As boring as a task as it sounds we’ve been tracking our daily budget expenses for 7 years, but not without problems.
To be honest I was not up for asking every retailer for a receipt but it soon dawned on me how important that task would be.
I was very embarrassed at first but now it’s second-nature for me and besides you can’t return an item without a receipt.
If you find you are in debt or even if you’re not in debt the key to successful money management is knowing where your dollars are going.
You must stop making excuses as to why you are not able to make time to budget and just do it.
Becoming your own daily expense manager means you are the boss.
Make yourself accountable for sitting down every day whether it be in the morning or evening to review daily budget expenses.
As soon as you make an expense have a system in place where you stash receipts in one spot, make notes on your smartphone or write it down.
Whatever you do, don’t forget and make it a priority every time money is exchanged from your hands whether it be from the bank, debit, cash or credit.
Tracking Daily Budget Expenses
We choose to track our daily budget expenses via our excel budget spreadsheet but I realize not everyone uses it.
I’m just wondering what the easiest way is to track my daily budget expenses as I seem to find out too late that I’m spending too much money?
If you have a budget system that works for you and a budget binder I’ve created a free daily budget expense printable for you.
Print out as many sheets as you need and you can track your daily budget expenses as you go.
There is a spot for the date, items you purchased for reference purposes and the cost for the expenses.
This record of daily budget expenses will allow you to review where your money is going.
It allows you the ability to make changes to your money mindset because you see what you are spending.
Change Your Money Mindset
If you really want to chase away the stress you experience from money worries on a daily basis you need to change the way you view money.
It’s easy for me to tell you what to do but unless you take charge nothing will change for you.
You will wake up tomorrow in the same slump you are in today because you procrastinate over a simple financial task.
It’s not hard to say, “May I Please Have My Receipt” when you make a purchase.
Practice in the mirror if you have to but get used to doing it if you plan to track your daily budget expenses.
The best embarrassing moments of our lives led us to debt freedom.
Track Daily Budget Expenses With Receipts
I’m not a fan of using an app to track receipts because it seems far easier to just ask for one from the cashier.
I know that some stores offer to email you the receipt from your purchase and if that works for you then use that system.
Just be aware that not all stores do this so find a system that works for you so it’s consistent and you aren’t missing receipts.
We keep a budget binder in our kitchen office nook where we store any receipts that we have collected during the day.
As soon as we get into the house we empty our wallets into the budget binder to keep track of them.
Later in the evening one of us adds our receipts to our monthly budget spreadsheet.
Online Shopping Receipts
The other thing you may want to consider is online spending.
If you love online shopping make sure you are always printing out a receipt to add to your budget binder for tracking purposes.
The last thing you want to do is forget any daily expenses from shopping online.
We do quite a bit of online shopping and have made this mistake before so learn from our error, print online shopping receipts.
If you don’t have a printer be sure to check your PayPal account, credit card statement or bank account for daily purchases for tracking daily expenses.
Track Daily Expenses With Your Budget
We track our daily expenses by inputting our receipts at the end of the day into our monthly excel budget.
There are also many apps available for those of you who aren’t keen on using excel and want the ease of using a smartphone.
No matter what option you choose to track daily expenses the key is to make sure you are doing so.
Tracking your daily expenses allows you to see exactly where your money is being spent.
It’s like an open-book budget instead of just seeing numbers in budget categories which is why our budget has been so successful.
Each month we are able to review every expense we made because we add every receipt to our budget which forces us to review them.
Categorize Daily Budget Expenses
This is one cool way that helped us to see the big picture of our daily budget expenses.
If for example, you go to 3 grocery stores in one day and then to Canadian Tire try to group the grocery receipt expenses one after another.
By grouping or categorizing your daily expenses, it makes it far easier to examine each of the budget categories.
Over time you will know exactly what budget category every one of your receipts will belong to so this will help tremendously.
Review Daily Budget Expenses
Just as you should take an hour or two out of your month to finalize your monthly budget you should prioritize your daily expenses the same.
After our son goes to bed at night one of us will take any receipts that we have from the day and input it into our budget.
At the end of the week, we both sit down for about 15 minutes and have a fresh look at where our money went for the week.
Each of our daily expenses is documented so it will be easy to analyze the information and make changes as needed.
If you earn a cash daily income you can log it along with your daily budget expenses to help track earnings and spending.
Don’t Rob A Bank
To reflect on what I explained above in one sentence is simple, do what you need to do to become debt-free. (No don’t rob a bank)
No one is going to tell you what you are doing is right or wrong apart from the numbers.
They never lie. You’ll see after a few months of tracking your daily budget expenses how critical the information will be to your journey.
