Advice on creating a budget and tracking spending

johnnyleeds

Greetings folks!

This is my first post on the MSE forums so hi to everyone!
I'm currently looking for some way I can create a budget planner and have some sort of spending tracker on my laptop computer. I've googled around and its totally bewildering the amount of stuff there is to choose from, many say free, but its just a 30 day trial which is no good, I'm trying to save money not add furthur outgoings!

Can anyone recommend a good accounting program for the PC that I can use to track my personal, business and household finances. I'm quite computer literate but I've never really used any money management software before. I'd like to find something that is preferably free, and that I can learn to use and stick with rather than having to constantly be moving between different programs which will just be even more confusing.

Like many other people these days I really need to get a handle on my finances. I dont have massive debts, but my income and outgoings are pretty random and I find it virtually impossible to save any money. I'd like to purchase a car / van soon as I'm self-employed and it would really help. However due to my mismanagement of my income I find that any money I manage to put aside doesnt stay saved for very long...!

I thought if I can see in black and white where my money is going then I can get a clearer picture of what I'm doing and set aside money for expenses such a vehicle. Thats what I mean, I dont even have any accounting system for my business at the moment, I've only been self-employed since January, but I'm really going to have to get my finger out before I end up in trouble with the inland revenue as well!

So if anyone can recommend any software that might be suitable for both my home and business accounting needs I'd be enormously grateful.

kind regards

Johnny

missile

There are several free money management software options. Some banks offer a service, e.g. LTSB.

I find these are overcomplicated to use and do not really meet my requirements. I created my own XL spread sheets.

I would suggest you separate your home and business accounts.

ktuludays

Same here. excel spreadsheet.

i'd be happy to send you a template of mine if you wish

dixon-bainbridge

Hi,

I too use a spreadsheet but in the past I used a program called Money Manager Ex which I found worked well for managing finances and is free. I only moved to a spreadsheet so I could tailor it to my needs a bit more

johnnyleeds

Thanks for the advice folks, I do use Excel, but more to organise information such as user names / passwords, bank login details etc, I've never got to grips with using it with formula's for calculating finances etc.

Anyway I've got a book on learning to use Excel which has been sat on my bookself since I bought it ten years ago! Time to read it I reckon, ought to be good read at bedtime as its bound to be totally rivetting read - not! I'm yawning just considering it, but its got to be done I suppose.

I've downloaded the MSE budgetting excel file, that might get things going for me, and yes I reckon I ought to seperate my household and business accounts. I'll have to set myself a wage to pay myself each week and put the rest of my business earnings into the business account for expenses and figure out what this tax thing is... I really dont understand a thing about business tax and how you can benefit by claiming back tax for business expenses etc as well as having to part with my hard earned cash for the government - more learning I need to do ASAP.

I'll post an update on how things progress, I'm hoping getting my money organised will be a revelation that will lead to me learning how to save and manage my finances and life more effectively.

You'd think I'd already know all this by now, it really ought to be compulsory teaching in school, I only learned about credit ratings etc by the time I'd screwed mine up, I've never had credit cards or massive loans, but cos a few small debts I had led to CCJ's now I cant even get a normal bank account or contract mobile phone / car finance etc. What a laugh eh!

elvis86

johnnyleeds wrote: »

Thanks for the advice folks, I do use Excel, but more to organise information such as user names / passwords, bank login details etc, I've never got to grips with using it with formula's for calculating finances etc.

Anyway I've got a book on learning to use Excel which has been sat on my bookself since I bought it ten years ago! Time to read it I reckon, ought to be good read at bedtime as its bound to be totally rivetting read - not! I'm yawning just considering it, but its got to be done I suppose.

I've downloaded the MSE budgetting excel file, that might get things going for me, and yes I reckon I ought to seperate my household and business accounts. I'll have to set myself a wage to pay myself each week and put the rest of my business earnings into the business account for expenses and figure out what this tax thing is... I really dont understand a thing about business tax and how you can benefit by claiming back tax for business expenses etc as well as having to part with my hard earned cash for the government - more learning I need to do ASAP.

I'll post an update on how things progress, I'm hoping getting my money organised will be a revelation that will lead to me learning how to save and manage my finances and life more effectively.

I also use Excel. It's easy peasy and you don't need to know any of the complicated formulas stuff to put together a basic budgeting tool.

johnnyleeds wrote: »

You'd think I'd already know all this by now, it really ought to be compulsory teaching in school, I only learned about credit ratings etc by the time I'd screwed mine up, I've never had credit cards or massive loans, but cos a few small debts I had led to CCJ's now I cant even get a normal bank account or contract mobile phone / car finance etc. What a laugh eh!

I don't really think you need finance lessons in school in order to know that if someone lends your money, they will want it paid back to them how and when you agreed when you borrowed it..:cool:

dixon-bainbridge

johnnyleeds wrote: »

Thanks for the advice folks, I do use Excel, but more to organise information such as user names / passwords, bank login details etc, I've never got to grips with using it with formula's for calculating finances etc.

Anyway I've got a book on learning to use Excel which has been sat on my bookself since I bought it ten years ago! Time to read it I reckon, ought to be good read at bedtime as its bound to be totally rivetting read - not! I'm yawning just considering it, but its got to be done I suppose.

I've downloaded the MSE budgetting excel file, that might get things going for me, and yes I reckon I ought to seperate my household and business accounts. I'll have to set myself a wage to pay myself each week and put the rest of my business earnings into the business account for expenses and figure out what this tax thing is... I really dont understand a thing about business tax and how you can benefit by claiming back tax for business expenses etc as well as having to part with my hard earned cash for the government - more learning I need to do ASAP.

I'll post an update on how things progress, I'm hoping getting my money organised will be a revelation that will lead to me learning how to save and manage my finances and life more effectively.

You'd think I'd already know all this by now, it really ought to be compulsory teaching in school, I only learned about credit ratings etc by the time I'd screwed mine up, I've never had credit cards or massive loans, but cos a few small debts I had led to CCJ's now I cant even get a normal bank account or contract mobile phone / car finance etc. What a laugh eh!

You're more than welcome to let you have a copy of my excel file if it helps. It has a budget section and a way to track transactions against your budget.

missile

I'm quite computer literate

but you can't use formulas in XL? :eek: