1 00:00:00,000 --> 00:00:01,920 Welcome to the deep dive. 2 00:00:01,920 --> 00:00:03,280 Before we kick things off today, 3 00:00:03,280 --> 00:00:04,440 just wanna give a quick shout out 4 00:00:04,440 --> 00:00:06,740 to our supporter, Safe Server. 5 00:00:06,740 --> 00:00:08,140 They handle hosting for software 6 00:00:08,140 --> 00:00:09,440 like the one we're discussing 7 00:00:09,440 --> 00:00:12,040 and can help with your digital transformation. 8 00:00:12,040 --> 00:00:17,040 You can find more info over at www.safeserver.de. 9 00:00:17,040 --> 00:00:18,920 All right, so today we've got some source material 10 00:00:18,920 --> 00:00:19,760 from a listener. 11 00:00:19,760 --> 00:00:23,280 It's all about a personal finance app called Actual Budget. 12 00:00:23,280 --> 00:00:26,120 Our plan for this deep dive is pretty clear. 13 00:00:26,120 --> 00:00:29,800 Look at these sources and figure out what Actual Budget is, 14 00:00:29,800 --> 00:00:31,160 how it supposedly works, 15 00:00:31,160 --> 00:00:34,160 and what the material claims makes it special. 16 00:00:34,160 --> 00:00:35,600 And we're really aiming to break it down 17 00:00:35,600 --> 00:00:36,440 so it's easy to follow, 18 00:00:36,440 --> 00:00:38,800 especially if you're maybe new to using apps 19 00:00:38,800 --> 00:00:40,080 for managing money. 20 00:00:40,080 --> 00:00:42,520 Yeah, and what really jumps out right away from the sources 21 00:00:42,520 --> 00:00:43,720 is that core pitch. 22 00:00:43,720 --> 00:00:46,360 They built this fast, really focused on privacy, 23 00:00:46,360 --> 00:00:49,460 and built around this method they call proven 24 00:00:49,460 --> 00:00:51,160 for getting a handle on your finances. 25 00:00:51,160 --> 00:00:52,920 Okay, let's unpack that first bit then. 26 00:00:52,920 --> 00:00:56,320 What exactly is Actual Budget based on these documents? 27 00:00:56,320 --> 00:00:59,520 Well, they describe it as a, well, super fast application 28 00:00:59,520 --> 00:01:01,440 and heavily privacy focused. 29 00:01:01,440 --> 00:01:04,320 Designed specifically for personal finance management. 30 00:01:04,320 --> 00:01:05,940 And that privacy thing seems key. 31 00:01:05,940 --> 00:01:07,240 You mentioned local first. 32 00:01:07,240 --> 00:01:11,180 Exactly, the sources stress that it's local first software. 33 00:01:11,180 --> 00:01:14,440 Basically, this means the app works fine 34 00:01:14,440 --> 00:01:16,200 even if you're offline. 35 00:01:16,200 --> 00:01:18,680 Your data, it lives on your device first. 36 00:01:18,680 --> 00:01:21,320 Syncing, if you set it up, just happens in the background 37 00:01:21,320 --> 00:01:22,360 when you do have internet. 38 00:01:22,360 --> 00:01:24,560 Right, which connects directly to that big claim 39 00:01:24,560 --> 00:01:27,240 the sources make, you own your data. 40 00:01:27,240 --> 00:01:29,720 They seem to really hammer this point home. 41 00:01:29,720 --> 00:01:33,240 The material even mentions optional end-to-end encryption. 42 00:01:33,240 --> 00:01:35,240 Mm-hmm, like an extra privacy shield. 43 00:01:35,240 --> 00:01:38,540 So even if data syncs somewhere, only you can read it. 44 00:01:38,540 --> 00:01:41,320 Which, you know, it does raise a question for you listening. 45 00:01:41,320 --> 00:01:44,440 How much does that level of control over your financial data 46 00:01:44,440 --> 00:01:47,320 actually matter to you compared to maybe services 47 00:01:47,320 --> 00:01:49,800 where it's all just out there in their cloud? 