How much do you save?

[drstawl]

That's not true. Plenty of accounting systems will match transaction numbers/dates/amounts and flag likely discrepancies. Your life might be simple because you lack large quantities of uncleared transactions, but if your open check list was 700 items each month, you'd feel differently about spreadsheets . . .

I write one or two checks each month. Everything else is done on the plastic which is paid off electronically.

NO APP can tell a legitimate charge from a fraudulent charge. That's just BULLSHIT! How would they know if you bought cat food on a particular date?
And how would they know the correct amount for each unless you entered that and provided them with that information?

 

[mshilarious]

I write one or two checks each month. Everything else is done on the plastic which is paid off electronically.

NO APP can tell a legitimate charge from a fraudulent charge. That's just BULLSHIT! How would they know if you bought cat food on a particular date?
And how would they know the correct amount for each unless you entered that and provided them with that information?

*Sigh*

Because you have already entered all the information on legitimate charges, some of which you will have made errors, some of which you will have omitted (like that gas station receipt--for using their air pump for you, I guess--that didn't print out). The program will flag everything that DOESN'T match, after automatically clearing everything that matches. It can also match up transactions that likely match, but contain minor errors such as dates or check numbers. Then you just have to sort out bank errors, fraudulent charges, and your own data entry errors from a greatly reduced pool of transactions.

I'm officially giving up explaining the benefits of spreadsheets vs. relational databases. Spreadsheets are good at what-if analysis, but a relational database with a good front-end and reporting suite will kick the crap out of a spreadsheet when it comes to repetitive reporting and even ad hoc analysis. This is not controversial at all; it's the way every business in the world larger than a hot dog stand works.

If your life is so simple that you don't really even need a spreadsheet, perhaps that will not be obvious.

 

[drstawl]

If your life is so simple that you don't really even need a spreadsheet, perhaps that will not be obvious.

The spreadsheet merely tallies all the balances and gives you the net amount.

There is no need to enter the individual purchase amounts- they are reviewed online on the plastic bill. Only THAT sum is "entered" on the spreadsheet.

Fast. Fast. Fast.

700 charges? Do you shop at 23 stores EVERY day of the month?

When do you have time to actually use the shit you buy?

 

[gcapel]

I don't know about your jurisdiction, but here insurance is mandated, so if I plan on driving, paying for insurance is not an unexpected emergency expense. It gets figured in just like the rent and the electric bill.

I was refering to health and car insurance. Both policies for me in NC have 500-1000 deductables in addition to monthy premiums that have to be payed for the year before the insurance company pays on a claim. Its a rip off, but I would rather have a low premium and higher deductable.

 

[drstawl]

Both policies for me in NC have 500-1000 deductables in addition to monthy premiums that have to be payed for the year before the insurance company pays on a claim.

It still cannot be called an "unexpected" expense. The deductible- yes, the premiums, no.

 

[drstawl]

Just ran through my weekly exercise in Fiscal Responsibility.

I timed it.

It took 20 minutes.

 

[fralax]

I'm just curious as to how much people save from every paycheck they get from work. Do you have a savings account such as IRA or 401K or others in place for the retirement future?

Well, with bills/debts and spendings on recording gears, sometimes I can't even save 10% of my paycheck. What's your story?

Wow, I try to save AT LEAST 10%!

 

[Cyrokk]

lol@accounting nerd debate.

 

[mshilarious]

The spreadsheet merely tallies all the balances and gives you the net amount.

There is no need to enter the individual purchase amounts- they are reviewed online on the plastic bill. Only THAT sum is "entered" on the spreadsheet.

Fast. Fast. Fast.

700 charges? Do you shop at 23 stores EVERY day of the month?

When do you have time to actually use the shit you buy?

700 checks was the company I used to work for, and relatively speaking, that's a small amount. This was a law firm though, we probably processed 10,000 time transactions per month.

Personally, no, I don't do 700 transactions a month, but probably 200. Remember I run a business as a proprietorship though, that adds to the tally, and it means I must have itemized expense detail, both for tax purposes and so I know what is going on. But even before that, I demanded detailed expense info for budgetary purposes and general analysis.

Again, for what you are doing, you don't really even need a spreadsheet. The account balance worksheet on the back of your bank statement would work fine. Heck, be messy and do it on the front, that's what I'd do.

PS to Cyrokk: you love this thread

 

[drstawl]

Again, for what you are doing, you don't really even need a spreadsheet. The account balance worksheet on the back of your bank statement would work fine. Heck, be messy and do it on the front, that's what I'd do.

PS to Cyrokk: you love this thread

The spreadsheet serves two purposes beyond those I have outlined. It acts as a checklist for the assembly of the requisite data and the row of sums going back in time allows a simple calculation of the fluctuation of the total over time.

 

[mshilarious]

The spreadsheet serves two purposes beyond those I have outlined. It acts as a checklist for the assembly of the requisite data and the row of sums going back in time allows a simple calculation of the fluctuation of the total over time.

Get your bank to print a thick line across the bottom of your statement with the length representing your balance. Put all of your statements in a stack, and flip through them really fast. You'll see an animated view of your balance history

 

[drstawl]

Get your bank to print a thick line across the bottom of your statement with the length representing your balance. Put all of your statements in a stack, and flip through them really fast. You'll see an animated view of your balance history

My weekly updates are more accurate than the monthly stack of outdated information you mention.

I have more than one credit card and more than one bank.

 

[mshilarious]

My weekly updates are more accurate than the monthly stack of outdated information you mention.

I have more than one credit card and more than one bank.

OK, a little man running across the bottom of your statement then

Tough crowd here

 

[drstawl]

OK, a little man running across the bottom of your statement then

Tough crowd here

Wouldn't that be some sort of compromise of my security?

 

[gcapel]

It still cannot be called an "unexpected" expense. The deductible- yes, the premiums, no.

Ok mr matter-o-fact, I never said the premiums were an unexpected expense

 

[Nat DiasterUNI]

I make enough to save half of all of my checks