FYI UF Money Thread

Domon

Robotic Dexter
May 19, 2011
50,150
30,536
1,073
Marklar
₥54,428
Ok. How do ya'll manage your money? I've been a mint user since forever, but I really just use it as a glorified accounting sheet that i check when something seems wrong, im not actively tracking anything with it.

Since i just raped my savings buying a van, i gotta figure out a better system.

I signed up for YNAB, but it seems like its more for people that are living paycheck to paycheck or have variable incomes. I think i can make it work for a more stable situation, but its very "manual"
 
I like Mint. It makes it easy to see all my accounts on one screen and where my money is. I don't necessarily use it to budget because I've got that in my head. Most of my payments are routine, so I know how much I'll be paying out, what I'll have left over and how much I can save that month. Certain months I pay out much more because of paying car insurance annually, vehicle registration, $X for christmas etc.
 
This is weird. I was just thinking of asking this very same question today. I use Mint as well, and it's good for tracking the essentials. I actually bought YNAB a year ago, but never installed it or used it.

I used to use Quicken but it proved to be really complicated and I stopped as I couldn't get it to properly reconcile my mortgage payments, but that's 100% a lack of knowledge on my part. But, attempts to get the answer to that were not easily found even after days of searching.
 
in wrestling through YNAB, i think im slowly starting to get it. Its not an overall financial manager. In fact, it gets confused when you add more than one bank account.

Its an income tracker. Only apply it to your monthly income, and what happens to that income. If part of your monthly income is sending 500 bucks off to savings, thats a "goal" in YNAB, and it doesnt even need to know that that 500 went off to another account, just that you met your goal
 
I used MS Money from about 1998 until 2007 (or whenever my iPaq windows CE device bit the bucket), then Quicken Mac 2007 until earlier this year, and now am on Quicken Mac 2017.

I'm not sure how much help that is, but it honestly took Quicken a whole decade to achieve feature parity with it's 2007 product on the Macintosh.
 
Without going into a lot of detail, I use an investment company who manages most of my wealth for the past few years. They've done very well with other family members and their fees are very reasonable so I don't see a reason to do it myself. In fact the investment manager is coming up here to visit his son at college in the city nearby. So he'll meet up with me for an annual review.

I did this year open up a SimpleIRA account (through a business colleague who is a financial advisor) to start taking advantage of reducing my tax liabilities for my business and myself (nearly $15k which is nice). So I'll have two separate investment accounts when I retire.

I've also throw around the idea of opening a small investment account with discretionary money that I would manage, investing into an index fund or something.
 
  • Gravy
Reactions: Amstel and Jehannum
Without going into a lot of detail, I use an investment company who manages most of my wealth for the past few years. They've done very well with other family members and their fees are very reasonable so I don't see a reason to do it myself. In fact the investment manager is coming up here to visit his son at college in the city nearby. So he'll meet up with me for an annual review.

I did this year open up a SimpleIRA account (through a business colleague who is a financial advisor) to start taking advantage of reducing my tax liabilities for my business and myself (nearly $15k which is nice). So I'll have two separate investment accounts when I retire.

I've also throw around the idea of opening a small investment account with discretionary money that I would manage, investing into an index fund or something.
Yeah, I forgot about that. I have had a financial manager since 1998, when I started managing my money myself. He's taken care of my 401(k)/IRA rollovers, my kids' 529s, and my own college fund left for me by my grandfather.
 
Without going into a lot of detail, I use an investment company who manages most of my wealth for the past few years. They've done very well with other family members and their fees are very reasonable so I don't see a reason to do it myself. In fact the investment manager is coming up here to visit his son at college in the city nearby. So he'll meet up with me for an annual review.

I did this year open up a SimpleIRA account (through a business colleague who is a financial advisor) to start taking advantage of reducing my tax liabilities for my business and myself (nearly $15k which is nice). So I'll have two separate investment accounts when I retire.

I've also throw around the idea of opening a small investment account with discretionary money that I would manage, investing into an index fund or something.
Oops you were looking for personal accounting software or system. Nevermind my comments!
 
I don't use anything. Once a month, I sit down for about an hour to go through and pay my business and personal bills.

Yep.

I know what my fixed expenses are each month, and the estimates for things like gas/electric/food.

And I know my budget for other shit like buying a new tool, or something.

Everything else goes into savings.

We have a fixed amount my that goes into savings each month as well.

I keep track in an excel spreadsheet.
 
  • Gravy
Reactions: strawberry love
I don't use anything. Once a month, I sit down for about an hour to go through and pay my business and personal bills.

sure, as we all do.

The question is how are expenses outside of those handled (and adjusted as needed). Its really easy to say income - cell phone - electricity - mortgage - internet. If that equals zero... well, you're probably in trouble, but at least its easy to manage.
 
sure, as we all do.

The question is how are expenses outside of those handled (and adjusted as needed). Its really easy to say income - cell phone - electricity - mortgage - internet. If that equals zero... well, you're probably in trouble, but at least its easy to manage.
Quicken has a set of really annoying alerts if you start blowing money on things.

I have to pat it on the head and let it know that I do know how much I'm spending on idiotic old cars.
 
  • Gravy
Reactions: Josh
sure, as we all do.

The question is how are expenses outside of those handled (and adjusted as needed). Its really easy to say income - cell phone - electricity - mortgage - internet. If that equals zero... well, you're probably in trouble, but at least its easy to manage.
Expenses like what? I don't follow.