DH says everybody keeps track of their finances by logging receipts

[shewhowines]

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.

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?

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.

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.

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

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

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

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...

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.

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.

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.

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!

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

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

(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...

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!

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

Which app, sunnymeg?

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

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

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.

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.

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!

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

we have a spreadsheet.

Money is just tight for us so we sit down at the start of each month & budget our income for that month (ie x amount for gifts, x amount dc shoes, x amount petrol depending on what's happening that month). Then as we spend we put in the actual amount spent for eg petrol from our online banking.
We also use the cash in envelopes system for certain things like social budget/household items so we don't overspend.

Are we weird then?