Hello Gary,
I am trying to keep track of every
expense and I'm doing pretty well so far. However, I'm having trouble
finding a location to put all this information. I was trying to
handwrite it and it seems like I have so many categories. Do you have
a free or inexpensive computer program you'd suggest? I don't have
Microsoft Office, I use Open Office. I can't really afford Quick Books
either.
Marti
Marti,
Good question. I was working on that right now. We'll have a page for the cash expenses soon. We'll be recommending the following systems for tracking:
Paper and Pencil Tracking - just keep a sheet of paper in your pocket. Make columns for date / amount spent / store / item purchased / category of expense. note: we'll have a free pdf available shortly.
Spendtracker - A pocket-sized electronic device to help you keep track of your budget in real time. Exclusive Dollar Stretcher member discount: $5 OFF. (use coupon code: STRETCH5).
mVelopes - An award-winning online envelope money management solution. Mvelopes takes an age-old principle and applies it for today's cashless world.
Quicken Online - See all your bank accounts and credit card balances in one place on your computer and on your mobile device - for free.
As to categories, if you have too many just narrow them down. Any category that only has a few dollars in it should be grouped with another category. The goal isn't really getting detailed information. The goal is to know where you're spending the most dollars, so you can determine if you're spending the right amount or too much. If done right you'll be able to use it as a management tool.
Gary
note: Marti is asking about our program to help you set and achieve your financial goals called "Financial Independence". You can learn more about it here.
