Tips on keeping track of cash?

Discussion in Off Topic Discussion & General Questions started by FlipKup • Jul 29, 2012.

  1. FlipKup

    FlipKupMember

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    It seems that no matter what, the money flows freely from my pocket. Can anyone offer me any tips on preventing that from happening? I've tried making a budget, but I just can't seem to stick with it - I am constantly buying food and random things which I do not really need. It would be much appreciated if someone could share their method of preventing themselves from spending too much on unnecessary items?

    And yes I admit, I have a spending problem!
     
  2. Jennifer

    JenniferActive Member

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    My advise if you want to save money just stay away from the shops! Seriously though, when you do have to do shopping make a list and stick to buying only what appears on your list. I find what helps me not to over spend is to pay with cash. It is so easy to over spend if I pay with a debit card, but if I pay with cash I physically see my money disappearing and most of the time I will think twice about buying something. To curb over spending is not an easy thing to do so good luck with your efforts.
     
  3. Adeal4u

    Adeal4uActive Member

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    I think you should keep your money in a bank account. That way it's out of sight out of mind this will decrease your spending. The only reason you're spending so much is because you can see the physical money. I always keep my money in a bank account or on a debit card. I refuse to carry around cash if I don't have to do so. Tell yourself that you're not going to spend anymore, and don't go online or in stores if you don't have the money.
     
  4. Sugarhill

    SugarhillActive Member

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    Just get a money application for your phone and list the account as cash. Then, track your spending so you can see where the money is going. When you actually see what it is you are spending it on, you'll become a little more conscious of it. Start with $50 in your pocket and see how long it takes for you to spend it. That should slow you down if you aren't satisfied with what you see when it's all gone.
     
  5. ssamcd

    ssamcdMember

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    If you have the extra money you will spend it. It is a habit to spend money. You feel good after you do it. It feed a desire inside you you have. You probably do not even need the things you are buying. I also use to spend money like crazy. Now I have to watch my pennies. I see now how much money I have wasted. Why don't you try for one week to list all your necessities and see how much it costs. Tell yourself you only have to do this, this one week. Pretend you do not have the money. See how you do. Post back and let us know how much you saved. :)
     
  6. FlipKup

    FlipKupMember

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    Interesting, I might try it.

    I'll horde all my receipts and check out all those unnecessary stuff that I buy. It might help, and open my eyes!
     
  7. Parker

    ParkerWell-Known Member

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    I was going to suggest keeping a journal of what you are spending. Write down each and everything thing you buy even the small items. Not only will this help you track where your money is going, it will stop you from spending because you'll have to write it down. Sugar provided an excellent tech solution.
     
  8. Linky

    LinkyExpert

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    You need to be fully aware of what you are spending so like others cleverly recommended: keep a journal, hold all receipts and make a list of long term goals. Also, practice discipline...and ask yourself what you need now...and what you may need more in the future. A friend of mine had to go to a couple of sessions of therapy. Chances are you need to work on your relationship with money. You'll work it out just do not give up.
     
  9. leyash

    leyashActive Member

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    I put the cash in an envelope. From there, I put it in a cabinet, and I don't move it. Also, if you sest yourself a budget for each day, and don't go over that, it helps keep track of cash. Otherwise, it just gets spent, and it's gone.
     
  10. inb4

    inb4Member

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    I have a simple formula that always works for me.

    Put the money you need to spend on necessities in one pile. Take a little out for free spending. Put the rest in the bank.

    Ta-dah! That's how I manage my cash.
     
  11. beckyv1265

    beckyv1265Active Member

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    I only carry cash and use it to spend on my budgeted items. I find that if I take a limited amount of cash to the store than thats all I have to spend. It really makes you calculate what you are spending and make sure you don't over spend. If I used a debit card than I worry less about not having enough at the registar.
     
  12. sarahlou773

    sarahlou773Member

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    I have the same problem with spending too much and not really knowing what on so this is excellent advise! Thank you.
     
  13. Lena51

    Lena51Active Member

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    The best way I keep up with my money is the old fashion way. For example, if I have to pay the bills, I do it this way, I put the total amount of money into my envelopes. Then I get a receipt for each and put them together. The money that I am going to spend is seperate and then I keep receipts for that and at the end of my spending I add up all receipts and count my change, I know where every penny went to and I am happy. When I need to cut back, I'll say I don't need this or that and get on with my day.
     
  14. Nick2011

    Nick2011Active Member

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    Sorry bro can't help ya. I live in NYC, there's never a day when I leave the house and don't see something I want. Usually, it's fast food or a new DVD. During the Summer time, it's sodas, ice teas, lemonades, or those freezer drinks like coolatta's and stuff. I just bought $400 worth of basketball jersey's the other day. And before that, spent $500 on giftcards as an early Christmas shopping spree.
     
  15. Livvi

    LivviActive Member

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    I have this problem too and I am trying to rein in my spending now. I don't splash the cash, I just never seem to have anything to show for it so I have started keeping a track of my spending. I use the free money program that came on my computer - but you can keep it in something as simple as a notebook.
     
  16. ACSAPA

    ACSAPAWell-Known Member

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    I used to spend freely when I was in my 20's and now that I'm in my 30's and a parent, I wish I'd saved something because I have nothing to show for all that money I spent in my 20's. Now I'm careful with money out of necessity because I have rent and bills to pay.

    Maybe you need to focus on some kind of goal for the future so that you'll have a reason to save your money. I know a guy in his 20's who bought a house because he started working when he was 15 and saved enough money for a down payment. You don't reach big milestones like that by spending money like water.

    Maybe you need a purpose for saving that is bigger than all your small reasons for spending.
     
  17. owesem75

    owesem75Active Member

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    I've installed an iphone app called CASH TRAIL and this is what I used to keep track of my cash. In addition, it allows me to monitor my expenses, record savings, recurring expenses, and monitor credit card debt. This app is very helpful as it offers multi-currency functionality. It also creates reports at the end of the week, month or year. Most of all, its easy to use.
     
  18. gmckee1985

    gmckee1985Active Member

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    Yeah, I definitely didn't handle money as well as I could have in my early 20's. Wish I did because I would have had a lot more money built up by now. I think there needs to be more of an emphasis on saving and investing in high school. I think it's an overlooked aspect of a real world education, because I lot of folks seem to have trouble managing their money and many people don't have anything saved up.
     
  19. preacherbob50

    preacherbob50Member

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    The absolute best way to keep track of cash is to go on social security. You get a lump sum once a month, and the day after you get it, it's gone. Nothing much to it. It's kind of like having a pet. If you do not have one, no need to try to keep track of one.