August 15, 2020 – c’t dedicates an article to MoneyStats
In the current magazine of c’t (issue 18/2020, page 84) – the largest European magazine for computer technology – you will find a successful article about MoneyStats! So buy and read quickly! 🙂
You can see the complete article in the magazine or at the following link on the heise.de website:
July 8, 2020 – Keep a budget and save money!
Who does not know it? The month is not yet over, but the money is already scarce. Therefore, it is even more important to keep track of your money and to control your own finances.
Keeping a budget can help you with this! That is why I am devoting myself today to the topic: “Keep a budget and save money”.
But first of all: What distinguishes a financial overview?
Actually, it’s just an overview that lists your income and expenses in an orderly manner. You can keep this overview, for example, in a book or in an app. But why bother? I can also see my income and expenses in online banking …
… and this is exactly the crux of the matter! It’s not just about keeping track of card payments, it’s also about keeping an eye on cash. The aim is to document the finances fully and transparently and, at best, to categorize them. This is the only way to get a feel for your finances, only in this way will you recognize unnecessary or excessive expenditure, only in this way will you set budget limits and goals. And that’s the only way to save money! And that is exactly the money that you lack at the end of the month.
But how do I start? Very easily. Find a book or an app (for example the “MoneyStats” app) and start systematically recording all your income and expenses. The first step is really just to give you a complete overview of your finances. How much do I take and how much do I spend? Don’t forget the coffee on the go, the annual contracts or outstanding invoices. Write down the date, the amount and the title. The focus should be on completeness. It is best to write everything down for 2 to 3 months. It’s not easy, but the work will literally pay off later.
True to the motto “A picture is worth a thousand words”, it is now time to categorize your income and expenditure. This gives you the chance to graphically evaluate your transactions and thus identify potential savings. So think of typical groups for which you spend your money or groups for which you generate income. You will find that there are mostly more spending groups than income groups. Examples are the income groups salary, pocket money or child benefit. For your spending groups, on the other hand, you could use rent, food, clothing, children, cars, leisure, vacation, electricity, water or telephone.
The work is worthwhile because you have now got an orderly overview. You can do a lot with numbers alone, but they can only really be understood if you visualize them.
It’s about analyzing! Compare your spending over the past few months and try to get a feeling of how much money you are investing in certain groups. Compare your earnings and expenses and analyze exactly what you spend the most money on. Electricity, cell phone and car insurance costs need to be put to the test. For example, if you pay your car insurance monthly instead of annually, you may pay several hundred dollars more a year! Assess your expenses and set priorities. Questions like “Was the new item of clothing really necessary?”, “Do I still need the newspaper subscription?” or “Do I really have to go out to eat several times a week instead of cooking at home?” must be answered appropriately.
But not only look at your expenses, but also take a look at your earnings. Do you have the chance to increase your income or open up new sources of income? A promotion or a job change may give you a higher salary. Finally renounce an unhealthy vice? Or muck out the basement and turn hidden treasures into money. Have you already submitted an annual tax return? As you can see, there are many ways to ring your cash register.
Now that you’ve got an overview of your income and expenses, it’s time for your budget! So set yourself a financial limit for certain spending groups and try to meet this over the month. For example, set a monthly limit for clothing and leisure expenses. Similarly, you can of course also create budget goals for your revenue groups.
And now it’s up to you to bring your personal finances on track! Watch your finances, keep your budgets, and you’ll quickly notice that even money remains at the end of the month.
March 27, 2020 – MoneyStats is now available for Mac!
It took a while, but now MoneyStats is available for all macOS devices. The functions are the same as on the iPhone and iPad! And the synchronization between iPhone, iPad and Mac works without problems.
March 27, 2020 – The new website goes online!
It was time to give the old website a new shine. Therefore, I decided to use a content management system (CMS) to better inform about innovations and changes.