Results 1 to 9 of 9

Thread: expense tracking - a question

  1. #1
    Senior Member
    Join Date
    Jan 2011
    Posts
    5,478

    expense tracking - a question

    I am tracking daily expenses this year (after a 10 yr break). Once a month, I will enter the daily spending data by category into a spreadsheet. What is the most sensible way to show/log credit card expenses made in one month but not paid for until the next month? Do you enter in month of purchase or when actually paid for? For whatever reason, this is confusing to me.

  2. #2
    Senior Member SteveinMN's Avatar
    Join Date
    Mar 2012
    Location
    Saint Paul, Minnesota
    Posts
    6,618
    I do it when I pay the bill. I figure that's when the money actually comes out of the wallet; before then I don't need to have it.
    Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome. - Booker T. Washington

  3. #3
    Yppej
    Guest
    I do it at the point of sale and accrue for it by subtracting that amount from my checkbook. When the bill comes in I have the money already set aside to pay it.

  4. #4
    Senior Member
    Join Date
    Aug 2016
    Posts
    7,451
    I write it down when I spend the money, at the point of purchase.

  5. #5
    Senior Member catherine's Avatar
    Join Date
    Jan 2011
    Location
    Vermont
    Posts
    14,636
    I also account for it in my YouNeedABudget when I spend the money, whether it's credit or cash.
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
    www.silententry.wordpress.com

  6. #6
    Senior Member
    Join Date
    Jun 2015
    Posts
    2,843
    Date of purchase on my monthly grid. We pay bills in full monthly-no debt so it's not like we need to "save up" to pay. It just makes life easier.

    Each month I tally our monthly handwritten grid into my excel spreadsheet.

    This is year 20 and it's so awesome to take a look back. The road we have traveled financially is amazing! Tracking every penny started it all!

  7. #7
    Senior Member
    Join Date
    Jan 2011
    Posts
    5,478
    I am doing it now in my third year of retirement because even though I track larger categories like groceries, the small expenditures are unknown. It seems like I may be leaving a lot just sitting in my checking account every month that could be better used by investing or putting in travel pot.

  8. #8
    Senior Member
    Join Date
    Jun 2015
    Posts
    2,843
    Quote Originally Posted by pinkytoe View Post
    I am doing it now in my third year of retirement because even though I track larger categories like groceries, the small expenditures are unknown. It seems like I may be leaving a lot just sitting in my checking account every month that could be better used by investing or putting in travel pot.
    True. Our accounts build in unspent $ through the year. We end up paying cash for travel and in December can pay both property tax out of it. Our finance guy can't believe we don't need $ this year but we think we'll be fine even though we have some large expenditures planned.

    It's awesome!

  9. #9
    Junior Member
    Join Date
    Mar 2019
    Posts
    19
    I enter in the cost from every individual purchase for the month it was purchased into a budgeting spreadsheet. That way I know exactly where the money went. I feel that if you track just the payoff amount of your card each month it makes it more challenging to know where you can cut back.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •