A spending log isn’t that big chunk of wood you threaten to beat your partner with every time they splash out on something totally unnecessary (that’s the “spending stick”…). A spending log is a record of how much you spend, when, and on what. Your log can be as simple as jotting down a few figures in your diary or as complicated as a spreadsheet with rows and columns for every item you purchase and the precise time of day. For most of us, something in between will suit.
Creating your spending log
Either in your favorite spreadsheet program or on paper, draw up a grid with these categories as column headings:
You might want to include more detailed categories, such as “Lunch” if you tend to buy lunch out, “Charity” if you give regularly to charities, “Loan repayments”, “Studying”, and so on.
In the first column, write “Date” then put each day on a separate row:
Mon, Sept 1st
Tues, Sept 2nd, etc.
It’s up to you whether you fill your log in on paper or on the computer. The advantage of using a spreadsheet program is that you can automatically total your spending for the day/week/month, or your monthly spending across different categories. But you might find you’re better at regularly filling in a paper log as you can easily carry it with you.
Creating your spending log
Either in your favorite spreadsheet program or on paper, draw up a grid with these categories as column headings:
- Bills (this covers rent, electric, gas, water, car payments etc)
- Groceries (anything you buy to eat/drink at home)
- Household (toiletries, cleaning stuff, domestic appliances)
- Travel (bus, train or plane fare, petrol)
- Entertainment (CDs, books, magazines, meals out, days out)
- Misc (anything else, eg. buying gifts)
You might want to include more detailed categories, such as “Lunch” if you tend to buy lunch out, “Charity” if you give regularly to charities, “Loan repayments”, “Studying”, and so on.
In the first column, write “Date” then put each day on a separate row:
Mon, Sept 1st
Tues, Sept 2nd, etc.
It’s up to you whether you fill your log in on paper or on the computer. The advantage of using a spreadsheet program is that you can automatically total your spending for the day/week/month, or your monthly spending across different categories. But you might find you’re better at regularly filling in a paper log as you can easily carry it with you.
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