Actually, this tool's name is now a misnomer, I realize. It's just a savings worksheet.
I keep all my savings in one account and use this worksheet to remember what amounts are earmarked for which purposes. If I have a goal date, I note that on the spreadsheet.
I opened a savings account that's linked to my checking account; it has no minimum balance and makes it easy to transfer funds in and out of my checking account. Initially this was going to be for saving up money for various wants. Now that I've started an emergency fund, and started saving for AS's retirement since she has no job-sponsored plan, the account serves many purposes.
We also started having a surplus in the UK account this month, so I'm going to track that savings account and add it to the emergency-fund amount. It is accessible if an emergency does come up; it will just take a bit more effort to get to it.
That's the last of the personal finance tools I use all the time and consider essential. I've started spreadsheets to plan and track saving and spending for a specific vacation or project, and I have a spreadsheet where I'm going to track our individual net worth. Basically, any part of your financial life that you want more control over, an Excel spreadsheet can help you do that.
And I highly recommend putting them all in Google docs, because you can access them from anywhere, you don't have to worry about your hard drive breaking and losing everything, and it's a completely free method, unlike some budgeting software. Sure, you have to enter all the info yourself, but I feel like that makes me more involved in the day-to-day activity of my money, so I think it's a good thing.
Personal finance tools: No. 4 - Fun-Money Savings
May 6th, 2009 at 05:18 pm
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