Press "Enter" to skip to content

Track Your Spending Using Excel How to Stick to Your Budget

Track Your Spending Using Excel How to Stick to Your Budget
Track Your Spending Using Excel How to Stick to Your Budget

pTrack Your Spending Using Excel How to Stick to Your Budgetp phello and thank you for joining me for another article for this article I wanted to talk about something thats really important to me and I hope will be important to you by the end of this article and its something that I never used to do for years and looking back and Im really regretful that I didnt especially in my university days but especially throughout all of my 20s and what Im talking about is tracking my spending I know it may sound kind of corny but tracking my spending has actually kind of yeah changed my life I know super corny but it really has so let me give you a little you know lets go back a little bit I never used to track my spending I always had a budget and yeah Id look at my credit card statements and my you know of bank accounts and try to you know figure out how much cash I would you take out of the ATMs but I didnt really have an idea of how much money was really going out I had an idea but not a specific number that I could be like thats how much now when I decided to go selfemployed last January one of the big things I really wanted to do was become very very organized with my business and my business expenses thats the one thing that I actually did do pretty well was when I had a side hustle that was actually kind of generating some income I would be meticulous in tracking all of my expenses for my business because I want to make sure that I can use those for business expenses when it came back to tax time now you would think that if Im so meticulous with tracking my spending for my business I would just naturally do the same for my personal finances no I was just I dont know lazy I didnt think it was important I was afraid that if I tracked every single dollar Id be like one of those crazy coupon ladies whos like obsessed about getting you know free soap I dont know I had all these reasons for not doing it so I didnt do it but when I became selfemployed I wanted to make sure that I didnt just track my business expenses I would also track off my personal expenses and so did my husband and so what we did was we took a good look at our budget we made a couple extra cabs on that budget and one that tracked our personal expenses so tracking for me tracking for his individual expenses and then tracking for our joint expenses so that is what weve done for the past year and it was actually a pretty interesting experiment to see whether tracking our spending this way would a be as horrible as we thought or as effective as we with the hope it would be and we were pleasantly surprised in that yeah it really really really was effective in giving us clarity with our money and also help us not overspend so that is why Im kind of a bit preachy about you know tracking your spending because it really did help me in my husband with our personal finances so I feel like it could probably help you too so that is why I feel like if you do not do it now give it a try try it for like one month three months go a little crazy do it for a whole year or forever and see how it affects you does it really is it really so painful or does actually kind of empower you I mean for me that is thats why I use that word empower I felt empowered I felt like oh my gosh I know exactly whats going on with my money theres never any of those oh I thought I was doing so well but then I had this really big credit card bill I dont remember doing all that and then I got a freaked out and I realized yeah I did spend all that money tracking my spending would really give me that confidence that know you made those choices and if youre not okay with those choices for next month make different choices Im going to chat a little bit about how I actually track my spending and it really has nothing to do with like getting all of your receipts and a pen and paper and running all that down because who has time for that I certainly do not honestly tracking my spending probably takes 30 minutes a month and the reason is is because I generally dont use that much cash but when I do use cash I do make sure to kind of note it down either in an app or a piece of paper so we do kind of have that information with me but in general when I spend money I use my debit card or my credit cards so when it comes time to figuring out where to money go every month I could just look at my statements or you can just go into your bank account and theres usually a button thats like download to excel all of your expenditures so that is what I do I just hit that download button then I copy and paste that information into my own spending tracker and then I kind of categorize and make a little bit a little nice but it takes me maybe 30 minutes to get it all sorted and then I have a clear idea of whats going on and so whats really cool about doing it for an entire year is you have an idea what happened during that year where did all that money go and that is really cool because then you can kind of take a look at is my spending really what I thought it was and also does it have a really good reflection of what my personal values are so I kind of talked a little bit about that valuebased spending idea in my last article which I will link in the description but basically its just the idea that you shouldnt feel ashamed or guilty about spending your money but you should be more cognizant of what youre doing with your money and whether it is a good reflection of what your values and your goals are if youre spending money on crap that you dont need it doesnt actually make you feel good after the fact well thats no good you want to make sure that youre spending money on things that bring you joy for you happiness and feel fulfilled so if you want to get started with striking youre spending like me I have a very easy way to do it you can just download my free budget spreadsheet which comes with a spending tracker its a very simple spreadsheet but itll help you get started customize it however you like but Im also Im also gonna do something really crazy right now is Im going to give you an inside look on literally what I personally spent this year welcome to my spending tracker this isnt exactly what my spending tracker looks like I take out some important and private information since I am sharing this on YouTube but this is a pretty much what my spending tracker looks like I have it in Google Docs I used to have an Excel spreadsheet but now that me and my husband budget together we find it easier working on a Google sheets so thats kind of where weve put all of our information at the top here I have all the totals and all the categories of what my spending is it will kind of look more into that a little bit later but I make a very simple