Simplifying

birch_2

Can anyone give any suggestions how to simplify the whole way of life with regards to bills,budgeting etc. i seem to have loads of d/d out of bank etc, loads of files. i use micro money but i find the categ. to confusing and i feel i just want to have a less stress free way of living.

YorkshireBoy

To be honest with you, I can't see anything being easier than MS Money - once you've set it up.

I have 33 'open' accounts set up on MS Money.
My main current account alone sees over 80 transactions a month.
I spend an average 5-10 minutes a day on admin.

However, I don't go in for categorising every pound spent, and I could see how you could get 'bogged down' in the detail if you did. What's the saying..."paralysis by analysis"?

Edinburghlass_2

You can too, do away with all their categories and create your own which is what I have done for business accounts. I have it set up with categories that suit the tax returns

roswell

One bank account for Bills (DD`s), one bank account for cash expenses shopping / petrol / pocket money. When the pocket money account is empty stop spending.

also while your at it make sure all your DD`s are still current and correct a friend of mine just found out they have been paying mobile phone insurance for 4 years on a phone they dont have anymore.

roswell

Oops forgot you need a 3rd account called "savings " < does as it says on the tin.

EagerLearner

Hi birch - forget the programmes and just use my easy spreadsheet - I find it more straight forward - had tried Money programmes etc but this spreadsheet works better for me...

PM me if you want a customised 'joint account' one...

twinklybev

Hi,

I agree with Roswell. Have one account for wages to go into & direct debits to go out off. "Pay Day, Going out Month"!! Another account for what's left & food money, which there's some flexibility to save on as opposed to DD's which are set in stone.

You could perhaps just try having 2 excel spreadsheets, one for DD's more for verification to tick off as they come out & another for cash spends, petrol, food, etc. Try printing them off & keep them to hand, i.e. rather at the front of your diary than just on the PC screen. That way you can easily refer to them wherever & if you're tempted to overspend, e.g. on clothes, you can remind yourself of your original budget when out & about. If it's only on the screen, you might be tempted to accidentally forget the budgeted amounts you've set & overspend.

Depending on how you prefer to handle your money, you could either leave leftover money in 2nd account & use switch to pay for items or withdraw all the money when you get paid & divided it up into cash bags for each expense & keep it at home, preferbaly in a safe for security & to avoid temptation of over spending as it makes you think before you spend.

E.g. cash bag for petrol, food, lottery, going out, etc & put the cash in each bag & stick with each bag for each expense. Bit faffy I know but you'll soon see where your money's going.

Save anything left in an ISA & plan ahead with a written schedule for birthdays, car tax, MOT, etc. You won't feel as rich each month but at least those one-offs won't come back to bite you as you'll be expecting them.

Good luck : -))

birch_2

Thanks everyone! will have a go tomorrow.