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I’ve recently been tweaking the ins and outs of my personal budget, income, expenses, and receipts. Everything was working fairly well, but I often found myself trying to update paper notebooks, Mint.com, and my Excel spreadsheets….all at once.
Ever so slowly, I’ve beentransferring all that information to Excel, so I can have everything in one single, simple place.
I’m still inlovewith my notebooks, and like to use them in addition to my Excel sheets, but my 3-ring homemaking binder {which has most of my financial info in it} was falling apart. I’ll take any excuse to buy a new one.
They have crazy cute stuff, including fun post-it notes that would be a great addition to your home or work office. You know me and post-it notes!
They also have fabric covered 3-ring binders that are absolutely adorable, and I was so excited to get my hands on one.
They are a little pricier than those cheap plastic covered cardboard notebooks from Walmart, but I was pleasantly surprised at how sturdy this one is. I really don’t see it falling apart anytime soon.
How excel and physical notebooks work together
Maybe you’re wondering how a 3-ring binder fits in with my Excel spreadsheets?
Because computers die, hard drives crash, and flash drives get lost. That means it’s smart to keep a physical copy of your finances in a separate place.
It’s also really nice to grab a notebook during budget family chats, rather than opening every file on the computer. You can reference spending habits, job income, and personal profit/loss statements with ease.
And yes, I am so analytical that I do create profit/loss statements!
Here’s what I have in my financial notebook and why
- Financial Goals – Every frugal should really have some. These should also be the very first page of your notebook so you are reminded every time you take a look at your budget.
We’ll be talking about creating financial goals closer to New Years, so stay tuned.Update: Here’s the post!
- Total Income – Tracking income helps me see what kind of cash we are working with each month. Because neither of us are salaried {and sometimes Joseph gets a lot of overtime}, it can really fluctuate, but at least we have an average to reference. This is also useful to figure out giving, because you can immediately determine the percentage of gross income that needs to be taken out for church, charity, etc.
- Total Spending – We like to track every single penny, so we can achieve most, if not all, of our financial goals. There are totals for each month, year, and category. If one category starts to get a little out of control, we can catch it before a disaster happens. Ex. Our eating out budget.
- Car Repairs– I like to keep track of how many repairs each car has to see how much we are actually spending to maintain the vehicle. So far, the VW has been the best investment!
- Utilities Analysis– This is where I take all my utility bills for electric, heat, etc, and figure out the averages for certain times of the year. Not only does it help me budget better, it also lets me know if an energy efficient investment actually worked.
- Personal Profit/Loss Statements by Year – This includes rental income, personal income, and all our expenses. If you save more than you spend, this will be a positive number at the end of the year, which is what we want!
- Rental Profit/Loss Statements by Year – This shows us how our rental property does standing on it’s own, meaning it includes only rental income and rental expenses. {Also includes itemized deductions.}
The purpose of my notebook is to give me a quick snapshot of my financial situation every month and year. I leave tax forms, banking, and earning statements in a filing cabinet because I’m less likely to reference them as often.
Ready to start your own financial notebook?
Grab yourself a pretty and cute 3-ring binder like I did, add some dividers, and start tracking your finances.
It doesn’t even have to be as complex as an Excel spreadsheet – you can totally use a piece of notebook paper and a pen if that’s what works for you. Use this post to guide you towards exactly the kind of information you want to include.
They key is to start keeping track, and have a one-stop-shop for all your financial information. It will make family meetings, goal setting, and changing spending habits so much easier!
Do you have a financial notebook?
Disclosure: Some of the links in the post above are affiliate links. This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers.Read my full disclosure policy here.
I received a free notebook and post-its from Office Candy.I was not required to write a positive review. The opinions I have expressed are my own.
