Yes, i think you are right. I will probably have to run two sets of books, which is what I am sort of doing now. But I wish there was an easy way to go from two sets of books to one budget. If I budget S$500 for food, and then spend S$400 and US $50--do I convert the US$50 to Singapore $? At what exchange rate? The rate I originally changed money at or the current rate or an average rate? There's not much difference--a few dollars, perhaps. I think it is my perfectionism that is causing me to procrastinate on this. I know I just need to make a decision on how to do it, and then actually start doing it instead of just thinking about it. Getting caught up in these little details gives me a perfect excuse for procrastination!
Hi I had the same challenges, I live in Indonesia, but with frequent expenses in Singapore currency. What I do is to track everything under one currency (the one I use most often) and then convert the other expenses into the one being used and track them in Excel. I also like to see all my expenses under one sheet. Then I can see what is my outstanding budget, and how much I have spent to date very easily. I use an average exchange rate, which I determine every month, so at the end of the year there is a fairly accurate expense tracking. I track income sources separately.
JMJJ215, aka Jesse, has an Excel-based Budget that I've been using for my modified minimum wage challenge. It's at www.youneedabudget.com. It's 19.95 USD, and I've been pretty happy with it overall. (I'm not affiliated with Jesse in any way and know of him though postings to the Forums.) The website explains it pretty well. Best of luck to you!
March 28th, 2006 at 08:09 pm 1143576561
Do you transfer money into the american account from the states or are you just using previous money?
March 29th, 2006 at 10:34 am 1143628485
April 4th, 2006 at 06:18 pm 1144174692
April 9th, 2006 at 10:37 pm 1144622265