Software to track Spending

[sbk1972]

Hi all,

Currently Im downloading my bank statements and loading them into an Excel spreadsheet where I have created some columns like gas, electric, costa, etc. I then have to go through each statement activity, moving each one into the correct columns. This then gives me a rough idea of what Im spending in various areas. This manual approach takres for ever.

Is there a software I can buy that I can download my bank statement, import them into this application that will then automatically group them e.g. ulitities, food, petrol, etc ? I dont need quick books or sage, I just need some simple app that will group . display my spending across the month / year per a group etc.

Simon

[simon_harris]

There was an app I used a while ago that you link to your bank account/s and it does all this for you - though for the life of me I can't recall what it was called. I used it for a while to get a grip on what I was spending and then I removed it.

Look up Emma or moneyhub - they are a couple of apps that come back in searches

[Doofus]

You can do this in Excel using Lookups, or Countifs.

Essentially, the text detail of each expense (or income) can be used to automatically put the value into a specific column.

How Excel-literate are you?

[Neptune188]

I use MoneyHub for exactly this. Works very well. I used to use an excel spreadsheet but that required me to actually sit down and do it; I can dip into moneyhub every few days and never have more than 3/4 transactions outstanding at a time.

[GiantEnemyCrab]

MoneyHub (free)

YouNeedABudget
Emma (both not free)

[mikeiow]

You could try Moneyhub….connect banks etc for read-only access.
Might suit you?

I’ve just reconnected mine, but only because they offered a free 6 months - I decided it wasn’t worth paying for when I first looked…..

[FriedMarsBar]

I use PocketSmith, which is a web based tool but also has a "light" app version too.

PS connects to your bank using OpenBanking connections and has an automated sync once per day schedule that downloads all your transactions. You can also run a sync any time you like if you're checking for transfer etc.

You set it to auto catergorise incoming transactions these e.g. utils etc or create your own categories. You can also create rules, e.g. "£30 to X from HSBC" is catergorised as "Children pocket money" etc.

I previously used a free tool, before Pocketsmith, called Moneyhub, which has shutdown now as web interface, and I moved to PocketSmith as it retains ALL injested transactions (which I like) it's quite easy to use, has decent help available and isn't a fortune at circa £95 a year.

https://my.pocketsmith.com/account/plan

I think you can also setup a free trial for a month.


EDIT: I thought MoneyHub had shutdown but it appears people are still using it.

Edited by FriedMarsBar on Tuesday 3rd December 12:34

[sbk1972]

Hi all,

Thanks for such a quick reply. Im not any Excell master. sum() is prety much my limit :-)

Just downloaded moneyhub, connected to my bank. Yeah it looks ok. I was hoping to see totals on Bupa, or Costa, or Shell petrol so I can see what Ive spent over the month / year in those areas.

Im trying Emma now.

All these seem to be phone based apps. Any desktop ones ?

[mikeiow]

sbk1972 said:

Hi all,

Thanks for such a quick reply. Im not any Excell master. sum() is prety much my limit :-)

Just downloaded moneyhub, connected to my bank. Yeah it looks ok. I was hoping to see totals on Bupa, or Costa, or Shell petrol so I can see what Ive spent over the month / year in those areas.

Im trying Emma now.

All these seem to be phone based apps. Any desktop ones ?

You need to help Moneyhub to learn the transactions…..it can certainly give you those kind of reports, band will categorise most just fine.

[FriedMarsBar]

sbk1972 said:

Hi all,

Thanks for such a quick reply. Im not any Excell master. sum() is prety much my limit :-)

Just downloaded moneyhub, connected to my bank. Yeah it looks ok. I was hoping to see totals on Bupa, or Costa, or Shell petrol so I can see what Ive spent over the month / year in those areas.

Im trying Emma now.

All these seem to be phone based apps. Any desktop ones ?

PocketSmith is web based and the App is only a "light" version, not free though.

[sbk1972]

Thanks.

I think moneyhub is the way forward. Just learnt how to customise it.

Is there a PC version of it ? Im trying to see if it downloads all my previous years statements. Would be nice to download 10 years worth

[FriedMarsBar]

sbk1972 said:

Thanks.