48 00:01:49,800 --> 00:01:53,200 It definitely points to a philosophy of user control 49 00:01:53,200 --> 00:01:54,760 over their own information. 50 00:01:54,760 --> 00:01:56,200 Sovereignty, you might say. 51 00:01:56,200 --> 00:01:57,680 So, okay, control is one thing, 52 00:01:57,680 --> 00:02:00,600 but how does it actually help manage the money itself? 53 00:02:00,600 --> 00:02:03,400 The sources bring up this core concept pretty quickly, 54 00:02:03,400 --> 00:02:05,100 the well-proven and much-loved 55 00:02:05,100 --> 00:02:07,000 envelope budgeting methodology. 56 00:02:07,000 --> 00:02:09,920 Right, and why they say it's powerful is interesting. 57 00:02:09,920 --> 00:02:12,080 It's all based on your actual income, 58 00:02:12,080 --> 00:02:14,640 the money you genuinely have right now. 59 00:02:14,640 --> 00:02:17,160 And this method, according to the sources, 60 00:02:17,160 --> 00:02:20,240 it kind of forces you to face your real spending 61 00:02:20,240 --> 00:02:22,480 because it's super clear how much you're actually saving. 62 00:02:22,480 --> 00:02:25,040 Because you can only budget cash you physically have 63 00:02:25,040 --> 00:02:27,840 or expect like right away, keeps it grounded. 64 00:02:27,840 --> 00:02:30,640 Exactly, no budgeting hypothetical future money. 65 00:02:30,640 --> 00:02:32,480 It's about the here and now. 66 00:02:32,480 --> 00:02:35,040 And they connect this directly to saving money, don't they? 67 00:02:35,040 --> 00:02:35,880 They do. 68 00:02:35,880 --> 00:02:39,200 The material claims it helps save hundreds of dollars 69 00:02:39,200 --> 00:02:42,640 a year, at least, by tracking your spending. 70 00:02:42,640 --> 00:02:45,240 So the idea isn't just tracking, 71 00:02:45,240 --> 00:02:48,480 it's this specific method of tracking an allocation 72 00:02:48,480 --> 00:02:50,520 that drives the savings, according to them. 73 00:02:50,520 --> 00:02:52,040 Because it forces that clarity 74 00:02:52,040 --> 00:02:54,000 on where every single dollar is assigned. 75 00:02:54,000 --> 00:02:54,840 Precisely. 76 00:02:54,840 --> 00:02:55,660 Less about guessing, 77 00:02:55,660 --> 00:02:58,040 more about actively directing the funds you possess. 78 00:02:58,040 --> 00:02:59,800 Okay, now here's something that sounds really appealing, 79 00:02:59,800 --> 00:03:03,640 especially if finance apps sometimes feel a bit clunky. 80 00:03:03,640 --> 00:03:05,080 Usability and control. 81 00:03:05,080 --> 00:03:06,080 Ah, yes. 82 00:03:06,080 --> 00:03:09,120 The sources say it's meticulously designed for speed. 83 00:03:09,120 --> 00:03:12,020 They talk about a beautifully designed interface 84 00:03:12,020 --> 00:03:15,540 that tries to just get out of your way, 85 00:03:15,540 --> 00:03:17,080 let you do what you need to do fast. 86 00:03:17,080 --> 00:03:19,760 Speed is good, but what about that control aspect? 87 00:03:19,760 --> 00:03:20,920 Well, while it's fast, 88 00:03:20,920 --> 00:03:25,200 the philosophy they emphasize is you are in control. 89 00:03:25,200 --> 00:03:27,360 It seems the app is built to help you learn 90 00:03:27,360 --> 00:03:29,760 from managing your finances actively, 91 00:03:29,760 --> 00:03:31,520 not just automate everything for you. 92 00:03:31,520 --> 00:03:34,440 So it's a tool for you, not a robot managing for you. 93 00:03:34,440 --> 00:03:36,840 That seems to be the distinction the sources are making, yeah. 94 00:03:36,840 --> 00:03:40,600 A contrast to maybe fully automated approaches. 95 00:03:40,600 --> 00:03:43,640 And they highlight speed specifically for handling transactions. 