Sort-of-New-Year resolution: Expense logging

Manju's standard reply every year is 1024 x 768. Which I adapt after I have seen his.

Otherwise, I think I can make this my New Year resolution: logging every expense on an Excel sheet.

I've been doing it since the mid of Jan, and you won't see it until you feel it. There are multiple entries, but none so costly requiring a 'cut' in expenses. Yet the month end balance is large.

I try to be as deep in details as possible: every receipt is reproduced, with items' weight/volume and price noted, ensuring a price per weight column helping to compare similar products from two retailers.

Just looking at one month's total is scary enough. I highly recommend it for anyone. No point of complaining of lack of time: it's just a matter of remembering to enter all expenses, you can do it while say watching a movie.

This is not exactly a budget excel sheet: it is just an expense sheet for comparisons. The expenses can always be tallied with a credit card statement or a bank statement, but if you are thorough it won't be necessary.

In fact, I challenge you. Keep it for atleast one month: each and every paisa or penny spent, note it in Excel and add it up for the month. It is the middle of the month, doesn't matter at all.

I can tell you one thing: You will quiver in your feet. It also helps compare prices over time: I have noticed that some items have decreased in price dramatically, while others have increased a bit. This will prove to be a brilliant historical archive too - 5 years down the line you can track inflation on your own or brag about the intricate pricings of a bygone era.

There are several online expense tracking sites, but they do not ensure privacy. Maintain a simple Excel sheet.

Leave a comment about your trials.