Competition and why I choose to ignore it

During a call with Matje, who showed interest in the project, he mentioned a certain budgeting software. He was a bit skeptical that I didn’t have heard about the app and didn’t research that many competing applications altogether (trust me, I did look at 20 or more, that was enough).

After I had a look at the mentioned application, I knew it didn’t turn up on my radar for good reason: It had neither of the two key features in Budgetfuchs. The harsh truth is: the majority of budgeting and personal finance applications out there are merely scratching the surface without going the extra miles in terms of collaboration, long-term planning, forecasting and even reporting can be missing.

I should mention that the various reports offered by hledger are quite an inspiration for me. Statements for balance sheet, equity sheet, cash-flow, income, register and all those can be filtered for all sorts of aspect and grouped by week, month, quarter and year. Try doing that in Excel.

At a vernissage yesterday I had a quite interesting conversation. I overheard two guests talking about Excel, naturally I joined in by mentioning that I do collect specialized Excel files as inspiration for Budgetfuchs. One point made was that few people (and in this case the man’s ex-wife) have a insight on how little they are actually saving; and how small changes to their monthly recurring expenses (e.g. subscriptions) will result in tremendous gains further down the road.

What an interesting idea to visualize this benefit in Budgetfuchs.

Published at 2018-10-20 — Thomas
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