to project into the future what they can afford, for example with an annual lease.

 

With a flat account with no holes a zero balance IS your tracking. What that would mean is you need to decrease spending.

Ok a good answer, unlike some others..thanks

[rhodie]

I use https://play.google.com/store/apps/details?id=com.realbyteapps.moneymanagerfree&hl=en&gl=US

 

Works well.

[Stocky]

18 hours ago, Moonlover said:

I'm still using the original MS Money, bought on CD in the UK in 2001. It runs perfectly well on Windows 11.

Likewise, but buying a new laptop here, the MS Money CD was in the UK, that was when I discovered, whilst Microsoft had discontinued MS Money, Microsoft had made a final version, MS Money Plus Sunset Edition, available for free. 

[bignok]

2 hours ago, Lacessit said:

IME people who keep track of what they are doing stay solvent all their lives. It's the ones who live from paycheck to paycheck who end up dead broke.

Fussbudgets like me arrive at airports a couple of hours early, to allow for contingencies. We check the oil level and tire pressures on our vehicles every week.

We're the ones who are unstressed. We are never at an airport counter pleading to be let on a flight when boarding has closed, or stranded by the roadside.

Put 25% aside every week/month. Spend the rest. Simple formula that works.

 

It does t matter what the 75% goes on. Hookers, beer or vegetables. Its not coming back.

[Stocky]

 It always surprises me when people say they don't keep track of their finances.

[biervoormij]

2 hours ago, ChaiyaTH said:

One earns too little if needing to track personal expenses IMHO. You simply know what you earn or average earn and then you can set a budget that should pay all bills, goes to investing / saving, and the rest is history.

 

Sleeping alone already costs us 1/3rd of life in total, why on earth would one waste time on this. If feeling the need to track things, it should be time, people would be shocked.

For me it is more about tracking my finances than the specific details of my spending. I started using quicken to save me time and feel it has done that over the years. It took less time to sit down at the end of the month with my pile of papers and enter them into a program and let it do all the simple math and verify that it balanced with my bank statement.  I could have done that with paper and pen but it would have taken longer. I could have also just trusted the bank to get things correct but was taught as a child you should balance your accounts monthly.

 

I later did this with a credit card account and a few times caught false charges.

 

I also track my investments and like being able to see the return or loss by just updating the current prices.

 

You may be correct in that I earn to little but watching my finances got to a point in my life that I don't have to work. I feel it has been time well spent.

 

 

 

 

[Lacessit]

27 minutes ago, bignok said:

Put 25% aside every week/month. Spend the rest. Simple formula that works.

 

It does t matter what the 75% goes on. Hookers, beer or vegetables. Its not coming back.

It's a simple formula, agreed.

I wonder if it works as well when one gets an STD from a hooker, or becomes dependent on alcohol.

[bignok]

2 minutes ago, Lacessit said:

It's a simple formula, agreed.

I wonder if it works as well when one gets an STD from a hooker, or becomes dependent on alcohol.

Get money put aside. Use condoms.

 

I get sick of beer after a few. Im surprised people get addicted.

[Lacessit]

1 minute ago, bignok said:

Get money put aside. Use condoms.

 

I get sick of beer after a few. Im surprised people get addicted.

I'd say there are a lot more destitute alcoholics than wealthy ones.

[bignok]

7 minutes ago, Lacessit said:

I'd say there are a lot more destitute alcoholics than wealthy ones.

Rich take cocaine and other stuff

[Lacessit]

Just now, bignok said:

Rich take cocaine and other stuff

Until they are no longer rich.

[bignok]

4 minutes ago, Lacessit said:

Until they are no longer rich.

Eat curry and rice

[Lacessit]

2 hours ago, bignok said:

Eat curry and rice

Aren't you the guy that lambasts everyone else for going off topic?

[bignok]

20 minutes ago, Lacessit said:

Aren't you the guy that lambasts everyone else for going off topic?

How this that off topic? You starting ranting about drugs and alcohol 555

[Lacessit]

25 minutes ago, bignok said:

How this that off topic? You starting ranting about drugs and alcohol 555

Careful, you are stammering. Take a deep breath, and respond coherently.

IIRC I was pointing out alcohol and drugs affect finances. You chose to go completely off the rails with a nonsensical post about curry and rice.

[Lacessit]

5 hours ago, VocalNeal said:

I don't track. Like the Soviet Union or China, I have a 5-year plan. After the 5 years is up I'll have a look. Since I don't get anything from the bank, anything I get after 5 years is a bonus.

