Simple guidelines for managing your expenses ...
- Prepare an annual expense budget. Estimate your expenditure
- under various heads per month.
- Be realistic while estimating your expenses. Budgeting will be futile if you either over-estimate or under-estimate.
- Keep track of daily expenses under broad headings.
- Compare monthly variances between actual expenditure and budgeted expenditure.
- Don't compensate in one expense head if you exceed your budget in another. Preferably, try to reduce your expense under the same head in succeeding months to make up.
- At the beginning of the year, you have to enter your annual budgeted expenses per month under thirteen main expenditure categories viz: food and groceries, vehicle fuel and maintenance, electricity, clothes, education, rent, travel, conveyance, entertainment, telephone, medical, taxes, and miscellaneous.
- You feed in your daily expenditure for these categories.
- Every time you feed in your expenses, the Expense Record Book calculates for you the following:
- categorywise total expenditure for the month till date,
- categorywise total expenditure for the year till date, and
- a variance report which shows you where you have overspent and/or underspent - for which month and under which category.
- Expense Record Book solves your problem of keeping track of your daily expenses.It contains a record of all your important information. You can download it from mentioned location :
- https://spreadsheets.google.com/spreadsheet/ccc?key=0ApAfI42R9FINdE1fSWVHd3FhbE10SGdzMFE1WFU4T1E&hl=en_US
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