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  1. #1

    Join Date
    May 2005
    Location
    Melbourne
    Posts
    289

    Default Personal finance apps: Which one and Why?

    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.

    Cheer,
    Chris

  2. #2

    Join Date
    Jan 2004
    Location
    Sydney
    Posts
    5,960

    Default

    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

  3. #3

    Join Date
    Dec 2006
    Location
    Sydney
    Posts
    586

    Default

    Quicken, it came on my install disk.

  4. #4
    rtc Guest

    Default

    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..."

  5. #5

    Join Date
    Mar 2006
    Location
    Melbourne
    Posts
    2,324

    Default

    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...

  6. #6

    Join Date
    Aug 2006
    Location
    Sydney, Australia
    Posts
    309

    Default

    You might want to check out this thread which mentions a couple of apps:
    http://forums.mactalk.com.au/showthread.php?t=29821

    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.
    Great Boo: Macbook Air 13" Basil the Rat: Mac Mini Core 2 Duo + 2 x TwinHan Alpha tuners + eyeTV, Cogent Paradigm: 20" iMac Core Duo, iPad 2 32GB, iPhone 4S 32 GB
    My Money Minder - Personal finance made easy!
    | My Blog: benb :))

  7. #7

    Join Date
    Mar 2008
    Location
    Melbourne, Australia
    Posts
    6

    Default

    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?

  8. #8

    Join Date
    Nov 2007
    Location
    Melbourne
    Posts
    654

    Default

    Whatever you do avoid MYOB.
    It will destroy your life (well maybe not but it does suck).
    hmmm ... crunchy

  9. #9

    Join Date
    Feb 2005
    Location
    Brunswick, Victoria
    Posts
    4,780

    Default

    MYOB is confusing,

    Quickbooks seems to take up the par by a million.

    or you could try opensource alternatives.

  10. #10

    Join Date
    Jan 2005
    Location
    Adelaide, SA
    Posts
    579

    Default

    This has recently been released, but I can't vouch for it. Looks quite 'Mac like'.
    MotiMotion Prospects
    The DC3 : "I was the guy in TISM". And an album (soon to be two). Out now. http://thedc3.com.au/

  11. #11

    Join Date
    Apr 2005
    Location
    Croyders, Melly
    Posts
    1,198

    Default

    Quote Originally Posted by tanguero View Post
    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.


    mutters

  12. #12

    Join Date
    Nov 2004
    Location
    Chasing rainbows
    Posts
    2,238

    Default

    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.
    Pass the crystal, spread the Tarot, in illusion comfort lies

    http://www.mistfall.com/

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