Buxfer, and my finances…and you.

I have been doing a lot of analysis over the past few weeks on my life. Perhaps it is because I have quit smoking, or I’ve been trying to live a bit greener, or who knows. One of my life goals however, is to get my finances in order. I figured now is as good of a time to start as any. Most recently I’ve been really checking over all of my investments, and I started to think about forming a good budget plan. Not something that is set in stone, but something that I can adapt as needed. For instance, restaurant week is coming up here in South Jersey and I really want to play. Going out a few nights a week is something that would be out of my normal realm unless I’m doing reviews. So a workable budget plan needs to be formed. Since I’ve become pretty much addicted to twitter, and to “life on the web” in comes buxfer. What is buxfer? Well from their first tour page they claim to help you :

  • How much money (or debt!) you have in your accounts
  • The breakdown of your recent expenses
  • Who owes you money and who you owe money to

I’ve gone ahead and imported my credit cards, my bank account, and via twitter, I’m now keeping track of the amount of money in my pocket down to the penny. Why would I want to do this? I’m now accountable, for everything I spend. With the tagging feature (which I find is a lot easier to use than Quickbooks or Quicken) I can look back and wonder what possessed me to spend $150 at Starbucks instead of packing my lunch. So far, I have about 6 months of solid data. Unfortunately most of those six months were right smack in the middle of my bad habits and bad spending. So I’m going to really start to use this month as a reference point. Just doing a quick review though, I spent too much money on interest and late fees (sadly not Blockbuster), so I know where I need to improve.

I can also see this being useful for doing the household finances. This way household bills can be split in a variety of ways, and everyone in the house can pay their fair share. Wish me luck, here we go. 🙂