Archive for June, 2014

A lack of good budgeting tools and why I started my own

Saturday, June 28th, 2014

Last year I did terrible in managing my money .. I basically used my credit card for everything and by the time I payed it back (every month, in Germany that is quite common) I needed to use it again because I only got enough to pay it back. So I spent 3000€ and I payed back 3000€ .. which was the problem: I was running after my money, constantly.

Then my beautiful girlfriend Elizabeth introduced me to Dave Ramsey (www.daveramsey.com) and inspired me to change my spending habits big time. So, then I started budgeting and managed my money better .. honestly I rather tried .. and failed .. and succeeded .. and failed .. and … and I am still on my way. I created an Excel-Sheet that was helping me managing the money. You need to realize I owned at the time: One German company, one american company and my own private money. So I had to consider three different entities for my finances. And then I looked into budgeting tools because my sheet reached its limits.

And guess what? I did not find one that fulfilled my criteria:

  • International, multiple currencies
  • Multiple accounts (private, business A, business B, spouse,…)
  • Bank Connection
  • Virtual Accounts / Funds
  • Goal setting
  • Automized transaction generation to manage funds, goal and bank accounts
  • easy to use

While some tools have great features and cover some of the things I really needed, all of them together I did not find. So I started working on my own tool and called it accordingly to my company: Skelpo Budget (www.skbudget.com)

The great thing about creating your own tool is that you can customize it in a unique way. Talking to my friends and partners I realized: I am not the only one having that problem, quite a few people would have use for such a tool.

And so here it is, Skelpo Budget, fulfilling all the requirements mentioned above. And right now we started in beta .. everything is for free and it is still a lot to do. But the goal is clear: The easiest and best working budgeting solution for people with high expectations.

Please do register there (email me at ralph@skelpo.com for the beta code) and test it. Stay tuned for more updates very soon (weekly) and see this project grow.

Everything is free during beta and even after, I honestly don’t want to rip anyone off but I really want to help people to get through the same problem I stood before last year. So I can promise that the monthly fee won’t be much (I guess something around $5 per month or so). Help me out here guys! :)

Thanks for reading,

Ralph