An honest look at family finances
10 Feb
I know I’m late updating my monthly budget for the project over at Finance for a Freelance life. Here is the money that has been spent so far in February. Some bills we pay at the end of the month that are actually for the month coming up. For example, the mortgage. We paid February’s mortgage at the end of January. I’m going to record the money that actually comes out of our checking account during the month of February. So you won’t see bills like the mortgage be recorded until the end of the month. I hope that all made sense.
Anyways, here is how we’ve spent our February money as of 2/08/09
Groceries: $109
Eating out: $93.44
Gas: $40.43
Household stuff: $22.55
Birthday gift: $17.24
Credit card payment: $120
Electricity: $178
Car Insurance: $129.98
The category I’m most interested in seeing is the eating out category. The way we have our budget set up normally “eating out” comes out of a few different categories, depending on the reason for the eating. If we go out as a family then it’s one thing, if my husband gets lunch at work or I stop for lunch with a friend, then that comes out of our personal “allowances”. So I don’t really know the exact total that gets spent at restaurants.
Also, groceries includes paper and cleaning products. Household includes other house stuff that they don’t sell at the grocery store. Like my husband bought a tool, that’s included in the household.
pic by: zzzack
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2 Responses for "“Where’s my money going?” month"
You might consider breaking down your grocery spending into food, household, pet, personal care, etc. It’s extra work but the resulting info is very worthwhile. These same categories work for drug store, department store, Target, Home Depot, etc. also.
I’ve found that tools like Mint and Yodlee Money Center do a great job of helping people figure out where their money is going, especially if they’re disorganized. I’ve got fancy excel budget, but a lot of people just aren’t that organized…these tools are definitely helpful.
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