T.M.I.

I've explained in previous entries how anal retentive I am when it comes to our finances. I don't just track how much comes in and how much goes out, but I track exactly where it goes. Take groceries as an example. Every week, I review my receipts to determine how much was spent on dairy, meat, junk food, etc. That amount accumulates (via my spreadsheet), so that at the end of the month, I can tell exactly how much we spent in each category.

You may be asking yourself....WHY?!?!

Before implementing this routine, I tracked just the total amount we spent on groceries. And quite honestly, I got tired of asking myself every month, "How in the world did we spend THAT much money on food?!" I answered that nagging question with my new routine, and it's been smooth sailing ever since. I can tell you exactly how much I spent last month on meat or soda or produce. It really does make a difference in our budget, but I've noticed that it's time to implement the same practice with household items...those pesky little things like paper towels, cleaners, batteries, etc.

Again, I hear you asking....WHY?!?!?!

Boy, that junk really eats away at our income! I feel like changes need to be made, but I need to confirm it through this weekly review. Before I started the weekly grocery review, I thought I could determine where we spent the most money, but after a short period of time, I realized that I was dead wrong. So I need this weekly review in writing to confirm or disprove what I'm thinking...which will in turn change my shopping habits. I cannot avoid buying things like laundry detergent or toilet paper, but if I'm buying it every month, maybe I would be better off buying the next larger size or in bulk. You really have to pay attention! The bigger option is not always the best value.

And still, I hear you asking....WHY IN THE WORLD ARE YOU DOING THIS?!?!?!

Is this "too much information"? Am I that much of a geek that I need to have all these numbers and stats in front of me to be at ease about my finances? Yes and no. I am a numbers geek, so I really dig this kind of analysis, but I don't do this just because I need a fix. I don't like the unknown, and control is really the issue here. Either my money is going to control me, or I'm going to control it. By closely monitoring our spending throughout the money, we are keeping tighter reign on our money; therefore, we are keeping more of our money in the end.

Aren't you tired of asking yourself where in the hell your money goes every month and not having a good answer? I got fed up, so I did something about it. If you find yourself in the same situation, then do something about it! Don't just ignore the question; take charge. Master your money or it will master you. That's the way it goes, and this kind of detailed, weekly review of our spending is how we keep the "beast" in line. This practice doesn't prevent us from slipping up, but it does help us to be accountible and to behave well.

Master your money - do what is necessary to keep as much of your money in your pocket for as long as you're able. I promise you will not regret that practice!