Track Your Expenditure

[davidogden]

The best tip on saving money I can share with you is to track your expenditure, I have been doing this for years, spend a little bit on some home accounting software such as quicken or Money and away you go.

Cash is the hardest thing to keep track of, so make full use of debit cards, I only use a credit cards for items where free insurance cover is provided such as travel and then always pay off in full.

Using a debit card to can quickly see the money spent of food, clothing, utilities, travel etc, and you feed this data into you accounting system

You can also add you bank accounts, savings ect and of course cash, now in the Phillipines cash is king, so often you will not get receipts from market stalls and small shops which means you need to check the balance your cash on a daily basis or at least before and after each shopping trip.

Entering the details into quicken helps you see your spending patterns and then you can start budgeting and planning. We made some interesting discoveries our food seemed to be costing more than we expected, so we looked more closely and realised when we went shopping at larger stores we also brought household goods, so we needed to start a new budget line. we also decided to cut down on meat and eat more local vegetable.

Travel by bus. or using a scooter is cheaper than using a car, unless more that two persons are traveling.

We still have some ways to go but expect to have our money back under full control for the start of next year.

[5525carin]

I agree that tracking your expenses is a great thing to do and should be done. Where I live though taking a bike to work or the bus or scooter is not an option. My husband works 35 miles away with no bus service. Also, there are not any bike paths out to the stores in my area or bus service for that matter. I can't even imagine a scooter when it is 15 below zero out. I do dream about a better future for these options though.

[lindsayhogan]

Great tips especially Credit Card one.

Surely going to follow it as nowadays "Money Mangement" is becomes most important inorder to survive perfectly and completely. Spending money haphazardly will proves dangerous for survival.

[abellasmith]

Hello friends.... I am agree with all of you... Money Management is the best way to track your expenditure... With the help of tracking system, we people know where we can save more.. I have an idea for house wives, we can do work online.... And makes money at home...

[nicematters]

I truly need to start tracking my expenditures! Money is tight and I should know where every penny is going- especially with all the holiday goodies just asking to be bought up!

[herrys]

Money or financial management is very necessary while traveling. Their may be conditions when you like to spend on the things which looks attractive. For that time you have to plan your financial position and allocate certain amount to shopping. Secondly, An advance booking of transport tickets and the other hired things you like to opt at your travel destination would help you to save money. Yes, as said above finding least expensive transportation can help you to save a large amount of money .


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Backpacker Travel Insurance

[blessings2all]

Is there free software available that you can use to do this?

Many blessings,
Susan

[Curlyme]

I do list my expenditures too, its hard to keep track if you are only using your memory. This also lets me see if I earned enough or did I just over spend on something I practically don't need? Tracking expenses has its advantages so there is no reason not to do it.

[Twilightprincess]

I agree, I track everything too and see where things can be cut

[ReneeBrown]

Originally Posted by blessings2all

Is there free software available that you can use to do this?

Many blessings,
Susan

Susan checkout http://www.mint.com I have been using their free tool for the past few months and find its excellent, even have the app on my iPhone! Great for budgeting and tracking expenses.