How do you manage your money? 10 replies

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Mikey Über Admin

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#1 1 year ago

Everything I am I owe to him

True fact


Mikey - GameFront.com - Lead Developer



FileTrekker Über Admin

I'm spending a year dead for tax reasons.

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#2 1 year ago

I mean, on a day to day basis.

For example, I have spreadsheets of many complicated formulas to try and figure out what is going out and coming in, yet I still manage to be out by a few pounds here or there.

How do you guys organise your accounts, I'm trying to figure what works, a bills account or day to day account? Are there any good apps that help with this stuff?


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MrFancypants Forum Admin

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#3 1 year ago

I don't have a very expensive lifestyle, so not a whole lot of management is necessary. I think generally when you are close to spending as much as you make a good solution is to look at subscriptions and get rid of all that are not vital.

Lately I have been spending more than I should have as I need a lot of stuff for the new flat. Also have vacation coming up. And I had a bunch of friends visiting me, so I went to eat out to the rather expensive restaurants in this city more often than normally. But that is just a phase, so I am not worried.

I'm more worried about investing what is left. I don't do that well at all. I'm thinking index fonds, but don't really find the time to learn about it.




Andron Taps Forum Mod

Faktrl is Best Pony

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#4 1 year ago

Poorly :p

Though in recent days I've gotten better at saving more and spending less.  I tend to avoid buying many new things.  Mostly I just buy food, booze, and books.


"I'd shush her zephyr." ~ Zephyr.



Nemmerle Forum Mod

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#5 1 year ago

My main account is where my wages go, that almost immediately pays my standing expenses - service charges, rent, phone bill, etc, which go out within a couple of working days of my wages going in - and serves to distribute money to the other accounts. There's an expenses account for food etc. There's the savings account. Then there's an account for spending money for the month.

I only freely spend from the spending money account. That's what it's for. Like if I want to eat out... well, if there's money in the spending money account? I can afford it. I know everything's covered, I know I have savings for the month, I know that my bills are fine. That money's not in the spending account to spend in the first place.

I don't, from moment to moment, manage my money. Sure, sometimes I look at the balance of the spending account to see whether I can afford a special treat or something - but that's not really the sense I'm getting of what you mean. Things are set up to more or less automatically cover the important stuff and whatever's left is... spend as you will.




Superfluous Curmudgeon VIP Member

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#6 1 year ago

The way I manage my money is a good analog to how I manage my life - assuming "manage" is even the correct term; with no real plan or direction except for the use of gut-feeling-based bumpers that just barely manage to keep me out of the gutter.

In laymans terms, there's no structure to how I manage my money. I penny pinch whenever possible and only occasionally indulge in thriftless purchases (case in point: ME:A was the only game I've purchased at release cost ever if I recall correctly). The result is a big money damper in the form of savings that has granted me a nice amount of independence. I wouldn't recommend my money management techniques to anyone serious about financial stability.

I don't buy booze, tobacco, restaurant food, or girlfriends, and I don't travel, so that's probably what keeps me from going into the red. That stuff's expensive! :eek:

I really ought to invest some of these savings, but that requires planning. I'm not good at getting things done if they don't involve some sort of externally set deadline.




Andron Taps Forum Mod

Faktrl is Best Pony

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#7 1 year ago

"Nemmerle"My main account is where my wages go, that almost immediately pays my standing expenses - service charges, rent, phone bill, etc, which go out within a couple of working days of my wages going in - and serves to distribute money to the other accounts. There's an expenses account for food etc. There's the savings account. Then there's an account for spending money for the month.

I only freely spend from the spending money account. That's what it's for. Like if I want to eat out... well, if there's money in the spending money account? I can afford it. I know everything's covered, I know I have savings for the month, I know that my bills are fine. That money's not in the spending account to spend in the first place.

Does your bank have an automatic system in place?  Or do you personally divvy up the wages into separate accounts?  And if so, are there any special advantages, i.e. higher interest rates?


"I'd shush her zephyr." ~ Zephyr.



Lindale Forum Mod

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#8 1 year ago

Apart from the obvious, such as food, the only thing I spend my money on is guitar stuff.

That said, my bank accounts are every bit as simple. I only have a checking, and a savings.


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Nemmerle Forum Mod

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#9 1 year ago
"Adrian Ţepeş"Does your bank have an automatic system in place?  Or do you personally divvy up the wages into separate accounts?  And if so, are there any special advantages, i.e. higher interest rates?

I set up standing orders between my accounts in the same way that one might set up a standing order to a third party account. You can get higher interest rates, at least with my bank, however the interest rate across accounts is so marginal that it's not really worth doing for that reason. Interest rates on standard bank accounts around here are laughable ^^;

I mean technically the savings account pays a higher rate of interest up to £10k in savings, but I'm not transferring money in and out of that account every month just to stay under the critical value when the interest calculates and get a couple of extra pence over a year.




RadioactiveLobster Forum Admin

Jeff is a mean boss

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#10 1 year ago

There is a reason I have 25 hours "played" in You Need A Budget 4 on STEAM.


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