Checking & Budgeting Software Suggestions

[Anonymous]

Can anyone suggest good software for managing your checking accounts, budgeting, credit cards and loans? It needs to be in the cloud/online so I can access the info any time and anywhere and having a phone app would be great.

I know one of the first things people will suggest is Mint.com, but I used Mint years ago and wasn't happy with it.

I really want something that is spot on and helps with future projections and current spending. We have a joint checking account so my husband and I both need the info at our fingertips.

For example, if I write a check for $30 and it's outstanding, my husband needs to be able to sign in and see a running checkbook register. If my husband swipes his debit card for a snack at the gas station, and he enters that as a debit, I need to be able to see that on my end. If we have an auto payment going out in three days, I want to see that autopayment listed and a projected balance from that auto payment. When I used Mint years ago, it was very, very poor at projected and future payments which is essential when using a joint checking account. (And before anyone misunderstands, this is not a bill paying or household account, but it's our spending and incidentals account. However, we do pay for things like entertainment, club activities and school fees, etc from our 'incidentals' as well. )

Thanks for any advice!

[Anonymous]

I admit to not knowing a single integrated cloud-based (and presumably cost-free) solution that enables you to manage all your acounts (CCs, bank accounts, loans, etc.) and all transactions occuring on them which is also far superior to Mint.  That said, I am sure that these kinds of solutions will only get better and that there will be more competitors during the next 5 years.  One drawback for some consumers (I am one) is the worry they experience every time there is another news report of another database being hacked.  The idea of having a single place where I (and therefore a hacker) can reach into all my financial data makes me a bit uneasy. 

While you continue to look for an option like that, and also because your post focuses chiefly just one checking account, I wonder whether a temporary solution for you may be to find an online checking account that gives you all or nearly all the functionality you describe.  The checking account that my credit union offers does pretty much everything you describe, though I don't myself use any of those features.

For example, any transaction that has already gone through can be annotated with additional descriptive language (if it was unclear what it was for).  Any upcoming transactions (recurring or not) that have been programmed in via its BillPay are also shown (and balance projected).  And finally you can add any other transactions you believe will be coming up.

The advantage of something like that is that it avoids the labor (and possible error) of re-entering a lot of stuff.  In other words, if your husband swipes his debit card, let the bank's software take care of recording where he did that and when and for how much.  Likewise for past transactions and upcoming recurring payments that the bank is preparing to send out. 

An approach like that can be coupled with gradually increasing the amount of buffer money you have in this account, and then just looking at it once a month together to see if you guys are happy with how you are spending this money.  Your need to be able to see in real time the exact amount of money in the account (including amounts that might be hitting it in the next ten days) may be related to the balance frequently getting close to zero.  That may be more easily solved by making sure that the account has enough that it always seems to be at least $200 (say).

Those are just a few thoughts.  Good luck finding the approach that works best for you.

[CreditDunce]

Mint does many things well, but I have to agree it isn't the best at projecting into the future.  The upcoming bill feature repeats previous months bills when ever I do not have a balance due.

I think CDiG's suggestion is probably the best.  Find a credit union/bank with the online banking features you need.

[Anonymous]

I have a B of A checking account and the phone app is most useful, with realtime updates of transactions. 

A few years ago, my DW was distracted in the grocery store when someone asked her a question about a product on the shelf while her accomplice stole her wallet out of her purse in the cart.  Before she could get to the last aisle and check out where she noticed the theft and called me, the bad people had gone down the road and tried 4 transactions at 3 different stores.  Since that time, we only keep operating money in the account linked to the debit cards and we move money from the main account to cover transactions as necessary.

I can move money to cover debit transactions in the phone app.

It will show pending bill pay transactions, but on another screen.

Its very useful as a real time display of account balances.  And its their responsibility to maintain and secure it.

However,  I now use my CC with rewards to cover most purchases like that now, and it so happens it is also at B of A, so still very convenient.  My CL is only 500 with this rewards card so I pay it a couple three times a month, and still convenient.

hth