Money just dissapears....

bigmaz

Gra76 wrote: »

This is exactly what I do for our budgeting and it works wonders. It's amazing seeing how much we spend on 'junk' every month. I've managed to cut it down significantly since doing the spreadsheet. It's really highlighted where we're spending and that makes it easier to put things into perspective.

What you think you're spending and what you're actually spending are two different things. When it's down in front of you in black and white it can be surprising to see where it all goes.

I have started to do this, and your right, it is amazing the junk it is spent on. Its actually quite interesting when you start breaking down the spreadsheet. I copy straight from my online bank statement every couple of days and then splitting it into categories. Scary stuff, from 29th Septemebr (when I got paid) £160 has been ATM transactions alone..... £107 groceries, £142 on going out for a few meals and then £103 for misc items such as petrol and a few odds and ends. Crazy!!! I can see right away where I am going to start cutting back on :P

Errata

Spend a month buying what you NEED not what you WANT. Write down every single thing you buy during that month. Look at it at the end and frighten yourself to death.
With luck the shock will cure you of being a spendthrift.

ska_lover

I'm probably the OTHER way. I save eveything and have the cheapest of everything (saving for house deposit) it is boring. I think I need a treat.

suzeesu2000

Keep the receipts for EVERYTHING, list every single penny you spend and what you spend it on. I would suggest you get something soft for the floor as you will collapse in a heap when you see what you are REALLY spending on.

Then set a budget, set up a proper savings plan with the money being deducted from your account immediately it goes in, be ruthless and cull the waste and you will probably manage to save enough to pay for a First class holiday next year or even, long term, an extension to your property or an extra lump sum off your mortgage.

Good luck