How are you tracking your runway?
I'm trying to figure out the best way to be budgeting and calculating my financial runway.
I've spent a couple months now putting together a system that helps keep me on track but it's not perfect.
Would love to hear from the rest of you on how you think about your runway and what system you've found to work best for you.
I rarely check it. I made a spreadsheet once to say that I have X months of runway, and I'll re-evaluate if I get close to that marker. I'm pretty frugal so I tend to overestimate my needs and make really conservative predictions.
Ahh I see. I wish I could be more like that, but living in Seattle and having friends who are big spenders can get stressful! Now that I think about it I think a large part of why I budget now comes from social pressure.
I have friends who are currently employed, we go out to dinner weekly but usually pretty cheap places so it's not tough on the wallet. Honestly my worst financial decisions this year have been around stock market investing rather than any standard personal-finance issues. The other aspect for me is that I feel like my financial results over the next year are going to be dominated by whether or not my startup succeeds rather than any other decision, so I don't stress on the small stuff very much anyways.
This comment was deleted 7 years ago
Yeah, so I've been using Google Sheets for high level planning and personal capital for categorizing expenses. Personal Capital has this great line graph that shows your spending over time but what annoys me is there's no way to ignore/split transactions so that sorta invalidates it for me most months :(