Simple Home Budget is different from other personal finance tools. The main goal of our application is to make it work for you, not you working for it. We had to break some common conventions about how personal finance applications are organized, so you can use your computer for what you need to manage your finances.
First of all, the “budget.” Simple Home Budget provides no budget table, yet it stands for a “budget” word in its name. Yes, you can do your budgeting without budgeting at all. That was our goal – to get rid of those budget amounts you will never manage to follow with your unpredictable real life, so you don’t have to fix those numbers when returning tired to your home.
Recurring transactions will give the budget figures you need – just create recurring transactions for all expenses you have on a regular basis – and that’s it. Now Simple Home Budget will create those transactions when their time will come and use that information to calculate your budget – expected expenses and income and as well as expected net income. Together with actual transactions, Simple Home Budget gives your reality with the future – feature that budget table cannot give. You will also have some recurring transaction, not every month (every third month or every quarter), so with a monthly budget table, you have always to adjust it, but not recurring transactions with their schedule for each transaction.
Still, Simple Home Budget provides you the most crucial and important budget figures – your money coming in should not exceed the money coming out for any specific month. And still, again we have to deal with the reality of life – sometimes you have to fix your car unexpectedly, and you have to spend more than you earn this month (or previous month, or just amount you allow yourself to spend). You still have to move on with your car fix and everything else your life will surprise you with. You can put that purchase on your credit card or credit line and pay it out in three months for the cost of your morning coffee. And Simple Home Budget will be there for you – to record, plan, inform you about your “financial temperature” and the most important – help you to manage your finances, but not to tell you that your budget for the category ‘Car’ is exceeded.
About accounts in Simple Home Budget (savings, cash, etc.). Your money is your money no matter where they are. If you have $1000 in cash – you know about it, and when you spend it – you know you no cash left. What you don’t know (or have to put all together to know) – know much money you have (on all your accounts). Earlier versions of Simple Home Budget had accounts, and to keep right balance on every account, we had to record expenses from Visa, from bank account to pay Visa, from savings to cash, from cash to expenses… Doing this requires a lot of your attention, and the whole model will fall apart if you don’t do everything properly. But Simple Home Budget is a simple application for home use – to help you manage your finances, not manage your finances with your help (and time).
Try and see how Simple Home Budget can help you manage your finances. Maybe you won’t have to come back to those financial tools that manage your finances for you with your help.