Budget planner

[Jmort1754]

Trying to help a friend set a more manageable budget so he can join in on hunting shenanigans across the country.

Do any of you guys have a good app, website, or something smart (web based) that I can point him towards? I have tried the typical stuff for tracking that I know of and that works for me. He makes good money and definitely has a spending problem so something that tracks his spending is great.

 

[cornfedkiller]

Been using YNAB for years.. I love it!

 

[hunterjmj]

We've used the Ramsey budgets app for years now. Great tool to keep you on track

 

[Rich M]

What about a simple spreadsheet?

Track daily, weekly, monthly, quarterly, and annual expenses.

 

[HvyBeams]

I also use Every Dollar by Ramsey.

 

[MallardSX2]

Spreadsheet.

It’s the only way.

 

[drdrop]

I'm a huge fan of Empower's Personal Capital dashboard. It securely compiles data from all your accounts into one spot (investment, credit card, mortgage, etc.), provided that your banks, brokerages, lenders, etc. have online integration capabilities (my mortgage does not). I most often use it to check my expenses, where the dashboard efficiently shows patterns month-to-month and year-to-year. It doesn't take much of an imagination to consider how lower expenses help out the other parts of the dashboard in the savings realm.

 

[Traveler]

does he really want a budget to enable hunting? I recommend making sure that is a real interest of his.

If it is, when building a budget I would focus more on saving for hunting rather than tracking spending. In other words it is super easy to set up direct transfer to a standalone account for a specific activity. Then just leave it be.

When saving for a specific thing, hunting or retirement, rule #1 is pay yourself first.

 

[Rich M]

does he really want a budget to enable hunting? I recommend making sure that is a real interest of his.

This is the first thing I thought - wasn't able to type it so it sounded nice. We tend to afford what we want to do.

 

[cb122]

I'm a huge fan of Empower's Personal Capital dashboard. It securely compiles data from all your accounts into one spot (investment, credit card, mortgage, etc.), provided that your banks, brokerages, lenders, etc. have online integration capabilities (my mortgage does not). I most often use it to check my expenses, where the dashboard efficiently shows patterns month-to-month and year-to-year. It doesn't take much of an imagination to consider how lower expenses help out the other parts of the dashboard in the savings realm.

I second this. Personal Capital is an excellent financial tool to use and it's free. I have been using it for 5 years now. No issues with account security. At the beginning of use, their financial sales reps/advisors attempted to call me to pitch products. Since I DIY, I told them I would never be interested in their services. They likely flagged my account or took me off their call list as I don't receive phone calls anymore.

Mint is also a free budgeting website to check out.

 

[Smoke10]

I also use every dollar budgeting app(free version).

One thing I do in addition to the budgeting app that helps me, is I keep a running total of my bank account balance in my phone's calculator. I track deposits and payments for my bank account - an electronic version of balancing my bank account.
If a check Ive written hasn't been cashed yet, or debit card payment hasn't fully processed, I still know what I've spent and what my account balance really is, without having to carry a checkbook

 

[Jmort1754]

does he really want a budget to enable hunting? I recommend making sure that is a real interest of his.

If it is, when building a budget I would focus more on saving for hunting rather than tracking spending. In other words it is super easy to set up direct transfer to a standalone account for a specific activity. Then just leave it be.

When saving for a specific thing, hunting or retirement, rule #1 is pay yourself first.

I think so, he is always complaining that he never has the money and needs something to manage it.

He makes well over 6 figures and I believe has a spending problem.

 

[wesfromky]

Another vote for ynab - it really helps you see where your money is going, and it is easy to set up a category to build funds in. Like create a hunting item, and just move x number of dollars into it every check. No need to setup and manage a separate account.

 

[MattB]

What about a simple spreadsheet?

Track daily, weekly, monthly, quarterly, and annual expenses.

This is what I did. Prior to retirement I tried to put everything I could on a credit card, downloaded the monthly spend data, and categorized it.

 

[GSPHUNTER]

If he can't manage a simple bank account, all the spreadsheet on line won't help. Aside from the fact he won't use one. Ten cent millionaire.

 

[loganwayne]

tell him to take out x amount of cash a week and thats his "spending money" its alot harder to spend cash when you open your wallet and it went from a couple hundred to a couple ones by wednesday.

 

[jpuckett]

Money Planners — Millennial Money with Katie

The Wealth Planner is a simple tool designed to help you stay on track and reach your spending, investing, and debt payoff goals.

moneywithkatie.com

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[jpuckett]

I think it can be beneficial to not change anything your doing. Just business as usual for a month or two. And use a tracker or wealth planner like this.

The numbers of where you are $5 here $20 there can be staggering. Once you see it up close and personal, then you can start to institute changes. This planner is what my wife and I use


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[Extrapale]

Shitty to say, but find a new job. Making it work at 60k is a recipe for disaster. Figure out the best employers in your field. Find a way to get on with them.

Either that ot start your own business. Bite the bullet for 10ish years, then reap the benefits.

I did the former. It's not nearly as nice as the latter, but I get out for 30+ days a year without a final ial compromise.

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[Mike D Texas]

Shitty to say, but find a new job. Making it work at 60k is a recipe for disaster. Figure out the best employers in your field. Find a way to get on with them.

Either that ot start your own business. Bite the bullet for 10ish years, then reap the benefits.

I did the former. It's not nearly as nice as the latter, but I get out for 30+ days a year without a final ial compromise.

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Where did you see $60k?


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