Money apps / software?

[Time Waster]

Years ago when I first got a PC I got bundled a load of software. Quicken was one, then with ms office came ms money program. Never bothered with them as I was actually student without money to track!

Now, I'm earning and looking into savings, ISAs, sharesave schemes at work, pension contribution increases, etc. Are there any programs worth considering? A mix of tracking but also assessing potential financial deals I guess would be useful.

I know spreadsheets can do a lot of this but you'd need a lot more knowledge than most people want or have initially. I'm possibly going that way but looking at programs (apps) on my laptop.

 

[Emanresu]

My son is involved in managing the cash for his employer. He's been playing around with ChatGPT (in a sandbox) to see what strategies that might be used for maximising the return on the cash. His business is always cash positive. He tells me that with one strategy, the software had not followed the instructions (to the point of damaging the business if it was followed). When he put in another instruction asking the AI software to rectify the obvious mistake, ChatGPT denied it had made one!

Use software carefully.

 

[Time Waster]

Not going near AI for money things. Simple current rules based algorithms are probably easy for traditional software. I think my old employer used sage 50 for work. Regular updates for when country specific rules changed. Linked in with HMRC rules, etc.

I wonder if there's a more basic personal version for home finances. Like ms money and quicken home use software.

 

[SpokeyDokey]

Maybe try a personal finance/investing/accounting forum?

I have no idea if such a thing exists tbh.

Re spreadsheets that you mentioned.

Apart from a tool that you are searching for my one piece if advice is to build a simple annual cashflow forecast.

My world changed with this. At the time we were contemplating switching off a very high net annual income, for a less stressed life, but were absolutely bricking it tbh. Very scary! We thought we would be okay but until we had a long-term projection mapped out we were really very nervous to the point of fearful procrastination.

We run ours on a rolling 20 years forward basis with a cut off for both at 85 years of age - my cut off is activated, Mrs SD's is a few years off yet!

Some people disparage our use of such a cash flow but in all honesty it is a fantastic financial confidence booster for us, as well as being a powerful decision making tool.

Over the years it has become increasingly complex (we both love playing with Excel) yet it is surprisingly time-efficient to use. 10-15 minutes at the end of each month for a quick reconciliation and maybe half a day at year end for a recasting session for the following year-specific spending plans.

 

[richardfm]

I haved used Quicken and Microsoft Money in the past, now I use Bank Tree https://www.banktree.co.uk/

 

[Ming the Merciless]

My son is involved in managing the cash for his employer. He's been playing around with ChatGPT (in a sandbox) to see what strategies that might be used for maximising the return on the cash. His business is always cash positive. He tells me that with one strategy, the software had not followed the instructions (to the point of damaging the business if it was followed). When he put in another instruction asking the AI software to rectify the obvious mistake, ChatGPT denied it had made one!

Use software carefully.

Maths or telling the truth isn’t LLMs strong point. It’s a bit like asking a goldfish about tips for remembering things.

 

[SpokeyDokey]

I haved used Quicken and Microsoft Money in the past, now I use Bank Tree https://www.banktree.co.uk/

That looks very comprehensive.

Good to see things like net worth forecast projections etc. Our spreadsheet (I should call it workbook really as it is far more than a spreadsheet) does the same, basically to estimate the amount of IHT that the kids will need to stump up.

Our forecasts and various balances & cashflows are graphically displayed and were powerful motivators when we were downshifting in the early 2000's. Nowadays they are comfort blankets for when one of us dies and for the kid's financial position when we have both expired.

The integration of eg Footsie 100 index etc is really neat, probably a massive overkill except for the most sophisticated personal finance 'manager' but clever nonetheless.

Had the tool been available way back then, yes, I would have used it. But now we are in 'end game' management it would not do more for us than what we have built ourselves.

 

[Time Waster]

I usually like playing around with spreadsheets but I have a mental block over finances. Possibly an ADHD thing in that I'm interest based brain. I'll spend hours straight getting a spreadsheet right but a money one I've got 5 minutes in me before I move on and leave it. Got a few such drafts saved in various places. I was kind of hoping to find something already there in an app.

Is quicken and Ms money still around? Anyone else tried the bank tree app?

 

[Emanresu]

Here is a simple (and free) cashbook. Doesn't import transactions or link to bank accounts but is simpler than a spreadsheet.

https://www.vtsoftware.co.uk/#VT_Cash_Book

 

[mistyoptic]

I’m still using Quicken. The last version in this country was about 2004 iirc. Still works on Windows 10 but have to give it permission to run each time, which is irritating

https://community.quicken.com/discussion/7863722/quicken-for-the-uk

 

[Time Waster]

You can upgrade to quicken 2013 from 2004 version apparently but not buy a full app.

 

[mistyoptic]

You can upgrade to quicken 2013 from 2004 version apparently but not buy a full app.

Yes, I discovered that today. However, it won’t accept the data file from a uk version of 2004 so I’ll stay as I am