We all know that running a business takes up a great deal of time. It can be very tempting to overlook your own finances when you’re keeping a close eye on your business spending. This is what inspired Lyn Kent, the Director of Belsoft Strategic Accounting, to assess the benefits of managing her own personal finances using Xero online accounting software. While Xero is designed for businesses, it adapts perfectly to keeping track of domestic finances.
Taking personal finances from nought to Xero
According to Lyn, the main advantages of using Xero for her personal finances were very similar to the benefits of using it for business:
“Xero brings everything together in one place so you gain a much better idea of exactly what’s happening with your finances day to day! It’s easy to set up and easy to use. The software is very flexible so you know that the information you are looking at is very much personal to you and your everyday costs.”
In Lyn’s view, the advantages include:
Time saving: “Using Xero meant far less time spent keeping on top of my personal finances. I managed to reduce it down to just a few minutes a week.”
More up to date: “The software allows me to see exactly what state my finances are in, even with bill payments going out and money coming in. This gives me more confidence about the decisions I make about my spending.”
Everything in one place: “It’s really useful to be able to see every aspect of your finances in one place. I had a much clearer picture of exactly where my money is going.”
Peace of mind: “I definitely gained more peace of mind by using the software because I had a much more accurate insight into the day to day state of my finances.”
Like to have more control over your personal finances?
Would you like to be able to keep better tabs on your personal finances? We believe the best Xero product to do this at this stage is Xero Cashbook. While Xero Cashbook is not available to the general public, you can purchase it through us. If you’re interested, simply email us at: firstname.lastname@example.org and we’ll get back to you.