Author Topic: You Need a Budget -Software  (Read 9935 times)

joerice01

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You Need a Budget -Software
« on: February 17, 2012, 10:43:59 PM »
Hello,

Just wondering if any one has used the software YNAB (You Need a Budget).
I just downloaded the 30-day trial but haven't really got into it yet.
Could any one offer some advice if this will work or is practical?

http://www.youneedabudget.com/


Cheers
« Last Edit: February 17, 2012, 10:45:31 PM by joerice01 »

arebelspy

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Re: You Need a Budget -Software
« Reply #1 on: February 18, 2012, 10:50:03 AM »
Haven't used it myself, but I have heard lots of good things.

I use Mint, which is all I need personally.

Try it out yourself for the 30-day trial and see if it's worth it for you.
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Stubbleman

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Re: You Need a Budget -Software
« Reply #2 on: February 18, 2012, 02:35:18 PM »
We've been using it the past month.  It has helped curtail our spending on frivolities.  We are using it to help reset our spending habits.  It does take some getting used to, as things don't function quite how you would expect. 

I used the free trial to import data from the prior month, look at what we spent and then set a budget for the current month.  As the new habits non-spending set in I'm sure it will fall into disuse, but for now it is helping shine a light on areas where we were spending money that don't provide much value. 


Moneyisntlove

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Re: You Need a Budget -Software
« Reply #3 on: February 18, 2012, 03:12:20 PM »
We use the portfolio program you can access through Bank of America.  YOu can set it up to automatically put in your credit card purchases, and sort them into categories and then it makes very neat little graphs -- which are inspiring!

joerice01

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Re: You Need a Budget -Software
« Reply #4 on: February 18, 2012, 10:16:37 PM »
Im in New Zealand and iv'e got the same thing called track my spending. But that's all it does. I really need a way to save for my up coming bills and such, not just see what i have spent.

steggy81

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Re: You Need a Budget -Software
« Reply #5 on: March 06, 2012, 09:05:05 AM »
I've used the software for a little over a year now.  I still haven't figured out all functionality, including adding my credit card to it, but so far so good.  I like this software much more than Mint and other similar programs that mainly provide you a snapshot of where you are spending money.  YNAB is different in that you have to manually input information which makes you get involved in your finances.  No other program has helped me so much.  They also have a Droid app which I highly recommend.  You can keep track on the go.  Not sure if any of this information helps you but I've sucessfully paid off a high balance credit card using the YNAB methods and have cash in the bank with a plan for the future.  I'm in a much better place.  I highly recommend and suggest you purchase if you have a hard time budgeting.

C40

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Re: You Need a Budget -Software
« Reply #6 on: March 07, 2012, 07:35:52 PM »
Yes, you need a budget. No, you don't need to pay money to make a budget.

Use Excel. It will work better than his version because you can modify it infinitely. If you don't have Excel or cheap access to it, use something similar (open office, google docs, etc.)

Not good at using Excel? Get good. It's worth it. It is so widely used that you'll be able to find free guides all over the internet. You'll also be able to find an answer to 99.9% of your excel questions within 10 minutes on the internet.

Daley

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Re: You Need a Budget -Software
« Reply #7 on: March 07, 2012, 07:54:38 PM »
Yes, you need a budget. No, you don't need to pay money to make a budget.

Use Excel. It will work better than his version because you can modify it infinitely. If you don't have Excel or cheap access to it, use something similar (open office, google docs, etc.)

Not good at using Excel? Get good. It's worth it. It is so widely used that you'll be able to find free guides all over the internet. You'll also be able to find an answer to 99.9% of your excel questions within 10 minutes on the internet.

QFT. Alternately, LibreOffice as OpenOffice has hit a dead end development wise since the Oracle spat and subsequent community fork over a year and a half ago.

For those of you who just want dedicated budget software anyway, but don't want to use an online resource like Mint, and don't want to spend money on YNAB or Quicken, there's Homebank and GnuCash. Both programs support CSV, QIF and OFX file formats from your local financial institutions, and have binaries available for Windows, OSX, and Linux.

