I paid off my wedding debt without too much pain!

24 Feb 2012

François uses BudgetExpress for his personal financial planning. Having the possibility of creating different scenarios and see their long-term impact has been very useful to him when came the time to pay off the wedding debt…

User profile
Man, 34 years old, software engineer, owner of his residence on Montreal’ south shore, recently married to his life partner, has no kids, owns a recent car and still makes payments for it, actively contributes to his RRSP, considers his debt rate to be low.

Why make a budget?
Closely following his budget allows François to control his spending and save for future needs. This is very important to him. After all, you never know what life holds for you… He has been monitoring his budget for several years with BudgetExpress, but also with a spreadsheet that he built himself in order to push further some elements, e.g. more detailed graphics. Let’s not forget he is a software engineer!

How he uses BudgetExpress
François updates his budget several times a week. He takes the time to manually synchronize transactions from his bank account with BudgetExpress’s calendar view. He explains: “I like to be able to see my short-term cash flow. For example, if I have $ 100 in my account and I spend $ 50, I know my balance is positive at the end of the ay, but what will be the impact in 1 week, 2 weeks or on the long term?” François likes the fact that BudgetExpress updates automatically. For example, if he modifies an operation on a given day, he also has the option to change it for all subsequent instances. Finally, he likes to use BudgetExpress to create financial scenarios and to make them come true.

“Yes I do!”
A few years ago, François got married to his sweetheart. Like any couple that makes the leap, he got the gift of a tidy sum to be reimbursed for all the costs incurred. Fortunately, BudgetExpress allowed him to validate what would be the best way to repay that debt as quickly as possible according to his usual charges. Phew!

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