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How much time do you Simplifi weekly?

Flopbot

This is a topic I’m curious about. I’d love to poll the community. How much time do you spend weekly on managing your finances using Simplifi?

For me, I spend roughly 3-4 hours a week on Personal Finances and roughly 1.5 hours a week on our Business Finances with Simplifi QBP. These numbers continue to creep down as more and more things get automated or simplified by Simplifi. At present, I have roughly 25 accounts linked to Simplifi; over half are SAV accounts dedicated to specific topics (Car, B-Days, X-Mas, etc.).

Look forward to learning from you!

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Comments

SRC54

I would say I spend about 1 hour per day fiddling with it. I spend a little more because as I peruse the community and see suggestions and problems, I try to recreate them in my file. So I end up putting in dummy transactions, etc to see the results.

In addition, I use Quicken Classic so I am double checking my numbers a lot making sure everything is squared away. Actually, I update in a few minutes each morning and then mid-morning I do so again. Then in the afternoon, I update again to get the latest numbers from the Stock Exchange.

I have 21 accounts and about 5 of those are manual or asset accounts.

If it weren't for the community, I would probably spend no more than 30 min per day. It's not much, but since I'm retired, it's more a hobby for me.

DryHeat

I average about 20 minutes a day actually working with QS and QBP because I am doing multiple jobs: handling my own accounts, handling the accounts for a small non-profit, monitoring my sister's accounts, and advising my daughter on how to handle the accounts for her LLC.

Doing it a little bit at a time each day makes quarterly and yearly tasks a breeze and sets me up to handle taxes more easily when that time comes around.

DannyB

I spend 5 - 10 minutes/day Tuesday - Saturday (Sunday and Monday any new transactions are pending, and I don't bother with those until they clear, usually on Tuesday. Honestly, at this point, I could do all this once a week, but it's part of my morning routine.

I have 10 connected accounts (2 checking, 5 credit cards, 3 savings) The two checking accounts and one cc account are my main activity accounts and 90% of that activity is recurring activity already set up in QS with very few if any misses in any given month. Most of my actual "fiddling" in QS is related to transactions that land in "Other Spending."

TheReal702

When I first signed up for this service I spent a lot of time due to the significant number of problems with the software. Once some of the bugs that affected me were resolved, it cut down to about a half hour per day. Now several months into it and being over the top of the learning curve, it varies depending on the initial download of the day. If there are no errors a few minutes per day is all I need. For me, the secret was to stop any and all manual entries and let it download every single transaction. It works far better this way for me. I still have issues with it, but they are becoming more rare. I have even stopped using Quicken Basic as a backup since I feel I can finally trust Simplifi. With all of that said, I hope I haven't jinxed myself.

DryHeat

@TheReal702

"For me, the secret was to stop any and all manual entries and let it download every single transaction."

Same for me. I do use recurring transactions for my repeating bills, but entering regular transactions as they occurred was a waste of time — both the time spent entering them in the first place and the time fixing matching errors. My slowest accounts download within a couple of days and that's good enough for me.

DannyB

I stopped doing manual entries way back when I first started using digital banking that connected to my banks allowing data downloads… '00 or '01? That seemed to me to be one of the top benefit of these apps. I did manual entries for years starting in 1971 when I opened my first checking account and the only way to keep track of daily spending was with pencil and paper. No manual entries in MS Money, Quicken Classic and now QS. 😁