Keeping track of spending categories?

[Frügal]

Since I started being financially conscious, I have had an iPhone. With that iPhone, I used the PocketMoney app to track my spending. Now that we are selling those, I am trying to figure out the best way to track our spending in certain categories.

I have a couple of notebooks set up like a checkbook registers (I hate how small checkbook registers are, or else I would use that). One for checking, the other for savings. The savings notebook also has pages for categories. Each category has its own page for this month. However, this is going to prove to be a clumsy method.

Is there more friendly way of doing this?

P.S. By 'category', I mean... Well, category. Ha! Or, if you will, 'budget'. Rent, utilities, phone bill, groceries, etc.

[Nika]

there is nothing better than Excel spreadsheet
It is infinitely customizable and will add up things for you automatically.
I love my spreadsheet. I divide things for cathegories and sub-cathegories.

For example
TRANSPORTATION:
car payment
car insurance fund
car maintenance
EZ pass (tolls)
Gasoline
Metronorth
Metrocard
Garage
Parking (which in manhattan, can add up)

Same for food:
Groceries
Lunches at work
Liquor
(eating out is under the "entertainment" category)

and so on. If you are interested I can paste the entire thing here.

For me, it is interesting to see what is going on. Not that we limit ourselves severely or anything like that, it just helps to have a clear picture.

[snshijuptr]

I use a Google Docs spreadsheet, and I divide everything into Needs, Wants, Savings, and Other (this being things like reimburseable work expenses, yearly expenses that we reimburse from savings, etc). I mark next to each item a descriptor just to help me track each line (like Gasoline, Groceries, Eat Out, etc), but I don't analyze my spending by these categories. I use Google so I can access it from any of our computers and share the spreadsheet with my husband(though he rarely looks) .

[BMEPhDinCO]

I would keep one small notebook for when you are out shopping, and then add that into a large excel notebook - savings, for example, shouldn't be used daily so you shouldn't need to carry one daily.

If you go to a "no cash" life, it's a bit easier as well since the charges will all show up online...

Or you could keep one iphone, deactivated (ie, ipod touch) and keep using almost all the apps for free!

[MKKShah]

Most recently, I sat down and tracked my expenses for the entire year of 2011. Almost all my spending is through Credit cards / debit cards. Mint automatically categorizes everything for you, and pulls stuff from your banks/Credit cards. If you haven't tried it, I would strongly recommend mint.com.

[Frügal]

I use spreadsheets for our budgets, as some of you may know.

So... I guess just use the notebook to jot down how much was spent where, and then just put it into the spreadsheet later? Hmm. Adds more time, but ah well. It is only temporary until we get a [used] iPod Touch to use my apps again.

Oh, and I absolutely despise Mint. Always manages to screw up the budgets. It will try to automatically create them instead of using the ones I tell it to use. And even if I tell it to put specific transactions into certain budgets, it does whatever it wants. Haha. It is too much of a hassle.

[phantom]

Have you considered carrying around an envelope to collect receipts and entering the info from the receipts in the computer when you get home? I would think that would be a bit easier than jotting everything down in a notebook and transferring the notes to your computer.

[Nightfly]

Not everyone is sold on Mint.com. It has its issues. For one, you can't manually upload your data without Mint wanting access to your accounts. For another, it's my understanding (I could be wrong) that you can only add up to three months' worth of data via the synch feature.

[Slug]

I really don't like Mint. It's ability to update is sorely lacking and it's glitches drive me nuts. That's why I use Yodlee. It's been around longer. It updates better. And, I can see a year's worth of transactions. Plus, it keeps track of my countless passwords. Once you set up your account, I recommend you downgrade to the 9x version as the latest version has many of the same issues as Mint.

[sandrark]

Clearcheckbook.com - you can categorize your expenses, add checking, savings, CCds and loans as separate accounts.

It also has a budget and recurring bill function....

I've been using it for 3+ years, and like it a lot.

Sandi

[PMMM]

I use a program called YNAB. The acronym stands for "You Need A Budget". I use it as a standalone budgeting program. It's done wonders for me. While it's not free I think it's worth it's weight in gold. You can Google that term and go to their website. They have a dedicated forum for users as well and free online classes to learn the product. I have been using it for 2 years now. Since they added the APP for Apple it's been indispensable.

I highly recommend it if it's in your budget.

[vitalogist]

I'm fine going old school. Pencils and ledgers for me. Makes me feel like a bookie and the smell of paper and eraser marks kinda makes me think that the figures written on it are actual money.

[Frügal]

Having issues with spreadsheets. Trying to keep running totals of spending categories and what-not is a difficult task. Lots of learning to be done. >.<

[EarlyRetirementJoy]

Boy, I wish I could help you with that - I really, truly enjoy building worksheets.

I initially used Excel, then bridged my budget spreadsheet over to Google docs so my DH and I could both see the spreadsheet from our separate computers. There are minor differences between the two programs, but they are pretty darn similar for my purposes. I also keep a small notebook where I track all spend, noting both when I've transferred the amount onto our budget spreadsheet, and when the charge or debit has cleared the appropriate account.

At this point I spend no more than 10 minutes a day tracking our spend and maintaining our budget report. I have found it to be invaluable to do this daily however - both in understanding where our money is going, as well as catching the occasional oversight or error.

[Frügal]

Boy, I wish I could help you with that - I really, truly enjoy building worksheets.

I initially used Excel, then bridged my budget spreadsheet over to Google docs so my DH and I could both see the spreadsheet from our separate computers. There are minor differences between the two programs, but they are pretty darn similar for my purposes. I also keep a small notebook where I track all spend, noting both when I've transferred the amount onto our budget spreadsheet, and when the charge or debit has cleared the appropriate account.

At this point I spend no more than 10 minutes a day tracking our spend and maintaining our budget report. I have found it to be invaluable to do this daily however - both in understanding where our money is going, as well as catching the occasional oversight or error.

I wish you could too. Haha!

I'll figure it out. If not, I am doing it the long way (copy/pasting the formula every transaction to keep a running total).

We will be getting a refurbished iPod Touch soon, so that will help take the agony out of budgeting again. Haha.