Friday, January 30, 2009

Tracking My Savings and Incoming Money

A while back, one of my readers asked me how I tracked my savings - so here it is.

I use two Excel spreadsheets, designed by my husband to track my savings and incoming money. This is my 3rd year of tracking my savings and I have perfected my system over the years. This final system is my end result and the one I have used the longest - for about 6 months now. I do try to keep it as simple as possible - while tracking my main interest.

If you notice below, I print the spreadsheet out and track my savings by hand writing the amounts, instead of entering them on the computer. Some might wonder why I do this, especially sense the spreadsheet will total the columns for me. I am just a hard copy gal. I keep both these sheets in my filing cabinet by my desk and I can pull them out in a second when I need to. There is something about writing the numbers in by hand that is exciting for me.

I know - I need a life.

So anyways, here is how I track my savings and incoming money:

Notice the sheet is divided in half by a dark bold line. The left side is my Spending and Savings - the right side is my Incoming Money. Starting with the left side, the way I track my Spending and Savings is by figuring my retail cost, savings, Extra Care Bucks, Easy Saver Rebates and the total I spent.

My Retail cost is just that - my total cost without store sale, coupons, etc.

My Savings includes how much I saved with store sales and coupons.

My Extra Care Bucks & Easy Saver Rebates are how much I spent using my Walgreens Gift Card or ECB's. Because I treat my ESR's & ECB's like grocery/household cash - I thought it was important to track these as well. Also, I was curious how many ECB's and Rebates I earned each month.

My Total Paid is my final cost out of pocket.

Now on to tracking my incoming money. I actually have 2 sheets I track my incoming money with, but they eventually all end up on one sheet. Let me try to explain. The right side of the one above is for any immediate money I receive through Pay Pal. This would include my eHow earnings, Associated Content Earnings, etc. I write down the amount and who it was from.

Now, looking at the second sheet below:

This is where I track all my awaiting money's. Any money where I need to wait 4-6 or whatever weeks for, I write it down here. This includes all Surveys, Rebates, etc. I write down who I am expecting it from, how much and the date I sent or requested it - then when I receive it - I write that date.

Simple enough, eh? Are you lost yet?

So at the end of the month when it's time to add up my totals, I go though and look at this second sheet and any money I received during the month I highlight it and transfer the total over on the right side of the first sheet. Then all my moneys earned that month are in one place and all I have to do it total them up.

That's all there is to it!

If you have any further questions or if you need me to explain further, let me know.


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Jennifer said...

That is a great idea! I am so disorganized when it comes to this type of thing. Oooh ok... when it comes to anything. :) I am really going to try to make one of these spread sheets to help me, but I am also terrible at using spread sheets! :) Thanks for sharing!