After being shocked at how much I spent on clothing in 08, I decided that in 2009 I won't be surprised by how much money I spend on anything. I can still spend on things that matter to me, but I will be totally aware of my choices and their cost.
So I made a very detailed list and will keep meticulous track of it - recording everything I spend each day. If done daily it won't take more than 5 min. And I will satisfy my curiosity at how much different aspects or our life cost. As it turns out, just estimating is not very accurate.
So here are my 2009 spending categories:
electric bill
gas bill
cable bill
eating out 2 of us
eating out with friends
take-out
lunches and breakfasts at work
alcohol
groceries:
dairy
veggies
fruits and berries
sweets
all other food
household supplies (bounty, bulbs, etc.)
hygene (toothpaste, shaving, shampoo, etc.)
cleaning supplies
laundry
dry cleaning
furniture, decor
house other (linens, utensils, etc.)
clothing
footwear
accessories
grooming (haircuts, nails,
make-up, skincare)
vacation
weekend getaways
sports
skiing
entertainment - all other
electronics
Medical/dental
Gifts/charity
pet food/litter, supplies
car insurance
gasoline
tolls
tickets/fines
car maintenance
car repairs
savings retirement
savings non-retirement
I will keep 2 columns "current month" and "year to date".
I view this as a kind of personal finance experiment.
And I think really knowing how much I am spending will help me in cutting down.
Where does the money really go? True cost of living!
December 17th, 2008 at 03:59 am
December 17th, 2008 at 05:09 am 1229490551
December 17th, 2008 at 12:34 pm 1229517256
December 17th, 2008 at 01:56 pm 1229522166
December 17th, 2008 at 04:33 pm 1229531621
December 17th, 2008 at 07:33 pm 1229542389
Believe me, once you get into a routine, you will just automatically make sure you have receipts (or make your own) for every purchases. It'll become second nature.
December 18th, 2008 at 12:26 am 1229560003
December 18th, 2008 at 01:48 pm 1229608082
I agree that if you have too many things ending up in Miscellaneous, you need to make more categories, otherwise the exerecise of tracking your expenses is not very helpful if you just lump it in one pot. the mimscellaneous category is an easy way to accumulate "hidden" expenses.
December 18th, 2008 at 05:25 pm 1229621156
Koppur, home phone and internet are included in the price of cable package. Cell phones - the whole extended family is on one plan that is paid by the matriarch - it is kind of a tradition/gift. Very generous of her.