al dente

Sounds great/ ominous. Does it do analysis of spending? That would be where i'd panic!

Blue Cat

they question was who is better, not who does it

Meow

Well spotted BC.

I actually asked if people thought if there was a difference in how the genders view or handle their financial affairs, but I guess I can extrapolate from the responses given, which are more about how they handle them not the attitudes.

I'd like to hear if people think one gender is more cautious than the other. Or even if they think that one is better than another at handling money (if they dare!). I'm gathering views from a variety of sources and it's interesting see what people say, especially when I get to see the practice. It's not always the same.

Pomster

I am the money guru in our house.
Mr P delegates all responsibility to me. He used to rely on me to make cash withdrawals as he could never remember his PIN. On my insistence he now has one he can remember (what happens if I am in an accident? was my winning argument!)

I manage all investments. Any major purchases we discuss. Any major toy purchases (tools, phone etc) he asks if we can afford!
It seems to work well with us.

We have a joint account, and retain separate accounts just because they existed way before we met....but I set up his online banking so I know everything in his account .

Blue Cat

right I am saying men

Hello.Kitty

oh yes - it gives a forecast, gives you alerts as to forthcoming bills/ payments and even generates monthly breakdowns, including graphs and pie-charts. It'll also allow you to set up budgets by categories and will tell you how much you've got left within each one on a calendar month basis.

It's scary.

BUT, as with anything, it's only as good as the data you put in, so I've got a pile of receipts in front of me that I really ought to input, categorising each one so that the programme reads it. You can also get it to synch with your online statements, but then it misses the breakdown of cash payments.

Actually, it's a bit of a nightmare, but great in an uber geeky pie-chart fetish way.

scrubbedexpat141

Sounds awesome, I've downloaded about 10 apps like that to my iphone but have never kept it up for more than 4 days.

al dente

It sounds amazing! I'd never be arsed to input everything though and may have conniptions if i did..

Millhouse

It's pointless. What would you do with this information?

Do you do a monthly board pack to the kids? I can see the projector set up in the living room now... 'Inheritance forecast, April, 2011 - 2045'

I do love a spreadsheet and a bit of financial analysis (accountant by training afterall) but this sounds a bit extreme!

scrubbedexpat141

There'd be merit in doing it solidly for two months to see where all the cash goes though.

I've just never stuck it out like that. Happy in oblivion.

Millhouse

Again, and do what with the information?

Scenario 1.
'Ah, yes, but that month we had to buy new tyres for the car'
'aaaah, ok, that month doesn't count because the cooker broke down'
'remember, the car service and we all went to the dentist?'

No month is the same.

Scenario 2
'Miss Kitty, you spend 1000Dh on shopping a week - What the **** are you doing? I'm cutting that to 750Dh' Mr Kitty, no longer gets his lunch provided - corners have to be cut somewhere afterall.

I've always find that cash expenses are too lumpy for this sort of analysis you need to do accruals... and I hope no one has the time to be bothering to do that!

scrubbedexpat141

I think it's useful to see how much you spend on certain things.

Up until I sat and worked it out, I never paid attention that I'd buy about 5 rounds of coffee a week from a particular franchise, costing me £12 a time.

Not until you multiply that to a monthly figure and see how much of your salary might disappear on things like coffee that you see it as a waste. Especially when there is a perfectly good coffee machine in the kitchen.

That's what I'd find something like that useful for, wouldn't everyone like to see a breakdown of where money goes for a month?

Confucius

Her money is Our money...Our money is My money...

Millhouse

I can think of a million reasons!

Millhouse

but the question is have you stopped buying the coffee? i.e. have you acted upon the information?

For us, there really wouldn't be any point. It's all pretty much cut to the bone anyway, any further cut backs and mini would be hungry at lunchtime.