How do you keep track of your Money ?

givememoney

I have a friend who was widowed back in 2001. She was relatively young at the time, 48. Her husband was actually a bank manager so did all the finances and she didn't have a clue.

Anyway fast forward and two years ago she sold her house and moved into a brand new one near her daughter and has coped fantastically dealing with move and all the finances herself (with support from her family of course).

She has a `boyfriend`, made friends in the new area where she lives and goes out a lot with them. Got a grip on all her spending and lives a nice life (albeit without the husband she loved) so I am just saying hopefully `light at the end of the tunnel` will come to you eventually.

bluebag

Hope you are doing OK, it's a steep leaning curve having to do everything on your own. My mum was widowed a
couple of years ago and my dad had done everything for her, she didn't even know what a direct debit was, bless her.

I just take all the direct debits out as if they had all been paid, chuck a chunk into savings. I spend a set amount online on my shopping each week and draw out a set amount of cash each week and that's it.

When doing the budget I automatically discount £50 of salary as if it hadn't been paid in the first place, this gives me a buffer if my highfalootin' accounting system don't work as well as it ought to.

LilyMae_2

Thank you for all your kind posts and all your suggestions, I have during the last 3 months sold the big family car and bought a smaller one so both myself DD can drive it and much more fuel efficient.

Got to grips with car insurance( DH's job) mot's and tax. Changed all the bills to my name ( something my mother never did and caused a nightmare sorting out her affairs when she moved). Started to use on-line banking, and sorted out a new rate for the mortgage which I am now paying due to DH cancelling the insurance when he was very ill without telling me:eek:. I have dealt with the money but in a limited way and the last three months have been a little scary and I miss having someone to talk to about it. But I'm pleased with my small achievements, I know its going to be tough but at least I can keep the house until I'm ready to move, and I have no other debts thanks to this board.

Thankyou:A

OrkneyStar

I used to use am excel spreadsheet, but actually now use a little note book for all the a/c's and in-comings/out-goings. I do keep one basic excel sheet for working out the numbers at the start of the month (it can vary as OH sometimes does a little over-time). I also use online banking, work in cash for food, diesel, our 'treats', all direct debits accounted for at start of our month and effectively gone to me (even if they don't come out until later on!), all other things such as Christmas, holidays etc, get put into a separate account or divied up within an account and tally's kept. Credit card used for larger purchases or purchases where I only have a rough idea of total cost (though do have a vague budget).
Sorry for your loss, sounds like you are doing well, small steps at a time are key x

givememoney

LilyMae wrote: »

but at least I can keep the house until I'm ready to move, and I have no other debts thanks to this board.

Thankyou:A

Getting back to my friend, her initial reaction was to move out the home she shared with her husband. We managed to persuade her to wait until she felt more settled. She did this and was glad that she didn't make any hasty decisions.

When she did come to move 7 years had passed and she was much more confident in her financial dealings.

toottifrootti

tracey12 wrote: »

Hi LilyMae

Sorry for your loss.

I use www.myspendingdiary.com I find it useful and easy to use. You can do reports on it on your monthly spends and it is easy to set up headings so it is easy to see where your money is going each month.

When I am out and about I keep all receipts and transfer these onto the spending diary and also use online banking so I enter all direct debits coming out of the bank.

HTH

Tracey

Hi LilyMae
just wanted to add my best wishes to you and thank you as well I have been wondering about how others looked after their money. so i was delighted to see your thread and the links.

Tracey your link doesnt work - it says it doesn't exist??? any other ideas?

I am old fashioned in that i like to see it down on paper so may have to incorporate some of your ideas

Thanks to everyone for being so helpful

tootsx


eta Found it Tracey! http://www.spendingdiary.com/main.php - it does seem fairly straightforward. Thanks

vasseur

I wish I was organised enough to use a spread sheet

For at least the last 15 years I have used a Si1vine cash book. On payday I write everything that's coming in and then list all the direct debits, transfers out, card payments, cash withdrawals and work out what my 'true' balance is. It's handy because it fits in my handbag and as soon as I soend any money I write it down.

I use online banking and as cheques or payments hit my bank account I tick them off. I double check that the book is correct by subtracting any payments not yet presented from the bank balance - it should agree to the balance my book says.

As a consequence the amount that's in my bank account is never what I actually have but at least my little cash book is accurate

LilyMae sorry for your loss.