Daily spend diary.

Do you bother to keep a check on what you spend?

For a few years now I have kept a record, in a small notebook for each month, of every single penny I spend. I did start to put it on a sreadsheet, but then got out of that habit.

I itemise vegetables, their weight and cost per kilo, petrol how many litres and cost per.

The budgeting part can be hard because of impulsive buys, or unexpected expenses, but when I see the total rising I start pulling my horns in.

Sometimes it can tell me how food costs are rising, by how much and when!

Re: Daily spend diary.

Yes we write down everything we spend then end of the month we have a look to see if we can cut any of it down or out, have been doing it for years.

Only now have things like phone and internet we can really cut back on and thinking of doing just that if my job gets any more precarious.

Re: Daily spend diary.

We don't write down all we spend but hubby keeps a check on the major things, utility bills, council tax and his little income tax bill. I look after the food and outings and although we do cut back it seems we're running just to stay on the same spot, can be depressing at times

Re: Daily spend diary.

Yes, I do keep a note of whatever I spend. It is surprising how many shops don't give receipts as a matter of course any more - I have to ask for them.

Re: Daily spend diary.

I always used to do this when a student and started again a few years ago when planning for retirement. I write down everything I spend each day, and review it every month and then annually. I think it is the only way I can be sure that I am living within my means, particularly now that I have no regular income.

Re: Daily spend diary.

I used to do it years ago.
In the days when husbands wages came in a registered envelope, I went straight to the building society and paid the mortgage, set aside utility money, took out housekeeping, petrol and other expenses .. if there was any over it went into a pot as savings. (it sat in the kitchen for us all to borrow from, in case of emergencies)
I kept a tight rein and knew how much I spent and what the cost of things were.
Now we have enough coming in so as not to worry but I do keep a check and save - I got my greenhouse, didn't I? .

Re: Daily spend diary.

I used to when I first got married, but I soon got out of the habit.
Now I just keep an eye on major expenses and make sure there's nothing suspicious on the bank statements. There's enough money coming in, no mortgage and an adequate cash buffer in the bank, investment bonds etc.. so I don't worry about the fiddly details of shopping etc..

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No, I never did that, but I've always made sure that I don't spend more than I can afford. I always keep a check on what goes into and what comes out of my bank account.

Re: Daily spend diary.

I started keeping a record of everything spent about four years ago and I find it's amazingly useful, e.g. I can tell how much certain things are going up each year and this tells me where we might need to cut back. In the past 48 months there were only 2 months when the outgoings exceeded the incommings and our 'reserves' easily covered those two occassions.

Re: Daily spend diary.

I do to a point, but it can become quite depressing particularly with food and I have to eat also my pleasures are small.

However, I never buy anything without asking myself 'do your really need this or would like it' and I never overspend or get in debt because I really don't need very much at all