Planning your expenses

Discussion in 'Managing an Online Community' started by Jason5, Jul 13, 2019.

  1. Jason5

    Jason5 Adherent

    When you are going to start a project how do you get starter with expenses. Do you allot a budget for your hosting, domain, and software or as you go you manage the expenses?

    I am a very careless planner, without giving a thought i go for hosting, domain and software and then cry over it. Without a plan i have lost around 30k INR :D

    How do you go about it, kindly share your experience.
  2. Joel R

    Joel R Fan

    I maintain an Excel spreadsheet that I update every couple of months. It contains two parts:
    1. Income / expense projections on a monthly basis.

    2. Record of every invoice # and amount in chronological order.

    I love experimenting (aka throwing money away) with third party apps, plugins, and other software so maintaining the budget is a good behavioral exercise to rein in my spending. It only sometimes works :p, but I give myself a "budget" to play around with stuff, so sometimes I need to save up that budget before I buy.
  3. R0binHood

    R0binHood Habitué

    I use Google sheets for basic expense planning of projects and keep a link in my bookmarks bar so it's just a click away.

    I recently did some accounts for a friend though and they have a dedicated business credit card set up with an expensify account. It's pretty neat, every spend on the card automatically gets tracked and added and itemised in Expensify.

    As an aside, if you have a lot of IRL expenses it's quite useful, because you can then load up the expensify app and take a snap of the real receipt to link it to the purchase and categorise it. I think most of the accounting software can do that these days, Quickbooks, Xero etc.
  4. dojo

    dojo Passionate admin

    I use You Need a Budget (the computer based app) to track our family and my business budgets. It allows me to really know what's happening with my money and see when I spend too much. It's easy to go overboard with expenses otherwise.
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