using a check register to track your expenses revised october 2008 1

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Using a Check Register To Track Your Expenses Revised October 2008 1

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Page 1: Using a Check Register To Track Your Expenses Revised October 2008 1

Using a Check Register To Track Your Expenses

Revised October 2008

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Page 2: Using a Check Register To Track Your Expenses Revised October 2008 1

Marsha A. Goetting Ph.D., CFP®, CFCS

• Professor & Extension Family Economics Specialist

• Department of Agricultural Economics & Economics

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Page 3: Using a Check Register To Track Your Expenses Revised October 2008 1

MSU Check Register Tracking System

MontGuide 198703 HR

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Page 4: Using a Check Register To Track Your Expenses Revised October 2008 1

Front Cover

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Page 5: Using a Check Register To Track Your Expenses Revised October 2008 1

Back Cover

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Page 6: Using a Check Register To Track Your Expenses Revised October 2008 1

Example of Items

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Page 7: Using a Check Register To Track Your Expenses Revised October 2008 1

Blank Page for Your Expenses

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Page 8: Using a Check Register To Track Your Expenses Revised October 2008 1

Register System

• Example 1 (top of page 2)• 7 categories to track:–Food, Housing, Transportation, Clothes, Personal Care, Medical, Recreation

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Page 9: Using a Check Register To Track Your Expenses Revised October 2008 1

Register System

• Planned spending amounts by category– Food=$300 – Housing=$590

• Checking account balance– $300

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Page 10: Using a Check Register To Track Your Expenses Revised October 2008 1

Example 1:

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Page 11: Using a Check Register To Track Your Expenses Revised October 2008 1

Example 2: Recording Expenses

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Page 12: Using a Check Register To Track Your Expenses Revised October 2008 1

Example 2: Record Expenses

• Check 511 to K-mart• $9.06 listed twice– Under personal care– Checking account balance

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Page 13: Using a Check Register To Track Your Expenses Revised October 2008 1

Example 2: Expenses

• $20.94 left personal care category

• $290.94 checking account balance

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Page 14: Using a Check Register To Track Your Expenses Revised October 2008 1

Example 3: Circle=Cash

Box=Credit

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Page 15: Using a Check Register To Track Your Expenses Revised October 2008 1

Example 3: Cash/Debit Card

• $3.75 food• $24.00 clothes• $15.00 medical • Items are circled

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Page 16: Using a Check Register To Track Your Expenses Revised October 2008 1

Credit Card Charges

• Credit Card expense 5/5• Auto Repair $130• Listed under Trans. & Credit Card Columns

• Total--credit card column16

Page 17: Using a Check Register To Track Your Expenses Revised October 2008 1

Example 4: Adding Expenses

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Page 18: Using a Check Register To Track Your Expenses Revised October 2008 1

Rounding

• Round up or down in budget category section– $9.06 = $9.00– $9.67 = $10.00

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Page 19: Using a Check Register To Track Your Expenses Revised October 2008 1

Register Tracking System

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•Check•Cash•Credit•Debit

Page 20: Using a Check Register To Track Your Expenses Revised October 2008 1

Blank Register

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Page 21: Using a Check Register To Track Your Expenses Revised October 2008 1

Evaluation

•Families found an average of $50 that used to “disappear.”

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Page 22: Using a Check Register To Track Your Expenses Revised October 2008 1

MSU Extension

•EB 50 •Cost $1.00

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Page 23: Using a Check Register To Track Your Expenses Revised October 2008 1

Using a Check Register To Track Your Expenses

Revised October 2008

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