Author Topic: Overwhelmed by budgeting - need feedback  (Read 1010 times)

AppleJack83

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Overwhelmed by budgeting - need feedback
« on: December 17, 2017, 08:50:02 AM »
This is somewhat embarrassing but I am looking for suggestions on how to get start on budgeting. We have kept a decent pretax savings rate (I have saved 30% + 8% match) for as long as I can remember  and have finally maxed my RRSP. I will be reducing my contribution to 15% in January and will further reduce next year (due to a pension deduction, I cannot contribute the full 18%) to contribute the max. The next goal is to max out DH's RRSP remaining contribution limit.

We have reduced all monthly expenses to their lowest, shopped insurances discounts, reduced cell plans, no cable etc.  The part where I am struggling, is I have never actually budgeted the remaining money. I need to get a better picture of where this money is being spent/saved and look for areas to cut. Mint and Personal Capital are not options as they do not support all my financial institutions (my primary bank is not supported). 

What options do you recommend? My only requirements is that it is electronic and syncable across devices. I looked at YNAB (I have the old version from a Steam sale a couple years ago), GnuCash, Homebank, Everydollar, Goodbudget but I don't know where/how  to start.

Rocketman

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Re: Overwhelmed by budgeting - need feedback
« Reply #1 on: December 17, 2017, 09:23:40 AM »
I use YNAB, it you enter the transactions as they happen, the reconciliation doesnít take very long. Yes use an older version of YNAB so it doesnít link to my banks. It takes me about an hour to reconcile and create next months budget if I only do it monthly. (Which includes some analysis).

Good luck

Blackeagle

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Re: Overwhelmed by budgeting - need feedback
« Reply #2 on: December 17, 2017, 08:38:55 PM »
+1 for YNAB.