Budget Software & Banking

[pubrunner]

Some things have improved for the worse then?

Yes.

It's subjective; I'm told by others about 'improvements', but I don't always consider them as such.

Never mind, but thank you for your usual 'constructive' & helpful reply, never mind.

Never mind.

 

[marknotgeorge]

The Halifax website seems fine to me. It allows me to sit in bed on payday morning and sort out all of my non-DD bills before I get up for work, so I'm happy. The app, on my phone at least, is a shell over the mobile website.

 

[Spinney]

Used to be with First Direct - swapped to the Co-op as I wanted something a bit more ethical (and sadly, I think the co-op are now no longer as ethical as they were).
But FD were very good for customer support, and I would even get the odd helpful phone call (did you know you have X in your current account, and if you open an on-line saver account you could earn interest on it). But no probs with Co-op on line either.
I don't do any banking by mobile phone, just my PC at home.

 

[pubrunner]

Used to be with First Direct - swapped to the Co-op as I wanted something a bit more ethical (and sadly, I think the co-op are now no longer as ethical as they were).

I agree with this; I joined the Co-op for the same reasons, but sadly, they're closing the branch in the local town. In common (I suspect) with most people, I don't need to visit the bank very often, but when I do go, I don't want to have to travel 25 miles.

 

[slowmotion]

I've been with FD since they started and I would recommend them to anybody. I don't know about budgetting software though. It used to be the case that new account holders would be given £100 and the person who introduced them would get £50too. I don't know if this is still the case.
Edit: It still applies...I just phoned them.

 

[slowmotion]

Do you get the £100 if you swap to First Direct from HSBC?

Yes. You get £100 and the person who introduces you gets £50. I'll introduce you if you want and you can keep my bung.

 

[Crackle]

Financial planning software normally requires you to set budgets and categories and to then categorise all of your spending. Unless you are quite anal, it's a right ball ache and easier to knock up an Excel spreadsheet or even write it down.

 

[SpokeyDokey]

Financial planning software normally requires you to set budgets and categories and to then categorise all of your spending. Unless you are quite anal, it's a right ball ache and easier to knock up an Excel spreadsheet or even write it down.

I agree - the ones I have looked at tend to start by micro-managing income/expenditure and it is easy to get bored/demotivated. Not looked for a while but maybe they have changed?

I find it easier to just manage the big picture ie annual budget for the key areas of expenditure (that are reset each year) and are then split down into calendar months. With this data and our various sources of income we produce a forecast cash flow for the year. We reconcile our accounts each month against the projected cash flow & if it is there or thereabouts we let it rest and only drilldown if there is a glaring difference vs forecast. Clearly some budget lines may be over spent in any given month and may be compensated by an under spend elsewhere to produce an 'on target' figure. This doesn't bother us as we take the view that as long as our cash flow is where it ought to be then we are happy.

Takes about 10 minutes per month and about an hour every December when we fine tune for the forthcoming year.

 

[annedonnelly]

Changing bank shouldn't be too difficult - they all provide a service to transfer your direct debits with little hassle.

It's worth looking around for good deals depending on your personal circumstances. E.g. TSB offer 5% interest on the first £2000 in your account - it's better than a kick in the teeth if you have the cash to put in the account.

I have a couple of current accounts so I've used a few of the online banking sites. Clearly some are related, e.g. TSB site is very similar to Halifax. I prefer the ones that allow me to choose my own username and password. The ones that don't are a nuisance as I have to make a note of the 8/10 digit number and refer to it to login.

I've used online banking for many years with few problems. I only ever use my home PC and wouldn't login from a work machine.

 

[slowmotion]

That's very generous, but I'm not sure if I can be bothered. Thanks anyway.

If you change your mind, it's just a matter of filling in a form but I agree that changing banks is a bit daunting. Apparently it's got a lot easier since I defected from Barclays all those years ago.

 

[Vapin' Joe]

Have to say I'm with First Direct too and have always found them and their online facility very good - easy and intuitive. Can't speak for budgeting stuff tho', I've never budgeted - just spend what I can't afford then do a lot of crying.

I've been with First Direct since 1990 and they are the best I've ever banked with. I use Quicken for budgeting as it allows you to see what monthly and annual Direct Debits are coming up so you don't forget one and get a nasty surprise. Quicken no longer operate in the UK but you can buy a US version and it will let you change the currency to Sterling.

 

[annedonnelly]

I should have mentioned moneysavingexpert.com is great for pointing out good deals depending on whether you want savings, low overdraft rates, etc. and they rate customer service too.

 

[Shut Up Legs]

@pubrunner , I'm no expert on the common UK banks (a bit out of my neighbourhood ), but I will say this: when you start using the online banking, remember to follow all their advice on keeping your online banking login account secure, e.g. change your passwords every 3-4 weeks, use secure passwords, etc.

 

[snorri]

(From Santander, who I never wanted to be with, but they bought Alliance and Leicester, who I also didn't want to be with, who bought Girobank).

You are my phantom twin.

I find Santander online banking works satisfactorily for me.

 

[ianrauk]

You are my phantom twin.

I find Santander online banking works satisfactorily for me.

I don't disagree with that, it did work fine. However. I didn't ask to be with them... and I have an aversion to red.