For everyday tracking of the checkbook and other accounts, I am using Quicken, but the Mac version is not ideal and so I am considering iBank (it is good for personal accounts and for small businesses).

Here is what I do to manage cash flow: I keep some extra money in checkbook for irregular expenses – I enter it as a transaction called “irregular fund” in Quicken and set the date to the date before my next paycheck. If I need money for something that comes up, I deduct it from the “irregular” entry and then enter a separate transaction for the expense. At any given time, the “irregular fund” is between $50 and $150, and so far this has been enough to cover most things that crop up, and I have not yet had to touch my emergency savings account.

When I receive the next paycheck, I designate part of it for irregular expenses and add that to the amount in the “irregular” entry, then redate the “irregular” entry so that it moves to the date before the following paycheck. Takes a minute but it keeps me covered. You could essentially do the same thing by setting up “irregular” as a separate account, but then it would not be as easy to balance the checkbook each month.

I also put a budgeted amount for gas & groceries & misc. items each week. As I enter each transaction, Quicken shows me the amount remaining, and so I know how much I have left for the week.

I also use an Excel spreadsheet — but mainly for long-term planning.

I like it because I can break down my money into the different categories of my budget. So all I have to do is open my file and I can see exactly how much I have in entertainment, grocery, housing ext. I can also include all of my various checking accounts in there and savings accounts as well and keep track of each individual balance and my cash on hand total as well.

I can also do a monthly profit/loss statement and see where all my money is going. It’s really easy to use. I LOVE IT!!!

From a budgeting point of view I’m trying to implement an idea my Dad has done for years. Simply he keeps two accounts, one for regular occurring bills, he sets the same amount in each month and simply notes when a bill has been paid. Secondly I set my discretionary budget (shopping gas spending etc) in a separate account. At a glance I can tell how much money I have left for the month. It’s a super simple system that ensures you always have something left over each month. The main problem that my wife and I have had over the years have been cash flow crisis. All of sudden your skipping payments taking cash advances, payday loans and your most carefully laid plans are mincemeat.

This is where I’ve been focusing most of my effort reducing and then eliminateing cash flow crises.

I use Quickbooks simple start for business, and I like it OK. I think for my personal accounts I’d probably prefer an online solution. I often switch back and forth between computers, and I like access to my program, from both computers.