I have briefly checked YNAB and am not yet convinced. Its concept of setting a target of the fixed expense and assign account balance to the target is not what I need. I don’t need to consider my fixed expense as a target, I can easily pay them off. I just want to record the actual expense. Even though they don’t change much, they do vary from time to time. Some months the sunrise bill, the electricity bill is slightly higher than the other months.
Also YNAB is not free. I wonder if any of you have a similar problem? What do you use? I can imagine some simple excel sheet will do. Or a simple free tool app, simpler than YNAB. I’d love to hear your choices. Thanks
I’m using hledger (https://hledger.org/) to track all my assets, liabilities, equity, income and expenses.
After you’ve recorded your transactions (I actually automate this using hledger-flow) you can instruct hledger to generate an income statement for a given period which shows your income and expenses. You can also ask it to generate a column with an average per income and expense account for the given period such that it’s easier to compare them.
Note however these are Plain Text Accounting tools so you need to be a bit comfortable handling a text editor and a command line.
KMyMoney is perfect for my needs. It’s free, easy to set up and run if you’re a bit familiar with double accounting. I’ve been using it for over 10 years now.
It’s not a shiny app but a good old desktop program where you keep full control over your data.
Personally, I use https://budgetbakers.com/ to keep track of my assets. There is a free version and a premium version which costs once CHF 40 without subscription (there are regular offers, I think I had the premium lifetime for only CHF 20). It’s a great tool for mobile and computer use, with the possibility to set up recurring payments or recurring cash inflows.
I do not see the benefit on doing for family/personal. But I do not really budget anyway. we only have 2 budgets (personal expenses like an allowance 1000 per month no questions asked whether you save it expend, money for trips goes from this bucket except the transport and accommodation), then I tracked our expenses by categories.
the entry bar is abit high (especially if you are not familiar with python/ programming) but it offer absolute automation and freedom to do whatever comes to your mind. fully integrates with python, and thus with anything that has an API or a (csv) export funciton
just had a look at subscriptions it seems exactly what I would like to have. Just that it doesn’t allow to fluctuate a bit of the fixed cost, for example, sunrise bill is 1 chf higher than the usual. But I guess if I want simplicity, this is as simple as I can get. So cannot complain. thank you
I’m using YNAB since May 2020 and I’m very happy since then. It was a bit frustrating to use it at first, but now it runs smoothly. Also, what I really enjoy is the fact to allow money at the start of the month in order to know exactly fixed expenses you need to allocate and what remains on your pocket for non-reccurent exepenses. The fact to know that after you allocate all your fixed expenses (and investment) you have a bit more is a peace of mind.
However, I will take a look at MoneyWiz, it looks promising.
EDIT: Oh… It is not compatible with Microsoft… Nevermind so…