I'm just gonna do it.

[houseelf]

After months, strike that, YEARS of consistently creating a budget and shortly thereafter asking, "Where did all the money go?", I'm going to write it all down. Every penny. Really. Even if it is scary, I want to know. All I know is that we seem to have a mysteriouos aflliction that sucks money from our account into unknown voids.

Wish me luck as I go into this strange new place of financial realism. Anyone else wish to share their experiences of getting the real, hard financial picture?

Kelly

[spotty_dog]

I'm doing it. It's illuminating. I am primarily focusing on decreasing my food bill (though I'm including all non-essential expenses -- I figure leaving the utilities bills and stuff in Quicken is OK). So I made an Excel List with columns for date, category, and amount. I am logging everything, including trips to the vending machine. I also break down my grocery bill into food, beauty, pets, and booze. It's not too time consuming, and it's crazy to watch the $$ add up. I'm so aware of where I'm spending money, and even though I think I'll quit this little experiment when DH gets home, I'm pretty sure the mindset will stay with me for a while.

In particular, comparing two weeks of expenses to my most recent semimonthly paycheck (which had 2/3 withheld for various reasons) was downright scary. If we didn't have savings to buffer these shortfalls, we'd be using credit cards as our buffer -- I empathize much more now with those who must rely on the latter.

[SuzySunshine]

Kelly, I did this at one time, you'll be AMAZED! Good luck!

[SueC]

Good luck Kelly, every budget person you talk to says that is where to start, so it must be very telling. I tried it once (I even picked Feb. since it is the shortest month) and I lasted less than a week. Maybe I should try again...

I love that you picked February b/c it's the shortest month. That's awesome. Maybe I'll start a diet in February.

Yes - you're supposed to do that, but I never have (along with all the other financial "goods" that I haven't done). Rather than marveliing at how much is going out and making the appropriate changes, I would have just gotten depressed and eaten a pint of Ben & Jerry's. Maybe my new financial planner will kick me in the butt sufficiently that I'll turn a new leaf.

Good luck Kelly!

Go, Kelly!

It really helps but was hard for me to do, partly because it felt tedious (initially) and the "OH , we spent that much on...dogs?" sort of thing. It will be worth it -- it allowed us to come up with a more realistic budget and we went to a mostly cash system for a while. I could probably stand to do it again!

Good luck!!

[SueC]

Okay Kelly--did you do it???

[Meenah]

I avoid financial reality at all "costs"!!
Luanne

Me too, Luanne.

At my house growing up, we used the term "financially embarrassed".

[SueC]

Ours is fiscally irresponsible, which we are!

[houseelf]

sheepishly answering.

I did this for a day or two and quit. It just made me more stressed out. I like living in denial. It brings me great comfort.

I will say that I have drastically reduced a lot of the fluff: books, magazines, eating out, coffee, etc. So I am going in the right direction, does that get me any bonus points?

Kelly

[spotty_dog]

I went over my food budget after about 3 weeks and quit logging my expenses.

I think just being aware of spending money is a good thing.

[Laker]

DW and I haven't stuck to a budget yet. I am thinking we might have to as soon as loans enter repayment.