#1
Do any of you track your spending? For those who prefer using debit/credit cards, it's pretty easy to see your spending online, but for those spending cash, it might not always be so apparent how much is being spent and where it all goes.

I personally track my spending by category, regardless of which payment method I use (yes, I do track my cash). I budget my categories to keep my spending under control, keeping in mind that just because I might have some extra cash in my account, I still have large irregular payments (insurance, registration, gifts) that come up.
#4
Quote by behind_you
The best way to track your spending is to not spend

Every time you dont spend a child dies
Quote by Night
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#6
At the end of my first uni year I made a list of everything I spent so I sort of had a rough idea what my money went on. Budget for further years were basically based off that, prices of services, food, rent, fuel etc. were basically constant but my entertainment spending would fluctuate between sectors in the second and third years. Fourth year I didn't bother doing that.

I make sure to always know how much is in my account and always to watch my money so I don't get overdrawn.

I'm probably gonna roughly budget for things when I get a proper job. Eg. rent, taxes, bills, foods, savings and then the rest of the money for random shit I want.

I don't do it stringently, just mentally but I think that'll have to change once i'm on a salary.

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#7
I keep a spreadsheet of my spendings and try to set myself hard limits for each month. It also calculates how much I have left till the end of the month and what my daily average should be.
#9
I really should track my spending but don't. I'll get into the habit some day...

BUT...last tax season I accounted all of my non-living expenses, turned out to be HUGE. Submitted the total for tax write offs and got out of paying

...modes and scales are still useless.


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#10
I'm poor so I rarely spend money on anything apart from alcohol, so I just keep track of my spending in my head.
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#11
i don't track my spending, i feel like i don't spend enough to warrant it. working in san francisco has slowly pushed up my expectation for the price of lunch, but otherwise i'm pretty conservative with my wallet.
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#13
I track everything, and update stuff each time I buy anything. I like knowing exactly where everything stands.
#14
Quote by Tempoe
^ how much for lunch there?


you can pay $7-8 for a decent sandwich, but i got tired of that really quick. anything more exotic than that will average to $10.

of course you can always go to subway, but even they've gotten rid of their $5 footlongs (so i've heard). my office isn't in such a great area for food though.

i've been told that that's a lot. how much do you guys pay?
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Last edited by vIsIbleNoIsE at Oct 2, 2014,
#15
I'm back living with my parents so I feel a little more at liberty to spend a little more of my money on booze and video games.
#16
I somewhat track my spending.

I just usually set limits to things such as:
- xxx to cover bills and food or whatever else I MUST pay for on a monthly basis, that is slightly more than I need to pay out but keeps me covered should anything increase (as well as leave me a big wad of spendable cash at the end of a year when it's not been used).
- xxx always kept to the side to cover any breakages, travel, whatever. Things I'm not expecting to happen but always has a chance
- xxx to spend on crap
- xxxxxxxxx to spend on beer
- £20 always left in my bank no matter what. I've done it since I was 16 and got my first bank account. I've always felt that £20 is enough to cover almost any situation until I get paid should I ever need it. Probably won't these days, but at least I know it's there.
When I was eleven I broke the patio window and my mother sued me... She's always been a very aggressive litigator.
#17
Quote by JackWhiteIsButts
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#18
I am a receipt hoarder yes.

I find it easier to keep track when I pay in cash because something is physically leaving my wallet forever. I only use my credit card for medical expenses and emergencies and my debit card for big, infrequent but regular expenses like transport, basic necessities, phone contract, etc. everything else is cash and I only withdraw money at the beginning of the month. Near the end of the month I allow myself to use the leftover cash for something fun because shopping helps me feel less sad. If I don't use all of it I donate the rest to the SPCA or the cat welfare society or something.


In addition to this I set aside some money for savings and after I accumulate a certain amount I am going to invest a certain percentage of it.


I live with my parents now but the general principles of this would still apply in other situations.
cat
Last edited by guitarxo at Oct 2, 2014,
#19
I only have a debit card and only look at my bank a/c if I need to make sure I've money for expensive things I might need. Otherwise I just spend my money until it says insufficient funds - which typically happens afew days before payday - in which case I start eating all the rice and pasta my mum keeps buying me in bulk.

