Keeping track of daily spend v budget via a mobile app

The_Boss

Hi all,

I used to record all my daily transactions on an Excel spreadsheet using my receipts but now would like to move to logging it all on an app so I can be more accurate in not forgetting to log anything.

I've done a search and read several threads about You Need a Budget and Money Dashboard (although concerned to read that Halifax will not refund fraudulent transactions if the password has been used on there) - are they suitable for recording this, as sometimes I'll pay cash and other times pay by card? If not, any other decent apps that would be useful?

Also, is YNAB free, as I've seen that there is a $60 charge for it but the app when downloaded suggests not.

Rosydoodles

YNAB is not free, you need a key from the desktop app to make it work on mobile devices and you have to pay for that desktop app.

I personally use Money by Jumsoft, also not free but I got it very cheaply on sale and it works very well, though it's Mac/iOS only.

You could always just use a Google Docs spreadsheet and their free app to update it on the go?

The_Boss

Thanks for that. I'm considering the Google Docs spreadsheet but would ideally prefer something that links into an app and that I can compare against targets.

colsten

I wouldn't be to hung up about having to pay a few quid for a decent piece of personal finance software. The intelligence you get from one of those packages can be priceless in no time as it will enable you to manage your money in the most efficient way possible. You wouldn't walk barefoot because shoes cost money, would you?

The_Boss

colsten wrote: »

I wouldn't be to hung up about having to pay a few quid for a decent piece of personal finance software. The intelligence you get from one of those packages can be priceless in no time as it will enable you to manage your money in the most efficient way possible. You wouldn't walk barefoot because shoes cost money, would you?

I am content to pay a few quid for a good app but according to one thread on here YNAB costs $60 and there's no way I'd pay that.

colsten

That's a dollar a year as it sets you up for the next 60 years.

The_Boss

colsten wrote: »

That's a dollar a year as it sets you up for the next 60 years.

I'm 35 so definitely won't be using it that long :rotfl: maybe for the next 5 years but it won't be updated as according to the other threads you need to pay for a brand new update each time. So I'll be stuck with something out of date that may be superceded elsewhere. Besides, I'm looking for a free app ideally although will pay a few quid if necessary - certainly not a hit of $60.

colsten

I bought an MS Money licence in 2003. Can't remember how much it was but it was money incredibly well spent as I would have got into a right old muddle without it as I always had multiple current accounts (peaking at over 30 earlier this year) plus some savings and investment accounts and electronic wallets. I would no doubt have lost money at some stage if I hadn't had the detailed records (unintended overdrafts etc), and I would most certainly have caused myself unnecessary anxiety.

I guess the software paid for itself in less than 12 months, and I am still using it daily to the very day, even though MS don't support it any longer. Even if they still supported it, I would probably not have had a need to upgrade it as the base functionality is rock solid. I also expect I will be able to, and want to, still use it in ten or twenty years time.

One of the very best investments I ever made. Though I am not suggesting it would be for you as it is not a mobile app. Just saying it to illustrate that spending a bit of money upfront can prove to be invaluable. Cheapskating isn't always the best approach. In fact, I think it never is.

Over and out....

The_Boss

^ fair enough, it's a good point and something to consider once I've exhausted other possibilities. That said, there don't appear to be any!

Should I be concerned at my bank/card companies not covering me for fraud if I use my log in/password details on Money Dashboard or is this not actually an issue?

The_Boss

I've downloaded many apps yesterday that fit the bill for what I'm after and will decide what to use after testing this weekend.

The ones downloaded are Expense IQ, Money Lover and Spendee. There were others too but I uninstalled these as the interface didn't suit me. All are meet my needs, being free apps that I can pay a couple of quid to upgrade if I want.

But my question about Money Dashboard remains - should I be concerned at my bank/card companies not covering me for fraud if I use my log in/password details on Money Dashboard or is this not actually an issue?