RupeeManager is an easy-to-use personal finance software to manage your money. It primarily helps organize one’s finances and keeps track of where, when and how the money comes and goes.
Once we start measuring our money, we automatically start improving our money management. And that’s what RupeeManager software helps you to get started with.
Other than tracking your earnings and your expenses, it is important to see if your money is working for your future. We have a feature where you can allocate your income among fixed expenses, discretionary expenses, short term savings and long term investments. It’s like assigning goals for your money.
Also, we have built in a financial health check in the software which gives you an idea about your risk profile and how your asset allocation should look like Stay Tuned. Thanks
Managing Money is the second of the top two New Year resolutions. The top one is, of course, losing weight. The fact that we need those resolutions every New Year, makes it obvious that we don’t keep those resolutions for long!
The reason we are not good with managing our money is not hard to find. Fear of numbers, information overload in the media, financial jargons and the complexity of financial products adds to our inertia.
As you read along you’ll find that the real reason why people do not manage their money is that they don’t know anything about their money. How it is coming, where it is going, whether it is lying idle, etc.
The primary goal of RupeeManager is to simplify the process of tracking financial information without making it complex like some of the popular personal finance software packages.
It is also useful to remember that becoming organized financially requires some amount of discipline. Financial management becomes complicated because there is no clear understanding of cash flow or an idea of income against expenses. Debt is usually what results when expenses exceed income.
The first step towards better financial organization is keeping good records. Only when there is recognition of the expenses being made on a day to day basis will there be an understanding on how to cut back.
The three guiding principles that have helped conceptualize the software are
1. Measure: (Know Yourself)
2. Manage: (Know how your money is doing)
3. Make Your Rupee Work: (And not just You working for Money!)
1. Measure: It is common knowledge that whenever you need to manage something, you need to measure it first.
The idea is that, if we had a way to measure income, expenses, portfolio, risk profile, etc, we could have a discussion on how to improve them. No records, no improvements.
The RupeeManager® is primarily aimed at helping you measure your rupee. Once you are aware, other things follow naturally.
2. Manage: Now that you have numbers ready, the improvements follow naturally. For example, you see that your percentage spend on “eating out” is 2-3 times the monthly grocery bill or it forms 25+% of your expenses.
Also, you will get an idea how to balance your portfolio according to your risk profile. You will match the portfolio with your risk appetite and see if you can take more risk or go more conservative. In other words, you get to decide your asset allocation strategy.
3. Make your Money Work: Other than tracking your earnings and your expenses, it is important to see if your money is working for your future.
We have a feature where you can allocate your income among fixed expenses, discretionary expenses, short term savings and long term investments. It’s like assigning goals for your money.
Always remember the software can only be as good as the data it has to process. Garbage In Garbage Out. But if you have started thinking of even using a Personal finance software you are well on your way to making every Rupee count