One day I'll stop living like a student, but it won't be anytime soon.
#20
Quote by Xiaoxi
I really should track my spending but don't. I'll get into the habit some day...

BUT...last tax season I accounted all of my non-living expenses, turned out to be HUGE. Submitted the total for tax write offs and got out of paying
Way to stick it to the IRS!

Quote by guitarxo
I am a receipt hoarder yes.

I find it easier to keep track when I pay in cash because something is physically leaving my wallet forever. I only use my credit card for medical expenses and emergencies and my debit card for big, infrequent but regular expenses like transport, basic necessities, phone contract, etc. everything else is cash and I only withdraw money at the beginning of the month. Near the end of the month I allow myself to use the leftover cash for something fun because shopping helps me feel less sad. If I don't use all of it I donate the rest to the SPCA or the cat welfare society or something.


In addition to this I set aside some money for savings and after I accumulate a certain amount I am going to invest a certain percentage of it.


I live with my parents now but the general principles of this would still apply in other situations.
I used to hoard my receipts for everything, but after I gave it some thought I got rid of them. Now I pretty much just toss the receipts after I categorize the expense. Of course, I keep receipts for things I could possibly return (until I can no longer return them) or stuff like that.

I do like the finality of a cash transaction in that once the cash has left my hands, the transaction is over -- there's no bank account or credit card balance that gets affected.

Quote by Thrill-house
I track everything, and update stuff each time I buy anything. I like knowing exactly where everything stands.
This is totally me.
Last edited by guhtar at Oct 2, 2014,
#21
Yeah I track my spending. I rarely use cash, always use debit card since that paypass/paywave thing is so handy and most stores have it.
#22
Mint. Mint mint mint mint mint. Mint.com

That's how you do it. I am terrrrrible at budgeting and keeping track of money but my gf got me hooked on mint and now I'm a pro. The mobile app is super handy. We aggregate all of our accounts in it for budgeting and tracking, that way we can keep up on car and rent and student loan payments while still budgeting for comic books and recording gear. It's awesome, and a godsend at tax time.
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#23
I keep track of credit card (I do 99% of my spending on this) and my income side by side in a spreadsheet so I always know that my wages>credit card bill.

I also keep track of how much of the profit I put into long term and short term savings.
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#24
I only ever use cash at school, because I'm a commuter, and **** commuters. I take out $5 or $10 from the ATM, and then it's gone. At the very most, I have like $20 on me, and it might last two days. But I don't really keep an eye on it unless I'm saving for something, until it comes time to pay my credit bills.

That's going to change now that I'm purchasing a guitar and just got a car.
#25
Quote by Thrashtastic15
lol, what am i an accountant? im a season ticket holder for an nhl team for fks sakes

i remember my first $20 dollar bill :')
Quote by Sid McCall
Mint. Mint mint mint mint mint. Mint.com

That's how you do it. I am terrrrrible at budgeting and keeping track of money but my gf got me hooked on mint and now I'm a pro. The mobile app is super handy. We aggregate all of our accounts in it for budgeting and tracking, that way we can keep up on car and rent and student loan payments while still budgeting for comic books and recording gear. It's awesome, and a godsend at tax time.

:')




#26
Quote by MinterMan22
i remember my first $20 dollar bill :')

:')

oh snap he done got ya there bud
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#28
A little, but just caus ill have to fly to miami instead of bus to detroit to see a playoff game from here on in
Quote by Night
wtf is a selfie? is that like, touching yourself or something?
#29
Quote by Thrashtastic15
lol, what am i an accountant? im a season ticket holder for an nhl team for fks sakes

For the Panthers. There goes $2 of your annual budget.
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#30
Quote by guhtar

I used to hoard my receipts for everything, but after I gave it some thought I got rid of them. Now I pretty much just toss the receipts after I categorize the expense. Of course, I keep receipts for things I could possibly return (until I can no longer return them) or stuff like that.

I do like the finality of a cash transaction in that once the cash has left my hands, the transaction is over -- there's no bank account or credit card balance that gets affected.


I just dump all the receipts in my wallet into a shoebox every day, and at the end of the month I go through everything since 1) don't have time to do it daily 2) it isn't something that I need to look at immediately, but is useful for future planning

And yeah I have like $6 in my main transactions account now so it's good that I can rely on cash, which I have enough of to last a couple weeks
cat