Keeping track of spending

I pulled our spending figures together for the end of the month yesterday. I’d say it’s been and average sort of month.  We kept to our budget on items like food, but I have to put my hands up and admit that I got caught out by a couple of Bee’s geography school trips.  “I need a cheque for £50” goes the plea.  

Since January I’ve been keeping a monthly spreadsheet to record our spending.  At the end of the month I’ve transferred the totals into another spreadsheet which shows the ongoing yearly totals and included a column for the average spend. This is the first time I’ve managed to keep going with keeping records.  In the past I’ve given up, but putting the October totals  into the yearly spreadsheet has given me a sense of achievement – only another two months and we will have a whole year of spending recorded.  The hope is to have a better idea of where the money is going and how we can reduce our spending.

Spending is divided into essential items – mortgage, food, utility bills, and non essentials. This includes eating out, takeaways, presents, non essential clothing etc. The yearly spreadsheet has given me an insight into how much we are really spending on non essential items and I’m feeling a bit uncomfortable about that.  Now we know where the money is really going, it’s time to get tough with ourselves so that we can move towards the goal of paying off the mortgage and being completely debt free.

Until next time, Tawney 

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