What tool/app you guys use to manage personnel finances?

Status
Not open for further replies.
G

Gaurish

Galvanizer
I want to know how do you keep tabs on things like

  • How many friends owe you & how much?
  • How much you owe them?
  • Sending out *polite* but sticky reminders via SMS/FB/Email? Currently, I avoid calling as it makes me look cheap, although its my money I am asking to return:@

I often forget these things:P And I assume, I am not the only one.

so everyone, do you memorize or write or use some tool/aap? Please share your methods
 
Gaurish said:
I want to know how do you keep tabs on things like

  • How many friends owe you & how much?
  • How much you owe them?
  • Sending out *polite* but sticky reminders via SMS/FB/Email? Currently, I avoid calling as it makes me look cheap, although its my money I am asking to return:@

I often forget these things:P And I assume, I am not the only one.

so everyone, do you memorize or write or use some tool/aap? Please share your methods
Click to expand...

1: never give to those who dont give back on time. they will make you look like a looser when you keep calling them again and again for your money.

2: never borrow money from others. They'll keep calling you again and again regarding it and make you look like a looser who cant keep tabs on your monthly spending.

3: you wont have to bother with this if you keep 1 and 2 in mind. if you do give out money, and the person avoids you and makes excuses, calling him up does not work, just tell him you'll ask his parents for it.
 
Using reminders, but of no use.

Tried callin on different number..

To be frank, giving money breaks the realationship.:banghead: lost some, still not attending the call.

Sent from my SK17i using Tapatalk
 
I don't loan money to friends. Quite frankly there is nothing like a loan of money or any other money matter to turn a friendship sour. Have seen instances of loans breaking the best of friendships. If your friend gets angry because you refused a loan, then he was never your friend in the first place.

If I do wish to help a friend who is in dire need, I help them without expectation of getting anything back. Its fine if they want give back, but even if they don't, I never expected them to in the first place.
 
I use an app called Share-A-Bill on my iOS device which i use to share the monthly expenses incurred with the roommates. It has many features like mailing the calculations in a table format, adding people and custom contribution percentage. I used to take 30 mins to 1 hour in an excel sheet. Now i can finish the same work in under 15 mins.
 
Check out expensure.com. I have been in the same situation as you are now. I would ask once or twice to return the money back. But if they don't respond, i would be a little shy or whatever and stop asking.
<
But somewhere deep inside, i would be sad for losing money like that. Be it a close friend or just a normal friend. Money is money
<


I have been using expensure for over 6 months now and it was always very helpful. A perfect one for flatmates (If you have any).
 
I just use MS-Excel. It can be dynamically set up. So I input my salary input, and then the expenditures. Shows me how much I am left with.

Speaking of debt:

Better not to indulge in this. I have like 70K of debt, money which people owe me. Really bad. Be it relatives or friends.
 
I've been using Intuit Money Manager from MoneyControl.com & Intuit; costs about 400 bucks a year Links all your accounts in one place including Stocks / Mutual Funds. Can Pay your taxes directly from there. I think there is a trial available. the best Finances Mangement software i've used so far.... As i forget to update my excel sheets from time to time & then i forget where i used the money
<
 
Well... i give all the accounts to my dad and we maintain this in tally. not reommended to use for personal stuff as it costs a bomb:). But we have our money scattered in a lot of places and no other software can server the purpose

just to explain further...we have more than 350 account headers:( in which each of the expenses can go. All this done for personal accounting!!!
<


BTW: when I go on trips with a friend...we have made a custom xls with macros which calculates eacuh persons share and calculates the final amount. just enter how much u have spent and who all were involved and u get the total on who-owes-whom-how-much at one shot
 
aasimenator said:
I've been using Intuit Money Manager from MoneyControl.com & Intuit; costs about 400 bucks a year Links all your accounts in one place including Stocks / Mutual Funds. Can Pay your taxes directly from there. I think there is a trial available. the best Finances Mangement software i've used so far.... As i forget to update my excel sheets from time to time & then i forget where i used the money
<
Click to expand...

