Do You Track Your Expenses?

I'm not sure about you, but I certainly do! In fact, I track my expenses to the exact cents and have been doing so daily for about two years. It was quite a hassle when I first started, but the habit eventually became second nature. Basically, I invented a system to track my expenses and followed through.

It all begin with just an app in my iPhone and now, I have my very own "data centre" which is a personalised spreadsheet in my google drive. So far, whatever I have is good enough for my personal usage and best of all, it did not cost me a single cent. Also, my system has helped me to stay within budget each month!

1) Pocket Expense Personal Finance(Apple App Store)
What I like about this app is that it allows me to set the date for my own "financial month" unlike some others out there. It is also loaded with a lot of features. Do check it out, it's FREE!

• I try my best to key in promptly for every transaction made(whenever possible)
• Transactions made will be categorised accordingly and given a short description
• Receipts(if available) are kept in my wallet for transactions which I don't have the time to log
• No time + No receipt = Rely on memory or notes HAHAHA(so far, very low tracking error)

2) Personalised Spreadsheet (Google Drive)
In addition to the app in my iPhone, I also use a personalised excel spreadsheet to track my expenses. It is uploaded into google drive for easy access and storage.You should try making one, it's fun.

• Less chance of being missing + 24/7 access as long as there's internet
• Transactions from the iPhone app will be entered here twice a month
• I do a quarterly review of my expenses with the data stored
• A copy is downloaded into my laptop every six months as a form of backup

A screenshot of my spreadsheet. The mouseover shows the description of a transaction.

Hope whatever I shared was interesting enough and would encourage others to start tracking their expenses.


Regards
The Frugal Mat