Comments on: How Much Money are we Spending?

By: Mrs Money

Mrs Money — Sun, 07 Mar 2010 17:06:23 +0000

Mr Credit Card- That’s awesome! It sounds like you have a great system going on. It’s hard for me to use just the credit card because then I don’t know how much money I’m really spending. I do use it for gas though, because I get rebates on it!

By: Friday Finds & Joining the Yakezie Challenge!

Friday Finds & Joining the Yakezie Challenge! — Fri, 05 Mar 2010 13:18:15 +0000

[...] Mrs. Money over at Ultimate Money Blog is tracking every single penny she and Mr. Money spend this month in How Much Money Are We Spending? [...]

By: Mrs Money

Mrs Money — Wed, 03 Mar 2010 23:16:01 +0000

Revanche- It’s hard, isn’t it? I hope this is a good month for us and I don’t feel too bad about how much we spend.

By: Mrs Money

Mrs Money — Wed, 03 Mar 2010 23:15:30 +0000

Phoebe- It’s going to be interesting to see how this works out. I’m kind of nervous. I think it will be beneficial, and if I can help myself and maybe someone else, I’ll be happy!

By: Revanche

Revanche — Wed, 03 Mar 2010 18:42:10 +0000

P.S. It DOES make me feel bad when I spend frivolously. And I haven’t decided if entering GC spending the same way as a reimbursed expense is cheating or not.

By: Revanche

Revanche — Wed, 03 Mar 2010 18:41:16 +0000

I started my spending spreadsheet this year, and have shared part of it when I needed to show how much money I’d spent in a week on dental expenses (*shudder*).

The way I deal with reimbursements is just entering the transaction in the description as a reimbursable event, but not entering the amount separately in the expense column – I just confirm later that it’s been reimbursed by striking through the item.

By: Mr Credit Card

Mr Credit Card — Wed, 03 Mar 2010 05:41:54 +0000

We charge everything to our credit cards. Everything is linked to quicken, so we can see at a glance where the money goes at the end of the month or even daily. We can then make adjustments along the way. I do pay my balance in full every month so the card is used for rewards, convenience and tracking purposes.

This will not suit everyone, but is how we do it. It’s much easier than keeping every single receipt and keying it into excel.

By: Phoebe @ GettingFreedom

Phoebe @ GettingFreedom — Wed, 03 Mar 2010 02:53:22 +0000

I used to do a monthly financial update that divulged a lot of financial information, but it wasn’t a to the penny type thing. I’m pretty open about our debt, but for some reason I have a hard time sharing how much my mortgage payment is (that is pretty much the only thing I have an issue with, though!).

I wouldn’t mind posting every penny spent, though. I think I would group some categories together, though, so it wasn’t obvious how much my mortgage bill, insurance, and electric are (or whatever).

Using cash we tracked everything that we spent at home (just not publicly), and boy was it an eye opener for us! That’s what has helped us in our debt journey the most.

By: Mrs Money

Mrs Money — Tue, 02 Mar 2010 23:10:48 +0000

Leonard- It is working for me so far! I’m almost afraid to buy things like that or fast food.

By: Mrs Money

Mrs Money — Tue, 02 Mar 2010 23:10:26 +0000

Austin-I know! It’s always the small expenses that add up for me too!

I have already been noticing that I’m afraid to spend anything. Thanks for the encouragement!