I use GNU cash, which is free open source and excellent S/W. It uses double accouting and can also process all needs and can create all types accounts - income, cash, credit, stocks etc etc..
Credit Card is a great tool which has actually helped me to lower my spending and increase savings.
How?
1) I have a report in my software for exvery Rs.100 expenses happened in last 4 yrs. That is possible because I swipe CC for every little transaction. So that i can keep track and restrict myself from doing unnecessary spending. This is not possible with spending cash. you never come to know where did you spend the cash.
2) Last year i redeemed 19k points and got few items which were anyways free. That doesn't mean i shop for points, Points are by products. you redeem or don't.
Thus Not doing unnecessary expenses is savings for me :)
Joined: 17/Apr/2010
Location: India
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Posts: 331
Posted: 15/May/2010 at 11:13pm
That is possible because I swipe CC for every little transaction. So that i can keep track and restrict myself from doing unnecessary spending.
You seems one of few people for whom credit card facilitating savings otherwise most people over spend with credit card due to ease of use, no involvement of physical cash etc.
I think one of the best practice I have seen is allotting yourself some cash at the beginning of week and then limiting your expenses through out the week in that budget..
One of my friend does that and I know he saves lot of money..
Joined: 15/Jun/2010
Location: India
Online Status: Offline
Posts: 608
Posted: 05/Jul/2011 at 2:12pm
Originally posted by learn2earn
I think one of the best practice I have seen is allotting yourself some cash at the beginning of week and then limiting your expenses through out the week in that budget..
One of my friend does that and I know he saves lot of money..
I practice this on monthly basis. Start of the month, I withdraw some cash from ATM. My target is to use the cash till month end and not to withdraw from ATM until next month.
I have been able to limit my monthly expenses this way till date.
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otherwise most people over spend with credit card due to ease of use, no involvement of physical cash etc. 
