Hi all,
On the back of my previous post about finding (and keeping) money, I thought I would ask about budgeting.
Did any off you see the budgeting program highlighted on ACA the other night? The program was called Simply Budgets (http://www.simplybudgets.com/). So after looking at the powerpoint presentation at this site I was considering purchasing this product.
Do any of you use this product or know of another that is just as good or for cheaper?
Yes I watched that program too. It looked good didn’t it.
However, when you think about it, there is really no need to buy a budgeting program, all you need is a simple spreadsheet and the determination to record your spending habits. Once you get some records there, you will be able to see where all your money is going and then decide where you can cut back.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes, but it has lots of pretty graphs [tongue]
I have (and currently am) using the spreadsheet method. I find it very awkward and cumbersome. The pic that I have seen of this program looked easy and slick.
Still haven’t made up my mind tho [weird]
I bought a copy a few years back when it first appeared on ACA.
I began to input my data and soon found that it was not so good for self-employed.
If you have a basic job with regular pay and expenses and your young just starting out with few expenses, it would be great.Take this example. Just starting out, bought a house, filled it up with goodies, bought a car, want a holiday, buy your food, pay a few bills. It can add all that up for you – no problems.
It also takes into account that in 10 years you will need a new washing machine, the car will need new tires, repairs, and replacement – and so sets aside a portion of these future hidden expenses from your weekly pay today. It shows you are really below water at the start, and you need to cut back now to keep above water.If you’ve got dicipline, you wouldnt need it. If you really wanted to be a total control freak, it could be useful.
Terry has a good point. All you really need to know is where your cash flows so you can take control. You should be able to do this on a simple spreadsheet. Having the discipline to stick to the budget and make records is the key thing.
Good Luck
Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
Noel WHITTAKER has a good one on his site..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHaving a budget is one thing, but as others have mentioned here keeping a record or track of all your incoming and outgoings is critical. I use Quicken to keep track of our household budget, all our investment accounts and investment property transactions. You needn’t be as sophisticated as this; but the Simply Budgets program sounds just the trick.
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