App vs. Spreadsheet - Which Should You Use for Budgeting?

[@branndon_allan]

Before I got to the end of the video, I was going to recommend a hybrid of both! I use Mint to see all my transactions in one place since it updates quickly, but I use a spreadsheet as my main tool. Like you said, it definitely makes you feel each transaction and you’re able to customize it more. Planning the next month’s budget by duplicating the current is so useful. Great comparison!

[@moneybee]

Great breakdown of the two schools of thought. It's really interesting seeing the technology out there that can make things more simple, or at least more visual and less maintenance.

[@Just-Jaci]

I gotta use spreadsheets so I have complete control. Plus I just like making it visually pleasing. Yes, it’s time consuming - but you’re right, you “feel” each transaction more

[@kelbraf9040]

Love this! I’m really into my spreadsheets and as you said it’s a huge plus to be able to “feel” your transactions and make the connections to your habits. I started using spreadsheets because of this very thing. Also it’s great to visualize with different colors and being able to look back at old archives per each check and not only the month. 🙌

[@BookSuburbia]

For me (not that it applies to everybody) I just cannot justify the investing of monthly payments on an app to do my budget. The whole purpose of going on a debt free journey is to minimize expenses and for me, even tho well created, still falls in the cost prohibited expense. I wish I could afford it, dont get me wrong, but I stopped coffees and treats and life in general so I could save every penny and I simply cannot afford it. Sad. That's why I closed my YNAB too. 😕

[@justafrenchkidtryingtospea9462]

Free apps exist 😅

[@jj6152]

My wife and I feel the same way. We were tired of monthly fees. We found a cool budgeting app called cash tank budget. It was eight dollars one time and also has a 30 day free trial option. One time fee, a lot of functionality, no ads and no account to sign up for and saves us time. It runs on Microsoft windows. So if you have a Mac or need a mobile app this wouldn’t be a good option.

[@scottoliver9594]

While I certainly agree that it seems counter productive using an app, but has made it much easier for me to stay on a budget and save way more money than I would have otherwise. What I have been able to save has far exceeded the cost of the app. So my net gain has made it worth it for me. I have never been able to keep up with a budget spreadsheet for the long term. The app I use just makes it way easier for me to keep up and the one I uses auto tracks my expenses and takes the money from the correct bucket.

[@rinzor]

Concur. YNAB has some great features, but $14.99/mo. is hard to justify no matter your debt situation. I'll stick with my spreadsheets (Google Sheets, so have on my phone on the go). I tried Mint when it first came out, but categorizing things was always a pain and it double counted my card payments as debt payments when it's literally just me paying off the card for the same transactions that month. Entering each transaction manually might be a pain, but it's the only way for me to account for everything correctly in my budget (and does make me feel the transactions).

[@scottoliver9594]

@@rinzor To each their own. I have just never been able to keep up with the spreadsheet budgets. Constantly having to go in and track the transactions every day just didn’t work for me and my schedule. I don’t use YNAB either though.

[@bicycleninja1685]

I use a spreadsheet. What I'd like to know is how to append expense data from multiple bank and credit card accounts directly into excel without having to do a whole log in to each site and download each csv, then import, etc.

[@AF-gd6uv]

Agree, great breakdown and I prefer the spreadsheet way. Especially when your trying to save, you need to count every penny. This clarifies a lot, thank you. 😀👍

[@DebtFreeMillennials]

Glad it was helpful!

[@ellenducote530]

I appreciate that you know we all have 'different' brains. I'm ADHD and I love the way you explain things. I've been needing to start examining my expenses and the hybrid model sounds perfect. BTW, I'm not a millenial. I'm 72. 😃

[@sandramatos6409]

Definitely a spreadsheet lover.

[@victormendoza3295]

I do both. I am a programmer so a little easier (but taking more time sometimes) for me.

[@jorgeivanvelezaguilar1531]

Hybrid team here! Actually I tried to record every transaction on a spreadsheet but I found that to register the same information it takes like 5-7 seconds more per transaction than in the app (since 2010 I have been using MoneyWise...I currently register over 200 transactions per month, so at the end of the month that's more time than what it would take to just paste the info on a spreadsheet and make more granular analysis as you mention. Thanks for the content 🙌🏽

[@rachael2119]

We use ynab and it’s helps change the way we budget

[@MuratKilci]

Notion. Works great. Customizable. A little hard to understand how it works but once you understand it is great for not only budgeting but for all sorts of things. Huge cult like community with many free templates including budgeting. Same pros. Feel your spending. Customizable. Free account available. Can be shared with others. Cons. Manual entry. Could be hard to fully complement what the app can do. May be you should do a video 😊 on it.

[@aracelisnassortega2292]

I am also hybrid, I use Mint app which I like a lot but still have my excel spreadsheet

[@icnoib1]

Do any of the budgeting apps track envelopes or categories showing a list of the deposits and debits in each envelope like a spread sheet? In addition, I want to front load the envelopes or categories and deduct money from that particular envelope. I use an envelope spread sheet that I created, which divides the money in my checking account into the envelopes. This was inspired by Dave Ramsey; yet, his own app does not even do that? I cannot find an app that tracks the way I want or I definitely would love the convenience of the app. I am responsible enough to monitor and adjust my spending.

[@ericagaede6950]

spreadsheet!

[@zacharysherry2910]

Sweet Anita didn't even glitch once!

[@saraformo9770]

Help lol where is the link for a quickin …

[@DebtFreeMillennials]

it's in the description box!

[@saraformo9770]

OK, I have been using a spreadsheet and I don’t feel like it’s affective for my husband. I may have to change to an app to make everyone’s life easier.

[@ronswansonsdog2833]

Haha I thought I was the only one! Getting him to agree to a budget diss incentivizes me. I’ve tried spreadsheets there way too much work and I’m not consistent in entering things. I’m going to go for an app - still researching.

[@AJEBBERT]

App