Ep. 91 - Personal and Business Money Management Software

Are you looking for the best way to manage your money?  Rob has experimented with (6) different money management programs over the years and shares his experiences with all of them and what he is currently using to manage his business and personal finances.

He also dives into the subject of actually *needing* to account for busienss expenditures in the first place and contemplates what he might do if forced to do it all over again...

Why this topic?

My current 30-Day Goal - (1) Pomodoro Quicken each day

So...spoiler alert:  I use Quicken

Specifically Quicken Home, Business & Rental Property version on PC

This version is not available on a mac

Ties into my whole computing system that is a significant factor in my life as well

In the past I've used and/or experimented 

• Quicken
• Mint
• You Need a Budget (YNAB)
• Quickbooks (both Online and the installed desktop client)
• Freshbooks
• Xero

Why I returned to Quicken

• Functionality (especially PC version)
• Ease of recording / reporting (for taxes)
• Same program for both business AND personal
• Also the same program my father uses (but different version)

Should YOU have a separate business account?

I can't tell you that...

...but I can tell you why I have a separate business account..

Chasing other people's dreams

That's what they were doing

Recovered website has all these services I never did, just dreamed of and looked good

So...regarding business

Start doing business

Make money if that's your goal

Do something...

...and only incorporate or form an LLC if you have to

Otherwise you're just creating unnecessary work for yourself

There's no real need or cost benefit unless you've actually got some income to show for it

(in my humble opinion, and this is not financial advice)

If I was starting over, I'd not do anything with regard to an LLC unless I needed to.

Cash only with a simple paper ledger should be good enough to start

I've actually resorted to paper for what I'm doing 

Need to refine my business and start making money

I operate at a loss

Unsustainable

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This is Rob Kaiser and Thank you.