Hi yall !
Last year, my girlfriend and I started tracking our expenses. I’ve read a lot about it, and follow mr.rip’s blog and envy his capacity at keeping track of every cent on a well-done spreadsheet.
I copied a bit of his ideas, but simplified it for my own usage. I have a few “accounting nightmares” I’d like to share with you. Hopefully you have a few tricks to help me out !
So my girlfriend and I don’t share our accounts at the moment ; we have common expenses related to our household (groceries, rent, …) that we share equally. Some expenses are paid through my bank account (rent for example), and all groceries and other shared expenses are paid with our Cumulus-Mastercard credit card.
At the end of the month, we take 30 min to look at our expenses, and we split the costs and pay the credit card (actually at the beginning of the following month, since we get the bill for January expenses at the beginning of February).
For now, we use :
- A spreadsheet for monthly common expenses, based on the one mr.rip uses.
- We each have a similar spreadsheet, where we put our monthly personal expenses.
I’m currently making my own “net worth” spreadsheet, again based on mr.rip’s one (I actually got addicted to Google Spreadsheet and the options you have to configure something like that !!!) : that one should have a monthly summary of my net fortune : salary, expenses, 2nd and 3rd pillar, investments, well, all the informations !
Main problem is : how to account for expenses that occur one month but are billed the next one ? (as a reminder, our Cembra-Mastercard invoice covers the transactions of the previous month, e.g. from 5th of January to 1st of February, payable until 23th of February)
- On the one hand, we want to track our expenses month by month : we therefore enter the credit card transactions of January in our “common expenses spreadsheet” under the month of January.
- On the other hand, on my “net fortune spreadsheet”, I would have to put these expenses in the month of February (since I pay my share of the credit card bill in February, but I actually pay back the transactions of January…)
I thank you for your advice!