Comments on: Manage Your Money With Software http://www.thoughtfulconsideration.com/2006/11/25/non-finance/technology/manage-your-money-with-software/ Live Better - Get Your Think On! Thu, 21 Aug 2008 17:56:56 +0000 http://wordpress.org/?v=2.2.1 By: End-Of-Year Personal Finance To-Do List at ThoughtfulConsideration.com http://www.thoughtfulconsideration.com/2006/11/25/non-finance/technology/manage-your-money-with-software/#comment-200 End-Of-Year Personal Finance To-Do List at ThoughtfulConsideration.com Mon, 18 Dec 2006 04:26:47 +0000 http://www.thoughtfulconsideration.com/2006/11/25/non-finance/technology/manage-your-money-with-software/#comment-200 [...] Review our credit card report and checking account expense report for the year and see where all the money went. This will be a very interesting exercise for us, as always. I generally try to keep up with our spending in Microsoft Money, but I’ve fallen a couple of months behind. It is very helpful to categorize the spending in order to run reports and analyze where you’re blowing it all. I’ve added a few new categories in order to more closely monitor our gift spending (gifts for friend, gifts for family, and gifts for our little family) this year, so that will give us more detail than we previously had. [...] […] Review our credit card report and checking account expense report for the year and see where all the money went. This will be a very interesting exercise for us, as always. I generally try to keep up with our spending in Microsoft Money, but I’ve fallen a couple of months behind. It is very helpful to categorize the spending in order to run reports and analyze where you’re blowing it all. I’ve added a few new categories in order to more closely monitor our gift spending (gifts for friend, gifts for family, and gifts for our little family) this year, so that will give us more detail than we previously had. […]

]]> By: Andy http://www.thoughtfulconsideration.com/2006/11/25/non-finance/technology/manage-your-money-with-software/#comment-106 Andy Mon, 27 Nov 2006 06:29:10 +0000 http://www.thoughtfulconsideration.com/2006/11/25/non-finance/technology/manage-your-money-with-software/#comment-106 Nick, Thanks for the great suggestion. I hadn't thought to take that approach. I imagine that it's especially helpful for you since you have money due to you each month with your rental properties. While we're sharing tips, if you want to use Quicken or MS Money to keep track of your net worth, it's a good idea to setup an asset account that includes the values of any real estate that you own. Otherwise the displayed net worth will be off by a significant margin and probably orders of magnitude. Nick,

Thanks for the great suggestion. I hadn’t thought to take that approach. I imagine that it’s especially helpful for you since you have money due to you each month with your rental properties.

While we’re sharing tips, if you want to use Quicken or MS Money to keep track of your net worth, it’s a good idea to setup an asset account that includes the values of any real estate that you own. Otherwise the displayed net worth will be off by a significant margin and probably orders of magnitude.

]]> By: NLG http://www.thoughtfulconsideration.com/2006/11/25/non-finance/technology/manage-your-money-with-software/#comment-104 NLG Mon, 27 Nov 2006 01:50:37 +0000 http://www.thoughtfulconsideration.com/2006/11/25/non-finance/technology/manage-your-money-with-software/#comment-104 Nice post Andy, thanks. I'm relatively new to the idea of tracking my finances in software as well. I chose Quicken, but from what I understand it has a nearly identical feature set to MS Money. One tip I have is that I just recently set up both an Accounts Receivable and Accounts Payable account. I found that it is a better way to keep track of small debts such as a purchase we made on a store credit card in order to save 10%. Now that we've saved that money, we'll never use the card again, so it doesn't make sense for it to have its own account in Quicken. Nick Nice post Andy, thanks.

I’m relatively new to the idea of tracking my finances in software as well. I chose Quicken, but from what I understand it has a nearly identical feature set to MS Money.

One tip I have is that I just recently set up both an Accounts Receivable and Accounts Payable account. I found that it is a better way to keep track of small debts such as a purchase we made on a store credit card in order to save 10%. Now that we’ve saved that money, we’ll never use the card again, so it doesn’t make sense for it to have its own account in Quicken.

Nick

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