Keeping track of money

Kimlouise22

How do you all keep track of direct debits and debts each month? do you have a spreadsheet or maybe something else you use, trying to get more organised

Brie

I have a spreadsheet. Had the same one for 20+ years which I first set up to track our credit card debts while I was doing a lot of stoozing. Originally it was quite simple - name of cards across the top, dates payments needed to be made down the side. Total owing on each card under the name and then the payments anticipated over the coming 2 - 3 months so I could keep on top of what needed to be paid off by what date. Because of the stoozing I numbered payments so I could most easily remember which balance/money transfer needed to be paid off first as getting that wrong could cost a lot of interest. It's much simpler now that stoozing is no longer required as a coping mechanism. But when there was a lot of debt (£70k at one point) I would print it off and keep it in my back pocket so as to not get lured in to spending what I didn't have.

I didn't need to track the DDs on there as my bank statement online did that very efficiently until RBS got rid of their system and switched the account to the NatWest one. Now I've added it to my spreadsheet. It's a simple list in date order of expected income and DDs or standing orders which I check a couple of times a month - just to make sure everything is ticking along and to warn me if I needed to move money between bank accounts or if some company has changed the DD amount without adequate warning.

I've also got a list of all accounts we have with a code for the passwords as I've got a terrible memory so need a (hopefully) subtle prompt. This is the "just in case" list I give to my husband a couple of times a year so that he might be able to pick things up should I be unable to at some point. Hasn't happened yet, and hopefully won't for a decade or 4.

TadleyBaggie

I use an app called Banktivity on my MacBook and also on my iPhone/iPad.

Kimlouise22

Thats fantastic thank you, what app do you use for your spreadsheets? would preferably like one that me and OH could check and edit

Kimlouise22

i will have a search and see if it is on google

wmb194

If you search the forum you'll find a number of threads on this subject but I use MS Money 2005 UK. For DDs and SOs there's a 'Bills & Deposits" wizard you can to set them up and use as a list or you can just enter them directly into your account registers as future dated withdrawals. For debts you can setup credit card and loan accounts.

Microsoft 'sunset' this software a while ago and was giving it away for free. You can find it here:

https://www.garethjmsaunders.co.uk/2011/11/27/download-microsoft-money-2005-for-free/

For spreadsheets, Microsoft Excel.

ZeroSum

MS money for cashflow.

Excel for investments

Brie

I use excel. I like it and can do low level formulas so things add up etc which makes life easy.

MEM62

https://forums.moneysavingexpert.com/discussion/6679484/keeping-track-of-money

Excel is all you need.

JGB1955

I use Money 2005. I have all my anticipated income and expenditure entered for the next 12 months and update it every time I make a purchase or receive income. I can tell you that my current account looks to be £1,169.28 in credit on 12 August next year!

Eco_Miser

There are a number of recommendations for Excel. Is it free now? Libre Office Calc is, and always has been, free. (as in speech and as in beer) and does just about everything Excel does and more. This is a Money Saving site after all.

I use one Calc spreadsheet to record all bank transactions, and another to plan out what's going to happen (monthly pension, 28-day state pension, semi-random dividends, interest, maturing accounts, direct debits, standing orders and manual transfers when needed) for the next several months to a year in advance.

I started it last millennium, switching from a paper accounts book, and it's grown in complexity and usefulness, but now needs simplifying.