WHY BUDGET SPREADSHEETS AND WORKSHEETS WILL WASTE YOUR TIME!

Personal budget spreadsheets are worksheets are too often touted as the solution to personal money management problems.

There are good reasons why budget spreadsheets and worksheets, whether free or cheap, are a waste of your time and money.

What's more, there are better alternatives to personal budget spreadsheets and worksheets - take a free trial to see how you can achieve a better budgeting result, quicker and more easily.

In this article, I'm going to explain the most important reason why budgeting spreadsheets and worksheets are a poor way to fix your finances.

But before then, I want you to consider what you need from a budget.

As I see it, what you really want is a budgeting process that will make things easier for you in the long run. If you want something that will be easy, but will also save you time, here's what to look for in any budgeting system:

• A System that makes it easy to identify where savings can be made.
  To give you more money to put towards your future, reducing debt or building personal wealth.
  
  
• Accuracy.
  Any inaccuracies can leave you vulnerable. Without accuracy you could be spending a lot more than you realise - without knowing it or being able to do anything about it.
  
  
• Insight & Understanding.
  This is what you're seeking from your budget in the first place. Too much information can lead to confusion. You need clear strategies and an understanding of what to do next, not just a sea of numbers.
  
  
• Quick to Implement.
  You don't want to spend unnecessary time collecting and entering information. Your time is precious, as is your effort. You want the quickest time to enter and update your information, without compromising any details.
  
  
• A view of your accounts, and the big picture.
  To minimise unnecessary fees and charges, you need to know what's going on with each account, not just overall. A simplistic overall picture can cost you money - because things might look fine overall, when in fact one or more accounts are overdrawn and attracting fees, losing you money.

We have developed a software solution to address all of these issues!
It's available now and for immediate download.

Budgeting worksheets and spreadsheets are pretty weak as a money management system, especially compared to the alternatives. Bear the things above in mind as I highlight why budgeting spreadsheets and worksheets are not the solutions that they pretend to be!

WHY SPREADSHEETS AND WORKSHEETS ARE A BAD WAY TO SEE WHAT'S GOING ON WITH YOUR MONEY

Both spreadsheets and worksheets are a poor way to handle a personal budget. Spreadsheets are great for managing lists, and for simple accounting - but for not a personal budget.

When it comes to budgeting, the ultimate goal of the exercise is to get insight into your personal finances, not just numbers.

Numbers are important, but they are no use if you can't understand what they mean.
You need to be able to draw meaningful conclusions from your budget to be able to make the right decision about what to do next.

If you are unable to understand the results of your budget you won't be able to make a decision about what to do next with your money.

One reason that spreadsheets are a bad way to see what is happening with your personal finances is its grid like interface. A spreadsheet is just rows upon rows of numbers and words.

For most people, spreadsheets are not an easy and natural way of reading or understanding what's happening with their money. They may provide details, but not much of a bigger picture, such as an idea of trends and patterns.
 

Looking at the example below, which is easier to see how your budget is progressing?
The budget spreadsheet, or the graphical display of Budgets and Actuals in Budgets Get Real?

Too much detail can stand in the way of understanding your budget, and cloud your view of what is actually going on with your personal finances.

BUDGET SPREADSHEETS AND WORKSHEETS TAKE TOO MUCH TIME AND EFFORT

Spreadsheets may be cheap, or even free, but the time they take to use is significant.

Don't forget that time is money, and that any time you are forced to unnecessarily spend on a budget could be spent with your loved ones, or used to find ways to make yourself extra money!

The big problem with budget spreadsheets and worksheets is that you do all the work - either by hand, or by entering a large number of details into your computer. This takes too much time and effort. Isn't the point of using computers to help you save time?

The truth is that getting your information into a budget spreadsheet or worksheet takes a lot of effort.
 

1. You have to collect all of the information (takes weeks or months)
   
   Many budgeting gurus (and suppliers of free budget spreadsheets) recommend that before you start on a budget you need to collect several weeks or months worth of receipts, and pay slips. This is not only time consuming, but it can be problematic — especially if you want to start budgeting now.
   
   For a spreadsheet or worksheet budget to be accurate you need to collect all of your incomes and expenses. What if you don't have all of your receipts? What do you do then?
    
    
   
2. And then you have to enter it (can take hours)
   
   Once you've collected all of your incomes and expenses then you have to enter them into your spreadsheet or worksheet. If you're using a worksheet you will have to do all of the calculations yourself.
   
   What if you enter something wrong?
    
    
   
3. Repeat every week, fortnight or month
   
   You will repeatedly be filling in another worksheet, or updating and entering more into your budget spreadsheet. Budgeting worksheets can easily be 7 pages long.
   It's almost like starting all over again - except this time you also have to check what you spend against what you budgeted.
   
   There are also individual expense records, and bank account and checkbooks that need balancing...

Spreadsheet and worksheet budgeting is not only time consuming, but in the end your budget is probably going to be wrong.

PERSONAL BUDGETS FROM A SPREADSHEET OR WORKSHEET ARE LIKELY TO BE WRONG

It's easy to make a mistake with a spreadsheet and there is so much that can go wrong.So, how often are spreadsheets wrong? More often than you might think...

Let's start with how you enter data -
If you can't remember how you have spent all of your money your budget won't be accurate. Remembering all of your expenses over several weeks or months is not realistic - something will always get forgotten.

With an inaccurate budget (and you won't know how far out it is) you will still be spending more than you think you are... which defeats the purpose of having a budget in the first place.

