Budget spreadsheets/Apps??

[Flyfish1]

First of all I just retired a couple of weeks ago! This site and others were very helpful in making that transition. I'm 59 so not exactly FIRE , but all good.

So, I'm trying to simplify things a bit for both of use. For years I used a series of simple spreadsheets that I put together tracking income and expenses across several bank accounts. I used Quicken and hated it, tried personal Capital and hated it.

I tend to use the "bucket" or envelope approach for bigger expenses like travel in one account tracking that on an Excel sheet, and the day to day expenses in another account I still use an old school pen and paper ledger. I would like a better spreadsheet/system for tracking my buckets/envelope approach and I don't want to pay a monthly fee to some company for that, nor do I want another company tying into my bank accounts. I guess want I really want is a better spreadsheet approach.

Any suggestions?
Thx!

[camfused]

Congrats on your retirement!

As for advice, I am not much help. As a former software engineer, it was no big deal for me to create complex spreadsheets for budget tracking and retirement portfolio projections, but I understand that I am not "normal".

[audreyh1]

Quicken pretty much filled that need. Very powerful data collection and automated categorization from transaction downloads. I still generate the handy spending reports even though we no longer carefully track against a strict budget.

The reports easily paste into a spreadsheet if you want to add more functionality. There is rarely a need for us to do so.

[tmm99]

I used to use Pear Budget (excel) for a few years before I retired. Very basic, but it helped me keep track of my budget/spending. You can Google "pearbudget excel download" and you will see Pear Budget 3.1 to download for free. They have an online version that is fee-based, but I never used it so I don't know.

I see a bunch of Excel budget-related updatable templates on Etsy. Not only budget-related, but I see a bunch for finance-related templates too, and they're cheap (a set of templates for $5), so maybe it's worth looking into.

[Flyfish1]

Quote:

Originally Posted by tmm99 I used to use Pear Budget (excel) for a few years before I retired. Very basic, but it helped me keep track of my budget/spending. You can Google "pearbudget excel download" and you will see Pear Budget 3.1 to download for free. They have an online version that is fee-based, but I never used it so I don't know. I see a bunch of Excel budget-related updatable templates on Etsy. Not only budget-related, but I see a bunch for finance-related templates too, and they're cheap (a set of templates for $5), so maybe it's worth looking into.

Thanks - I'll look at both.

[bobandsherry]

Quote:

Originally Posted by audreyh1 Quicken pretty much filled that need. Very powerful data collection and automated categorization from transaction downloads. I still generate the handy spending reports even though we no longer carefully track against a strict budget. The reports easily paste into a spreadsheet if you want to add more functionality. There is rarely a need for us to do so.

Another vote for Quicken. Look for deals to save a few $$$, actually more than a few. It was recently offered through an authorized reseller for $32 for Deluxe edition and $42 for Premier. I also use it to track my investments.

BTW, I paste reports into Excel from Quicken to do some tracking and such. But I did spreadsheets for most of my career and it was just as easy to let Quicken do the grunt work and use Excel spreadsheet for analysis.

[Gumby]

I've never moved beyond my own self-created spreadsheets. I have only the most rudimentary Excel abilities, and I input all the data manually, so it is less efficient than most, but my method has been sufficient to handle all my data collection, organization and analysis needs prior to and since retirement.

[BrianB]

Google "Checkbook Register" and you will get lots of Excel templates. Most are free downloads. Maybe one of these would work for you?

For myself, Quicken is the way to go. It's got features I don't use, a learning curve, and now costs about $50 / year but I think it is worth it for the ability to handle large data files and the ability to handle all accounts in one program. We have records going back to 1991 and I do occasionally look up things from past years.

BrianB

[Flyfish1]

Quote:

Originally Posted by Gumby I've never moved beyond my own self-created spreadsheets. I have only the most rudimentary Excel abilities, and I input all the data manually, so it is less efficient than most, but my method has been sufficient to handle all my data collection, organization and analysis needs prior to and since retirement.

I know, I have a feeling I'll be sticking to my rather basic excel skills. At least it makes sense to me. But I will certainly look at some of the other suggestions.
I can't stand Quicken - tried it for several years and it was a nightmare.( just my opinion)

[VungTau]

I tried a number of apps and such and ended up staying with my spreadsheets and continuing to build them out. The other tools just didn't give me the flexibility I wanted.

[Jerry1]

Quote:

Originally Posted by Gumby I've never moved beyond my own self-created spreadsheets. I have only the most rudimentary Excel abilities, and I input all the data manually, so it is less efficient than most, but my method has been sufficient to handle all my data collection, organization and analysis needs prior to and since retirement.

Quote:

Originally Posted by Flyfish1 I know, I have a feeling I'll be sticking to my rather basic excel skills. At least it makes sense to me. But I will certainly look at some of the other suggestions. I can't stand Quicken - tried it for several years and it was a nightmare.( just my opinion)

I was thinking the same thing. Your spreadsheets are working for you. Why change now? Which raises the question - What is it that you are looking to get out of a more robust spreadsheet? I'm guessing you want some better reporting? Generally, there's value in keeping things simple.

[Koolau]

Quote:

Originally Posted by Flyfish1 First of all I just retired a couple of weeks ago! This site and others were very helpful in making that transition. I'm 59 so not exactly FIRE , but all good. So, I'm trying to simplify things a bit for both of use. For years I used a series of simple spreadsheets that I put together tracking income and expenses across several bank accounts. I used Quicken and hated it, tried personal Capital and hated it. I tend to use the "bucket" or envelope approach for bigger expenses like travel in one account tracking that on an Excel sheet, and the day to day expenses in another account I still use an old school pen and paper ledger. I would like a better spreadsheet/system for tracking my buckets/envelope approach and I don't want to pay a monthly fee to some company for that, nor do I want another company tying into my bank accounts. I guess want I really want is a better spreadsheet approach. Any suggestions? Thx!

