Breaking Down and Tracking 2007 Expenses

My Two Dollars linked to a great article called the ‘Best Money Saving Ideas of All Time.’ After reading the article I’ve decided to take a stab at Money Tip #1: keep a daily log of everything you spend.

With the start of the new year I’ll track each and every purchase I make. I bought a tiny, (purse friendly), little notepad and pen for the purpose of writing down my daily expenses. I’m hoping I’ll write down my expenses for the whole year, but for now I’ll aim for thirty days, since that goal seems much more reachable.

My husband does a great job of tracking our credit card expenses. When the credit card statement arrives he categories each purchase so that we can determine exactly where our money goes. But since we have a joint credit card it is difficult to distinguish his purchases from my own. Also, I often make food purchases and other small item purchases, (less than $5), with cash. Obviously these aren’t accounted for in my husband’s spreadsheet so it’ll be nice to see just where all the money goes.

This year my New Year’s resolution is to spend at least 15 minutes a day doing something I truly enjoy. To ensure I remain true to myself, I’ll be documenting how I spend the 15 minutes each day. I bought a special little notebook to record my daily activities, so it seems fitting that now I’ll be tracking my daily expenses in it as well.

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