Keeping track of spending

[sponge]

How do you all keep track of your spending -- eating out, groceries, bills, everything? write it down? Computer programs? Is there any website service that will do this (for free)?

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[YouDontKnowJack]

microsoft excel.


why do people make simple things seem so hard?

 

[Rogue Synapse]

In undergrad and grad school - in both cases I was not supported financially by parents - I didn't keep track of my spending other than looking at my account online every other day or so. If I was getting low, I would start acting like I had absolutely no money until my next paycheck came. I never did really learn to make an actual budget, but I never suffered a serious financial crisis, either. I guess that'll have to come sooner or later. In retrospect, I probably should have learned to keep better track of my money then, because this laissez-faire habit is really hard to break.

On a related note, I never developed study habits either... that FOR SURE will change within the next ten days.

 

[Bobblehead]

I highly recommend Microsoft Money if you really want to track your expenses. You can categorize things using their default categories and make up your own (i.e. interview expenses, etc.). The 2007 version reportedly has a budget feature that actually works. I don't have that version, however I can tell you that pretty much all of the prior versions had a useless budget function. However if you put everything in you can do some nice cash flow projections using their built-in cash flow screen.

At the very least start using a spreadsheet or even a text file and write down everything you spend. If you take $200 out of the ATM can you account for it all by the time you've spent it? If you can't maybe you should consider just using a debit card instead so you can figure out how you're spending it. On the other hand if the debit card makes it too easy for you to spend perhaps you should be using cash where it's a conscious decision to hand over money. Some people have a hard time equating running a card through a reader at the checkout to handing over dollar bills.

 

[fewchewrmd]

I just pay for everything with my credit card and download my statements at the end of the month. I hate receipts. Rent is by check but that is a fixed expense so I factor that in manually.

 

[fun8stuff]

How do you all keep track of your spending -- eating out, groceries, bills, everything? write it down? Computer programs? Is there any website service that will do this (for free)?

Quicken

 

[GwinnettPreMed]

How do you all keep track of your spending -- eating out, groceries, bills, everything? write it down? Computer programs? Is there any website service that will do this (for free)?

Excel is simple and many people already have it. I track my expenses as separate categories e.g. "healthy/unhealthy" food, "active/passive" entertainment, etc to encourage myself to spend more wisely.

 

[Frank Hardy]

Avoid taking out credit lines other than the one provided by the bank you have your checking account in. Know how much you have/will have, net, after taxes at the end of the year. Subtract rent and a high estimate of utilities. What you have left over is money available for food/clothing/gas. Do loans cover insurance? Books are a one time expense for the year (hopefully). I don't keep receipts or have a list of what I buy, but I know how much I am working with by keeping track of my balance online.

 

[Wallachia]

yodlee

 

[Thievery Corp.]

I would recommend Inutit's Quicken. I know it's not free but for ~20 bucks the basic version it is worth the investment. It is much easier to manage than a spreadsheet. My wife and I both input items on a daily basis. Plus, its functions are useful for looking at your budget, rather than spending time looking at spreadsheets. All IMHO.

 

[chocolate-e]

I used AceMoney Lite (free at download.com). Not perfect, but I found it to be less cumbersome than a spreadsheet.

Actually only kept track first semester, though ... once I was sure my budget was generally working, I just played it by ear and stopped worrying about details. Not sure if that was a good idea or not ...

 

[md mayhem]

my bank (wellsfargo) gives me a breakdown of my expenses. I can see my spending report online and they include a lot of categories like gas, groceries, education, travel, healthcare, entertainment.. just to name a few.