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Help with finances please!! Is there such an app where I don't have to enter every purchase and it does it for me?

(12 Posts)
Candlefairy101 Sun 04-Jun-17 11:32:49

Or have I made this up in my head!!

I don't use my phone as much as I should with regards to diaries and reminders etc, but that's another thread, because I find it easier to use a pen and paper but with finances I would have to type in excel anyway or a calculator so thought if I'm going down the technology route what's the easiest way?

Candlefairy101 Sun 04-Jun-17 11:35:09

Oh btw something that my husband and I can both use?

eyeoresancerre Sun 04-Jun-17 12:42:51

I d

eyeoresancerre Sun 04-Jun-17 12:44:11

Erm not sure what happened there but I just came on to say I would like something like this too as life is busy and I forget to note down all the little bits I buy that wouldn't appear on statements.

lougle Sun 04-Jun-17 12:46:24

YNAB has a feature for downloading transactions from your bank. It's an envelope budgeting tool. It's got a free 34 day trial so you can see if you like it.

Candlefairy101 Sun 04-Jun-17 16:38:05

What's an envelope budgeting tool? Sorry I'm so dump when it comes to this stuff!

This is out 1st family home, we moved in September. I have a 6yr, 2yr and a 1yr shock my life really needs to be simpler!

Candlefairy101 Sun 04-Jun-17 16:39:16

Does anyone know what the 'money supermarket' app is like? You can connect multiple accounts to it, so I thought that could be my husbands and mine, his credit card

Candlefairy101 Sun 04-Jun-17 16:40:49

Eyesore, exactly like that! I've written down the direct debits but I haven't got time to go through everyone's receipt or if just rather notblush

IffyTiffyMiffy Sun 04-Jun-17 17:36:43

The one from money supermarket is One Trees - I love it

BzyB Sun 04-Jun-17 17:39:34

I think I read somewhere ( probably mse) that giving your details to a third party - the app - is a breach of your agreement to keep yourself protected. It was a few years ago but maybe something to look into before you do it. I never did (and didn't get the apps either)

Candlefairy101 Sun 04-Jun-17 18:06:48

Bzyb, can I ask how you go about budgeting, do you just once a mont write down your in and outs etc?

lougle Sun 04-Jun-17 21:36:18

An envelope budgeting tool means that you can take your income and allocate it to different 'pots' within the app so that you can decide how you want to spend your money.

For example, if your income is £100, you can decide that you want £20 to go for food, £20 to go for petrol, £10 for gifts, £30 for rent, and £20 for other bills. In YNAB, your budget screen would have a line ('category') for each of those items so you could allocate the money, then you can choose to either input your transactions as you spend money (preferable, so you don't overspend) or download the transactions from your bank once they show up in your account. You assign them to the relevant category (so for e.g. 'Xxxx Council £999.99 would be assigned to the 'Rent' category) and then that amount will be deducted from your budget total. In time, YNAB learns which transactions come from which category so the workload reduces.

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