Tuesday, May 29, 2012

Tracking My Spending

Tracking my spending has been very difficult. I have tried different methods and nothing seems to stick. I think now I have found the solution.

Mint did not work for me. I had a love/hate relationship with Mint. I started using it and I loved it, until I started to get paranoid about having all of my accounts linked and all of this personal info given to this website. I mean my entire financial life was on this thing. Another thing that started to get to me was the fact that it would not update very often or accurately enough, I don't know why it had a hard time linking up to my bank. So I gave it up, then after a few months I got back on it and then I gave it up again about 2 months ago.

EBBA is the envelop system, except for it's a website and an app. I paid $5 for this service! I was convinced it was going to work for me, until I didn't. I just had a hard time tracking my spending and I was not able to get used to jotting down everything I spent on my phone after every purchase. I don't know why. Plus it did not automatically connect to my bank account, which mind you was the reason why I got it. It was very difficult for me at least, I really like the concept though.

Now I have 2 checking accounts, I have all of my bills coming out of an account I call "Fixed Expenses" and  I have a debit card for and account I call "Variable Expenses". I just started this early this month, but so far this seems to be working for me! I like not having the stress of having all of my money into one account and then not knowing if I'm spending my bills money.

What tracking methods have worked for you?

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