View Full Version : Personal finance apps: Which one and Why?

4th June 2007, 04:55 PM
Hi all,

I'm thinking it's time to really manage my money, just wonder what apps do other people here use and reasons to choose one over the other apps.


4th June 2007, 06:18 PM
An excel spreadsheet showing incoming vs outgoing expenses (along with the various auto splits of funds to cover say bills etc).

So we adjust a few items month to month and we know how much we can save, ie the left over :)

4th June 2007, 06:28 PM
Quicken, it came on my install disk. :D

4th June 2007, 07:03 PM
being old-fashioned, my apparatus consists of:
- a pen (or sometimes a highlighter or a CD-RW texta, whatever's closest)
- mental arithmetic (or, in extreme situations, the Dashboard claculator via the F12 key)
- a handy post-it note or the back of the nearest envelope

The means, as you can see, is not the issue. The issue is in the theory I apply.

Which is as follows:
- schedule bills and credit card repayments via the net, scheduled for the due date and the exact amount, and not a moment before.
- soon after each pay, get balance of main bank account.
- subtract "future transactions" (e.g. bills and transfers in first step above) that are scheduled for before the next pay
- subtract amounts of fixed expenses that will have to be paid before next pay (e.g. rent)
- subtract ROUGH living expenses (e.g. food, travel, beer, more beer, kebabs, clothes, shoes, haircuts, macs, etc etc etc - pretty much anything except what you'd pay for by credit card)
- round down the remainder to the nearest $250
- if the rounded number seems too small, adjust spending amount in above step and drink less / go out less / get less taxis everywhere when drunk / buy less clothes / defer whimsical spending to future / etc until "living expenses" is a bit less and remainder is therefore a bit more.
- transfer the rounded amount into appropriate saving(s) accounts

Some people elect to do this automatically every pay and have a regular savings amount automatically. I personally do not do this as I deliberately like to organise it myself to maximise my cash flow advantage. A regular savings automated setup may work better for some though.

At end of year I look at my group certificate (by the way the correct name has now changed to payment summary) and I say "wow, i earned more money than I can now see in my bank... must have had a few beers this year... really should buy shares in local pub... come to think of it have probably bought local pub's pool table 3 times over progressively in $2 coins during the year... oh well..."

4th June 2007, 07:31 PM
I'm trying money dance at the moment, and I'm going to give Quicken a go if I can find a mac trail version (haven't looked yet).

Money dance seems okay, does a lot that I'll probably never need...

4th June 2007, 08:29 PM
You might want to check out this thread which mentions a couple of apps:

There are a number of personal finance apps for the Mac these days with varying price ranges and feature sets (better than a couple of years ago). The thread above mentions many of these so you should check a couple out. Oh and I have written a personal finance app, the link is in my sig.

21st March 2008, 12:48 PM
I use to run MS Money on my PC, but as a new Mac convertee, what can I run on my new iMAC running Leopard, which will be similar to MS Money for managing by personal finances and tracking Aussie shares?

21st March 2008, 01:01 PM
Whatever you do avoid MYOB.
It will destroy your life (well maybe not but it does suck).

21st March 2008, 01:17 PM
MYOB is confusing,

Quickbooks seems to take up the par by a million.

or you could try opensource alternatives.

21st March 2008, 01:21 PM
This has recently been released, but I can't vouch for it. Looks quite 'Mac like'.
MotiMotion Prospects (http://www.motimotion.com/prospects/)

21st March 2008, 01:27 PM
Whatever you do avoid MYOB.
It will destroy your life (well maybe not but it does suck).

I have been using MYOB since 1997!!!!

And yes, my life has been well and truly destroyed.:mad:


21st March 2008, 02:04 PM
Don't use MYOB unless you are running a small business. Even then you will hate it. I do. So does every accountant I talk to.

I've used Quicken for years but am just about to try a demo of iBank to see if it's any better.