Hi Guys
I just wanted to know if anyone knows of a good book or url that can direct me in creating a personal budget.
And maybe even a software package that can keep track of it.Thanks in Advance
I like “Unlock the Secrets to Your Money Personality and Change Your Life” by Greg Smith.
He’s also got a website: http://www.moneycafe.com.au
As for keeping track of things, I use Microsoft Money. It’s affordable and easy to use (although it’s a bit quirky at times).
Cheers
Elysium-MI use an Excel spreadsheet which auto-cals monthly/annual figures and is easy to customise to your own personal income/expenditure lines.
Am happy to email a copy (blank [
]) to anyone who wants a simple straightforward budget tool.As for accounting – I use Quickbooks and set it up by allocating each property or investment to a ‘class’ which gives me the option to print P & L for each investment as well as an overall P & L + Balance Sheet. QB is easy to use and I’m happy to standby with advice for software use.
Cheers,
A” plays well with others
… but sometimes runs with scissors”Hi,
I’ve just used an excel spreadsheet (with no magic formulas). I just add up all my annual expenses (mortgage repayments, petrol, insurance, rego, mobile, telephone, water, electricity etc) and am left with an annual surplus which is for spending money and unexpected expenses. This annual surplus is then divided by 52 which leaves me with a weekly budget for spending.
CheekyOldBat, i’d love a copy of your spreadsheet if thats not too much trouble [
]. Please email to [email protected]Kim
Hi Guys,
You can also try going to http://www.downloads.com and do a search for personal budgets on there. There should be some free software, or trial software that you can test.
Cheers,
sisIf you are seriously looking for information to aggresively decrease your debt …. try
http://www.johnburley.com/free_downloads.html
Worked for me!!!!
Cheers,
Kiwi [:o)]Speaking of Microsoft Money, I have it on my new PC and have just started entering all of my transactions since jan 1 2004.
Its a good program if you can “obtain” it somehow [:p]
[:o)]
Thanks Kiwi.. downloaded and printed
will read when i’ve got time : )
PS- NOEL WHITTAKERS SITE has free budget planner Too
http://www.whittakermacnaught.com.auREDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Microsoft Money is only about $50. Cheaper than many investment seminars…
DIY Residential Property Settlements in WA – the book coming soon! When I can get my act together…
I found this Lazy Budget many yrs ago and always use it as a quick cross reference to see how things are tracking.
10% Pay yourself
25% Housing
20% Food & Drink
10% Transportation
15% Debt
5 % Recreation & Vacations
5 % Healthcare
10% Everything Else(My sincere apologies to the author but I can’t remember where I got it from to give him/her the credit) [
]Cheers,
A” plays well with others
… but sometimes runs with scissors”Originally posted by CheekyOldBat:I found this Lazy Budget many yrs ago and always use it as a quick cross reference to see how things are tracking.
10% Pay yourself
A good start but double or triple this if possible.
25% Housing
If phone & electricity is included it could be more like 30-40% of total. But if you own your PPOR it’s less. Note that as you cut out other things this proportion of total expenditure will increase.
20% Food & Drink
About right. Though note all drink expenditure (except milk) is discretionary and this presents a huge opportunity for saving.
10% Transportation
On the low side, especially for people paying off cars. If you use public transport only 10% might be OK.
15% Debt
Should be zero – make the ‘Pay Yourself’ 25% and forget about budgets!
5 % Recreation & Vacations
Reasonable. Can make this 5% go further if you take your holidays in places where you’re buying IPs so your fares come out of the IP budget!
5 % Healthcare
OK for most people, though I must admit my own proportion is nearer to 0%. Higher for people with special needs.
10% Everything Else
If it includes clothing, furniture etc that is reasonable, especially if you’re like me and use the hard rubbish collections (remind me to go to the timberyard to get a top cut for the table I found yesterday!!!). Presents – yeah well I’ll keep these under a few hundred and wrap in newspaper – won’t blow the budget!
But that proportion is a bit lean when you consider other things. Therefore if you’re into budgeting (which I’m not) I’d want to make allowances for:
1. Culture, education and books (or incl in Recreation)
2. Charity (set a minimum amount and increase in future years)Regards, Peter
]) to anyone who wants a simple straightforward budget tool.
]. Please email to 
]
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