Read how Andrew is using PocketSmith’s Budget and Calendar features to get on top his expenses and look towards the future of his money.
My name’s Andrew, I’m 52 and I work in IT for a mid-sized company in Australia as Head of IT. My family enjoys going on holidays to international locations, usually about once a year, when we can. We are buying our own house, and I live with my wife and our 12-year-old son. Our adult daughter has just recently moved out.
I’m the primary breadwinner in the household, working full time. I’m the logical one who asks the question: “Yes, but how are we paying for this?”
My new year’s resolution was to start managing our money better. We seem to spend what we earn. My wife had talked about a holiday at the end of the year. I really wanted to get a handle on where our money was going and why we weren’t getting ahead.
Being good with computers and Excel I knew I could build a simple spreadsheet to manage it. I’d also used Microsoft Money a long time ago for a similar purpose. At the same time, building something would mean a lot of effort and time spent putting it all together and keeping it working. I wanted to find something inexpensive and “off the shelf” that could do the job.
I started googling “personal money management” and even tried to find Microsoft Money. I looked at a few products (free, paid or “freemium”) and tested some of them with varying results.
Then I stumbled onto PocketSmith and signed up for the trial. It was a good price, compared to the time I would spend building something with even one-tenth of the features it had.
Signed up at the start of January 2023 — now coming up to two full months of “live” transactions and management in PocketSmith.
Well, it was originally going to answer the question “where does our money go”, but I’ve fallen in love with the Budget and Calendar features. Now I know “when will our money go” as well as where!
Rather than spending considerations being “do we have money?” or “can I buy this today?”, the question comes to “is this in the budget and is there budget available?” We have a budget for some of the niceties, but now we at least know how any spending will affect our savings toward a holiday.
A psychological benefit is also now that the whole family is aware that we are tracking our spending. We’re all, as a family, more likely to snack on leftovers than order out. And my “new clothes” habit from last year has been broken.
I have so many things that I didn’t expect to be so time-saving and awesome. With this new “real-time banking” world we live in, I didn’t even realize this could be done. So, favorite features in no particular order:
I’ve got two and they’re wildly different.