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View Poll Results: How Many Financial Transactions Do You Make Per Month?
<25 35 47.95%
<50 10 13.70%
<75 8 10.96%
<100 12 16.44%
>=100 8 10.96%
Voters: 73. You may not vote on this poll

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Old 03-30-2011, 04:51 PM   #21
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Originally Posted by aaronc879 View Post
That's a really bad sign. Every time you spend money, you make a note of how much you spent. It's not that hard.
Rather than tracking individual cash transactions, I use Quicken to track the amount of cash that I withdraw for personal use. Knowing the amount of cash that I use is more important to me rather than the number of cash transactions that I make.

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It Depends...
Old 03-30-2011, 05:07 PM   #22
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It Depends...

... some people might say there are only two transactions per month - income and expenses.

Me... I prefer to break my income into W2 paycheck (yes, I am still w*rking), dividends, etc. On the expenses side I list fed tax, SS, state tax, and a host of other expenses such as entertainment, groceries, meals out, gifts, etc. Even though I have not voted in the poll for this thread I suspect the number of transactions per month is very large.

In my mind credit card and ATM are not transactions. That may work for some but I want to know what I spent the money on - lunch, groceries, gasoline, travel, and all the other details. Yes, I could probably get by with fewer categories (transactions) but the detail helps me understand where my money goes.
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Old 03-30-2011, 05:17 PM   #23
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I have more cash transactions than debit card. I pay bills online. I just don't care to keep track of anything except to check my bank statement each month. I had 27 bank transactions in Feb. and I'll guess I had at least that many in cash although they are generally small.
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Old 03-30-2011, 05:28 PM   #24
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Right at 48 for the first three months of this year. We put everything on the credit card and have about 15 transactions a month out of the check book. That surprised me, I did not think it would be that many.
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Old 03-30-2011, 08:15 PM   #25
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Rather than tracking individual cash transactions, I use Quicken to track the amount of cash that I withdraw for personal use. Knowing the amount of cash that I use is more important to me rather than the number of cash transactions that I make.

Milkman
Well of course one would not be likely to track the number of transactions without tracking the amounts also. But we have beaten to death the question of how much money do you spend, and I thought it would be interesting to see the distribution of number of purchase transactions. And sure enough, it is! Huge differences from person to person.
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Old 03-30-2011, 08:22 PM   #26
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In my mind credit card and ATM are not transactions. That may work for some but I want to know what I spent the money on - lunch, groceries, gasoline, travel, and all the other details. Yes, I could probably get by with fewer categories (transactions) but the detail helps me understand where my money goes.
Categories are not transactions. I was only looking for purchase transactions, but in fact anything that will change the balance sheet is a transaction. Thus any purchase, any funds earned, any bill paid, anything that would change account balances on the assets or liabilities side of a balance sheet is a transaction. It really doesn't matter if you have different categories for Juicy Fruit gum and Dentyne gum, or if you classify both as miscellaneous, or food, or entertainment- everytime you buy any it is a transaction.

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Old 03-30-2011, 08:33 PM   #27
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Ha, being a newcomer here I hesitate to ask, but why would one want to log every single transaction they make?
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Old 03-30-2011, 08:47 PM   #28
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Ha, being a newcomer here I hesitate to ask, but why would one want to log every single transaction they make?
To know where you are and where the money is going.
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Old 03-30-2011, 09:06 PM   #29
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Well over a hundred a month between the two of us - we both work so twice daily taxi/bus fares, lunches, school fees, utilities, entertainment, salaries, etc etc etc and then there are the transactions from our investments.
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Old 03-30-2011, 09:08 PM   #30
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Fewer than 25; got rid of several debts and got the check writing down to 10/month and a couple of ATM withdrawals for spending money.
Just had to jump on this post as I thought check writing was a thing of the past. Lady in the grocery line the other day and was waiting for the total on the register. She had a lot of stuff. When the cashier is finished the lady starts writing the check. It took a while. I'm thinking, "lady you know the date, you know the store you are in, you certainly know your name". Why does it take so long to write a check? I haven't written a check in over a year. Debit/credit card is the only way to go. All direct deposits, I do all my banking on line and check the account every day. Don't carry a lot of cash with me, maybe $50. I think they to outlaw checks and pennies.
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Old 03-30-2011, 10:17 PM   #31
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Ha, being a newcomer here I hesitate to ask, but why would one want to log every single transaction they make?
Well, there is really no other way to definitively answer the question-"where does my money go"?

