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DH says everybody keeps track of their finances by logging receipts

(371 Posts)
shewhowines Wed 06-Nov-13 08:45:58

After another long night of DH huffing and puffing "doing the finances", we had the age old discussion of him saying he needs to, because that is the only way and most people do it like that (his mum does), and me saying 90% of people don't do it his way.

He makes me keep every receipt and he logs every single item we buy, on a complicated spreadsheet. He uses this to forecast our expenses so that he can transfer money if necessary. Can I just add, he is not controlling as to what I spend. It's just if I spend it, or get money out, I must keep the receipt. The system obviously works, but it is sooo time consuming. I wouldn't mind, but then I have to put up with him moaning.

I say that most people work retrospectively. They scan through their credit card bill to make sure there are no errors, and correlate this with their bank statement. Money can be transferred if necessary, at that point.

I am right aren't I? Nobody keeps their receipts and meticulously logs every bloody transaction.

CMOTDibbler Wed 06-Nov-13 08:49:05

Nobody I know does this at all. If money is really tight, they might take the money for things out in cash then put in separate tubs so they have a hard stop, but a spreadsheet?

spritesoright Wed 06-Nov-13 08:53:20

I've always thought it would be interesting to see where all our money disappears to but we don't spend beyond our means. So no, we've never logged receipts. Sounds like a big FAFF.

Bluecarrot Wed 06-Nov-13 08:54:42

Seems a bit anal to me. Though I do write down what I spend in a notebook ( its as specific as £50 tesco food, £10 tesco gifts... Etc.). DP hates me asking him to write down what he spends.

I'd say that the majority of people don't have a clue what they spend.

Squitten Wed 06-Nov-13 08:54:55

Oh goodness no! Online banking keeps track of what leaves the accounts - don't feel the need to track minor cash purchases beyond that.

sussexmum38 Wed 06-Nov-13 08:55:55

I wish we were more careful but that would be a nightmare and tend to work retrospectively.

Astarael Wed 06-Nov-13 08:56:15

I don't do this - and I'm an accountant! grin

shewhowines Wed 06-Nov-13 08:58:00

You are right. It is a big FAFF. Last night he was knackered and grumpy. He was moaning he never has time to himself. Well, change the system then, and do what normal people do...

silverten Wed 06-Nov-13 08:58:33

Ooh spooky. I've just started a thread in chat wondering if anyone uses an app for this.

I use a couple of spreadsheets to keep track of commuting and child care costs. I do find it useful to know how much I'm obliged to spend, for budgeting.

The logical extension, particularly if you need to cut costs, is to first see where your discretionary spending goes- then you can identify which bits you might trim.

But I am a massive geek for this sort of stuff.

Joysmum Wed 06-Nov-13 08:58:51

My dad and in laws did. Because of that they all are fantastic with money and are well off compared to others with the same incomes.

Hubby and I don't, we spend what we want and spend more when we have more. Mind you, money isn't tight for us as it was for our parents.

BiddyPop Wed 06-Nov-13 08:59:38

I don't keep every receipt or log every transaction. But I do have a retrospective and forward looking spreadsheet, where I make a budget, and amend that as I go along, and add in transactions on my current account. But often correlating the actual statement (from online banking) as much as receipts. Half the time, ATMs don't give receipts anyway here.

An I certainly don't add in cash payments, they are seperate.

And duchies is only on my account so I can personally keep track. DH ignores his until statement comes in post. He used to check receipts against it but not for e past few years as there were so few mistakes it wasn't worth it.

Boaty Wed 06-Nov-13 08:59:49

I know someone who logs everything..not in a spreadsheet but manually in a notebook.
She is far better with money than me, I often wondered if others did it and that's why I'm always skint!

FriedSprout Wed 06-Nov-13 08:59:56

My dh does this with his money. I don't do it with mine.

Guess who has savings if things go wrong, is never taken surprise by a bill and does not have overdrafts or debt. That would be my dh then.

I have not got the discipline, time or energy to do this - he makes time

But my dh is NOT normal, most people don't do this grin

Sunnymeg Wed 06-Nov-13 09:00:41

I use a phone app and enter the amount spent whilst in the shop, easiest way I have found to do it,

silverten Wed 06-Nov-13 09:00:48

(I think you're right, by the way- most people don't do this)

But I think he has a bit of a point too- if you find out where the money goes, you can save it a bit more easily...

BoohPear Wed 06-Nov-13 09:01:39

My mum and dad have a book which they log all purchases in. Me and DH just look online every few weeks, never log anything!

Morgause Wed 06-Nov-13 09:01:47

My Dad did this but he'd be 110 if he was still alive. No one else I now does it.

silverten Wed 06-Nov-13 09:01:56

Which app, sunnymeg?

MaidOfStars Wed 06-Nov-13 09:02:39

My parents keep a vague list of spending. I never do.

Lancelottie Wed 06-Nov-13 09:02:42

I know two people who do this, and one of them is my mother.

LifeofPo Wed 06-Nov-13 09:02:47

Message withdrawn at poster's request.

bamboobutton Wed 06-Nov-13 09:03:29

i have never done this. nor has anyone in my family. nor have my friends. nor has dh. nor has any of his family.

we keep track of food, rent etc but not to the extent of logging every receipt. bizarre.

your dh sounds a bit anal.

AnnieLobeseder Wed 06-Nov-13 09:04:26

Good grief, what an awful waste of time. Does he know you can download all transactions in spreadsheet form from most online banking websites?

And no, most people don't do that. Life is way too short.

ICanSeeTheSeaFromHere Wed 06-Nov-13 09:04:29

We have a log of all monthly essential spends such as household costs, motoring, commuting, supermarket, savings etc then we know everything left over is available money. I am lucky if we can find a receipt to exchange something!

Beavie Wed 06-Nov-13 09:04:58

I know one person that does this. But everyone else I have ever met doesn't. Yanbu.

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