I want a good budgeting tool

Anirudh · #1 (**permalink**) 08-23-2006, 12:46 AM

Hi,

I am Anirudh from India. I am in my late 50's. Since I live all alone I am looking for a good budgeting tool, so that I can manage my finances well. I would like a very simple budgeting tool on which I can easily workout, because I dont have much of the technical knowledge.

It would be great if you could help me in any way.

Thanks in advance,

Anirudh

tgavin71 · #2 (**permalink**) 08-23-2006, 02:10 AM

Welcome to the forums Anirudh. I dare say you are going to get a lot of responses. So I will only give you one peice of advice. Before you even worry about creating a budget or getting a budgeting tool it is essential that you have a record of how much you spend. Write everything down for at least 3 months.

waffletchnlgy · #3 (**permalink**) 08-23-2006, 10:04 AM

Hi there -
I tried Quicken and didn't like it as I found it an all or nothing proposition. Several investment transactions also didn't match with the transactions in Quicken (i.e. stock dividend), so you have to become creative and then things do not balance always. When looking at several personal finance websites, I noticed many use a simple spreadsheet. So that's what I did. I created a simple balance sheet and cash flow spreadsheet, similar to the one companies actually use.

Broken Arrow · #4 (**permalink**) 08-23-2006, 11:42 AM

I recommend starting with a stack of envelopes and a ledger book. Real ones.

Seriously!

Anirudh · #5 (**permalink**) 08-23-2006, 09:23 PM

Hi,

Thanks for the advice. Yesterday I also serached for some budgeting tools. I got one <a href="http://www.softpedia.com/get/Others/Finances-Business/Personal-Budgeting-Tool.shtml">personal budgeting tool</a> at softpedia. It looks good and userfriendly to me.

I would request you all to please reveiew this for me and let me know if this is a good tool to use, as I dont have much knowledge in this field.

Thanks,
Anirudh