I am not an advocate for this practice, but I have followed it for at least 20 years and I think I benefit from it. Also, it really does not take very much time, and it does focus your attention on how your money leaks away. I have become much more frugal without really trying very hard just by keeping this detailed data.

Ha
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Old 03-31-2011, 07:29 AM   #32
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< 50 for me, as I buy medical supplies and meds for free clinics. Otherwise, < 25 transactions per month.
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Old 03-31-2011, 10:09 AM   #33
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About 25 per month for me, 50 per month for DW (she does most of the shopping)
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Old 03-31-2011, 01:02 PM   #34
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JmFromTx,
I really don't track the number of transactions, and I don't really track 'Cash' purchases. I do however, use Quicken and use a credit card for as many purchases as I can. Just about everything over $5. That gives me a pretty accurate account as to where the money goes, and it was easy to determine the number of transactions.
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Old 03-31-2011, 01:10 PM   #35
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Generally close to 100 per month (for the two of us).
I like to track everything in Quicken (entering the data at least several times a week).

I don't, however, enter small cash purchases, although I'm including them in the total here. I just have a "Cash" category that records ATM withdrawals. Less than 25% of the monthly spending is in cash.
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Old 03-31-2011, 01:11 PM   #36
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If you use Excel, the count or counta functions will give you an automatic count of the number of entries.

Ha
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Old 03-31-2011, 01:21 PM   #37
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I am <25 including cash transactions. I don't like to shop.
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Old 03-31-2011, 04:22 PM   #38
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Well, there is really no other way to definitively answer the question-"where does my money go"?

I am not an advocate for this practice, but I have followed it for at least 20 years and I think I benefit from it. Also, it really does not take very much time, and it does focus your attention on how your money leaks away. I have become much more frugal without really trying very hard just by keeping this detailed data.

Ha
I think it would scare me if I totaled up all the money I spend on things I don't need. I'll have to be content with making sure there is money in the bank at the end of the month.
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Old 04-01-2011, 08:17 AM   #39
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I keep track of our expenses the old fashion way, using a home/office budget spreadsheet book.
For our family of five, two in college, we average around 100 transactions per month, counting deposits, bill payments (written checks and automatic withdrawals), and credit card charges.
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Old 04-01-2011, 08:41 AM   #40
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On average, my bill paying credit union account has 15 transactions - all monthly recurring bills with automatic payment + other less frequent bills by check (water bill, school taxes, county taxes, housecleaner, dog licenses). I wish the municipal bills due could be automatically deducted.
I do two transfers each month to replenish the bill paying account with a preset baseline amount to cover the known recurring bills, i.e. auto/house/boat/dental insurance, Netflix, Time Warner, utilities, etc.

I did not count individual credit card purchases. I use one cashback credit card for all of my consumer, gasoline, household, and entertainment purchases and I didn't feel like counting them Ok, I counted the March credit card purchases. The answer is 20 .
I do not have automatic payment set up for my credit card. I faithfully keep all cc receipts in my wallet next to my cash. I manually pay off my credit card to coincide with bi-weekly direct deposits (pension + annuity) into my regular savings account. I carefully reconcile the posted charges against the receipts in my wallet.
If I need to put more into the bill paying account, I will do that separately so I can see what I have spent above and beyond the preset baseline amount.
The direct deposit account is incoming, the bill paying account is outgoing. It saves me the trouble of doing a separate spreadsheet.

I can review my monthly spending on a macro basis simply by downloading my monthly bill paying account statement. I can see transaction detail by printing out my credit card statement.
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