Net Worth
Good Info I've Collected
- Debt Calculators and Debt Reduction Resources
- Financial Calculators
- Free Stuff
- Increasing Your Income
- Keeping Motivated
- Living Frugal
- Random Money Saving Tip
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If you use Quicken and use an Enveope Budgeting System, you may be interested in a post I finished last night on I’m a Quicken Head:
How to Track an Envelope Budgeting System in Quicken
And for more Quicken Hacks, you should check out this article of 25 goodies that J.D. at Get Rich Slowly compiled:
Quicken Hacks: 25 Hints, Tips and Tricks
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About This Site
Credit Card Debt
- Starting = $37,614
- Paid Off = $28,882
- Current = $8,732
- $25 ING Savings Bonus
Savings Account
- Current = $4,000
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Posted: May 17th, 2007 at 10:10 pm
I like the idea of this system, and yet the thought of creating all these different accounts for stuff was starting to annoy me. I hated setting up Quicken the first time, and I find adding a new account can be really irritating. (But I get annoyed easily by computers since that’s what I do for work. Fix them.)
Any ideas on how this impacts your reports in Quicken?
I am thinking of upgrading to Quicken 2007 since i’m still using 2005. If I set everything up new, I might try this system out.
Posted: May 17th, 2007 at 10:58 pm
Hi mapgirl - yeah, the thing about Quicken is that you can make it as complicated with accounts as you’d like
I’m just a bit of a Quicken nut sometimes LOL.
As for the reports, this system will impact the Net Worth report and any report that you run where you want to see transfers between accounts. All of these envelope cash accounts will show up. When you run your income and expense report, these accounts will not show up. However, the spending in each envelope will be captured in the report.
Posted: May 19th, 2007 at 1:50 pm
Hello. I do not use either method–but I like a budget that will fit on the back of an envelope.
Posted: July 20th, 2007 at 7:03 am
I’m actually scared of quicken now, and I’ve switched to KMyMoney. It’s a lot simpler, and it doesn’t force me to upgrade when I don’t want to. I don’t think that business users will find it very useful, but for my home use it’s great.
Posted: July 20th, 2007 at 7:26 am
Yeah I use quicken. One of the most rewarding things for me is to see my Net Worth graph….. its in the Insights button on quicken. Can be a bit of a pain in the ass to constantly update it but once yer in the habit its soooo rewarding!