How do you keep track of your spending

mandySaver12 · 19 August 2018 at 5:36PM

I'm not bad at Excel so I'm currently building an excel spreadsheet to collate all the different bank accounts (4 in total) and credit cards (3 in total) that I have but was wondering what other people are using.

I know some banks have their own apps which categories the accounts you have with them but do they collate across banks and credit cards etc?

MoneySavingExpert.com Insert:

There are a few researched guides on MSE that might help you too..

Budget Planner

How to Stop Spending

App-based banking

ValiantSon · 19 August 2018 at 5:42PM

I use a spreadsheet.

The banking apps are, in my view, crude. They only group things by retailer type, rather than category, so if you spend £100 in Tesco then they will tell you that you have spent £100 on "groceries", but you may have spent £30 on alcohol, £30 on electricals, £20 on cosmetics or toiletries, and £20 on food. I don't consider that lack of discrimination to be particularly useful.

Mr.Saver · 19 August 2018 at 5:59PM

I use a free app on my phone.

I only write down the date, amount and purpose. I don't care which card or bank account is used, because I will need to repay the credit cards eventually.

ceredigion · 19 August 2018 at 6:04PM

I follow her down the street

MovingForwards · 19 August 2018 at 6:20PM

I have a yearly running total so I know in advance what goes where, figures get amended as bills go up.

Income, bills (itemised) and savings (collective) on one excel sheet, gives me the outstanding amount left for the month.

I then draw out £50pw cash for food/spends.

Savings are broken down on another (tab) excel spreadsheet. They get updated a few times a month due to interest and adding a little extra towards payday (payday week).

Then it all starts again the following month.

End of December I open up an account to lock money away which has built up over the 12 months, keeping an emergency float. January I kick start my savings off with a new tab on excel.

Alexland · 19 August 2018 at 8:09PM

I keep track of account balances, browse my transaction history but I don't 'keep track of the spending'. As long as it's a transaction I recognise that's fine. There's no point worrying about how much you spend just judge each transaction on if it's really necessary and move on. Far better to keep track of your savings and investments.

Alex

SG27 · 19 August 2018 at 8:34PM

I use a spreadsheet to track savings and bill payments. I dont track irregular spending, im just concious of what I spend. Most of it I use cash which is easier to see what you are spending/ have spent.

boliston · 19 August 2018 at 8:49PM

i have got an old copy of quickbooks which is ideal - i have been using it since 2004 and used excel before that but i have several credit cards, savings accounts and current accounts which gets a bit messy in excel. You can often find old versions of quickbooks on ebay for peanuts and i actually prefer it to the later versions which seem quite bloated with too many 'features'

Zero_Sum · 19 August 2018 at 9:36PM

MS Money..

Mnd · 19 August 2018 at 10:07PM

I use a self built excel sheet for keeping track of our finances, I don't track spending..we went to cinema today, had a pint...that's gone...the savings total will reflect this but I don't worry what is was spent on. We live within our means and don't waste money (unless you count the Christopher Robin film as a waste of money, don't tell the wife! )

molerat · 19 August 2018 at 10:47PM

I use a self made excel spreadsheet to manage one "3 pot" current account (spending, budget, savings), 2 savings current accounts and 6 credit cards. As above I don't really keep tabs on what it is spent on but make sure the bottom line of the spends account stays positive.

How do you keep track of your spending

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