Pick Four: Organize our finances

How do I achieve this goal?  Completing IWTYTBR’s Six Week Plan.  What I’ve completed so far?  What I still need to complete?  What I doing?  What software I’m using and why?  How are things going so far and what do I need to still do?

Today, I’m talking about my second pick four goal which is to Organize Our Families Finances.  For a while now my wife and I have just kind spent and saved.  I had a simple system set up but neither us paid much attention.  All of this changed once we decided my wife was going to leave her job so she could stay home and take care of our young son.  With our income decreasing by a third it time to create plan and starting thinking about how and where we spend our money.  A lot of people bad mouth budgets because there boring and time consuming but I’m trying to find something that we can stick with.  I’ve been reading Ramit Sethi’s I Will Teach You To Be Rich book and following his Six Week Plan.  I’ve also been working to find a software package that works for our family.  I tried using the free service MINT but I’m not comfortable with them logging into my accounts to atrieve my information.  The real reason I haven’t been a huge fan of MINT is that it tries to automate to much of our bugeting process.  I find myself just looking at the accounts, where they’re categorized, and tracking my budget.  I’m not a huge fan of there budgeting process.  There is a lot of work revieiwing their processing.  In using the service consistently for the last few months, I’ve found it difficult to stick to a plan and get a good handle on our finances.  This lead me to trying YouNeedABudget (YNAB) which is all about handling your budget and breaking the paycheck to paycheck cycle. I just started the free 30 day trial and I’m trying to figure out if this system will work for me and my wife and if it’s a system that will be handle to continue using in the future.  I’m definfitly leaning in the direction of purchasing because I love the companies philosophy.  Other services I looked at talk about getting you our of debt or organizing your finances but YNAB is working to not only help people improve their financial situation but also teach them the proper ways to handle their money for the rest of their life.  

After my one month trial, I’ll let you know what my wife and I think about the service and if we decided to purchase it.