IMG_1616.jpg

Hi.

Welcome to my blog. I share my life, style and advice. Hope you enjoy!

How I Track My Spending

How I Track My Spending

HOW I TRACK MY SPENDING.png

How I Track My Spending

One of my goals for 2019 is to track my spending. With each paycheck, I always allow a certain amount for my savings, rent, and bills, but other than that, I don’t track what I spend day-to-day. Before the new year, I researched a bunch of methods and figured out one that would work best for me. I keep a spreadsheet in my google drive and record every purchase I make for the month. It’s a lot of work, but it’s helped me be more aware of how I’m spending my money.

I update my spreadsheet two to three times a week. With each purchase, I assign it a category. I organize my purchases into the following:

Business: Anything I spend that is business or blog related

Income: Any paycheck I receive from my job, blog, or Poshmark

Investments: Transferring money into my investment account or money I’ve earned from investing

Bills & Utilities: Rent, Gas, Electric, Wifi, Netflix, and Spotify

Entertainment: Arts & Music

Shopping: Clothes, books, electronics, and hobbies

Personal Care: Laundry, haircare, massage, and skin & makeup products

Transportation: Subway and car rides (Uber & Lyft). I don’t drive in the city but if I had my car I would also add my gas here.

Travel: Tickets (train, bus, plane), hotels, and activities

Health & Fitness: Doctors, gym, and sports

Food & Dining: Groceries, restaurants, bars & alcohol

At the end of the month, I total up all the categories to see how much I spend in each section. One reason I wanted to start tracking my spending was to see what categories I needed to cut back on. The two categories I spend the most in are Shopping and Food & Dining. While most of my shopping purchases are well thought out and worth it, I quickly realized I needed to rethink my spending food and drink. For example, I was buying lunch during the week far too often when I should wake up earlier and pack lunch.

I just started, but after the three-month mark, I’m going to see if I’ve made any improvements.


How do you track your spending?

xx, mm


Park City Part I

Park City Part I

Casual Blazer Look

Casual Blazer Look