96 00:03:43,640 --> 00:03:44,640 Mm-hmm. 97 00:03:44,640 --> 00:03:47,560 They call it the fastest way to manage transactions. 98 00:03:47,560 --> 00:03:50,040 Optimized for quick categorization. 99 00:03:50,040 --> 00:03:51,920 And they mention it handles tricky stuff easily, 100 00:03:51,920 --> 00:03:53,240 like split transactions. 101 00:03:53,240 --> 00:03:56,560 Yeah, like when one grocery run covers food and household stuff. 102 00:03:56,560 --> 00:03:57,560 Exactly. 103 00:03:57,560 --> 00:04:00,400 Or handling transfers between your accounts smoothly, 104 00:04:00,400 --> 00:04:01,480 all in the same flow. 105 00:04:01,480 --> 00:04:04,160 You can sort of imagine how much quicker managing your spending 106 00:04:04,160 --> 00:04:07,240 could feel if the tool itself wasn't a bottleneck. 107 00:04:07,240 --> 00:04:10,240 It suggests a design focused on user efficiency, 108 00:04:10,240 --> 00:04:11,680 keeping you aware of money movement. 109 00:04:11,680 --> 00:04:13,680 Okay, so the method makes sense. 110 00:04:13,680 --> 00:04:15,840 The interface aims for speed. 111 00:04:15,840 --> 00:04:18,640 How do you get your actual financial data in there to start? 112 00:04:18,640 --> 00:04:19,640 Right, the practicalities. 113 00:04:19,640 --> 00:04:20,320 Yeah. 114 00:04:20,320 --> 00:04:23,240 The sources say the goal is everything in one place. 115 00:04:23,240 --> 00:04:25,600 So you had all your accounts, bank accounts, credit cards 116 00:04:25,600 --> 00:04:26,960 to track your overall net worth. 117 00:04:26,960 --> 00:04:29,080 And getting the transaction data in. 118 00:04:29,080 --> 00:04:30,440 A couple of ways mentioned. 119 00:04:30,440 --> 00:04:32,520 Importing standard files is one they list. 120 00:04:32,520 --> 00:04:39,120 QIF, OFX, QFX, CMT.053, and CSV. 121 00:04:39,120 --> 00:04:41,600 Those sound like the download formats banks often provide. 122 00:04:41,600 --> 00:04:43,480 Pretty much, standard stuff. 123 00:04:43,480 --> 00:04:45,640 But they also mention more automated options. 124 00:04:45,640 --> 00:04:47,680 There's built-in support for bank syncing 125 00:04:47,680 --> 00:04:49,440 via specific services. 126 00:04:49,440 --> 00:04:51,600 Go cardless for Europe and the UK. 127 00:04:51,600 --> 00:04:54,320 And simple F for the US and Canada. 128 00:04:54,320 --> 00:04:55,960 OK, so options there. 129 00:04:55,960 --> 00:05:00,800 And what if you mess up, enter a wrong number or category? 130 00:05:00,800 --> 00:05:01,680 Good point. 131 00:05:01,680 --> 00:05:04,200 The sources highlight an undo and reduce system. 132 00:05:04,200 --> 00:05:07,320 They explicitly say, never worry about making mistakes, 133 00:05:07,320 --> 00:05:09,160 because you can just undo changes easily. 134 00:05:09,160 --> 00:05:11,800 That actually sounds like a big relief, a safety net. 135 00:05:11,800 --> 00:05:13,340 Definitely important for confidence 136 00:05:13,340 --> 00:05:14,960 when you're dealing with financial data. 137 00:05:14,960 --> 00:05:18,700 So once you've got your data in, you start seeing the picture. 138 00:05:18,700 --> 00:05:20,160 What about reports? 139 00:05:20,160 --> 00:05:22,480 Ah, the reports. 140 00:05:22,480 --> 00:05:24,580 The sources seem pretty enthusiastic. 141 00:05:24,580 --> 00:05:27,280 There's a quote, oh my, the reports. 142 00:05:27,280 --> 00:05:27,960 Huh. 143 00:05:27,960 --> 00:05:29,360 OK, so what kind of reports? 