Keeping track of all of your expenditures...

Does anyone keep a tight record of all of your expenses? I just finished up tallying all of my expenses for the year, by the month. SOme of my expenses are lumped together like Hunt/Fish/Trapping/Tanning. Most things are single entry, like Food... for the year 2020, I spent $153.80 a month for food. That averages out to $4.88 per day. That includes if I go out to eat. That includes all spices and other condiments. I usually eat once a day with a snack in the evening of ice cream or something like that.

I also have gasoline for vehicle, which was $18.80 per month. I got an $11.70 raise per month from Soc. Sec. this year so, I can live a little higher on the hog.

Garry-

They will suck that $11.70 back through Medicare ASAP.

As long as I got as much as or more coming in than I do going out every month I dont worry about nothin.

I need to keep tract but don't. I know I spend more than that on gas. Closer to 120 a week in my truck. Another 70 a week for the tractor and mower in the summer. I'm not sure what goes in the wife's SUV. Over 15k in farm expenses it looks like last year. But I made 11 of that back and those projects and equipment will last years and make me much more in the long run.

Honestly I may be better off not knowing.;)

Bingo Boco. Not bragging or complaining but because of the business Im in, I've spent a lot of time with some of the wealthiest people in NA over the last 40-years and I've heard many say that more coming in than going out is the key to being financially stable.

I can only dream of spending 20 bucks a month on gas. but if a month is only 2 days long then I'm good to go .
Key factor that the Dragon's Dens and Shark's Tank financiers is knowing the numbers, backwards and forwards when asked, that gets their attention in who is in front of them in the pitch.

I have to keep a tight record cause in a certain IRS phone call, said where did you make all that money ?....trapping....(and the eastern accent said)...you kill animals !

I agree with you guys, but you have to know how much is going out, to know if it's less than coming in. It pays to be fairly aware, and the closer the margin is the closer you have to pay attention.

I keep pretty close track Actor. The wife and I have done quite a bit of budgeting over the years, re-evaluating when things change. I believe our groceries are still about $400 a month, which I consider pretty decent with 2 toddlers. I know exactly how much I spend on fuel because I use the Fuelly app, which tracks my mileage as well as spending. Between 2 cars we spend $360-400/month on fuel at current prices. Everything else is pretty consistent bills. No matter what my income is, it's good to know what my break-even point is.

Doesn’t your bank send you a summary?

$18.80 a month for gas? Wow approx 8 gal. I use more than that a month in my 4 wheeler, sled, or outboard. Couldn't go to far on that. I don't keep track as long as I can pay the bills and go hunting fishing trapping and save a little.

Not when you pay cash

Yes I do , A.D.C. business and supply business.
Down to fur trapping, also buy some carcuss fur.
Amazing how it all add's up.

Uncle sam knows all

I eat once a day too, 6am to 6pm roughly.

wife keeps track of it all, every penny that isn't cash and she knows how much cash I take out also just not what it got spent on.

we had a new high grocery bill for one trip to the store in 2020 800.00 it was two weeks for the week of Christmas and new years.

stock up on a few things and buy some meat and the bill gets high quick.


if I lived alone , I would eat perpetual stew a lot most every time I got hungry. it would be hot and ready to eat . my family doesn't like perpetual stew

I run a small construction company and a property management business. So I track every penny in and out of my business accounts.

My personal accounts jointly held by my wife and I, not so much. I just shovel money into those black holes.

I love the price of fuel/alcohol in the states, I never wanted to come back home.
I'm in Australia and costs me $200 a week in fuel to get to work and back also we now have one of the highest taxes on cigarettes in the world, currently around $50 for a packet of 30s or $55 for 25 grams of tobacco, also one Duke trap costs me around $100 and it's around $60 for a single #3 bridger, then I upgrade all the springs etc which adds $24 for 4 coils.

Yep, that is the only accounting I do also. To me I don't care where it goes and spend where it makes me happy and don't worry about money.

Been accounting all expenses on a daily basis since age 18.

I spent avg $808/mo on groceries in 2020. These kids eat a ton of food!

Its kind of depressing when you start adding up all of your normal monthly costs and compare it to whats coming in.

Heres a list I started if anyone wants to start a budget.

House Payment
House Insurance
Car Insurance
Boat Insurance
Umbrella Policy Insurance
Life Insurance

Property Tax

Medical Insurance
$10 Co Pays (Monthly)
Dues

Grocery Week 1
Grocery Week 2
Grocery Week 3
Grocery Week 4

Eatting Out Breakfast
Eatting Out Lunch
Eatting Out Supper

Car 1 Payment - F-250
Car 2 Payment - B2500
Car 3 Payment - Trailblazer
Car 4 Payment
Boat Payment
Tractor Payment

Gas - Trailblazer 75*4
Gas - F-250
Gas - B2500 40*4
Gas

Oil Changes

Hair Cut

Netflix
Amazon Prime
Movie Rentals

Clothes and Shoes, 4 people

Cell Phone 1
Cell Phone 2
Cell Phone 3

Home Phone
Internet Service
Long Distance

School Loan

Banking Fees

Electric
Propane
Natural Gas
Trash - Rumke 91.11 / 3
Cable TV
Dr Bills (Monthly Avg)

Dog - Vet 300 / 12 * 2
Dog - Food

Dave Ramsey's Every Dollar app works well.

Have to pay for it if you want to connect it to your bank account though. Pays for itself when you realize how much you spend on gas station food and drinks.


Mint also works well and is free.

Thats actually pretty impressive....be neat to look back after many years and see the differences. Kudos to you

I do it too. Not back that far though. It's easy habit to form and takes almost no time at all to update few times per week. Started when i was trying to save for a house downpayment. Now that I'm aggressively working towards early retirement, ill keep it going indefinitely.

Thanks midlander, It has allowed me total awareness of balances, and incoming expenses over the years...Retirement is in 22 months, and home, property, vehicles, along with everything else is paid for, with no debt.

Anyone can do it, all young people should be taught to be financially responsible.

Dave Ramsey's plan is a solid plan in simple steps. Big thing is get out of debt and stay out of debt

Actor: you must eat like a Robin and not go anyplace. JMO

You have got that right... Don't owe anybody anything, don't have any dependants, don't go any place, don't eat out... eat popcorn 2 or 3 times a week ofr my meal... etc. etc. etc. I live the life of a hermit. Covid has sure helped me follow this life style.

Garry-