Keeping track of your expenses

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I was just reading an article about building an emergency cash fundwritten for freelancers, but relevant to almost everyone in these economic times.

The first tip: keep track of all your expenses so you can see exactly where your money’s going, then eliminate the things you don’t need.

I keep a detailed log of all my business expenses in an Excel spreadsheet, but I’ll admit I find the prospect of tracking my personal outlays rather daunting. Do any of you do this, or have you tried it in the past? How do you categorize things? Do you use a computer spreadsheet, or a paper planner?

2 thoughts on “Keeping track of your expenses

  1. I have been using Microsoft Money for about 15 years now. By always using my Debit card or Credit card to perform transaction when ever possible, and downloading electronic statements into Microsoft Money I have been able to get a very accurate picture of where all my money has been going as well as how my spending habits have changed over the seasons and years.

  2. I write my expenditures onto my weekly page as a list, then each week I total up the categories (groceries, entertainment, etc) and also a weekly grand total. Then each month I add everything up to see how much I’m spending where. This is really helping me be conscious of where my money goes, and where I can cut back.

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