1/11/2024 0 Comments Moneywell vs ynab![]() There is a Chrome browser add on called YNAB Toolkit that's expands the customizability and adds a lot more reports. The auto import works relatively well though its not perfect. Love assigning each dollar to a purpose and seeing exactly what I have saved for everything. I have links to retirement planning sheets I've downloaded, which I can fiddle with strategies (SSA, Roth conversions, investment mix.etc), so I've got my finances planned until I die.Ĭompletely transformed the way we manage our money. The format is exactly what I want to see, in one summarized page, that shows the full comprehensive picture of wages, IRA/401K planning, expenses, and tax. Maybe took 4 hours to setup the templates, and takes about 1 hour/month to maintain all this, I update beginning of month. Google Sheets has some excellent finance functions and plugins to track investments, dividends, bond amortization/principal.etc. Also, in Google Sheets, I also track all my investments, wages, employee contributions, and tax estimate for fed/state, so I get tracking on where I will be at the end of year based on all inflows and outflows. I export all my credit card and bank transactions (5 sources), categorize them, and they flow into my monthly/annual tracking with lookup functions, with comparison/tracking to last 5 years. ![]() There's a reason why finance departments use spreadsheets to present meaningful/summarized data (and not SAP/Oracle Reports). That feature as well lets you run different "what if" scenarios to see the overall effect on your lifetime plan. In addition to the cash flow forecast, MS Money has a lifetime planner which allows you to plan and look years into the future, including retirement. Note that the Pocketsense program (freely available) can import your investment account info into Money, too. Thus, Money does the job, and I do not have to worry about security, either, since I manually update it. At this point in my life, though, I have a very consistent budget month to month, so I really only care about the future balances of my accounts. I certainly understand and appreciate the power of this rearward approach when one is starting out and perhaps has difficulty managing money or perhaps has an unpredictable budget. I noticed that most popular budgeting software today seems to be focused on helping users see where their money went in the past, rather than how their budget will affect them in the future. My wife and I use this feature all the time. With one click, I can see exactly how my budgeting decisions will affect my account balances for a month or even years in the future via a simple graph. I use MS Money, as well, for one feature that, to my knowledge, is not part of other budgeting software: the cash flow forecast.
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