Personal Finances: Book-keeping

Discussion in 'Full Timers' started by Dafydd, Jun 2, 2015.

  1. Dafydd

    Dafydd Funster

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    Later this year when I've moved into my bus I'll want to be able to keep track of my expenses. I'm budgeting on a fixed annual income, any future earnings will be a bonus.
    There are a lot of different kinds of outgoings: annual recurring, maintenance, travel, accommodation (sites/aires), daily living, bank charges and saving for future costs (new tyres for example) etc... How do full-timers or long-term tourers manage their personal finances, those who make the effort that is?
    Software?
    Manually in some kind of ledger?

    I'm a terrible procrastinator and in my bricks & mortar life operated a system of piles of paper and "if it's in the bank then spend it". But until I manage to generate some additional earnings from a career change (at least a year) I'll have to learn to keep a very close eye on how much I'm spending.

    I'd be interested in any recommended system and general advice based on people's experience
     
  2. Munchie

    Munchie Funster Life Member

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    My manager does all this!

    I am not allowed to go anywhere near money!!!

    Every month she knows our fixed outgoings!

    The sum of which is subtracted from our monthly income.

    Then she keeps a record of what we have left and subtracts all spending from this total!

    Then when I ask "can i get a new camera, computer, bottle of Scotch et al she looks at what we have left then says.......


    NO!!!!
     
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  3. camocam1

    camocam1 Read Only Funster

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    I have set up and used an excel spreadsheet which has all income and fixed outgoings per month for the next 12 months
    I can then add in others like birthdays etc etc and it shows me what spare ( if any) cash I have
     
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  4. rb62

    rb62 Funster

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    Mines the same,all kept up to date on a spreadsheet,found some of the little note books she used to use when we were first married over 40 years ago!
    Mind you it obviously worked as we were able to retire early. (y)(y)
     
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  5. Gromett

    Gromett Funster

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  6. clanjones

    clanjones Funster

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    I have always used something like Quicken for home finances but if you are a Windows user you can download for free from Microsoft (unusual as it sounds for MS!), 'Money Plus Sunset Deluxe'. I have been using it for years with no issues. It is pretty easy to use and has all sorts of capabilities. You can download it from the link below:-

    http://www.microsoft.com/en-us/download/details.aspx?id=20738

    I'll be using it to monitor our outgoings on this new motorhome adventure we are embarking on as well!
     
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  7. Bailey58

    Bailey58 Funster Life Member

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    Since we retired 12 years ago I've kept our personal finances up to date with MS Money. It's a programme from an old MS Works but it keeps track of all our outgoings and bits and bobs of investment income. One small private pension stopped after a year and I may not have noticed for a while without my alerts. Easy enough to set up and half hour or so a month keeps everything up to date.

    Edit: Probably no longer available but superceded by the above if I remember.
     
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  8. clanjones

    clanjones Funster

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    Yep you are right I used to use MS Money until I rebuilt the PC onto Windows 7 and then found Money Plus Sunset Deluxe as MS Money was no longer available as I recall.
     
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  9. Coolbeanz

    Coolbeanz Funster

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    I use Nova expense app, it's a fab easy to use system and you can add any headings you want to suit the categories you need. Didn't take long to learn how to use every feature.
     
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  10. CherryPirate

    CherryPirate Funster

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    I use Acemoney which is available in Windows and Mac versions. There is a free version with limited number of bank accounts (2) or a paid version for $39.99. I have it running on both platforms sharing the current file in the cloud.

    Worth a look I think

    Colin
     
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  11. sedge

    sedge Funster

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    Gosh. We use the Bank statements, either online or the paper ones they send us (being a joint account we get one each every month! I usually ask Pete how much HE has left this month LOL) We only have one, all income and expenditure is done via that account. It earns interest, it's that bank Jessica Ennis is associated with. Fancy getting cashback on the regular bills you can't avoid paying! Marvellous. Bet we are their worst customers ! Never make a penny out of us.
     
  12. sedge

    sedge Funster

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    Oh, PS My very first Bank account was with the Midland, my mom gave me the £1 to open it a few days before I started my first job.

    In the front of the chequebook their were 2 or 3 pages to keep a record. Once I got married I would receive my salary slip, enter the amount and add it to the current balance then squish a list of the monthly outgoings and take that off so I knew to the last £0 0s 1d what was left for the month - and I've basically done exactly the same ever since.

    We paid everything we could monthly by Standing Order (we still do, but Direct debits now!) out of my account, my husband(s) were weekly paid so they always covered food shopping, petrol etc etc. Only ever bought 'bigger' stuff on interest free credit, and only if we could afford it really. It's false economy to do otherwise. NB I never counted the mortgage as that much of a terrible debt even though of course by nature, they are! - because if we weren't paying for one we'd have to pay rent instead anyway - so mortgages are just a Fact of Life - not 'borrowing' IYSWIM.
     
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  13. denisejoe

    denisejoe Funster

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    I still use an old MS Money programme (think it's the 2000 version)! I've also recently purchased YNAB (You Need A Budget) which you can download a trial of for 34 days to see if it'll work for you. I found it to be very useful so bought the full version, although if you watch their webinars (on line training videos), most of which are on at odd times, you get the chance to win a free copy at the end of each one.

    Denise
     
  14. Milliemobile

    Milliemobile Funster

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    Keep track of our trips and home on MS excel, can access it from laptop, phone or via cloud on any other device if need. Simple to use works for us.

    Lin :)
     
  15. Bailey58

    Bailey58 Funster Life Member

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    I upgraded to Win7 a few months ago and re-loaded my old version of Money. Since reading this thread I've downloaded Sunset but it won't import my data from the old version. I've got 12 years on there so too risky to mess about starting with Sunset. :eek:
     
  16. Puddleduck

    Puddleduck Funster

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    I use (and have used) Money Manager from MoneySoft for decades. The basic programme (not free) will do all you want and more :) The next step up Final Accounts puts it all in to formal accounting format and will do tax calculations :)

    We have three linked bank accounts for personal finance. A savings account and two current accounts. One current account is for the direct debits, standing orders and other regular payments and we transfer enough money into that every month to cover these outgoings. The savings account is for short term instant access type savings (next to no interest of course) and is our safety cushion. The second current account is where we pay in our income and from where we transfer to the outgoings account and to the instant access savings account. I keep a close eye on what is where and move money around as necessary making sure there is enough in both current accounts but not too much!
     
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  17. peterc10

    peterc10 Funster

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    I agree entirely with this.

    We used to use Quicken for all our personal and self employed accounts. But it was no longer supported when I went over to Windows 7. Looked high and low for good simple to use accounts package that had lots of features. All of the free ones I looked at had limited features, until I came across the MS Money sunset edition for free. Tried it and it is very good - in fact much better than the Quicken that it replaced.
     
  18. Gromett

    Gromett Funster

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    I don't use a financial package to do it partly because of the reasons listed above. Software gets deprecated, file formats change and companies stop supporting software.

    A basic spreadsheet does everything I need including my business side and the file format is so stable I have been using the same spreadsheet since 2002 (with upgrades) of the free software.
     
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  19. Dogsense

    Dogsense Funster

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  20. Dafydd

    Dafydd Funster

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    Thanks for all the replies. No one has recommended a book and pen I see... how times have changed...
    Grommett are you using the LibreOffice you linked to above?
    Fifty years old and I've never used a spreadsheet application... I think something simple-ish would be best for me to maximise my chances of actually keeping up with it. I've got six months to train myself into the habit so there is hope...
     

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