At the end of 2022, I discovered this software that I've been using all year. I'd like to hear your thoughts or experiences with GnuCash, or whatever system/program you use to track your personal finances!
For the ones unfamiliar, it's based on a double-entry accounting system; every transaction always has at least two accounts involved. Example: if I spend 200 SEK on a restaurant, it goes from Assets:Cash to Expenses:Food.
Starting by creating my own accounts, it helped me immensely to have an overview of my general financial situation.
Around March, I found enlightening to re-define what expenses needed their own category from what I was unconsciously lumping into 'others'. Having it all already logged, made it quite easy . The caveat is that all the entries are manual, but my finances are not as complex, so with 30-45 minutes a week I have it updated.
You can even create diagrams for your monthly expenses, or general balance, among other reports that come quite handy if you want to run a query.
I've tried several times times but found it difficult to integrate with actual accounts like Mint and today simply use a spreadsheet in LibreOffice updated weekly to track debts (this includes CCs so spending is in there, too)
Started with a good ol' spreadsheet, but I didn't have a consistent enough system to have an actual understanding of my transaction patterns.
The one you use, do you track spending in a double-entry system or writing down general balances?
General balances. It's a very basic system
I'm the same way. I want to use GNUCash, but I have a bunch of accounts and haven't found a good way to import them. So I stopped using it after trying for about a month.