How do you track your daily budget expenses? Leave me a comment below.
Income Report August 2019
Where did the money go in August?
We had a decent month for net earnings and the good part is we actually had savings this month.
Last month we spent quite a bit of money on our bathroom renovations which I am completing by myself.
In August there continued to be some billing for renovations but we are near finishing purchases for this reno.
Road Trips Soak Up Gas
Our gas expenses and eating out are high again since we have been on the road visiting my mother-in-law.
We do pack lots of snacks when we go but it’s not easy when you have a child in tow who is bored.
This is no road trip for fun in any sense so going to McDonald’s really does cheer him up.
Extra Budget Expenses
There were also extra expenses that we paid for her that we just paid ourselves.
We don’t tend to charge my mother-in-law for small expenses for helping her out around the house or for stuff she needs.
Life is too short to worry about the small stuff when you know that someone may not be around for long.
We just do what we need to do to make her happy and continue to be there for her.
Back to school expenses were a bit high for us as we bought our son some clothes, shoes, etc.
Although we did buy some second-hand clothing we needed to get new shoes which we bought on sale from National Sports online.
That’s all for this month.
See you in September to recap where our money went.
Budget Percentages August 2019
Our savings of 55.5% includes investments as well as any savings for this month based on the net income of $10,169.41.
We put money away in our projected expenses for things that need to be paid for in the coming months.
All of the categories took 100% of our income which shows that we accounted for all of the income in the month of August.
Monthly Budget Expenses
Below is a breakdown of our expenses which helps us to understand where all of our money goes.
Since May 2014 we’ve been mortgage-free so much of our money will be directed at savings, investments, and renovations.
I appreciate that you enjoy this budget update each month but I do hope you view this as an educational tool rather than comparing your own financial numbers as our situations are all unique.
Spending less than we earn and budgeting our money has been the easiest way for us to pay down debt and save money.
It may be different for you.
- Chequing– This is the bank account where all of our debt gets paid from.
- Emergency Savings Account– This is a high-interest savings account.
- Regular Savings Account– This is a savings account that holds our projected expenses.
- Monthly Budgeted Total: $5873.93
- Monthly Net Income Total: $10,169.41
- (Check out our Ultimate Grocery Guide to see where our grocery money goes)
- Projected Expenses: These are expenses we know we will pay for throughout the year = $324.98
- Total Expenses Actually Paid Out: $6718.29
- Total Expenses Actually Paid Out: Calculated is $10,169.41(total net monthly income) – $324.98 (projected expenses) –$3126.14 (savings to emergency fund) = $6718.29
- Actual Cash Savings going into Emergency Savings: Calculated is $10,169.41 (total monthly net income) – $6718.29(actual expenses paid out for the month) – $324.98 (projected expenses) = $3126.14
Monthly Budget Results
Time for the juicy category numbers and to see how we made out with our monthly budget.
Below you will see two tables, one is our monthly budget and the other is our actual budget for the month of July 2019.
This budget represents 2 adults and a toddler plus retirement investments.
Budget colour chart: If highlighted in blue that means it is a projected expense.
10 Step Mini Budgeting Series
Do you want to learn to budget as we do?
Please take the time to read through our budgeting series plus read Budgeting in the New Year.
I hope the information will help stop you from making common budgeting mistakes.
Our Ultimate Budgeting Guide from A to Z has everything you need to know about budgeting in one blog post.
Over the years we’ve created a 10 Step Mini Budgeting Series that will help you understand how to start using a budget.
CBB Budget Updates Month By Month
Just in case you missed our budget updates and want to do a quick search I’ve compiled them all on one handy page: monthly budgets.
2019 Budget Challenge
When I was looking for people to join the CBB 2019 Budget Challenge back in December I had over 20 people interested in joining.
August 2019 Budget Challenge Update:
And then there were 4!
We started the year with 20 participants and are down to 4.
I’m so proud of these budgeteers!
As our budget challengers ventures along you may see their budget reports increase in data which I expect especially because it’s a learning experience for everyone.
The more you do a task the better you get at it and the more you learn about what you are doing.
The budget reports below will remain anonymous unless the writer chooses to use their name and each one will be unique.
They get to choose how they report their budget back to us.
Here we GO!!!
Budget Challenge #1
There’s really not much to report this month.
Life has continued on with our normal summer activities.
The only out of the norm activities were that we spent 2 weekends away this month.
One weekend was in Bellevue, WA and cost us next to nothing.
The gas was paid with a little of the extra gas money I had saved up in the Transportation and Parking account.
Our hotel and 2 meals a day were included with our “points” reservation.
The 2 lunches away + snacks and drinks for the room were a small ding in our grocery budget but we weren’t home to eat any groceries anyway so why not spend the money on a couple of nice lunches?
