Tracking your spending

[Geld ist Freiheit]

I use the Spending Tracker Pro app on my phone. The upgraded version allows you to input recurring transactions (monthly bills etc).

As I'm a LBYM type, I don't bother with the income side, I just track expenses every time I spend some money. Has charts & graphs features.

Though my expenses vary month to month, the running average have been pretty consistent for the last 18 months. Definitely helps when planning for retirement.

I usually round up to the nearest $1 or $5 for ease of use and to add a bit of cushion.

Recently added Mint as an easy summary of accounts/net worth. Don't use it for bills and such just yet. It's definitely less glitchy than Quicken as others have mentioned.

 

[pacergal]

My bank and credit union have spending analysis apps that I use, they combine both debit and credit cards. I check them once a month and print out the year to date one to file. I also am an old time user of paper ledger books! I have ours for the past 25 years--will shred/burn them one of these days--lol.

 

[jkern]

I have been using Excel spreadsheets to track spending and create budgets for the last 28 years. It takes about 10 to 15 minutes per month and about 1 hour at the end of the year to set up the following year.

 

[sengsational]

My tracking software is so old it needs to be run in a Windows Virtual PC box, hehe! But it's the devil I know: MYM. It has dll's from 1993

 

[rpguy4]

Started with MS Money in 2007, and now using MS Money, Sunset Deluxe version.
It's free. It's a very manual process to import data. But its been adequate to track our income and expenses for the past 10 years.

 

[eastnortheast]

I use YNAB. Use it just to track expenses. Don't really have a budget, but we like know where each dollar goes. I keep a running 12 month overall report to get yearly expenses, and it has been remarkably consistent over the years, which gives me confidence about what will be needed in retirement.

 

[FIREd]

I used Quicken to track our expenses for many years. But we simplified our finances when DW retired. I no longer track our spending in great detail and Excel is good enough to do the job now.

 

[texcurtis]

Excel spreadsheet. One summary tab with totals from each month and each month has a tab with the same set of expense categories. Doesn't take long to input a couple times a month. On first of month I update expense totals and net-worth values.

 

[sakowitzm]

I use a basic spreadsheet. A few years back someone on this board was kind enough to share theirs with us, and that worked very well for me. I've tweaked it over the years. Below are my current expense categories.

Except for a few extraordinary items each year (ex: paying off the mortgage), there are two ways items get logged -- 1) directly off of each credit card bill, and 2) directly out of the checkbook register. Are there other ways to spend money on a regular, ongoing/monthly basis? So after I pay the credit card bill, I just sit down at the computer and enter each item in its appropriate category. Same for the checking account, which I do after the end of each month.

There are a few irregularities that I just accept. I log ATM withdrawals, but I do NOT log where that money goes (since it's not on a credit card bill or a line item in the check register). I figure over time cash outlays go more or less to the same places. Also, prior to getting an Amazon card, everything I bought on Amazon (which is a LOT), simply got lumped into BOOKS. I knew it wasn't books, but my credit card bill didn't give any details. Now that I have the Amazon card, that gives me the details.

HOME EXPENSES
Real Estate Tax
Virginia Power-Electric
Washington Gas
Fairfax Water
Local Phone-Verizon
LD Phone-MCI
Cell Phones-Verizon
Cox Cable
Poplar Park HOA
Furnishings/Appliances
Pleasant Valley Landscapes
Lawn Doctor and other lawn care
Maintenance/Repair (including RA Dobson)
Home repair, maintenance
Other
Total HOME EXPENSES

DAILY LIVING
ATM
Wegmans
Groceries and other Food <> Wegman's
Costco-Target-WalMart
Personal Supplies / CVS
Clothing
Restaurants
Dry Cleaning
Salon/Barber
Massage/Pedicure
Help for Ruth
Other
Total DAILY LIVING


TRANSPORTATION
Fuel
Repairs/Maintenance
Registration/License
Personal Property Tax
Other
Total TRANSPORTATION

HEALTH
Doctor
Prescriptions-all
Dentist
Labwork
Exercise, Yoga
Weight Watchers
Other
Total HEALTH

INSURANCE
Auto
Health
Homeowner's
Life
Other / LTC
Total INSURANCE

RELIGION/CHARITY/GIFTS
CBE Dues
Other CBE Expenses
Charitable Donations
Other
Total RELIGION/CHARITY/GIFTS

ENTERTAINMENT
Netflix
Movies
Concerts
Theater
Books
iTunes
Other
Total ENTERTAINMENT

PETS
Pets
Other
Total PETS

SUBSCRIPTIONS
Newspaper
Magazines
Club Memberships
Total SUBSCRIPTIONS

VACATION
Travel
Lodging
Food
Rental Car
Entertainment
Gifts
Pets at Vet
Other
Total VACATION

MISCELLANEOUS
Checkfree fee
Postage
Other
Total MISCELLANEOUS

 

[Midpack]

I also use Excel, and have for at least 20 years for budget/spending and investing/portfolio tracking. I used spreadsheets all my career, VisiCalc, SuperCalc, Lotus 1-2-3 and finally Excel - so it's second nature to me and DW. It's incrementally free (we use it for many other purposes that dedicated budget software couldn't handle) and allows the advantage of unlimited customization and the peace of mind of knowing every assumption and calculation. I tried Quicken several times, but it seemed like it took way more time, and some customization just wasn't available - but it's been more than 5 years since I last tried it, it may be easier and better now.

 

[gerntz]

What I know is that more comes in than goes out. I'd hear about it if that wasn't the case.
The End.