Tracking receipts

iVillage Member
Registered: 07-02-2008
Tracking receipts
6
Wed, 02-04-2009 - 5:49pm

I have made it my Feb resolution to track receipts.


Breaking them down in terms of "needs" "wants" "kids purchases" "dog purchases" etc.


I am finding that I am the one making most purchases. This upset me. LOL.


I make most of the grocery purchases, most of the necessary purchases for the kids, etc.


Do you guys track receipts? what's your best strategy?

iVillage Member
Registered: 09-07-2003
Wed, 02-04-2009 - 7:35pm

I made myself a monthly "worksheet"


It is very simple and it goes with me Everywhere.


The left half is for expenses and the right half is for income.


All of my SPECIFIC BILLS are written out:

Teresa
http://www.affordingpickles.blogspot.com

iVillage Member
Registered: 11-14-2008
Thu, 02-05-2009 - 10:37am

You make most of the purchases because that is your role in your household. You cook the meals(groceries), you run the kids(you need gas and to pay for their activities). Of course you are the the one spending the money. The trick is to keep it to a minimum for groceries and supplies for the family. You are smart, you know the difference between needs and wants. You know if you are over spending.

Tracking receipts........I have started this for Jan and I am continuing into Feb. I was just going to do it for two months but now I realize that will not give me a realistic picture of what is going on. So I was thinking 6 mos to a year. I have them is spreadsheet and plan on dropping the figures in pie chart after some time to see where it is at. I might be surprized? I think it will give me a better picture than just listing the amounts. Nothing like a good ol pie chart to slap you in the face to see where you can trim the fat! LOL.

Good luck!



iVillage Member
Registered: 11-17-2007
Thu, 02-05-2009 - 11:06am

I did for a couple of months because I use quicken and when Raymond bring in a receipt I would just take it off quicken by the total. And I was like you I really didn't know where the money was truly going.


So for a month I made a fake checking account in quicken and divided up the receipts by what they were and not by the total.


It is

Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 02-05-2009 - 1:47pm

When we did this, I used a big whiteboard in the kitchen. Really! Yes, it was a little embarrassing when people came over, but I'll tell you, there is nothing like having your spending up there to face you every time you walk into the kitchen.

I'd ask DH to collect receipts for everything, and I'd ask him, "Did you buy coffee today? Gum? A buttered roll? How much did you spend when you went to the pub last night?" LOL! He is the SAH parent, so he spent most of the money. Still does.

Once a week, I'd add the stuff up in categories. I had categories for "real food," "household necessities" (like toilet paper and light bulbs), "fun food" (pizza, bakery, etc.), "dinner out," etc. You'd be amazed how much you have to set aside just for school stuff ($7 for this field trip, $23 for that one, $50 for the bus pass, etc.).

I did this for several months, and it really helped us figure out where our money was going.

Kelly

iVillage Member
Registered: 08-04-2008
Thu, 02-05-2009 - 1:59pm

Kelly -


I don't know how old your kids are, but school stuff just increases and increases the older they get.




Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 02-05-2009 - 4:33pm

My kids are 16, 14, and 8.

I used to tie allowances to chores, but I stopped because I found that money doesn't motivate them in the slightest! If they didn't get allowance, they just shrugged. If that meant they couldn't do things, they just shrugged over that too!

However, they do have household chores that they have to do. They need to clean up after themselves and fold laundry every day. They have to keep their rooms reasonably clean, and any time they're asked to pitch in and help with a project or a chore, they're expected to. My feeling is that taking care of the house is just part of family life, and they shouldn't be paid for it.

On the other hand, they should have spending money, also because they are part of the family. However, the older two don't get allowances anymore because they're old enough to earn it. The 16yo gets $5/hour babysitting 8yo DS when DH and I go out, which is almost every week. The 14yo earns $10/week supervising 8yo DS's cello practice every day.

We do pay for a lot of stuff for them, because we can, but I have my limits. If it's for an academic reason or a sport they've committed to, we pay for it. If it's for fun on their own (i.e. not a family outing to the movies or skiing), they pay for it. This spring I'm going to experiment with giving 16yo DD a clothing budget and see how she does with it.

Kelly