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
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Marsha A. Goetting Ph.D., CFP®, CFCS
• Professor & Extension Family Economics Specialist
• Department of Agricultural Economics & Economics
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MSU Check Register Tracking System
MontGuide 198703 HR
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Front Cover
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Back Cover
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Example of Items
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Blank Page for Your Expenses
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Register System
• Example 1 (top of page 2)• 7 categories to track:–Food, Housing, Transportation, Clothes, Personal Care, Medical, Recreation
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Register System
• Planned spending amounts by category– Food=$300 – Housing=$590
• Checking account balance– $300
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Example 1:
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Example 2: Recording Expenses
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Example 2: Record Expenses
• Check 511 to K-mart• $9.06 listed twice– Under personal care– Checking account balance
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Example 2: Expenses
• $20.94 left personal care category
• $290.94 checking account balance
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Example 3: Circle=Cash
Box=Credit
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Example 3: Cash/Debit Card
• $3.75 food• $24.00 clothes• $15.00 medical • Items are circled
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Credit Card Charges
• Credit Card expense 5/5• Auto Repair $130• Listed under Trans. & Credit Card Columns
• Total--credit card column16
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Example 4: Adding Expenses
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Rounding
• Round up or down in budget category section– $9.06 = $9.00– $9.67 = $10.00
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Register Tracking System
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•Check•Cash•Credit•Debit
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Blank Register
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Evaluation
•Families found an average of $50 that used to “disappear.”
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MSU Extension
•EB 50 •Cost $1.00
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Using a Check Register To Track Your Expenses
Revised October 2008
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