Spending diary

save-a-lot

Hi

I have just started to keep a spending diary to track ALL my expenditure, only just started this to see if I can work out where it all disapears to.

Anyone else doing this???

Phil

catznine

Yes I've done this and it is quite scary! But it is very effective and helps you to recognise where all the money goes so that you can make changes. Well done this is a very brave thing to do.

taplady

Hi ! yes I have kept a spending diary for a while and as said it is a very good way to see just where your cash goes to.How all the little amounts here and there mount up and it makes it easier to see ways you could cut back.

Queenie

Yes, I do this too - it helps me because I like to keep track of my Pin Money Savings, which can't always be "real" pennies saved so I like to keep a track of what I've saved by wise buying too.

My boys also help me keep a track - which is good for their mental maths and future budgeting skills too (I HOPE!! LOL )

Once you know where it's all being spent, then you can work out ways to pinch the pennies and squeeze the pounds!

Have you found any "shockers" yet on your list?
When we first began, our "shocker" was take-aways/convenience products :eek: (Mainly bought by OH at/for work and his shifts).

madfrenchgirl

how do you get your OH to do the same? mine thinks he does not need to as we are already spending so little.

monkmorency

Yes, I've done this on a spreadsheet for years, and for the last 2/3 years I've done it jointly for my OH as well.

It is scary to see how easily expenses stack up over the course of a month, but it's the only way to work out how you can budget.

I have columns for expenditure like food, travel, fixed costs (mortgage, etc), and then also columns for earnings like salary, eBay, interest and cashback to inspire me to earn more! I can then check whether we have net incomings or outgoings over the month (and it had better be incomings!).

The only thing I don't track in detail is cash expenditure, which ends up being a fair amount where my OH is concerned :eek: , but the chances of me getting receipts from him are nil!

monkmorency

madfrenchgirl wrote:

how do you get your OH to do the same? mine thinks he does not need to as we are already spending so little.

My OH would never do this of his own accord. I have all his bank details, and analyse what's been spent, then tell him off!! Poor man

Seriously though, I do all the budgeting for both of us, as he doesn't have the time or the inclination. It works well for us anyway.

[Deleted User]

save-a-lot wrote:

Hi

I have just started to keep a spending diary to track ALL my expenditure, only just started this to see if I can work out where it all disapears to.

Anyone else doing this???

Phil

Hi ,
I have kept a running total of my daily exe's since I left school in 1959. Over the years it has become quite an ingrained habit. Whilst sorting through some old boxes of junk to other day I came across one from 1968 when my children were small.
My housekeeping for two adults and two small children was around £7.00 per week.My shopping was done almost daily as I never owen a freezer then or a washing machine. I had to walk everywhere as I didn't own a car then either
A leg of lamb was roasted on Sunday, and cold with pickle on Monday and then every bit was carefully cut and carved off it on Tuesday to make a curry with. The joint cost 15/- abround 75p in todays money. half a dozen eggs were 1/9 (9p) 2lb sugar 1/6
(7 1/2p) I spent about £5.00 on food and the rest was for the milkman who delivered in those days and my husbands bus fare to work.He worked it out that if he walked two stops further he could save enough over the week to buy me some flowers or a bar of chocolate at the week-end. We didn't have central heating only one gas fire in the sitting room and our idea of a treat was a day out to the Surrey countryside on a greenline bus with the children. We had very little money ,but it didn't bother us as most of our friends were in the same boat.
Christmas 1968 we had a chicken for Christmas dinner and a bottle of Mateus Rose to wash it down with. No one had credit cards, so debt wasn't a big problem. Our rent on our flat was 4 guineas a week £4.20p and that was our biggest expense My husband supported us all on a take-home pay of around £18.00 per week. It was facinating to see how, even in those days I was a frugal lady.
I still to this day keep a close eye on what I spend although now there is only me to keep. I am lucky that I owe no one money and my house is paid for.I know it must be harder for young families today than it was then as there is more pressure to buy things. But I reccomend writing everything down as it is a great way to see where all those elusive bits of money disappear to.

Alfietinker

Hi - I started doing this last month when we worked out an action plan to pay of credit cards, and also to see exactly what we do spend so we can cut down in the future. It's so easy to forget when you go and buy a paper/run out of milk or food and pop to the shops and it all adds up.

It's really kept me on track and for the first time in ages I wasn't overdrawn at the bank. Didn't have much left but still not overdrawn :t It's especially kept me focussed on budgeting for Christmas.

With our joint spendings, we set a rough budget for food each week but don't note it all down - going by bank statements at the end of the month Then this week (end of month) we'll sit down and set up a spreadsheet of exactly what we did spend so we can be more realistic next month. (if any of that makes sense )

Good luck!

Sweet_Pea_2

Hi,
I started to do this recently too. I have a little notebook which I carry around with me so I can write things down immediately so I dont forget. I have a page for a week. I put the weekly budget for each thing like shopping in it, then I can see if Im about to go over budget and it inspires me to cut back a little. I found it really helped me to stay focussed and you really think more about spending money if you see where its going written down in black and white. I like the idea of writing things like ebay sales in though as this will keep me motivated to sell more junk!
I do our budget and balance the books (so to speak) as OH cant be bothered. So I give him a small amount of pocket money to spend and dont keep a track of what he spends it on. If he goes shopping for anything, (which he does very rarely as he hates shopping) he always asks me how to pay before he goes! (See - I have him well trained!) But he has no problems with doing this, he would have more problems if the finances were left to him to do, so he prefers this method.
I had stopped filling in my little book 'though, so thanks for this thread as it's inspired me to start again from next month.

Yorkielass

I did this while I was doing my degree - did it as a seperate 'account' in Money.

Found it really helpful to see where the cash was all going - as then I spent mostly cash (snacks, pubs, cinema, small purchases like stationary etc).

Don't do it at the moment as last year whilst on teaching practices etc I spent very little cash (plenty on my debit card and I keep a track of that in Money anyway) but have started spending most recently so think I might need to start again.