OFX Import: Simplify Tracking Your Personal Finances

We are glad to announce that we have recently expanded the types of files that can be imported into InEx Finance personal money manager. Now you can also import OFX files besides CSV into your transactions register and eliminate the frustration of manual data input. This will greatly simplify the management and tracking of your personal finances and provide a consolidated view of all your financial resources (bank accounts and cards). The OFX (Open Financial Exchange) standard is supported by major financial institutions around the world for exchanging financial data via the Internet.

Importing OFX files into our personal finance software is quite simple. Just access the Import option in your profile settings, choose the OFX file to be uploaded and click on Start button. On the Import Data Overview, you can review General (the number of Import transactions, categories and resources) and Additional (name of financial institution, account number, account balance, etc – if available) data pertaining to the uploaded OFX file. After clicking on Finish Import button, the transactions in your OFX file will become part of your InEx Finance account.

OFX import is the first step to integrating bank account sync. Stay tuned to our future endeavors to enhance your online money management experience while budgeting and tracking family finances with us.

Published at December 28, 2011 13:23
Updated at November 10, 2012 18:24

Household Budgeting Made Easier

During the holiday season it's hard not to feel overwhelmed by the Christmas spirit and the amount of things you want to buy. Even the most frugal people are prone to unintentional overspending. But it's also the time of the year when you should be particularly careful with your personal finances and how you manage them, otherwise the financial stress and anxiety will get the better of you. If you don't want Christmas to catch you by surprise, the best thing to start with is drafting a realistic holiday budget.

InEx Finance free budgeting software offers a large selection of online budget planning tools that will help you live comfortably within your means and always be prepared for the unexpected. Personal budgeting isn't about deprivation, it's about making sure that your money is being spent on things that really matter. Most families just spend as needed and don't bother with putting together a monthly budget and tracking household expenses. This approach might work just fine for them until the money runs out way before the end of the month and they can't figure out how it could have happened. With our personal budget planner you'll always know how much you spend and what you have left.

Moreover we have added two recent features to our Budget tool to ensure that you are as accurate as possible in your personal finance budgeting:

  1. Budget overview sidebar – when you create a new household budget you are presented with a snapshot of your income or expenses in the selected category. You can carefully analyze your earnings or savings before deciding on the amount you want to allocate for your budgeted category. Your past activity over a period of six months gives you a better understanding of your spending/saving habits and helps you map out a realistic family budget.

  2. Budgets chart report – this is an useful reporting tool intended to give you an insight into your budget planning strategies. You can select any budgeted category and take a look at the chart illustrating your actual versus planned amount (income or expense) over the past six months. This report gives you a great visual idea of how closely you've managed to stick to your monthly budget plans and pinpoints the categories that need to be readjusted. You may point your mouse over a specific column to see the exact actual/planned amounts.

Household budgeting may seem a difficult task, but InEx Finance online budget planner makes it easy and worthwhile. Efficient budget planning strategies not only create opportunities for eliminating unnecessary expenses, but also reveal ways to save money. If you want to enjoy a more affordable holiday season, arm yourself with a realistic personal budget and make sure you follow it.

Published at December 21, 2011 18:02
Updated at December 21, 2011 18:02

Keep Tabs on Every Dollar with Itemized Expenses

Automated expense tracking is a must for any personal finance planning and budgeting software. You only enter your daily transactions and the system processes your data and presents consolidated reports. It's easier to take control of your spending when you have a clear understanding of how and where your money is being spent. InEx Finance personal money manager provides efficient expense tracking tools for multi-currency transactions, that will help you keep tabs on every penny spent and choose the right strategies for personal budget planning.

Organizing your transactions into meaningful income and expense categories, as well as labeling them with useful tags, can improve tracking and provide better insight into your spending habits. For example, you go out with your friends to enjoy yourself. You decide to have dinner at a restaurant for which you pay $250. So when you come home, instead of just recording your expense transaction under the category "Entertainment", you could make it more informative by adding some tags as well, for instance "restaurant" and "friends".