144 00:05:29,360 --> 00:05:33,560 By default, they say it includes intuitive ones like net worth, 145 00:05:33,560 --> 00:05:35,800 assets minus debts, and cash flow. 146 00:05:35,800 --> 00:05:39,480 But interestingly, they also mention a powerful custom report 147 00:05:39,480 --> 00:05:40,280 engine. 148 00:05:40,280 --> 00:05:42,160 Meaning you can build your own. 149 00:05:42,160 --> 00:05:43,060 Seems like it. 150 00:05:43,060 --> 00:05:45,480 Build visualizations to answer the specific questions 151 00:05:45,480 --> 00:05:46,520 you have about your money. 152 00:05:46,520 --> 00:05:49,840 OK, this sounds powerful, but maybe a bit daunting 153 00:05:49,840 --> 00:05:51,360 for someone totally new. 154 00:05:51,360 --> 00:05:53,080 How do you actually get started? 155 00:05:53,080 --> 00:05:55,000 They address that directly in the material, 156 00:05:55,000 --> 00:05:56,440 focusing on beginners. 157 00:05:56,440 --> 00:05:58,720 They list installation options, but explicitly 158 00:05:58,720 --> 00:06:00,840 recommend something called one-click deployment 159 00:06:00,840 --> 00:06:01,800 via Peek-A-Pod. 160 00:06:01,800 --> 00:06:02,800 Peek-A-Pod. 161 00:06:02,800 --> 00:06:04,600 Yeah, they position it as the easiest route 162 00:06:04,600 --> 00:06:06,400 for non-technical users. 163 00:06:06,400 --> 00:06:09,360 And they even give a rough cost, around $1.40 a month. 164 00:06:09,360 --> 00:06:10,080 Huh. 165 00:06:10,080 --> 00:06:11,780 So a low barrier to entry there. 166 00:06:11,780 --> 00:06:13,040 Are there other ways? 167 00:06:13,040 --> 00:06:13,720 Oh, yeah. 168 00:06:13,720 --> 00:06:15,560 For those more comfortable, they list options 169 00:06:15,560 --> 00:06:19,800 like fly.io using Docker, or just downloading 170 00:06:19,800 --> 00:06:22,800 local apps for your computer, Windows, Mac, Linux. 171 00:06:22,800 --> 00:06:25,480 So different paths, depending on your technical confidence. 172 00:06:25,480 --> 00:06:27,320 And what if you're not just new to this app, 173 00:06:27,320 --> 00:06:30,440 but new to budgeting entirely, or switching 174 00:06:30,440 --> 00:06:31,640 from something else? 175 00:06:31,640 --> 00:06:32,960 Good question. 176 00:06:32,960 --> 00:06:35,600 The sources point to community resources for that. 177 00:06:35,600 --> 00:06:38,780 They mention a starting fresh guide for total beginners, 178 00:06:38,780 --> 00:06:41,480 and a migration guide for people switching. 179 00:06:41,480 --> 00:06:44,520 They even specifically note importers for YNAB, 180 00:06:44,520 --> 00:06:47,440 both the older YNAB 4 and the newer online version. 181 00:06:47,440 --> 00:06:49,520 That community aspect sounds important. 182 00:06:49,520 --> 00:06:50,560 It seems central. 183 00:06:50,560 --> 00:06:52,760 The sources state it's community-driven, 184 00:06:52,760 --> 00:06:56,240 and 100% free and open source, with an MIT license. 185 00:06:56,240 --> 00:06:58,280 Meaning the code is open, and people contribute. 186 00:06:58,280 --> 00:07:00,360 Exactly, transparency and community improvement. 187 00:07:00,360 --> 00:07:04,120 They back this up with GitHub stats, like over 19,000 stars, 188 00:07:04,120 --> 00:07:07,960 315-plus contributors, shows it's alive and kicking. 189 00:07:07,960 --> 00:07:09,840 That feels like a strong selling point, 190 00:07:09,840 --> 00:07:13,060 especially tied back to that privacy and control theme. 191 00:07:13,060 --> 00:07:14,860 And they briefly mention other features, too. 192 00:07:14,860 --> 00:07:17,000 Syncing across devices if you host it yourself, 193 00:07:17,000 --> 00:07:20,000 dark mode, even an API for developers. 