There's a reason I'm thinking about money today. OK, three of them.
1. I finished paying the last round of bills for 2008 last night. Car insurance, life insurance and some medical bills left me with less cash in reserve than I'd hoped and I haven't even started to think about...
2. Christmas shopping. Seriously. I'm baking some tasty treats and making the ancestral eggnog. That's enough to please everyone on my list, right?
3. Taxes. I have not been stellar at keeping all my financial records organized this year, so tax time (which is going to start any week now) comes with a lot of sorting and figuring and tracking things down. Every year, I have intentions of getting this done before April (and being more organized next year). Maybe this year?
I'll bet there are a few of you also thinking about money today. I find it easy to cut back on wants and even squeeze the budget on my needs. I also try to set aside some funds to donate to my favorite causes throughout the year. But I'm definitely not saving as much as I should.
My biggest challenge, however, is tracking my personal finances. I used to be obsessive about it. I compiled monthly, categorized reports just like I would for a business. I think I slacked off when I started using my debit card more than my checkbook, because it added an extra step: Recording my debit purchases in my check register. I mean, when you're writing a check, the pen's already out, so it's no big deal. But when I use the debit, which is much faster in the check-out lane, I just stuff the receipt in my wallet and tell myself I'll jot it down when I get home or over the weekend. (Right...)
Don't get me wrong. I know where most of my money is going and I'm living within my means. But I want to get back to being really on top of my finances and finding ways to get the most out of my paycheck.
One of my Tweeps (that's a person you follow on Twitter) recommended Mint.com. It's free, Web-based financial software that promises you won't have to do a lot of data input after the initial set-up. Looks promising.
I've used various accounting software, like Quicken, in work settings. But I don't really want to shell out the dough to buy a personal edition. The free money software on my computer is more of a hassle than a help. Of course, there are those self-created spreadsheets that I used to do in Excel or (gasp) by hand.
What works for you? How do you track all your dollars and cents? What tricks have you learned for saving more? How about keeping organized for tax time (without the benefit of an accountant)?
Here are some more people thinking about money today:
Ben Bernanke
Iowa state lawmakers
U.S. automakers
Bandag employees in Muscatine