We have taken it a step further by making InEx Finance expense tracking system even more sophisticated. A recently added feature enables you to itemize your transactions and enter separate elements that make up the total expense/income amount. This is particularly useful when you need to split larger transactions (multiple item receipts or invoices) but don't want to create separate records for each item. In the above example, the itemized expense transaction entered under the category "Entertainment" and tagged with "restaurant" and "friends" would look like this:

Item No Name Expense Amount
1 Wine 46 USD
2 Appetizer 27 USD
3 Salads 35 USD
4 Main course 77 USD
5 Mineral water 12 USD
6 Dessert 43 USD
7 Tip 10 USD
Total 250 USD

If you want to recall how much exactly you paid for the wine while eating out with your friends, you just find this specific transaction using our advanced search functionality and take a look at its items.

With the itemized transaction feature you can keep tabs on every dollar you spend and easily determine any discrepancies when the total amount doesn't match. With our personal finance manager you can rest assured that you'll always know how and where you spend your money. Streamlining your personal finances will lead to effective budget planning and money saving.

Published at December 13, 2011 19:45
Updated at February 04, 2012 11:31

Financial Goals Become More Tangible with InEx Online Money Manager

Setting financial goals plays a very important role in personal finance management. This is probably the first step a family should take while starting to manage their money in a conscious and organized manner. Similar to prioritizing your needs while creating a household budget, goal planning also requires some thorough thinking and analysis. If you want your goals to become something more than just a bunch of ideas put down to pencil and paper, then you should exert self-discipline and follow these simple rules while defining your goals:

  • Be clear and specific: don't confuse your desires with your goals. A personal goal is bound to success if it's formulated clearly and concisely and doesn't describe the end result in overly broad terms. Setting vague goals will serve you no purpose.
  • Be realistic: it's important to set goals that you can actually achieve. Of course we all have desires and ambitions, but to actually reach your financial goals you'll have to consider a lot of key factors, like your family budget, income vs. expense trends, future planning, etc. Pie-in-the-sky goals will get you nowhere.
  • Set a timeline and measure progress: it's easier to commit yourself to your goal and direct all your energy to achieving it when time is pressing. Having set milestones will keep you well motivated and focused on the end result. Also don't forget to check your progress and evaluate the intermediary data.

Our personal finance software offers the right online money management tools to help you set financial goals and monitor your progress. The Goals feature allows you to create simple or more complex goals and set aside money by means of effective budget planning and informed spending decisions. You can build a strategy to save money that's right for you and your family and stick to your plan. For simple goals (for example, buying a new bicycle for your kid or saving for the down payment on a home) you may not need to divide the goal itself into smaller items. However when you set more complex goals (for example, saving for a dream vacation in some exotic place) you may want to break the individual goal into smaller parts like:

Item No Name Amount
1 Flight tickets 1,500 USD
2 Hotel fare 1,100 USD
3 Souvenirs 300 USD
4 Sightseeing & tours 284 USD
Total 3,184 USD

Having your goal divided into smaller pieces, you can take it one item at a time and work towards the larger goal. The benefits of such an approach is that you can reach the sub-goals faster and thus the main goal becomes more tangible and within the reach.

Personal finance management is not all about budgeting and expense tracking. It also includes setting individual financial goals and achieving them with InEx Finance online money management software. And remember: the harder the battle, the sweeter the victory.

Published at December 06, 2011 19:58
Updated at February 04, 2012 11:25

A new design for your personal financial planner

We have implemented a massive redesign of our personal finance software with the intent of making our website more user-friendly and appealing to its visitors. Our main goal was to build a relatively simple, yet elegant, design that would allow for easy navigation, intuitive perception of various website tools and enhanced user experience. We used the great Twitter Bootstrap CSS and JavaScript library to develop the new look for our online financial planner.

Apart from sitewide design changes, we have also added breadcrumb navigation to help InEx Finance users easily grasp the internal website structure and instantly access the information, tools or features they may need in the process of managing their personal finances.

We always strive to provide the best possible user experience in online money management and we hope the above changes will live up to your expectations.

Published at November 18, 2011 18:52
Updated at November 18, 2011 18:55