I think moneyhub is the way forward. Just learnt how to customise it.

Is there a PC version of it ? Im trying to see if it downloads all my previous years statements. Would be nice to download 10 years worth

If it works like PS then it will not download all your previous statements. It can only download what the bank offers as it's current data set. I think banks only have a one rolling year data set but you can normally download about 6 years worth of data using MI data, which banks are obligated to provide. Once you have this data it should be possible to import it whatever you're using.

Edited by FriedMarsBar on Tuesday 3rd December 16:20

[Mazinbrum]

Just use a Monzo account.

[ThingsBehindTheSun]

I find that finances are like being overweight, the solution is completely obvious yet people think there is a miracle cure out there that involves no effort or changes to their lifestyle.

I work with a guy who in one breath is telling me how much he spends on his company car, eating out at the weekend, sky package, cleaner etc. and the next telling me about some savings scheme where you start off at 1p on the first day of the year and increase this a penny a day.

Just spend less money on stuff you don't need, simples.

[Doofus]

ThingsBehindTheSun said:

I find that finances are like being overweight, the solution is completely obvious yet people think there is a miracle cure out there that involves no effort or changes to their lifestyle.

I work with a guy who in one breath is telling me how much he spends on his company car, eating out at the weekend, sky package, cleaner etc. and the next telling me about some savings scheme where you start off at 1p on the first day of the year and increase this a penny a day.

Just spend less money on stuff you don't need, simples.

He didn't say he was skint, he said he was monitoring what he spent. Superciliousness not required.

[OldSkoolRS]

Doofus said:

He didn't say he was skint, he said he was monitoring what he spent.

Better late than never, but I really went into this when I retired early, so monitoring spending is a good first step to planning for the future, not necessarily a sign that someone is skint as you say.

I did think I might go back to work after 6 months, so perhaps not as reckless as it might seem. Once I really drilled down into what I was spending it helped me figure out what I really needed to draw on if I decided not to go back to work and to retire instead. I guess I knew 'seat of my pants' since I'd saved up enough to pay myself for 2 years due to not spending all my income over the previous years (though in hindsight I should have invested it in some way, not just letting it build up in my current account ). Once I'd really worked out what I was spending it helped me decide how much I needed to take from various pensions and indeed when to start them, since I could also work out roughly how long my surplus would last.

Like my forum name I'm old school, so I still keep a simple Wordpad document and manually adding things up using a calculator. At least it helps keep my brain active though.

[mikeiow]

OldSkoolRS said:

Better late than never, but I really went into this when I retired early, so monitoring spending is a good first step to planning for the future, not necessarily a sign that someone is skint as you say.

I did think I might go back to work after 6 months, so perhaps not as reckless as it might seem. Once I really drilled down into what I was spending it helped me figure out what I really needed to draw on if I decided not to go back to work and to retire instead. I guess I knew 'seat of my pants' since I'd saved up enough to pay myself for 2 years due to not spending all my income over the previous years (though in hindsight I should have invested it in some way, not just letting it build up in my current account ). Once I'd really worked out what I was spending it helped me decide how much I needed to take from various pensions and indeed when to start them, since I could also work out roughly how long my surplus would last.

Like my forum name I'm old school, so I still keep a simple Wordpad document and manually adding things up using a calculator. At least it helps keep my brain active though.

No. More. Guitars.

You’ve been told before
Simples

[OldSkoolRS]

mikeiow said:

No. More. Guitars.

You’ve been told before
Simples

Honest guv I'm cured.

[sbk1972]

Hi al,

Thanks for all your advice and comments. Ive always tried to keep an eye on what I spend ( and my wife as we have joint accounts ) as its all too easy nowadays to literally tap tap tap using cards. I'm in my 50s now so remember back when we just had cash and once that was gone that was it so you were careful.

My old previous manual download statements as csv, import into Excel method worked (altrhought a little in accurate). Im just getting lazy now and havent the time to spend hours performing this old method and wanted to see what apps are now availasble to do this as I cant be the only one with this problem

Im going to see if there is a desktop version of Moneyhub today and have a play.

N.B. As to being skint ? Kier is trying his hardest to achieve this......so I need to watch every penny hence the app.

Simon