However, just because spreadsheets can do this, it doesn’t mean it’s a good use of our time to use a spreadsheet for this repetitive drudgery. On one hand, spreadsheets can perform the “what-if” calculations needed for steering future spending behavior back toward budgeting goals. This is a profoundly frustrating and inefficient use of my time.
This requires repeating the data entry already in the budgeting tool in order to update the spreadsheet so I can see the impact on my future cash flow and calculate adjustments to my spending plans to compensate.
#You need a budget tutorial how to
When spending does not go according to plan, I find myself slogging through my budget forecasting spreadsheet to figure out how to adjust my future spending behavior to get back on plan. You need a Thinking Budget … and a FORECAST
If my GPS behaved like the typical budgeting app, it would stop working as soon as I took a wrong turn. If the GPS app we used for our road trip had limitations like this, it would stop working if we took a wrong turn. Instead, they tell us that we have run off the road, without providing any hints about how to get back. What is missing from all these apps, however, is course correction- guidance about how to get back on track when our actual spending doesn’t match our best intentions. This planning process helps us decide what we want to do–just like it is a good idea to look at a map before jumping in the car for a long trip. These apps have a budgeting feature to define spending and savings goals, then compare actual spending to these goals. There are many apps like these, and they can all tell you what you did with your money. Budgeting tools like Mint, Quicken, You Need a Budget (YNAB) and others can track spending transactions just fine.
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