Justbudget or how to save money.
Posted by Mathieu Jobin Wed, 22 Feb 2006 17:00:00 GMT
Well, since I have not done it already, I'd like to take this opportunity to introduce you to my little baby, If I haven't already.
I made justbudget back in march 2005 to answer this craving need that everybody has, saving money. My girlfriend was travelling, visiting my country at the time and I was already planning to visit her country at some point. So I needed to save money. It's actually a web application I always dreamed of building but never did because of all those reasons you already know. Well, I did it.
The idea is very simple, it replace the excel spreadsheets or the paper work that you would be doing. And makes it easier to enter your information and gives you more, for free. Free as in "no cost" and as in "no extra work". What more ? Well, a lot more and this is too early to start enumerating them. But think stats, graphs and real food.
People trying to determine their maximums, the money required per "envelopes" or categories. It is just going on step too fast. You first need know all those hidden categories you never thought you had. You need to know where you do really spend money. That requires you to track your expenses and start studying your very own profile. Then after, you can set maximums and change your lifestyle according to you needs and desires. As far back as I can remember, it's actually always what I've seen people doing. Keeping receipts and invoices and entering them in some system. And eventually giving up.
Giving up, most likely because:
- their system were too sloppy and entering expenses was a pain.
- their system was not available worldwide on any internet-connected web-surfing electronic device
- their system was not giving them any answers or cool stats. they were just doing the first step, entering data.
So that's what justbudget mainly does. Allows you to track your expenses from anywhere, try to make it as easy as possible and gives you stats, graphs, results and as much feedback as you need to be able to learn something from your spending profile. To be able to save there is a lot that you need to know. More you give to the system, more the system will give you in return.
Here is my quick tips.
- Every day: I'm sure I'm not the only one, after three days I already forgot all those tiny expenses that cost me the moon at the end of the month. Ask for receipts, write it down if not and enter them into your system at the end of the day. You'll save time too, as you won't need to remember, it should take you less that 5 minutes. As, for most days, most people has between 0 and 5 transactions a day.
- Don't wait: Poeple are telling me "I don't have enough money. I have nothing to budget." It is so wrong, seriously. No wonder you won't ever have any. If you wait for the train without your train ticket, it'll take a while before you can take any train. Start now, don't wait for a bigger paycheck and especially not for this symbolic first of the month. And remember, poorer you are, better reasons you have to start now.
- Enter the time: I know the date is more important and most people needs no more. But with the time, you'll have your expenses chronologically ordered. It will be easier to find something when you need to remember something you did. And justbudget's calendar makes it so easy anyway.
- Category AND Location: I think most people got the category right. But many people message me asking "what is a location", or "why should I enter a location". In the end, it's totally your decision. but it will give your more stats. As where you spend your money. Not only for what purpose. You may actually decide to stop going somewhere after you realize you went to many times.
Well that's it. Tip #1 is for sure capital. Is the one that will make you succeed. I'll let you give it a try now. Have fun saving money. And if you have any comments, questions or simply want to leave a testimonials, feel free asking right here as a comment to this post. I'd be sure happy to know more what people think about it and if some of you succeed and are now saving money.
