HOME BUDGET. How to effectively and easily monitor it???

1. How do you monitor household receipts and expenses?

Currently, I do not pay much attention to it, but only because of the long-term routine and maintaining a 12-month financial cushion diversified in 3 different currencies (cash) + gold coins.

2. What tools do you use for this purpose?

I used to use https://kontomierz.pl/ nice tool

3. What factors and components do you consider?

It is good to calculate fixed costs (e.g. food, utilities) and optimize them over time, so that at least they do not significantly increase their share in total expenses on the timeline. Variable costs (e.g. clothing, dentist, holidays, repairs, defects) should be cataloged and monitored throughout the year in order to properly estimate and plan the emergency budget (black hour).

4. Do you do it at all and are you aware of how regular monitoring of changes in your household budget can help you?

Yes, it's generally important, especially if you have a mortgage (KH); - ), and even if you don't have a KH, why waste your hard-earned money, it's good to make periodic analyzes and optimize costs, especially if a good investment opportunity arises, it's good to keep liquidity for such situations.

I would like to know your opinion on this.
In particular, I am interested in what importance do you attach to caring for personal and family finances on a daily basis?

I put a lot of emphasis on my time. This is very important because if you take care of your own finances, you will be able to take care of the finances of others, family :-) Personal and family finances (close and distant family) are connected vessels. Wealth and prosperity are often built over generations.

1. How do you monitor household receipts and expenses?

• Keeping a book of income and expenses
• Establishing a monthly budget where I specify how much money can be spent on various expenses such as food, housing, transportation, etc.
• Saving: Select a few areas in a given month where I save more than usual

2. What tools do you use for this purpose?

• Computer, spreadsheet (Excel is ideal)

3. What factors and components do you consider?

• Different detail of describing receipts depending on the expense category
• Expected monthly income

4. I don't do it all the time

I attach key importance to this on a daily basis, even if I do not document it anywhere and do not calculate it.

And I have a simple old method, I work the budget for a month, we calculate how much I can spend a day, and what I can save is saved 😁, and since you can always save, some zaskurniak is for some unexpected moment. Because why do I need to know how much I spent six months ago when prices are rising like crazy 😁

The only tool I use is an excel spreadsheet where I write down my monthly liabilities and all bills/receipts.
At the end of the month, we do a summary and draw conclusions.
The most important thing is to set, for example, a weekly budget for shopping, create a precise shopping list, a person often and densely without a list takes whatever comes at hand without thinking whether he needs it or not.

There is a simple and effective way, it took me many books and many years of trial and error to figure it out...

I use an excel template, everything is available on one page, you can see it clearly. It is fully automated, I enter the amount and add, subtract, calculate as a percentage, everything you need to know about your own finances. I can't imagine not using this method of monitoring and planning my own finances.

My husband and I use the Kontomierz application and enter expenses manually. The upside is that we can see where the money goes and in what amount. We can plan a budget for the next months. However, this app is not very convenient to use and we are looking for something better.

I don't pay much attention to it, but I use it and it's great. I've created a spreadsheet in excel, which calculates everything after entering the data.

1. Create a monthly budget. Allocate specific amounts to different types of expenses, such as: grocery shopping, installment and one-off payments, insurance, etc.

2. Maintain an accounting system. Record all money spent and income to accurately monitor your household budget. You can do it manually or use financial software.

3. Analyze your expenses. Check your banking statistics regularly; compare costs with your budget plan and make sure you don't go over your monthly or yearly spending plan.

4. Set up email or SMS alerts when there is a new debit or credit transaction in your bank account (which can be set up with most banks) to keep track of your finances.

5. Set savings limits and goals according to your budget and define the duration of the savings goal; for example, "save $1,000 by the end of the year" or "allow yourself to buy a new car in 12 months", etc. Monitor your progress and make sure your signposts are up to date on a weekly/monthly/yearly basis to avoid falling short of your stated savings goal .

