May 11, 2007

Tracking Your Expenses in Quicken (Or Any Computer Program)

After I mentioned my pile of receipts in my post about letting go of perfection, I realized there was a simpler approach that would save me a lot of time. As I've said before, we charge almost all of our expenses to credit cards for the rewards. So I've decided to use our credit card statements to input our expenses. I still keep the receipts, but I don't have to go through each one individually (I separate the receipts for items paid in cash). This approach should save me hours at the computer. I only wish I'd thought of it sooner!


Mrs. Sprinkles said...

I do this--I've been doing it for a little over two years now, and it was a fantastic idea. I can now go back and see exactly what we spent, what we're spending too much on, and where we can cut back. I even break down grocery receipts by food, soda, diapers, formula, and junk food. We can definitely cut back on the junk food! Anyway, it doesn't take too long and it's definitely worth it.

Anonymous said...

What's even easier is to simply download the transactions directly from the credit card website. I do this regularly with Quicken and has saved me lots of time. Quicken has a feature which lets you review every transaction downloaded so you can catch any suspicious charges.

ChiefFamilyOfficer said...

Mama Money - Kudos for breaking your expenses down! That's something I'd like to do ... one of these days :)

Marlo - That's a great idea - I'll have to look into it. Thanks!