This is a re-post of a previous piece of mine. I plan to run it a few times the next few weeks as a reminder to all to get those budgets done. ;-)
I'm well aware that the end/first of the year is the time that many people review last year's budget, develop new budgets for the next year, or start a budget for the first time. As such, I wanted to offer some links and resources on budgeting in this post. First of all, here are the links:
Now for some resources. In the past, I've suggested that a viable budget tracking set-up could involve a combination of Quicken or Money and You Need a Budget (for more details see The Benefits of You Need a Budget and YNAB Question of the Month: How Does it Compare to Quicken and Microsoft Money?) and this is close to what I personally use (I use Quicken plus my own self-created spreadsheet).
That said, I've asked readers what they think about using Mvelopes as a budgeting option, and I've received very favorable responses. As such, I've been recommending Mvelopes for those who want an electronic version of the envelope budgeting system. Here are some links to help you consider their service:
Have you, or any of your readers, heard of MiOddit? I think it's like Mvelopes, but it's free. The website (http://www.mioddit.com/default.aspx) says "it's a free personal financial manager that learns and adapts so that tracking your spending is effortless. You can upload your bank and credit card transactions, categorize them, and get a breakdown of where your money is going." This sounds wonderful, but I'm concerned about uploading my bank info(although I do almost all of my bill paying online, anyway!). I guess the difference is, I know who my bank is and I don't know who this is. If anyone has any info, I'd appreciate it. Thanks!
Posted by: Jane Williams | January 08, 2008 at 12:05 PM
Jane --
I haven't, but I'm leery of anything where you have to submit your financial details online (even mvelopes.) I'm just not comfortable with someone who I know nothing about having access to my data. That's why I prefer software like Quicken or YNAB.
Posted by: FMF | January 08, 2008 at 12:50 PM
You guys should check out geezeo. It's a great site to manage all your finances not just your checking/savings accounts, but also your brokerage, mortgage accounts and more. AND it has awesome budgeting tools that keep you on track. Best of all, its FREE!
Posted by: kwu10 | January 08, 2008 at 01:55 PM
I've been using GnuCash for several years now and like it. It uses more of a traditional accounting format but I find it easy to use. It's free and available for both linux (which I use) and windows. There is a very active mailing discussion list and extensive online forum. I find more help here than with Quicken, which I used to use.
I have found the "reports" confusing to use, but think that it is because I am still not used to regular accounting terminology.
Posted by: Steve J | January 08, 2008 at 11:03 PM