Let me ask a sort of leading question. All the years you tracked spending, did you end up changing your proposed spending because the spread sheets told you you'd already spent too much already? Were you ever surprised by the bottom line of your spending?

My point. It's fine to budget and track - if you need to. Budgeting and tracking are good tools for those who struggle with spending and have different spending priorities between husband and wife (or partners.)

DW and I have found that we don't need those tools because 1) We think pretty much alike on spending. 2) We communicate about spending that exceeds a couple of hundred dollars. 3) We have a good "feel" for what we're spending just by looking at the bottom line in the check book.

I'd be the last to suggest someone drop tools that w*rk for you . Having said that, maybe you're w*rking hard at something that adds little value other than habit. I can't decide that for anyone else, but we've just never had a budget and only tracked spending one time. It all seemed a waste of time.

Again, it's gotta be what w*rks for you so YMMV.

[SJhawkins]

Used Quicken for a few years, took a few years off, tried Moneydance, did the Excel thing, back to Quicken for a year and remembered why I ditched Quicken the last time around.

Looking back at it really did not change much of anything we did. Never have been big spenders and we run a simple household.

Guess if I was going to pick one it would be Moneydance or just an plain old Excel sheet.

A couple of years before retirement will probably start a spread sheet for good measure, maybe!

[Midpack]

If you do an online search you might find an Excel spreadsheet that fits your needs, here’s the first one that popped up when I searched. https://support.microsoft.com/en-us/...f-a389a40c3174

But I wrote my own many years ago, and built on it in the years since. Not only do I get exactly what I want, with highly automated summaries using pivot tables, but I know and fully understand the underlying calculations so I’m 100% confident in my results. To me it’s worth the effort to develop your own, budgets and spending are not that tough.

My basic scheme.

• A big table (ours mimics a checkbook register) on worksheet 1 (first 1499 rows are expenses, budget starts on row 1500)
• some pivot tables to summarize by spending category worksheet 2 (I have categories with subcategories defined in drop downs) and
• variance spending vs budget worksheet 3
• budget summary worksheet 4.
• also have summary of deposits worksheet 5 (sums dividends, withdrawals, etc.), and
• pie charts to drill down on top 10 categories, dining and medical expense summary worksheet 6-7-8
• then one that projects (not annual) infrequent big ticket expenses like cars, furniture, appliances, roof replacement/major home expenses worksheet 9 so I can budget for them

It may sound like a lot of work, ALL all the entries are in worksheet 1, everything else is done automatically thereafter from worksheet 1 entries. DW sends me all worksheet 1 entries for the last month at the beginning of each month (we still record every expense using a checkbook register even though we hardly ever write checks), I double check that and refresh all the other worksheets to see how we’re doing. It’s a very simple process now. We haven’t had a spending issue for decades.

[DrRoy]

I don't think you are going to find a better spreadsheet than Excel. It's what I use.

[Midpack]

Quote:

Originally Posted by DrRoy I don't think you are going to find a better spreadsheet than Excel. It's what I use.

I agree, though you pay handsomely to use it. For Apple users, Numbers probably has all the functions most people would need, especially for budgeting. And (Google Docs) Sheets is similar to Excel for free, for those who are comfortable using Google (not me, but please don’t hijack the thread).

Quicken was way more trouble than it was worth when I tried it. And my spreadsheets fit my needs better anyway. YMMV

[Koolau]

Quote:

Originally Posted by Midpack I agree, though you pay handsomely to use it. For Apple users, Numbers probably has all the functions most people would need, especially for budgeting. And (Google Docs) Sheets is similar to Excel for free, for those who are comfortable using Google (not me, but please don’t hijack the thread).

Yeah, Numbers w*rks well enough for all the stuff I need. I used it for tracking expenses one year since I don't have Excel.

[rk911]

Quote:

Originally Posted by audreyh1 Quicken pretty much filled that need. Very powerful data collection and automated categorization from transaction downloads. I still generate the handy spending reports even though we no longer carefully track against a strict budget. The reports easily paste into a spreadsheet if you want to add more functionality. There is rarely a need for us to do so.

That's what I did. For years we 'contributed' $ to a dozen or more virtual sinking funds within a bank account. I used Quicken to track those contributions and withdrawls and to print a report for my wife as to how mich each virtual fund had...new car purchase, vacation, etc. Later I learned how to export that Quicken report to Excel.

[rk911]

Quote:

Originally Posted by Midpack I agree, though you pay handsomely to use it...

Not necessarily, at least not in our case. Older, legal versions of Excel are available for a song. I purchased MS Office 2007 ~10-yrs ago from eBay for less than $100. Outlook, Word and Exel still working fine. Data resides on the hard drive backed up locally and in the cloud.

[ElizabethT]

I use Google Docs, which is simply Excel light. I have a Tab for each year, as I do find value in doing lookbacks from time to time. I link current year cells to prior year cells for purposes of ease when populating each new year's spreadsheet. I track everything, because my goal each year is to keep dull run rate items low (taxes, insurance, utilities), and fun discretionary items nice and high, lol.

Our goal is to spend every penny of each year's allocations, and how would I know if I've succeeded if I don't track? Seriously, my motivation is to spend it all every. single. year!