I would strongly suggest you to try www.perfios.com. Very wide support to many stock brokers and mutual funds. Perfios downloads your holding as well as transactions. Almost all mutual funds are listed with it. In Intuit, you have to manually enter all details of your mutual fund investments.

I queried to Intuit about their limited support to many financial institutions and got this reply:

As of now not all mutual fund institutions are supported. Some brokerages like ICICI Direct, HDFC Securities, Sharekhan are supported. However, IMM downloads only the balances and the transactions for such investment accounts. Holdings data is not downloaded.
Click to expand...
 
I will agree with everyone who said never give to those who don't give back on time &amp;amp; never borrow money from others. Makes sense

To sum up, Three types solutions have been proposed
  1. Excel Sheets: Can anyone share the format/sample of excel workbook they use. Offcourse, you can need all personnel data. Just need the a sample.
  2. Notes:This is what I have been doing till now &amp;amp; frankly, it gets messy soon as numbers of transaction increase. Also, things like like Total sums,Date,time have to manually done which is not hard but still can be inconvenient.
  3. Webapps: Services like expensure.com(Free), billmonk.com(free), Inuit Money Manager(Paid): seems promising but This is something I need to give a try. If people are using any of these or any other. you are welcome to share your experiences

asingh said:
Speaking of debt:

Better not to indulge in this. I have like 70K of debt, money which people owe me. Really bad. Be it relatives or friends.
Click to expand...

asingh said:
I just use MS-Excel. It can be dynamically set up. So I input my salary input, and then the expenditures. Shows me how much I am left with.

Speaking of debt:

Better not to indulge in this. I have like 70K of debt, money which people owe me. Really bad. Be it relatives or friends.
Click to expand...

gREen said:
Using reminders, but of no use.

Tried callin on different number..

To be frank, giving money breaks the realationship.:banghead: lost some, still not attending the call.

Sent from my SK17i using Tapatalk
Click to expand...

6pack said:
1: never give to those who dont give back on time. they will make you look like a looser when you keep calling them again and again for your money.

2: never borrow money from others. They'll keep calling you again and again regarding it and make you look like a looser who cant keep tabs on your monthly spending.

3: you wont have to bother with this if you keep 1 and 2 in mind. if you do give out money, and the person avoids you and makes excuses, calling him up does not work, just tell him you'll ask his parents for it.
Click to expand...

Tell me about it! I have sailing in same boat, I have about 20k debt that different people owe me. I already asked multiple times, thinking of doing something more. But now I get shy to ask for it thinking that it would break our relations
<
 
Gaurish said:
Tell me about it! I have sailing in same boat, I have about 20k debt that different people owe me. I already asked multiple times, thinking of doing something more. But now I get shy to ask for it thinking that it would break our relations
<
Click to expand...

That is the thing. It becomes embarrassing to reverse ask.
<


Will try to put up the Excel sample.
 
Gaurish said:
Tell me about it! I have sailing in same boat, I have about 20k debt that different people owe me. I already asked multiple times, thinking of doing something more. But now I get shy to ask for it thinking that it would break our relations
<
Click to expand...

If you have loaned to friends you need to think about what is more important, the money back or the friendship. If friendship is more important, forget the money and don't ask for it even again. He would himself feel guilty after sometime and return it on their own (personal experience). Obviously never lend to them again. Now if maintaining the friendship is not that important wait for an opportune time and bring up the topic when maximum number of your common friends are present and embarrass the shit out of him. You might not get your money back but in the process, you would have warned other people as well about his credit rating.

If loaned to a family member forget about ever getting it back. You would not be able to do anything, even if you confront them. If they would have meant well the money would have come back the instance you had asked for it. Just make a rule never to loan money in family. You can always make new friends but you can never replace family.

As others have already said, it is best never to lend money to friends and family or anyone else for that matter in the amount you cannot forego. Better to be bad once by refusing to lend than be bad forever asking for it. Just say you don;t have that much with you at the moment and offer to help them out in some other way if possible. You save face and in the process save you ass as well. Chamdi jaye pur damdi na jaaye
<
 
Another vote for MS-Excel. Now only if I can use my iPad for editing the excel file without having to pay more than $3 for an app to do that.
 
Status
Not open for further replies.
Top Bottom