As much as so many of us talk about money, cost of living, investments and other money-related matters here in the Philippines or back home “day dreaming” about the Philippines, it’s amazing to me just how few of us keep very good track of our money.
I had this driven home to me several times when I wrote articles here on PhilFAQS about daily costs of living here in the Philippines and realized I really didn’t know where some fraction of my money really had disappeared to.
And of course, come tax time … especially when the statements from some of my Internet income roll in … Wow! do I have to pay tax on all of that or can’t I find some legal expanses that will offset at least part of it?
There are a lot of solutions to this problem, from careful work with a pen and paper, logging each expense to software that works on your computer to a couple very slick online solutions.
Paper and Pencil:
For many of us, you just can’t beat the old pen and pencil when it comes to keeping track of your finances. here’s my recommendation. Dome Publishing has been in this business for close to 50 years, they know how to provide good value, they know which records need to be kept, and they are inexpensive. This book, a personal favorite, is under $5.00 brand new … surely your personal budget is worth that much organization.
The most experienced in the business
On Your Own Computer:
Here’s apiece of software I have come to find invaluable. It sits right on your own personal computer (no worries about Internet security), runs on PC’s, Linux and Macintoshes and comes for the whopping price of Zero dollars and zero cents. There is a cost, though, the author requires that as a condition to using his software, you have to care. Sounds pretty reasonable to me. You might also spend a little time on the author (Paul Lutus’) site. He can clue you in on interesting questions such as ‘Why is the sky dark at night?’ (think you know? … I’ll bet you don’t). Anyway the software is light, fast, efficient and totally free, so one simple download and there will no longer be a reason to ‘not know’ where your money went.
Online:
Here are two slick, web 2.0 style applications you can use totally free. Both will 
track your bank balances, keep personal and small business-related records and in general bring you into the 21st century with a smile on your face. Free to try and free to use. Outright.com And one a little more oriented to personal use only. Mint
Hi Dave – I’ve been using Quicken for Mac for many, many years now. It takes some discipline to use a program like that but it’s become very much a part of my normal habit. It isn’t perfect but I’ve got it tied into some of my banks and pay bills through it, so I doubt I’d change anytime soon. It’s not only great for knowing where your money goes, but where I sit exactly with my finances in an up to date manner.
I’ve heard good things about Mint, too.
.-= Randy C´s last blog ..The Amazing Coconut =-.
Qucken is a great choie too, Randy. I didn’t mention it for two reasons … people seem to like ‘free’ better than ‘pay’, and that PLCash I recommended? To me, that program is alot like Quicken was back in the pre-web days, when it didn’t have so many visual gee gaws and such, and just kept good track of your bank balance. Doesn’t matter though, my message is use Quicen, use Mirosoft Money, just use something to keep track. Thanks for dropping by, Randy