How do you track your expenses?

**willow** · 02-14-2006, 10:11 PM

I've been trying to use Microsoft Money (2003 version that came with our computer) since the first of the year. I set up my budget, accounts and cc debt, but I'm having problems with it, especially how the program budgets out my paycheck, I get paid biweekly so it figures in that extra 2 paychecks each year into my monthly budget. It looks like I have more to work with during the month than I really do.

It breaks out irregular expenses on a monthly basis even though I filled in the semi-annual amounts in the edit section. Auto insurance, looks under budget right now, then in June when it's due it will look like I've over spent. I know to save for these but the printed monthly budget doesn't reflect my actual expenses for the month.

I't been very time consuming and frustrating. I ended up printing off the monthly budget then refiguring it by hand for this month.

Do any of you use budget software or have you found an excel spreadsheet easier? Any ideas you have for easier tracking would be great.

**sunshine** · 02-14-2006, 10:18 PM

I use Quicken-- I only input my actual check amount each time-- as it tends to vary a bit each time (incidental overtime, extra day, shift rotations, charge nurse pay, etc.)

**dcompton** · 02-14-2006, 11:58 PM

I have used Money for a long time in various versions, and like it, but long ago gave up on their budget -- it is very cumbersome. I find it easiest to set up the same expense categories that I use in Money in a spreadsheet (for the budget) and transfer actual amounts over every week or so -- it only takes a few minutes. I do this even though I seldom budget by category now, because I can lay it out to see the whole year on one screen.

One of the things I love most about having a program like Money is being able to set up, in my checking account, a projected cash flow for the entire year. I enter known income and bills all the way through December. It shows instantly the impact that any change will have farther down the road. If I think I can increase a payment in March because I have the money, and suddenly the numbers at the end of May turn red, I know I have to rethink that! It lets me really work out a plan.

**HOOAH2003** · 02-15-2006, 05:30 AM

umm its called online banking lol...I really don't write anything down since all my bills come out automaticly.

**alabamagirl** · 02-15-2006, 09:46 AM

I just record daily spendings in a notebook and when I have time transfer to an excel spreadsheet. Low-tech but it works for me.

**tlenad** · 02-15-2006, 10:29 AM

I use a combination of an excel spreadsheet for future planning and Quicken for looking back and seeing where I stand in total.

I tried Microsoft Money a few years ago and found it not very user friendly although it probably just depends on what you are used to.

What I like about Quicken, I can download just about all my financial information from websites instead of manually entering it. I found the budget functionality to be fairly easy to use although I'm not using it heavily at this point because I just got set up back in December so there really isn't a whole lot of data in the system yet.

What I like about my excel spreadsheet, I am able to plan out to the penny how much I can send to all my bills by pay check instead of by month and can plan out long term how I'm going to be paying off my debt. I also like the flexibility of playing with the numbers and seeing how different senarios affect my pay off schedule. I found Quicken to not cater to that need.

**CortLong** · 02-15-2006, 11:17 AM

I configured a spreadsheet then printed it out. I do it all by hand with paper and pen.

If I need to check against something I check the 0nline banking, but most of the time I'm great with my little 'ledger'.

**sarathom** · 02-15-2006, 02:21 PM

I use quicken. AS far as categories, I have one for Auto:Fuel, Auto:Insurance, Groceries, Bank Charge, Utilities (all together, I don't break down each one), loan payment, Housing, RRSP (includes mutual funds and childrens education funds), Rainy Day Account and finally, household. Household includes haircuts, entertainment, restaurants, kids activities etc. I hate breaking down every little thing as it became too tedious for me. I find this system works. I know how much I have budgeted for Utilities, auto, groceries etc. and I stay within those budget restraints (I try to come under in all of them). This works for me.

**FrugalMomof3** · 02-15-2006, 02:32 PM

Well although I dont use a computer program, I do have this yearly planner thing.... when I go out to the store and buy something I come back write where I went and how much I spent to the penny.

At th end of the week I note the total amount spent and jot down some tips on how i can cut down.

One thing I learned from the past 2 weeks is I can make my own spanish sofrito marinade for about $2 apposed to spending $3 for a small tub. By me making it myself mine will last me 5 times as long and saves me $13.

~Tracy~

**Mojjo** · 02-15-2006, 04:57 PM

I stick with excel and my online banking system

**kmsinsa** · 02-15-2006, 06:24 PM

Excel + online banking

**willow** · 02-15-2006, 11:40 PM

Thank you for the ideas. I do like having my accounts set up in Money, my main problem is it is so time consuming to break everything down into budget categories. I have three household categories right now and it's tedious to break down my receipts for entries. Also if you try to change a budgeted expense for one month it changes it for every month, even prior months. I want to be able to see how I've changed my budgeting over the course of the year.

I like excel and may try to simplify my record keeping at least for now so I can get my expenses all down in one place where I can see my spending patterns. I'm thinking of keeping my checking, saving and cc account in Money to keep my balances up to date.