I use excel. Monthly receipts and all expenses (even the proverbial parsley). My income varies, so I have to monitor it on an ongoing basis.

I monitor in excel. My main income is from work. After transfer, standing order to:

savings and investment account - 10%

holiday account - 5%

account for annual fees such as third party liability insurance, layettes, inspections, etc. - 5%

transfer for charity - PLN 100 - 200

After the payments are made, the rest is divided into weekly expenses. At the end of the month, if something is left over, we "celebrate" and move the rest to the next month. I also have an irregular other source, half of which goes to savings and the rest to "daily consumption". Sometimes I pick up from the holiday but then I replenish first.

1. I have a deposit and withdrawal notebook where I record all expenses and income. I count it at the end of each mission.
2. Notebook and pen
3. Separately records, for example, expenses for food, expenses for fuel, so that after counting I can summarize how much I spent in a given month, for example on fuel.
4. I do it regularly, and monitoring changes in the budget can show me what costs or income I incur; whether I did not incur higher costs in a given month, and if so, for what reasons (I can try to reduce the costs I incur).

We have billboard

• Groceries
• Insurances (Cars and Home) 
• Children School Plus Transport fees
• Home Wi-Fi 
• Complex Security Fee
• Monthly Petrol amounts (On Cash)
• Prepaid Electricity
  list is limited, the above its just an indication of how we draw down the list

1.  By writing it openly we want to make sure we know how much each item is.
2. Monthly meet up or discussion of any changes on household budge.
3. We came up with tick the box after its finished through the billboard.
   Visualization was a better trick, than apps, spreadsheet on excel.
4. If it's not done, don't pass it and move on the next item (Monitoring).
   For clarity sake yes we need to have a book, caring it outside.
5. For any price hikes like this year we considered the separation for real needs
   and wants we had to cut down more especially on home groceries the were stuff 
   you will buy them just for pleasure.
6. We had to come up with the strategy of banking Wife, Husbands, Children, Households and investment get paid spread money across this accounts as per agreement, should one account dry's up will wait until month end.
7. One will ask where is entertainments and outing budged, we do go out limited times it's money comes from side business we don't use our money from our salary's i don't track it a lot but we limit outing times twice a month.

In my opinion, in order to effectively monitor the home budget, it is worth following a few simple rules:

Set your financial goals and set your budget based on those goals.

Gather all your bills, invoices and other financial documents and organize them by category, such as rent, food, entertainment, etc.

Log your expenses to better understand where your money goes. You can do it manually in a special notebook, or use a budget management application, such as Mint or YNAB.

Set a monthly spending limit for each category and stick to it.

Keep a surplus of money in a savings account or invest it in safe options, such as bank deposits or mutual funds.

Check your budget regularly and make adjustments as needed so you're always in full control of your finances.

Remember that budget monitoring is an ongoing process and requires patience and discipline. It's important to review your spending regularly and set new financial goals if necessary

I collect all receipts, write them down and look at what I need for the next shopping, I don't buy in stock unless it's funds or food with a longer shelf life. I'm not a fanatic, but I like to have everything under control, so I try to save money and, for example, I throw all the small coins into the piggy bank with pleasure and watch how a pile of coins grows every week, which I will later use during my holidays.

Writing down in a notebook what I spend money on, all expenses. Then I am aware of money, a sense of spending control, what I can afford, if you do it for a long time, you can see how expenses grow, individual products that I buy regularly, you can see how money loses value, purchasing power.

I highly recommend The Financial Ninja. A lot of information on keeping a household budget. A lot of information can also be found on the author's blog https://jakoszczedzacczeniadze.pl

Spreadsheet in excel, I regularly enter receipts and expenses,

I have created a spreadsheet in excel, which automatically calculates everything after entering the data. If I win, I can send you a private message.

The prize amount indicated above is the gross amount (it also includes a 20% donation to the portal). The winner will receive 1.6 FV .