Our whole trip cost us less than $60.00.
You can’t complain about that!
The second weekend was in Burlington, WA and cost us a little more than the previous get-away.
In fact, our whole trip cost us $200.00…3 lunches, 2 dinners & our in-room evening snacks.
We had great meals though!
The gas was once again paid by extra gas money I had saved up specifically for our summer trips and day trips.
The hotel and a hot breakfast daily were included with our “points” reservation.
Out For Dinner
We hit up our Entertainment & Gifts Account for our 3rd dinner out while we were away.
Hubby FINALLY got his steak dinner that I’ve been promising him for the last couple of years.
Even at a steakhouse, our dinner bill wasn’t expensive because hubby ordered the “special” that included a small steak, veggies, baked potato fully loaded & all-you-can-eat shrimp for $16.99.
I ordered from the “sides” section of the menu… a baked sweet potato and steamed broccoli were all that I wanted.
We never order drinks, except ice water, so we had a nice “date night” for an extremely nominal amount.
The dinner was an early birthday celebration for my hubby, hence the splurge. I will make him a “special supper” at home on his actual birthday next month but this was the steak dinner he’s been wanting for a considerable length of time.
Poor devil, he’s been on the receiving end of my love affair with delayed gratification. Sorry, sweetie! LOL
Did I mention that I changed our 25th-anniversary trip?
We’re now going to have 2 connecting suites with full kitchens in each suite at a Bellingham, WA location instead of going to Whistler.
I am working on a nice little menu for our anniversary trip and the grocery list to accomplish that menu.
I’ll be shopping the loss leaders in the various US flyers to make our meals as nice as possible for the least amount of money possible.
Our “points” reservation will give us a hot breakfast each day and I’ll be able to cover the rest of our meals by setting aside $250 for some groceries and 1 dinner out.
That’s $20.00 a day + $50 for our dinner out…that’s very doable for 2 meals a day for 2 people.
I can make some amazing sandwiches, soups, stews, chilis, and salads and stay at least on the budget but possibly under budget.
The only night that we’ll go out for supper will be on our actual anniversary.
I just couldn’t justify 10 days’ worth of lunches in Whistler it would be $500-$750 easily! And that’s not even counting the groceries we’d have to haul from home for our breakfasts and suppers.
The grocery stores in Whistler are CRAZY EXPENSIVE so you really don’t want to shop in Whistler if you can possibly avoid it!
Plus, it’s no joy having to haul all that stuff up from the car in the underground parking to our room.
It’s so easy to spend money…but it’s a lot harder to replace it so I chose to economize because I’ll enjoy our anniversary get-away a lot more knowing we aren’t spending an arm and a leg just to eat!
I’m hoping that by making this change to our vacation plans that I can hold onto $1,500 of the $3,000 vacation money we are setting aside in 2019 and put it towards our 2020 holiday plans.
I still haven’t decided on where to go yet…I’m thinking about California.
So, we are on track with our budgeting again this month and have finished off August with $2,861.69 in our vacation accounts but let’s say that’s $1,500.00 for 2019 (NEW GOAL ACHIEVED!) and $1,361.69 already saved for 2020.
If all goes well, we’ll enjoy our 8-night Portland, OR vacation (with 2 fully equipped kitchen suites) + a 2-night stay in Burlington, WA, = 10 nights away in total with a hot breakfast daily included with “points” reservations.
Our budget will be a maximum of $400.00 or $40/day…$20.00 per meal for 20 meals.
That’s easy peasy if we only eat in a restaurant or pick up take-out once per day and I make the other meal in the room…soups, salads, sandwiches and cold plates are very easy to fix with just a few groceries.
We both love Souplantation/Sweet Tomatoes restaurant menus with their all you can eat soup-salad-chili-ice cream for less than $20 for the two of us.
We likely will go every few days and enjoy an awesome, healthy but very filling & affordable meal! ($1500 – $200 Burlington Early Birthday trip – $250 Anniversary Trip – $400 Portland Trip = $650 remaining)
That would leave us a minimum of $650 for our 27-night vacation ($24.07/day) in Bellevue where we only have to cover our lunches and snacks.
I can cut the lunch costs and allow for some really nice holiday splurges every couple of days by making at least 50% of our lunches in the room.
We can have even bigger splurges if we save some breakfast items from the Club Floor lounge for our lunches.
For example, save some bacon and I can make bacon and tomato sandwiches for lunch or save some hard-boiled eggs and make egg salad sandwiches for lunch.
Even while we are away on vacation this year, we’ll be lean, mean budgeting and saving machines! LOL
Do you budget your vacations or just throw caution to the wind and simply enjoy your time away…even if it ends up costing you more than you wanted to spend?