literally I just go into my bank accounts and my credit card accounts download the expense list that they have provided and then I copy and paste them into this because I like it its pretty and its nice and organized and I also divide all of my spending into fixed expenses and variable expenses I keep their descriptions just so its just a bit easier but I have my own categories and I just like put them in this little dropdown and then choose whatever category that that thing is so for in general I dont really have that many fixed expenses its usually just my phone bill and then my variable expenses and again I think I explained fixed expenses or expenses that you can expect and you know every single month on a regular basis and usually the price or the cost rather does not change so usually my phone bill doesnt change that much variable expenses are expenses that go up and down so like eating out groceries personal care never the same amount every single month so they are variable so in general youll kind of just see what my spending really is is a lot of eating out and a lot of buying wine Im sorry thats just what I spend my money on apparently and as we kind of go throughout the month again just my phone bill here weve got a lot of dining out okay and groceries a little bit okay lets see what we did March phone bill oh my gosh I like to eat out a lot and a little bit of a Roger or uber I did kind of go a little crazy of the ubers of March and here we go a lot of groceries and a lot of take oh it looks like I did like wow I didnt like the house in April apparently good for me May okay phone bill a lot of tail oh my god and it keeps going and it keeps going yeah so we spent a little bit of a money that one um June okay I did a little bit better I get ECI and this is kind of what I want you to see too so April I like didnt spend any money in May and I know Mei was just a crazy month for work and so as I get more stressed and more busy thats sometimes and something I have to work on I spend a lot of money I make an excuse well Im too busy to eat in so Im gonna take out and all that kind of stuff but then because Im tracking my spending I realized what Im doing and I try to fix it I tried to do better at the following month which I did and this month and this was a good month because this is when I was working out all the time I really didnt eat out and yeah the only stuff I bought was you know some clothes some fitness um I think protein powder and we you know went to Montreal so theres a bit of a travel food now alcohol and stuff like that now in July it was pretty okay some take out some personal care stuff okay okay August here we go theres a couple things not too too bad September here we go okay usual suspects some Beauty some food and October oh yeah it wasnt too crazy on the personal front it was on the business front Ill tell you I did the money 2020 payments race I was crazy so I did pretty good November okay I spent a little bit of money in November and it looks like a lot of buying some clothes I guess I went a little shopping shop and finally in December how did I do the last month out of 2017 ah I didnt do so good I spent some money I think I spent some money on some gifts I treated myself to some clothing and some makeup I made a charitable donation thats something thats something but in general I I drop some coin thats for sure so lets go back up to the top real quick and this automatically kind of I just have a certain algorithm that I just googled and figured it out but basically I categorize everything and it just totals it at the top so I can see what Im spending the most money on and see if its a shock or not so cell phone bill I guess its not super shocking I didnt have the cheapest plan was like 70 or 80 bucks in general luckily though I will be able to claim some of that on taxes cuz it I do use it for my business as well second I was clothing which is surprising cuz I I feel like I dont buy that money clothes like I really feel like I dont have that many clothes well the numbers are indicating I spent 1, 300 in clothes when and thats probably not even a high number depending on if youre looking this youre like thats nothing but for me thats like a surprising number for me um next beauty makeup like I feel like I dont even spend that much money on makeup but to the tune of 1, 200 again I think what I also include I dont know I dont I was gonna say maybe it includes my hair it doesnt its just makeup okay well Im gonna have to really look into what Ive categorized is beauty and see if Im spending it on crap I dont need takeout okay 624 dollars thats thats kind of a bit much for someone who works at home and literally could just make all of her meals at home gifts thats kind of normal thats fine personal care other gonna have to find out what the heck that is its a mystery public transit okay thats not so bad dining out so its a bit different than takeout its like going to a restaurant only three hundred dollars again that does not include times and Im with my husband when we put it on our joint credit card so just I do eat out a lot and thats its something Im trying to work on alcohol for myself thats not too bad charitable donation thats not that bad I mean thats good I mean I should be donating more actually right um Roger which is basically like uber and stuff like that okay I 200 its not the best everything below yeah okay not not too crazy so I am actually a bit shocked by these numbers so Im glad that I did track by spending because it really did show me that actually some of my spending is not going to force my values I honestly do not care about clothes I dont really care about makeup either I mean I do like getting quality makeup but Im surprised by that number Im gonna have to dig deep into what Beauty really is is that just makeup is that like also Shemp who or what but anyways I have all the information here so luckily Im able to actually find out what I did spend that money on what does Beauty mean and why they spent 1200 on it so anyway so this is my spending tracker I hope you enjoyed it so that is what I spent this year of course this doesnt really include my business expenses my joint expenses or my husbands expenses but this gives you an idea of like what on a daytoday basis what do I spend on me personally so that is what I spent I hope you enjoyed it because Ive never actually revealed anything like this ever anywhere so there you go thank you so much for watching this article make sure to LIKE and subscribe and let me know in the comments whether you track your spending whether you like it whether your I hate it whether you think its a totally dumb idea whatever you think Id like to get the conversation going and see what other people do like you to kind of know whats going on with your money so thank you so much for watching and Ill see you again next weekp

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *