Ways to Save.

[ArrieS]

I was just curious how other people might be saving money, managing and track it, either for retirement or something specific.

For example I use digit ( https://digit.co/r/Dq_76?wn ), it automatically takes a small amount out every few days based on a calculation from my income and spending habits. I basically forget about it and it has saved me a lot, about $900 after 7 months and I never missed the money. I like it because I basically forget about it and don't see it with all my other accounts so I never think about possibly using it, a secret rainy day fund.

I also use services like Mint (mint.com) to track my spending and net worth, and personal capital (http://www.personalcapital.com) to consolidate and track my investments. Mint does that but I think Personal Capital is better at it.

I was wondering if there are other services people might use, or just general tips. After all retirement is more than just the TSP and IRA accounts.

P.S. shameless plug, if you do sign up for digit I get $5 bucks for a referral if you use my link.

[maxbobcat]

I use both Mint.com and PersonalCapital.com to manage all my spending, income, and net worth data. They both basically do the same thing, just aggregate all your data to one place. I like PersonalCapital just a little bit more.

[LoGiK]

I use You Need A Budget, YNAB. There is a free 30 day trial, the software costs $60. However if you're a student and you email the support department with some form of student ID you get a year free. And you can keep doing that every year your student ID is valid. The software is great, there is even an app for iphone/droid for updating transactions.

Since completing step 4, living on last months income, life has become less stressful. I budget every expense at the beginning of the month, every dollar has a job. At the end of budging all my everyday expenses and bills (I include $458.33 Roth IRA as a monthly bill), the money I have left I can use for anything - I use it for savings.

For example, I'm a single 24 year old e5 with 5 years time in service living overseas with almost no COLA (totally lame). I make $3214.15 before taxes and $2563.02 after taxes are taken out (need to get to a tax free state!). I then have 180.64 (7%) taken out for Roth TSP leaving me with $2382.38 of income every month. Of this, $1317.52 is spent on expenses and bills, the remaining $1064.86 I can allocate to my savings goals.

No I'm not living on ramin noodles, yes the dollar is worth a lot here so that plays to my favor, and I don't have many bills like I did in the states. However, this software has allowed me to get my finances in order and double my networth in 10 months ($20k now). Just about done with my $6k emergency fund, then I'll change my TSP to around 15% and use the remaining savings every month toward a house down payment. Granted I've been debt free for over 2 years now, but until I discovered YNAB money was flowing out of my bank like water out of a fire hose.

I highly advise you to check it out, there is no linking bank accounts either. And no I get nothing for referring you.

https://www.youneedabudget.com/

[skiehawk11]

Looks legit Logik! It seems like a one time fee for the software and it seems like updates are free?

[bluefire]

Just what I needed! Thanks LoGiK!

[LoGiK]

The $60 will pay for version 4, v5 some be coming out soon. All v4 updates are included in the price. There hasn't been a release date yet, but its come out around this time before. When they updated from v3 to v4 they grandfathered some who purchased v3 and gave them a free upgrade if they were close enough. Others they gave a significant discount if they were within a month or two.

I recommend going the student ID route, however I do plan on purchasing this once my ID expires. I love this software. I highly recommend taking the free classes they give on this, you can sign up for them, miss the class (if you want) and watch a recording of it if would like too. They also give away one free license each class.