Day 8. January 8, 2013-Finances

For a few years now I have wanted to put all of my finances in Quicken so I can can track where we spend our money.  Every 3 months after I meet with my financial planner I always say I am going to do it this week.  It has never happened until today.  It only happened since I had a meeting with my financial planner this afternoon and because of my commitment to blog after a major task which today happens to be finances.

I came home downloaded the program, went through all of my accounts and downloaded as much as I could for the last 12 months (credit cards only allow 3 months).  For some reason I thought I could do all that and set a budget in time for my blog.  I have absolutely no idea why I thought I was going to be able to finish this in one day.  My head is spinning.  

I blame it on the fact that so many transactions are not categorized.  So I started categorizing.  As I plugged away at this I realized that I need more categories and then sub categories.  Why you may ask?  Because I really want to see where the money is going in detail so I can make small changes in order to be able to invest more of my money.  I know it may seem crazy to sub catagorize things but let me give you an example: Main category Auto needs a lot of sub categories such as insurance, maintenance, fuel, car wash, parking, tolls, tags ect.  I am sure I can cut this expense down so it is necessary to break it down.  I already see senseless waste of money.  There are other ones as well that need to be broken down but I sort of figured it out after I was halfway done with inputting the information.  Which means after I create the new categories I need to go through all the transactions again.

What I concluded today is that some things really can not be done in one day.  My finances are important and I do not want to short change this task of any time.  I am going to add the next two days to this task and I am going to feel ok about it.  I am going to do that because I am not feeling well and I am really tired.  Plus someone has to do the dishes, take the dogs for a walk and laundry (those jobs are never done).

If anyone has any suggestions on how to make this fun task any easier, please feel free to comment.  I need all the help I can get.

2 thoughts on “Day 8. January 8, 2013-Finances

  1. The only way I can see it being fun is to set a goal of something fun you want to do with a predefined amount of money, and that amount needs to come from savings identified from changes you make in your spending based on the work you did in categorizing everything.

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