Category Archives: Revelations
Keeping an eye on the Dollars
July 11th, 2011This month more than ever is all about watching exactly where the money is coming and going from. I think it is something scary that I have avoided to do for far too long and now it’s really time to buckle down and note every single transaction I am making each and every day.
The iPad app called “Expenses” is working the best for me so far. Simple and clean interface, broad categories to record quickly and easily. It’s not by any means a full blown budgeting program for business, but for me it’s perfect just to monitor my personal expenses during the day as well as some business related fix costs.
And you know what the biggest culprit so far that eats all my money? Eating out.
I had no idea how much money I spend every week on food and coffee! Only after I started tracking this did I realize it accounted for 50% of my personal expenses, and about 20% of business related (meaning the days I am too lazy to bring food from home).
That is just unacceptable.
So now this week I am going to try to cut it down by half. I think a pretty reasonable goal. And I haven’t decided if that will go back into my personal savings or back into the business.
Lesson for everyone: keep track of how much you spend on food. It will blow your mind.
If anyone can beat 50% let me know, because that is scary and I want to know why you let it go so high!
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