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Best budgeting app

4 replies

blackcat86 · 31/03/2019 19:00

I've made a budget spreadsheet for 2019 to help get an idea of what we have avaliable for food shopping, clothing, fun etc as well as accounting for essentials. I'm trying to keep on top of it as mat leave has sapped our savings (the budget went out the window when DD was ill with the travel, hospital parking, extra therapies that could help etc) and we still have a few thousands in debt although it's on a 0% deal. I'm after recommendations for a really good budgeting app to help keep on top of it. It needs to be UK friendly and ideally free. I would rather something I can start afresh each payday (monthly) as a lot of them have a running total which is quite confusing.

OP posts:
Gammeldragz · 31/03/2019 20:01

I love YNAB but it isn't free.

BarbaraofSevillle · 01/04/2019 10:43

I'd use the Moneysavingexpert money makeover to get the best idea I could of how much the household spends in different categories and then separate the money out accordingly. You can move money around on payday into appropriate accounts, such as:

An account for all the fixed monthly costs like mortgage, council tax, utilities etc.
Savings for annual and irregular expenses like Christmas, insurance, holidays, broken cars, pets and household goods etc.
Long term/emergency savings for illness, redundancy etc
Day to day family spends - food, travel, days out, ad hoc family expenses. You may wish to separate these out between essential and discretionary - it's up to you.

We do all our spending on a credit card that is paid off every month from the joint account and earns cashback and I do a bit of 'behind the scenes' accounting to separate his/hers/joint expenses.

Finally, what's left is split 50/50 for adult personal spending, on a when it's gone, its' gone basis.

You might be able to download a year's worth of transactions from your current accounts and any credit cards, to try and work out the food, travel etc spending as it's often all categorised, although some of the categories are a bit weird, eg I think McDonalds comes up as 'entertainment'.

wheretoevenstart · 01/04/2019 15:26

Bank account rather than app but we find Starling very useful for short term savings pots such as christmas/pets/car insurance etc. It allows you to create as many as you want and move money into them which then doesn't show in your available balance but can be instantly 'withdrawn' when you need it. It might complement your system.

blackcat86 · 02/04/2019 07:11

Thanks for suggestions. DH is raving about starling so I might look at this for xmas or holiday funds. I'll check out the budget apps.

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