194 00:07:20,000 --> 00:07:23,480 Though they flag that API bit as more for technical users. 195 00:07:23,480 --> 00:07:24,000 Right. 196 00:07:24,000 --> 00:07:26,400 So thinking about all this, it brings up 197 00:07:26,400 --> 00:07:29,440 an interesting point based on what the sources present. 198 00:07:29,440 --> 00:07:30,040 Which is? 199 00:07:30,040 --> 00:07:31,600 Well, given the choice these sources 200 00:07:31,600 --> 00:07:34,920 seem to outline between, say, fully automated, maybe 201 00:07:34,920 --> 00:07:38,040 black box finance tools, and one, 202 00:07:38,040 --> 00:07:42,960 this emphasizing user control, transparency, active management. 203 00:07:42,960 --> 00:07:46,160 How does that choice potentially shape your own trust 204 00:07:46,160 --> 00:07:47,920 and understanding of your money? 205 00:07:47,920 --> 00:07:49,320 That's a core tension, isn't it? 206 00:07:49,320 --> 00:07:51,640 Convenience versus direct control and understanding. 207 00:07:51,640 --> 00:07:52,360 Exactly. 208 00:07:52,360 --> 00:07:55,360 So bringing it back to you, listening. 209 00:07:55,360 --> 00:07:57,000 What this deep dive into the sources 210 00:07:57,000 --> 00:07:59,560 suggests is that actual budget positions itself 211 00:07:59,560 --> 00:08:02,000 as this fast, private tool putting you in the driver's 212 00:08:02,000 --> 00:08:03,760 seat with envelope budgeting. 213 00:08:03,760 --> 00:08:06,700 The claim is it helps you really see your spending potentially 214 00:08:06,700 --> 00:08:09,600 save money, and offers accessible ways to start, 215 00:08:09,600 --> 00:08:11,440 backed by this open community. 216 00:08:11,440 --> 00:08:13,760 You can almost imagine that feeling of clarity, right? 217 00:08:13,760 --> 00:08:15,520 Knowing exactly where the money's going. 218 00:08:15,520 --> 00:08:17,560 It's framed as empowering the user, 219 00:08:17,560 --> 00:08:20,120 giving them agency in their financial life. 220 00:08:20,120 --> 00:08:22,720 So to wrap up our look at the source material, 221 00:08:22,720 --> 00:08:25,840 actual budget is presented as fast, local first, 222 00:08:25,840 --> 00:08:28,680 privacy centric, using envelope budgeting 223 00:08:28,680 --> 00:08:30,120 to put you in control. 224 00:08:30,120 --> 00:08:31,640 The aim, according to the sources, 225 00:08:31,640 --> 00:08:34,840 is clarity, savings, and an accessible start, 226 00:08:34,840 --> 00:08:36,160 all community supported. 227 00:08:36,160 --> 00:08:38,080 And the underlying theme running through it all 228 00:08:38,080 --> 00:08:40,400 seems to be the value of agency, of understanding 229 00:08:40,400 --> 00:08:42,520 your own finances and data. 230 00:08:42,520 --> 00:08:45,120 Which leaves us with a final thought to chew on. 231 00:08:45,120 --> 00:08:47,440 In a world where so many financial tools push 232 00:08:47,440 --> 00:08:51,160 towards automation, maybe even taking control away from you, 233 00:08:51,160 --> 00:08:53,520 what does it really mean to consciously take back 234 00:08:53,520 --> 00:08:54,600 those reins? 235 00:08:54,600 --> 00:08:57,600 To truly understand where your money goes dollar by dollar, 236 00:08:57,600 --> 00:08:59,040 something to think about. 237 00:08:59,040 --> 00:09:01,560 And one last big thank you to our supporter, Safe Server, 238 00:09:01,560 --> 00:09:03,280 for helping make this deep dive happen. 239 00:09:03,280 --> 00:09:06,240 They handle hosting and support digital transformation. 240 00:09:06,240 --> 00:09:09,080 Check them out at www.safeserver.de.