Spending Diaries - What should I include?

gilly1964

I started one half heartedly just before the end of last year but could not see the point as it was coming up to Christmas and we all know we spend extra :eek:

I started again Monday this week and the OH is also on side having seen how my £2 and 20p collections have grown.

Monday £33.00 Badminton Club fees for the next 3 months for DS
£16.00 Takeaway - signed off sick for the week and not in the mood to cook as feeling sorry for myself :eek:

Tuesday £13.30 Prescription (2 items)
£3.49 Hair gel for OH and DS
£2.28 Bread/Milk
£0.35 Newspaper (saving vouchers for Sun Holidays)
£4.00 Lottery

Wednesday £20.28 Groceries Lidl
£17.50 Groceries Iceland
£25.88 Groceries Tesco
£0.35 Newspaper
£7.70 Postage for a parcel to BIL
£59.45 Vet - Dog food and medication for the month

The scary thing is that the above comes to £200.58 and I will probably have to shop for more bread, milk, fruit and veg before the week is out. And petrol. And the garden fence has fallen down today so need to get a price to replace it - but as it needed replacing a year ago I suppose it has done quite well.;)

More scary is that a week ago I would have spent the above without a second thought. I would not have gone to Lidl or Iceland but just done the one shop in Tesco for probably a heck of a lot more than I spent today.

Please tell me, am I going down the right lines or should I be inlcuding DDs that come straight from the Bank Account?

Thanks in advance
Gilly

OberonSH

My spending diary just counts the cash I spend - the £10 here and there you get from the machine, as my DD's & regular payments are covered in my budget

Imelda

Hi Gilly,

I have two separate accounts, I put enough in my bills account on pay day to pay all DDs and food. I keep track of how much I spend on my mobile and food so I don't go over budget.

I keep a full spending diary for my personal account, I don't generally use it for debit card transactions, but every time I withdraw cash I make a note of what is has been spent on.

I agree Christmas was a tricky time for this and I got out of the habit of doing it, back on the wagon now though....

Seaxwyn

HI Gilly

You need to decide what you want to learn from your spending diary.

I started a spending diary that logs EVERYTHING, including the direct debits. I'd tried to keep 'cash only' spendign diaries a couple of times in the past and didn't find them that instructive and couldn't find the motivation to keep them up.

Now I'm logging everything that goes out of the household, whether DD, cash or on a card, and I'm entering it all in a spreadsheet which totals as I go, and subtracts from the income figure which I also enter. I am finding it very helpful and very sobering.

I wasn't really capable of setting a budget before as I didn't have any real idea what we spent on things like food or pocket money and treats for the children.

tryhard_2

hi gilly
the idea of spending diary is to see where your money goes and how you can stop impulse buying/frivolous expenses. for me it is a lot easier to have different spreadsheets
1. monthly expenses that includes DD/cheques/extra bills/credit card etc
2. spreadsheet for expenses just like you have mentioned before - i also include parking/days out etc in it
as the above post says you will have to find out what works for you