How do you actually do it? Write in a notebook? Use an app? Download figures from internet banking? Keep receipts? Do you use a spreadsheet?
I really need to do this but I thought I would pick the collective bubhub brain to find a low maintenance way ha ha.
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14-08-2012 10:08 #1
Q for those that track all your spending...
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14-08-2012 10:10 #2
My dad keeps receipts and puts them into a spreadsheet at the end of the week.
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14-08-2012 10:14 #3
We pay everything fortnightly, i write down everything that needs to be paid, it gets paid first above anything else, then im left with 'spare' money (depening on if there is any) it gets divided between dh and i and that money gets used on whatever, when it runs out thats it until the next fortnight.
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14-08-2012 10:20 #4
What I do:
I have an excel spreadsheet that is in month order. I have it set up as fortnightly and using formulas I put in what our fortnightly salary would be. EVERY single day I update what i spent that day. It does take discipline, but does not even take 5 minutes to do. I have a category to the left hand side of Loan, School/Preschool, Bill transfer, Takeaway, Presents, House Maintenance, Groceries, Fuel/Services/Tolls, Doctors/Medicines, Clothes/Shoes, Donations etc. You can add and take off each month. I do update this every day, so I know how much money we have left for the fortnight. We were going through ludicrous amounts of money prior to me doing this. I was shocked and disgusted when I first did this to see how much money we wasted. In my Bill transfer, what this means is I have another Internet Account (I do internet banking) that each fortnight I transfer money into that will cover our bills when they come in. How I worked this out was estimated our bills over the year. So Water, Gas, Electricity, Home Insurance, Car Insurance, health Insurance, Car Rego, Telephone/Internet, Mobile, Swimming, Dancing, Rates. I then divided this amount by 26 weeks and that's the amount I transfer to my Internet Account. When a bill comes in, I transfer back and it gets paid. It might take you a day to set everything up in regards to an account, setting up the excel spreadsheet for the year, but truly once it's set up, it takes not even 5 minutes a day. The key is though, you have to put absolutely everything down, no matter how small. I do have a template if you're interested, but not sure how I would get it to you..
Goodluck. We are now saving a lot more money now that I am actually aware of how our money is spent!
Last edited by 3InATub; 14-08-2012 at 10:22. Reason: Should've proof read
15-08-2012 09:29 #5
Thanks everyone, total common sense eh? keep receipts, pay the essentials first.
And 3inatub thanks for taking the time to write all that down! I would love a copy of your spreadsheet template, I could PM you my email if you like? You are probably so right, once you set it up its just quick to maintain from there. I like your idea of having a separate bills account too, working out a fortnightly amount etc.
Ok I have a plan, thanks everyone
15-08-2012 13:54 #6
No worries at all! Am just about to go out so I will email to you later tonight if that's ok?? If anyone else wants a copy just pm me your email. It is only a template I have made myself, but it works for me and will hopefully work for you!
Last edited by 3InATub; 15-08-2012 at 13:56.
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15-08-2012 13:59 #7has left the building
- Join Date
- Dec 2008
I used to do this. My way was to keep a little notepad where i put all receipts and wrote any purchase that didn't have a receipt - this info would then be transferred into a spreadsheet. It was pretty in-depth with lots of categories etc but once set up easy to maintain.
15-08-2012 15:16 #8
Re: Q for those that track all your spending...
3inatub thanks a mill, that would be great, no rush, I'm giving myself a couple of weeks to get this organised
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