Collecting and remembering all of these expenses is the step that budgeting spreadsheets, worksheets and free budget 'gurus' list as being the most important step you will make in creating your budget.

Then consider the accuracy of the results -
If you're using a budget spreadsheet that you have bought or downloaded from the Internet, and you're relying on the formulas in the spreadsheet to be correct, think again... because research has proven that spreadsheets are often wrong.

It's easy to make mistakes with a spreadsheet, even if you are trained to make and use spreadsheets.

A study of spreadsheets in major accounting firms found that "between 11% and 91% of the spreadsheets audited were found to contain bugs"! The study also found that because spreadsheets are built by "untrained end users" the "mistakes in spreadsheets are often uncaught. And error rates are likely to be much higher than in commercial software". 3

Wouldn't it be nice if there was an easy way for you to collect your expenses, without having to keep stacks of receipts, or wait weeks or months to get started managing your money? Read on...

YOU NEED TO BE LOOKING FORWARD, NOT TRAPPED IN THE PAST!

Personal finances have changed so much since the late 70s, but budget spreadsheets have not. There are more ways to spend money than ever before, and our personal finances have become more complicated. These changes demand a more sophisticated way of budgeting in order to keep up.

The problem with most personal budgeting spreadsheets, worksheets and software is that they look backwards and not to your future.

They only look backwards at what you've spent. Analysing your spending is important, but it's something that you can't change.

To successfully manage your personal finances you need to manage your money now and in the future, whilst understanding what has happened in your financial past.

Discover a system that will let you budget your money effectively today and plan for the future - click here.

SPREADSHEETS ARE PRIME TARGETS FOR VIRUSES - ON MAC & PC

Excel Spreadsheets are extremely vulnerable to a specific type of viruses, called macro viruses.

In 2004, macro viruses accounted for approximately 75% of all viruses. 1

Many budget spreadsheets run on small programs called macros. Anyone can create a macro and put it into a budget spreadsheet. Not all macros are harmful, but some can be very destructive. Macro viruses are spread through email attachments, disks, networks, modems and the Internet. 2

Macro viruses specifically target documents such as MS Word and MS Excel files and spreadsheets. For this reason it doesn't matter whether you're using a Mac or a PC, you're still vulnerable. Imagine the frustration of losing these files because of a virus.

If you are going to use a budgeting spreadsheet, the safest way to do so is to disable macros, and check that your anti-virus software is up to date.

WHY BUDGETING SPREADSHEETS AND WORKSHEETS AREN'T UP TO THE TASK OF EFFECTIVELY MANAGING YOUR PERSONAL FINANCES

In most cases, the publishers of budgeting spreadsheets and budget planners have done so because it's quicker and easier for them than to create software specifically for the purpose of managing your money.

Software created with the specific purpose of managing your personal finances and budget is always going to be better than a budget spreadsheet or worksheet.

Purpose-built software can create more features and reports to benefit you, the user, and are not limited to working within a spreadsheet structure.

In the end you need to consider the following about budget spreadsheets —
these spreadsheets are not easy to understand, they are prone to viruses and errors, and offer limited reports. Overall, budget spreadsheets create more work for you to do, rather than making things easier for you.

And when it comes to budgeting, they just can't offer the same level of easy to understand budgeting, expense tracking and custom reports that professional budgeting software like Budgets Get Real can.

THERE ARE BETTER ALTERNATIVES TO PERSONAL BUDGET SPREADSHEETS AND WORKSHEETS - ACHIEVE A BETTER RESULT, QUICKER AND MORE EASILY

Budgets Get Real is a budgeting solution that saves you considerable time and effort over any budget spreadsheet.

Budgets Get Real puts all of your personal finances in one place, making it easy to track bills and expenses.

   Faster and more accurate than spreadsheets:

• Import your expenses directly from your bank account, loan or credit card.
  No data entry, no errors, no forgetting. This is a huge time saver!
  
  
• Budgets Get Real reduces errors, because the calculations are done for you. Plan with confidence, knowing your budget is accurate.
  
  

   Easy to understand and analyse:

• View your up-to-date accounts, budget and big picture at a glance.
  
  
• See what's ahead. Your upcoming bills, budget and cashflow predictions for the next 2 years!
  
  
• Clear reports provide you with an easy way to understand your personal finances - past, present and future. Budgets Get Real includes all of the standard reports you would expect, with powerful new ones to provide you with clear strategies of what to do next.

What Budgets Get Real offers you

Freedom & Opportunity

Less Fighting Over Money

60 Day Money Back, Satisfaction Guarantee

Advanced Technology. It does the work for you!

A Complete Picture. View all of your accounts and loans at once.

Freedom to use at home, work and on the go. Runs on both PC & Mac. Take it anywhere, it's portable.

No ongoing costs + Free support

A way to track your spending, budget and balance your checkbook in less than half the time.

A complete money management system - with good tools and information. Jargon free!

Exceptional security for your data

Budgets Get Real is not just budgeting software, it's a complete personal budgeting system.

It's powerful, but easy to use.

... And it comes at an exceptional price!

 

We are so confident that Budgets Get Real is
the solution to successful budgeting that we
offer you a 60 Day Money Back Guarantee.

If Budgets Get Real isn't the best value, fully-featured personal budgeting
system that you expected, we will refund your money.

Start budgeting right away - Budgets Get Real is
available for immediate download.

1. http://www.webopedia.com/TERM/M/macro_virus.html
2. http://support.microsoft.com/kb/187243/en
3. http://www.lumina.com/ss1/spreadsheet1.html

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You should obtain independent advice on any specific issues concerning you.
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