Budget Challenge #2
Hi Mr. CBB
Here’s my august budget summary
Current Status: 128% to budget
Well, what can I say?
My August was way worse than my July, possibly because we had some guests over and spent a lot of money food.
I’m sure by now you know my theme is food, I just can’t stick to my food budget as I love eating out too much.
Unfortunately, August was my last month of maternity top-up from my work, we’re down about $800 now so we need to cut back a bit.
It bites but I don’t think I could go back to work taking care of my almost 4-month-old!
There are some things I’m getting ready to do, i.e. start-up the Checkout 51 app again, finding more coupons for groceries.
My oldest will be going to kindergarten in September, and I’m not looking forward to packing lunches!
We’ll probably buy into the food program there, but I do need to do the math on that to see if there is anything we can save.
Our auto and home and everyday purchases came in on budget although there was nothing special I did to keep the cost down here.
Staying home helps a lot.
Time and Time again its food. What can I say?
I love eating out, and right now I don’t have the drive to keep us from eating out on the weekend. (spending too much time at home methinks??)
Now that my maternity top-up is over my frugal side will pop up again.
Paying Minimum On Credit Card
It’s interesting that my husband likes to spend money on the credit card but doesn’t know how we pay the credit card.
He’s more than once asked me to pay the minimum on the credit card so we have some cash leftover during the month.
I nipped that in the bud as soon as it came out of his mouth.
There’s no way we can accumulate debt like that and I always make sure to pay off the credit card as much as I can.
He doesn’t spend his money on food as I do, it’s more like video games and entertainment stuff.
Baby items also came in higher than budget, it might take me a few months to figure out how much we’re spending, there was a couple of purchases that we weren’t expecting to make, like a car toy, (Distraction from crying hysterically in the car = my sanity).
Our miscellaneous category also came in way above, we had to spend $200 deductible to fix my husband’s windshield.
I put our health spending on the chart this month ( acupuncture, chiro, etc) there’s no budget there because we get it reimbursed from our insurance.
Until next month!
Budget Challenge #3
Here’s my budget for August 2019.
This month was almost all about our bathroom renovation!
I feel like it’s all I could focus on.
It took way longer than I expected and I got close to my breaking point a few times.
I would definitely say this was a learning experience for us.
Financially, we were not prepared for all the ‘extras’ that came up, so if I ever have to budget for a renovation again, I would add at least 25% extra to my projection.
I really thought I had planned well, but I guess not.
It’s been a stressful month, to say the least.
I’m glad that summer is coming to an end, I’m very ready for routines and regular bedtimes.
My kids said they had a good summer, so I’m glad they enjoyed themselves.
The kittens are growing like crazy and have lost their cute little baby kitty fuzz.
They get into trouble often, but I know they’re still learning the rules of the house.
My hubby is back on overtime, so we’re working on building our savings account back up.
We still have a few small expenses for our trip, like luggage and ship amenities, but thankfully, we still have time to save for that.
As a last hurrah for the summer, we took the kids to Cedar Point.
It was a nice day, but a long day!
Our ‘Everything Else’ category, this month, included school supplies, clothing, health, and other small miscellaneous items.
I was impressed with our ability to stay on budget for back-to-school shopping!
I spent less than $60 on school supplies, including new backpacks and lunch bags for two kids.
My daughter only needed new runners and a few outfits and my son bought his own shoes and clothes this year, which really saved us some cash!
Monthly Budget Pros:
- We took the kids to Cedar Point
- The bathroom reno is almost complete
- We saved on back-to-school shopping
Monthly Budget Cons:
- Our bathroom reno put us WAY over budget!
- We didn’t get to spend as much time together as a family as I would have liked
Budget Challenge #4
Not a lot to report for August.
August was a very difficult month for my family and friends which meant a lot of travel, long-distance calls, and eating out.
I lost my grandmother, my boyfriend lost his uncle, and my best friend lost one of her closest friends. On top of that, another of her friends has been missing for over 3 weeks now.
It’s been rough, and I don’t do rough well.
In terms of a budget, that means eating out more – (I ate out every meal for 3 weeks), more travel (3x a week I drove to visit my grandmother before she passed – which is a 4 hour round trip), there were also a lot of long-distance phone calls – most were covered under my North America cell phone plan but some were outside of NA – so I’ll see those charges in September.
Vacation next month
We had planned to go on a big trip but will be keeping it much smaller, either staying home or going to stay with family in the next province over.
Downtime with the family will be good, and budgeting will sort of get back on track.
I didn’t overspend this month despite everything but I didn’t put extra money into my savings account like I usually do.