Best Way to Record Spending??

abovemymeans

Hi,
Just starting out on this mammoth journey and grateful it's with the aid of you guys!
I'm trying to sort out my SOA and i've found a couple of hundred quid each month in cash that I can't account for.
The advice i've read says record everything you spend which makes sense.
I know this sounds silly but whats the best method everyone's found of doing this effectively.
I don't carry a diary and don't have a handbag (being a gent) which leaves my memory which obviously can't be trusted.
Cheers
Means.

immoral_angeluk

Keep your receipts for EVERYTHING. Put them all into a jiffy bag or something and tot them up at the end of the day at home. It's amazing where those pennies go!

emzig123

Hiya, I am a woman so carry a notebook in my handbag which I write everything in, the other way of doing it is to keep ALL reciepts and then update a notebook or your diary when you get home. Depending on how much you write in your diary anyway, you could use that instead. I just tend to record the date,amount and where i spent/what I bought.

Good luck!

newlywed

Do you had a mobile phone or a PDA that you could enter diary notes into so as to keep a track of it all?

I tried this first but personally prefer pen and paper approach but it might work for you?

abovemymeans

Yep those tend to end up in the back pocket or nearest bin if i'm being honest.

Seaxwyn

Hi means

I tried keeping a spending diary in a notebook several times and it didn't work for me. The notebook would get lost in the clutter on my desk so I'd leave it a few days then forgot what I'd spent.

Now I'm trying again with a spreadsheet on my computer. So far, that's working better. It is not such a problem opening it each day and adding in what I've spent while I can still remember it. The spreadsheet also adds up weekly totals, and compares incomings with outgoings etc, so it's really informative. It's a fab spreadsheet which one of the posters here sent me, I'm sure he'd send it to you if you think this would help.

abovemymeans

wow - this is service!
I tried my phone but didn't really like it. I think I'll start with trying to do the receipts each day and see how I go.
Who knows a bag might suit me!
Thanks

newlywed

How about getting a small note pad and just putting one piece of it fresh into your wallet every morning to write your notes on then when you get home you can enter into the PC/big notebook etc etc?

abovemymeans

Cheers seaxwyn
that would be great, whats the best way to get hold of it?

emzig123

Hi again, I do the same as Seaxwyn (sp) and I write it all down and then enter it into a spreadsheet each ay when I get home. Down the side I have different things ie Food shopping, lunches and snacks, magazines, stationary for Uni, clothes etc and I categorise each thing when I record it. I then have a column for each week so I can see how my spending is changing. I also have a target for each thing for each week so I can see where I am overspending. I've been doing it since september and I find it so useful to know where every penny goes. It does take a while to tweak the targets and things and you will find it disciplines you so much more easily than just willpower alone.

DontDoDebtKids

I keep a paper spending diary that I make from two sheets of A4 which fits in my wallet.

Have a look on the first page of my debt diary (see link at bottom of this post) for instructions on how to make one...