|
Posted by Oilcan on February 11, 2008, 1:21 pm
Please log in for more thread options
If you are managing cash flow - this is a viable option. Set-up your
Checking / Savings and your Credit Cards - record everything else in
categories.
There are Online Services that can do this. I am playing with Mint and
Wasebe. Don't expect investment information from these two. My initial
reaction is Wasebe is more robust - but in many respect more complicated (I
struggle in setting up new accounts).
Bank of America does offer a service that will integrate Investments and
Checking / Credit / Loans that looks pretty good. It works using a Yodlee
interface. This will give your more of a net worth (but with what you are
looking for is category spending). It is not perfect as it does not pick up
all of my accounts.
And there is Quicken Online ($3 per month)....
Oilcan
> Hi folks. I'm thinking about making a major shift in my Quicken usage.
> For years, I have tried to track the details of my paycheck, mortgage,
> loans, and other accounts. For as many years, I despite countless
> hours of nitpicking, I have failed to make any real use of this data.
> I am coming to believe that it is simply too complicated for someone
> like me (who is not an accountant) to track all of the miniscule
> details of his financial life.
>
> So, I'm thinking about tracking ONLY the net amount of each
> transaction on a daily basis. By that, I mean when I deposit a
> paycheck, I simply code the net depoit as "Net Income." No taxes, IRA
> transfers, healthcare premiums, mortgage principal, interest, etc. On
> a regular basis (quartery or yearly), I might do several bulk
> transfers to bring my asset and liability accounts up to date.
>
> My reasoning behind this is that, on a daily basis, I don't care that
> I paid $250 on my $89,000 mortgage. or $22 in Federal income taxes, or
> $15.23 in interest on my student loans. I barely care how much of
> these categories I pay in a year. What I do care about, though, is
> knowing how much cash we have right now, how much we're going to need
> in the future, and (most important) being able to confidently share
> that information with my wife.
>
> Does anyone have any opinions about this?
>
> Thanks.
> Joseph
>
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap