Saturday, July 07, 2007

Budget Software

Instead of making up my own excel table, which I knew would be tedious I decided to spend the money and buy a budget software program. I googled "Budget Software Excel" and the first hit was this You Need a Budget. After reading a bit on this website I was very interested.

I don't know what it was, but the guy who runs the site and created the program, Jesse Mecham, just had a way with words and how he communicated on the website. It was very conversational as if he was talking right next me.

I dediced to buy YNAB Pro because I wanted to be able to import my online bank transactions and I liked the screenshots. Also there is a 60 day 100% satisfaction guarantee. And! There were five bonuses that came with the download. Bonus 1 is a Debt Snowball a spreadsheet with a step-by-step process with how to get out of debt. Bonus 2 is an income tax forecaster, Bonus 3 is a retirement planner Bonus 4 is a mortage analyzer and Bonus 5 (which I most interested in) is a car maintenance schedule.

Since I usually pay debit or credit card for everything and rarely use cash importing my bank statements is very easy.

So far after using it for one day it's been great. I decided to start July 1st instead of backtracking all of my spending.

Keeping a budget is one thing but tracking your purchases is a whole different mind set. There are so many distractions out there to tempt you. For example, today George and I went to Wal-Mart to pick up some tapes so he could tape Tour de France. I had to decided what was a need and what was a want. The guys who read this blog won't care, but I wanted to buy red nail polish for my toenails because I didn't have any. But was this a necessity? No, my toes can be naked, or I could use the silver polish I have.

As one financial expert once said on Oprah, "If it's on your ass, it's not an asset."

After downloading the YNAB software I also signed up for the 10 day e-course.

Day 1 makes an analogy of the budget being a tree and the financial things around us like vacations, house, retirement are the fruit on the tree. So my plan for today is to list my financial goals (the fruit).

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