Expense Tracking & guide to savings money. Any idea's?

Hey,

I've been using a program YNAB (You Need A Budget) for alsmot 12 months now, not for a budget per se, but more so an expense tracker, and I think it's going great. Obviously understanding where your money goes is the first step in knowing your habits a little better.

Recently, I've been putting together a spreadsheet for groceries, a 'price-book' it is titled I believe. To break down my '$200' shopping bill even more. Sounds like a lot of overkill to some, especially my wife lol.. But i believe it has merit, just wondering if anyone has any pre-filled out spreadsheets of the such, or programs they use for this? I've attached a picture, does anyone do something similar? I was thinking I should learn how to use microsoft access, so I can 'filter' the item I am looking for, the best price i've paid, when, where etc..

Attached Images

budget.jpg (99.2 KB, 34 views)

I think mint.com will be a great service once they launch in Australia.

Yes, Mint.com looks like a great service. I've noticed a number of similar programs becoming available, where you can track your expenses, like ANZ money manager, inDinero, etc.. I'll continue to work on my pricebook and fine tune it, I think there is some potential with something helpful like this.

Hi Midsomer,

I like Excel and use it if for this purpose as well. I think you need to be careful putting too much energy into budgeting and cost cutting, much more marginal value generated from earning more I think.

So have a simple and effective budgeting system (could be as simple as paying yourself first) and combine with increasing skills and income, growing a business etc. I've never calculated the per egg cost of my grocery bill before!

Regards,
Andrew

Hi guys,

I use Xero Personal and love it.

Online Accounting Software. Free Trial, Free Support | Xero

I first started using it for a business I own and then tried their personal option. Simply export your transactions from all your bank accounts online and import them into Xero. It automatically categories and tracks all your expenses and lets you set goals etc.

There's a free trial and after that I think it's about $50 a year.

Hope that helps,

Mike

Great ideas - will look into these options!

Hi Midsomer,

I use excel to track all of my expenses. It is certainly an eye-opener to see exactly where the money goes. It takes a lot of time though. Micro-managing your groceries must be a killer. It will probably be worth it though, if you think you are spending too much and want to see where to cut down.

You're right though. It's only the first step. And without the next step, most people will fill the gap they have created by cutting down expenses with other random purchases. Do you have a plan in place for your savings and investments?

Hi Midsomer,

I reckon the best way to keep your grocery bill down is to meal plan for the week/2 weeks, that can save you heaps just there without having to expend energy in the nitty gritty.

Also I think some of the online programs are great, well contributed everyone!

Good luck!

Midsomer, just wondering if you made a decision?

Check out Pocketbook https://getpocketbook.com - a new service. My mates are raving about how easy it is compared to the likes of ANZ Moneymanager and Xero Personal. From what I've seen of Mint. it appears to be similar.