Best long term Budget apps or measures

pieorstrudel5 · 2023-08-14T03:41:25+00:00

YNAB.

AutoModerator · 2023-08-13T23:40:35+00:00

Title: Best long term Budget apps or measures

Full text: Hi all!

This doesn’t have to be only for those married, but do want to clarify that’s my current position/pov.

I just graduated in engineering but can’t work due to my green card being in process. It’ll probably be anywhere from 6-9 months before I can work.

I’m going to become a stay at home wife for the time being (might start a masters if I get most of it paid by scholarship so it’s tbd still)

I graduated without debt (yay) but that also means my savings aren’t huge (about 7k + last payout from current internship around 13k in total)

Husband makes about 8.6k after taxes per month but we do live in HCOL city.

I obviously know how to work a budget and we have a budget we are currently working with. However, we haven’t been as accountable as we used to.

Now that I technically won’t be bringing in money.. I wanted to have a more active role in taking care of finances (he told me he is fine if I take over our accounts etc)

We were also wondering… is hiring a financial advisor for long term plans good? Has anyone ever tried it out?

Recommendations for apps or systems you’ve used to manage your household? Some apps can be so more time consuming

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ArkNemesis00 · 2023-08-14T00:54:56+00:00

I use this spreadsheet for net worth/income/expenses.

For a more detailed expenses breakdown I just go through our credit cards and bank accounts and type everything into excel. I categorize it and we go over the numbers together.

In my opinion, a financial advisor for a middle class household made up mainly of retirement accounts is overkill.

Invest in broad market index funds or ETFs, look up some general rules for stocks vs bonds allocations on r/personalfinance. If US based, max out your retirement accounts in this order: 401k matching, HSA, IRA, 401k. Roth over Traditional if you're in the 12% or 22% bracket. This is very general advice, and I'm not a professional. But the fees paid to even a "cheap" financial advisor are significant enough that as long as you get the basics right, you're better off without the advisor.

JustaTcup · 2023-08-14T03:02:20+00:00

I just find keeping track of everything on paper works best for me. To actually HAND-write those numbers hits my head harder.

Be careful of lifestyle creep. Don't spend more just because you earn more.

Budgets are simple. Keep track of money coming in vs money going out. Input vs output.

You want at least 10-15% of total input to go towards saving. More is, of course, very ok.

Then add up all monthly expenses. And don't forget to take yearly expenses and divide by twelve for expenses that only happen once a year to get a monthly amount for them.

Don't make it too complicated. It's really simple math and simple columns vs rows. If you have too many rows, you are most likely spending too much money on unnecessary items.

East-Donut8083 · 2023-08-14T08:43:01+00:00

Wealthposition is brilliant software app to manage all personal finances, budget, and short and long-term finance planning. If you understand the concept behind the software there is so much more you can do with planning your future finances

mm_fan · 2023-08-17T01:59:00+00:00

Dave Ramsey’s app - Every Dollar!

Title	Best long term Budget apps or measures
Author	LocalCap5093
Upvotes	4
Comments	8
Date	August 13, 2023 11:40 PM UTC (3 years ago)
Subreddit	Posted in /r/RedPillWomen
Original Link	https://old.reddit.com/r/RedPillWomen/comments/15qe26z/best_long_term_budget_apps_or_measures/
Archive Link	https://theredarchive.com/r/RedPillWomen/best-long-term-budget-apps-or-measures.1228127 https://theredarchive.com/post/1228127

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