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I write the bills down in an excel spreadsheet. There are some that aren't flexible like taxes, insurance but those that can increase or decrease depending on spending. My retirement contributions are mandated by my employment contract and are enough so the only thing I can do is save more in other financial products. I might consider that now that I know retirement is closer than decades out in the future.
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I've got an Excel spread sheet I've been working though for the last decade.
It is divided into categories for : Utility, Food / Supplies, Gas /Truck Maintenance, Takeout, Other, Bar, Clothes, Medical, Luxury, Hobby, Household....
Some of those categories may overlap a bit. Food / Supplies is specifically anything that came from the supermarket, and includes cleaning supplies, toiletpaper, detergent etc. Takeout is specifically fast food or junk food at the gas station. The occasional case of beer falls under bar. Wing night with friends and I pick up the tab including all the alcohol may fall under bar as well. Beekeeping supplies or telescope parts might fall under hobby, while PC parts land on luxury. Sooner or later I am going to split the Gas / Truck Maintenance into separate categories.
I log every receipt and every check by hand in the spread sheet. It's a minor chore if I do weekly, it's an epic task if I let them build up for 3 months ><!
I should review this against my bank statements, I typically don't.
I use it for less of a budget and more of a general progress report of my spending month to month.
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Like some others, mostly what I track is savings now. I understand what our "normal" monthly expenses are, and I do review our card statements and other accounts for in/out. Our only debt is our home and so as long as we're maxing out retirement, saving cash, and have a plan to pay off the home well before 50, I don't feel a need to get down to line-item detail or specific categories at this time.History will judge the complicit.Comment
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