Married Couples: How do you manage/keep track your finances??

posted 3 years ago in Money
Post # 3
Member
13019 posts
Honey Beekeeper
  • Wedding: June 2011

I used to use Microsoft Money, but then DH signed us up for mint.com.  I was hesitant for the same reason, but I think its’s safe.  There isnt much to track or do though, we just use it for fun.  If we need to see any specific account, we just log on that that account to check it out.

Post # 4
Member
2122 posts
Buzzing bee
  • Wedding: July 2012

I created a spreadsheet to use.  It just breaks down our spending into 6 categories: Groceries, Fast Food/Eating Out, Clothing, Gas/Cars, Rent, Miscellaneous. I then have an income column where I enter in what money we bring in that month.  I just enter in the money into the appropriate category as I spend or earn it and it calculates what percentage of our earnings is going into which category and how much should be left in our bank account.  I take 50% of whatever is remaining and move it to savings.  It’s a pretty DIY method of money managing, but it works for us. It helps that I manage all the money and DH just doesn’t care either way how I do it.

Post # 5
Member
3210 posts
Sugar bee
  • Wedding: January 2014

Not married yet, but we already have combined finances and nothing will change after the wedding.

We use Mint.com to keep track of our monthly expenses. Then at the end of each month I put the key info (how we did in each budget category, how much extra got transferred to savings, etc) into a Google doc spreadsheet. I also keep running totals in the spreadsheet of specific things we’re saving for (e.g. our student fees each semester, holiday gifts, upcoming trips, whatever).

We don’t really keep track of investment/retirement stuff. Honestly, we try to pretend that that stuff doesn’t exist!

Post # 6
Member
3618 posts
Sugar bee
  • Wedding: October 2013

@HereWeGo:  Our bank actually has an online set up for us to manage! However, we also keep a folder to keep track of budgeting and spending 🙂 

Post # 7
Member
8426 posts
Bumble Beekeeper
  • Wedding: April 2013

online banking and excel.

Post # 8
Member
5204 posts
Bee Keeper
  • Wedding: April 2013

I use a spreadsheet.  There is lots of great financial software out there but I prefer to do it myself becaue it allows me to know the numbers a little better.

The two important sheets in my spreadsheet are 

1) Income statement.  This lists all of my income and expenses

2) Net worth sheet.  This lists all my assets and liabilities (debts).

This is a great system if you are focused on tracking spending and on growing your net worth.  It doesn’t address cashflow, which is the primary concern for many people.

Post # 10
Member
7281 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

I keep track in my head on day-to-day expenses and bills, we have regular discussions about money (progress in meeting our savings/investment goals, anticipated upcoming expenses, unplanned splurges, etc.), and we meet with our financial advisor at least once a year to do a big review.

Post # 11
Member
4834 posts
Honey bee
  • Wedding: September 2013

We don’t use any formal program. We have thought about it, but we aren’t really that type. We can log in to each other’s bank accounts and have some combined accounts too, and are very open about money so it hasn’t been an issue. We are in the process of getting rid of the individual accounts so all of our spending money is in one account, but it’s taking a while!

Post # 12
Member
2878 posts
Sugar bee

@HereWeGo:  My bank has an online service that does this for me. I also have a spreadsheet that I did myself to settle my budget that is very detailed. 

Post # 13
Member
671 posts
Busy bee
  • Wedding: August 2010

Right now, we have a spreadsheet budget that we revisit monthly to follow up on or adjust.

 

I pay the bills, husband keeps track of the bank account, if something is off, we will discuss and remedy it. Works for us.

Post # 14
Member
11668 posts
Sugar Beekeeper
  • Wedding: November 1999

We just talk about it regularly. We created a budget now that baby is on the way, but I don’t forsee us using it all that much to be honest. But, we will see.  Our expenses right now have been pretty predictable so we don’t need to keep track on a monhtly basis – we both spend roughly the same each month. We have a sizable amount of savings, so if something comes up unexpectedly it’s no big deal since we aren’t living paycheck to paycheck.

Post # 15
Member
299 posts
Helper bee
  • Wedding: June 2014

I keep super detailed records of my finances. Have for about 5 years now. I know where every penny goes, have everything budgeted and planned out (not that I always stick to that plan) but I can forecast everything 6 months in the future. It makes me feel secure knowing when bills will come in, about how much they’ll be, and being confident I’ll have the money. Knowing that if I put extra toward my credit card now I can still pay my car insurance with cash when it comes due in 2 months. And I like being able to roll everything up and look at our combined net worth. 

 

Right now I use buxfer.com to track everything and I love it. I have access to my and fiance’s accounts and bills online and just go to buxfer every day or couple days to update it. It breaks everything down into categories (that you create and assign) and has tons of ways to review your spending. It also has the great feature of letting you manually add things or download data from your bank and then upload it. I tried mint.com but one of my issues was that it needs your bank login and password. Not sure how secure that really is. Buxfer doesn’t know any of my bank info and only knows my full name because I gave them my credit card info to pay for the pro version.

 

I spend a few dollars a month to use the site but for me it’s worth it. Super accurate, easy to use, and I can access it from anywhere. There’s a free version (limited number of accounts) if you want to try it out. 

 

Post # 16
Member
6525 posts
Bee Keeper
  • Wedding: September 2013

@HereWeGo:  I use an excel spreadsheet

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