Free/Open Source Software should be any mustachian's first stop for any specific software needs. There's no shame in buying commercial software if the OSS option can't fit your needs, but how will you know unless you try first?

C40

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Re: You Need a Budget -Software
« Reply #8 on: March 07, 2012, 08:51:33 PM »
+1 on GNUcash or Homebank. If you're hesitant to build your own, check these out before buying something.

Also, if you're a google doc's or Mac Numbers kind of person, this thread has one example for each:

http://forum.earlyretirementextreme.com/topic.php?id=279


Grigory

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Re: You Need a Budget -Software
« Reply #9 on: March 07, 2012, 09:01:10 PM »
Yes, you need a budget. No, you don't need to pay money to make a budget.
QFT x2. :) People spend so much time and money (oh the irony) on needlessly fancy tools to track their spending... If they spent half as much time actually learning about personal finance, the world would have been a much better place. The hands-down easiest way to track your spending is to get your latest credit/debit card statement, grab a sharpie and see how much you spend on what. And it's free!

joerice01

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Re: You Need a Budget -Software
« Reply #10 on: March 13, 2012, 02:48:04 PM »
Thanks guys, This has helped alot.
I think im going to try using excel for a while to avoid the cost of buying a program. Can anyone recommend a template?

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Re: You Need a Budget -Software
« Reply #11 on: March 15, 2012, 03:40:24 AM »
   We use YNAB and it has definitely saved us money.  I know there are free options out there, but I am still glad we got YNAB.  A big part of it involves my not so frugal wife.  She is into it, which makes all the difference in the world.  For whatever reason she would not be as into an excel sheet I made. (Plus, I really have no interest in learning how to make excel sheets today.  Maybe next year.)  Also, when we bought it we both promised to use it - after all, we did pay for it.
  I think what works best is to pick something and use it, and YNAB is good.  Not the only option, but worth it for us.
 

herisff

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Re: You Need a Budget -Software
« Reply #12 on: March 15, 2012, 07:14:15 AM »
I agree, use what works best for you. I've tried to do my own spreadsheets, used Quicken for years, tried GnuCash and iBank. Right now I'm using YNAB which is working out great for me. I really like the ability to set up savings accounts when needed (my 1st gen Nook is currently dying a slow death) for transient items.

HumanCalculator

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Re: You Need a Budget -Software
« Reply #13 on: April 01, 2012, 10:13:12 AM »
Been using Gnucash for a year now, great software once you get to know how to use it.

You can get every charts you need from the Reports menu. Just use the customization to tailor to your specific needs.

78Amy

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Re: You Need a Budget -Software
« Reply #14 on: April 11, 2012, 04:52:39 PM »
I've been using YNAB off and on for years and I like it.  If I stuck with it, I'd be in a much better place financially than I am right now.  The best part about YNAB isn't the software itself (which actually started out as an Excel spreadsheet) but the forums.  The YNAB method and MMM way really complement one another.

For super advanced Mustacians, maybe YNAB wouldn't be as much of a benefit.  But for people just getting started, trying to learn to live within their means ... I think it's a great tool.

johnnylighthouse

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Re: You Need a Budget -Software
« Reply #15 on: April 11, 2012, 09:47:31 PM »
Another gnucash user here, definitely worth trying

frugalman

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Re: You Need a Budget -Software
« Reply #16 on: April 12, 2012, 08:10:56 AM »
You need a budget - kind of unMustachian in a way. Having a budget of say $200/mo for dining out - just gives you license to spend $200 a month on dining!  Having a budget of $500/mo for your car - just gives you license to have a shiny new car!

Until you reach financial independence, a true Mustachian would be more apt to track every dollar spent, and think of ways and alternatives to lower or eliminate each and every expense.  For example, we have cut our dining out way back.  We do celebrate modestly dining out for birthdays, anniversaries etc.  We've cut out cable TV, Netflix and Hulu Plus.  We now strictly watch over the air, or regular free Hulu for shows we missed.  And we watch less TV as a result, which is fine by me.

Each and every one of us, even working towards FI, will have some non negotiable items.    For us, golf is non-negotiable, although we try to make it low cost (play executive 9s, have a season pass good at 3 such courses, etc.)