IIRC  there is not a single 5 year plan of the Soviet Union or China that came out within a bull's roar of the intended targets. Good luck with your approach.

[VocalNeal]

19 minutes ago, Lacessit said:

IIRC  there is not a single 5 year plan of the Soviet Union or China that came out within a bull's roar of the intended targets. Good luck with your approach.

 

That's the plan, I don't have a target.  That way I cannot be disappointed. I also don't have to mither about which if any strategy would be better. 

[Lacessit]

29 minutes ago, VocalNeal said:

 

That's the plan, I don't have a target.  That way I cannot be disappointed. I also don't have to mither about which if any strategy would be better. 

IMO it's difficult to be disappointed with a strategy of always spending less than one earns.

[VocalNeal]

9 minutes ago, Lacessit said:

IMO it's difficult to be disappointed with a strategy of always spending less than one earns.

 

Weirdly that is what is happening to me except I leave the interest to accumulate and use other funds for living.

[Lacessit]

6 hours ago, couchpotato said:

Ok a good answer, unlike some others..thanks

Assuming your post was aimed at me, I won't bother answering your posts again.

[BritManToo]

2 hours ago, Lacessit said:

Careful, you are stammering. Take a deep breath, and respond coherently.

IIRC I was pointing out alcohol and drugs affect finances. You chose to go completely off the rails with a nonsensical post about curry and rice.

At work they used to say 'cocaine is god's way of telling you that you earn too much' 

On the other hand, cannabis and alcohol are so cheap, I can't see myself running out of money no matter how much I consume.

 

My income already exceeds my expenses, and I'm getting an 8.5% increase in April!

 

 

[Lacessit]

1 hour ago, BritManToo said:

At work they used to say 'cocaine is god's way of telling you that you earn too much' 

On the other hand, cannabis and alcohol are so cheap, I can't see myself running out of money no matter how much I consume.

 

My income already exceeds my expenses, and I'm getting an 8.5% increase in April!

 

 

Obviously not a frozen pension victim, like so many of your compatriots here.

 

Never tried cocaine. Not high enough in the management tree. Cannabis only acts as a sedative with me. Kratom is cheap, legal, and effective for me. YMMV.

I have not drunk alcohol for about 8 months, the medication I am on does not combine well. I don't miss it.

If I was to become expensively addicted to anything, it would probably be oral demerol. 100 times more addictive than heroin. i still remember having four wisdom teeth out, and being as high as a kite on the stuff.

[GypsyT]

It's done in a day, once a year; I put money to hi interest CDs, max w interest just below Feds insurance $ 250k.

Renew yearly and open one new if needed. Usually is 'cause I don't spend the whole interest amount.

 

Credit cards (I use only 3) are auto-paid every month in full. Never paid a dime of interest in 50 yrs.

Half in USD, half in Euros.

 

I used to have condos, garages, houses, villas and classic cars as investment. Only one house and cemetery spot in Hawaii left -:)

Life is SO easy and stress free now regarding investments.

 

I gave up buying a place here and just gave $$$ to my lovely gal to pay off 1/2 of Covid time dept. Haven't kicked out yet... Let's see what happens when I pay rest of it.

 

[Pdavies99]

On 11/25/2023 at 5:05 AM, biervoormij said:

I have been using the program quicken for over 30 years. In the past each time I bought a new computer I would buy the latest version of quicken and load my past data in the new version. I think it is time to upgrade my computer but looking at quicken they have gone to a subscription type of service where I would have pay a fee each year to keep using quicken. 

 

Do you use something that keeps track of all your financial accounts in one place and would you recommend it? I am thinking it might be best to convert to using a spreadsheet.

Look at "Money hub" it's possibly the best.

[DFPhuket]

I've been using See Finance for many years and found it very good, but it sounds like you're using a PC and it's for IOS and MacOS only. Unlike many other financial products, it will track easily manage bank and investment accounts in different currencies so my US accounts are in USD, Thai accounts in THB and Singapore accounts in SGD. 

[cracker1]

On the first of each month (like today) I list the following on an XL sheet and compare it with previous balances. It takes me about 15 minutes each month.

• Balances of my nine bank accounts and credit cards. (includes in my home country and here)
• Total value of my share portfolio

I find this a quick and easy process that gives me direction and usually peace of mind.