Our third-biggest expense in the 2007/2008 school year was the category we call "Household". We spent just under $8000.
Over $6000 of that was for a new roof - we knew the house needed a roof in 2005 when we bought it, but we managed to stretch it out and replace it after I was done my re-training and had a full-time one-year contract.
The remaining expenditures in that category are not really very well itemized. Anything we buy at Rona (the Canadian version of Home Depot), Canadian Tire (hardware store), Zellers (Canadian department store), or the pharmacy tends to end up categorized here. It includes supplies bought for wiring and plumbing fixes (our house was built in 1914), but also the occasional purchase for the kitchen (like canning jars).
Without the roof, it works out to average $135/month. There are other bigger expenses to worry about...
"Household" Expenses
September 27th, 2008 at 05:33 pm
September 27th, 2008 at 06:37 pm 1222540672
An alternative would be to put the roof expense under "Home Maintenance." Just a suggestion.
I try to avoid having categories where you throw a bunch of expenses that don't really fit anywhere else, cus then they get lost in there. I know sometimes it's unavoidable, though.
September 27th, 2008 at 06:41 pm 1222540896
I think the idea of a separate category for "Home Maintenance" is a good one, because it's a category that's important to us, and we want to have a good idea of how much actually gets spent on it.
The other miscellaneous stuff will need to be scrutinized someday... but just wait until you hear what our $4 category was... you may not be surprised, but you might be shocked!
September 28th, 2008 at 01:32 am 1222565533
Each of us can help one another with ideas and how we do things.
September 28th, 2008 at 06:14 am 1222582444
i need to be better about how i write down my spending. Currently i get a set amount in all my spending catagories but i could not tell you where the largest expense is other than debt payments and auto items.
i can only total that i spent XYZ on debt or other expenses. You have inspired me to try and keep better track in October and beyond!!
Thanks,
K
September 28th, 2008 at 12:16 pm 1222604167
So if your'e interested, i thought i'd share all of my categories. I created my own little spreadsheet. I don't use any fancy software, not even Excel. If you know Word pretty well, you know you can easily create your own tables, and that's what i did.
I keep the blank form on my computer, and each new month i print out a new form and fill in the month and year.
I break my expenses down into two main categories: Fixed Expenses and Variable Expenses. I like to separate them this way becus i know that it's the Variable Expenses i have the most control over, so this helps me see that more easily.
Under Fixed Expenses, I've got the following sub-category: Mortgage/property taxes (I pay a single check to the bank on this so i don't break it out.)
Next sub-category under Fixed Expenses is Insurance. Under that comes "Auto," "Homeowners insurance" and "Health premiums" (the amount deducted from your pay each month).
Next Sub-Category is Taxes, and under that comes Borough taxes, IRS (i usually owe something at tax time) and car tax (for simplicity i also combine various driver's license fees and registration with the car tax becus they happen so infrequently, tho they aren't really taxes.)
Other Fixed Expense categories include: Dump sticker, sewer usage fee, cable TV, Internet/Phone and Water usage fee.
Next comes Variable Expenses.
Sub-Category: House. Under that falls Electricty, Fuel oil/furnace cleanings, home maintenance (i define these as "keeping things up," not enhancing or improving) and my only real "catch-all category, "Household," which contains purchases for around the house, dish towels, a toaster oven, etc.
Next Sub-Category: Personal. Here i include "Clothing," "Dining out," "Entertainment," "Out-of-pocket medical expenses" and "Toiletries."
Next Sub-Category: Hobbies/Interests. Here i include "Birds," (birdseed and bird feeders etc); "Gardening," "Books/Music," "Cat." (her catfood, vet visits, etc)
Next Sub-Category: Vacations
Next Sub-Category: Other. These include "Car upkeep," "Food," Gas," "Subscriptions," and "gifts," which includes Xmas shopping as well as birthdays, mother's day, etc.
Next Sub-Category: Major Purchases. I define this, as mentioned earlier, as any purchase above $500. However, if it's a $500 car repair, i'll list it under car repairs. If it's a vacation, i list it under vacation. Usually what ends up here are major home improvements or in years past, furniture.
This is what makes the most sense for me. Everyone needs to personalize their expense sheet, i think, to fit their needs.
August 28th, 2009 at 09:59 am 1251453575