tracking joint finances + setting savings goals!

2021, goals

Hello!

If you’ve read any of my bullet journal, goals or organisation posts, you’ll know how much I love planning and making lists. Tracking my finances is no different – I implemented finance tracking in my bullet journal when I decided I wanted to get out of my overdraft before I left uni (still one of my proudest achievements). I set myself a weekly budget and used my weekly spread to make sure I stuck to it, in third year I kept receipts for everything because it was easier to remember how much I spent and I managed to buy myself a new phone outright before I went to New York in 2018 so I used to be quite good at managing all my finances!

At the end of 2020 I saw this video from Hannah Witton about tracking her joint finances with her husband and when I’m shown a pretty spreadsheet, obviously I want to make my own.

So I made it one of my 2021 goals to monitor our spending – I thought this would be especially helpful as we’re saving for a 2022 wedding and we really need to get some money together to pay for it and it can give us a clearer idea of where we’re overspending, where we can save and how we can reach our financial goals (which makes us sound way more grown up than I really want to be).

To set up my spreadsheet, I essentially watched Hannah’s video through really slowly, pausing often to type categories and things in my own Excel document and decide which colours I wanted for each heading.

 

Once I had the basics of income, savings and expenses all set up with our own personalised categories suitable to our life and expenditure (I didn’t know I knew that word tbh), I then got to my favourite bit – using equations to automatically add things up.

At first it was relatively simple – addition sums at the bottom of each column to calculate monthly income/savings, addition sums at the end of each row to calculate yearly totals in each category and then in the bottom right hand corner of each section, another addition sum to see our total income, savings and spending for the year.

But there’s more…

I then thought about being able to include a running total of our bank account – knowing how much we had leftover at the end of the month and using that as a starting point for the beginning of the next month. And in conclusion – this is my beautiful spreadsheet that I have to work with.

It might be harder to appreciate how beautiful and efficient it all is without any of the data (there’s some things I know I definitely shouldn’t share online) but I’ll talk you through it.

The top category – where we track what goes into the account, starting with what was leftover from last month and any additional finances we pay into the account (not necessarily everything we get paid). The total figure here helps to calculate the remainder figure at the bottom of the sheet which in turn becomes the ‘balance on the 1st’ figure the following month.

The last category is the fun one purely because there’s more data to put in and balance and equations and it makes me feel clever, but it’s simple enough – put what comes out of your bank account in each of the categories, total expenditure is an addition of the savings and expenses category and then remainder (or current bank balance, however you want to word it) is total income minus total outgoing, and that remainder uses a very simple ‘=[CELL NUMBER]’ equation to carry over to the next month.

And then I did it all again for my personal finances.

In all honesty, it’s not complicated – it’s a few addition equations, remembering to continuously update it (hence the cell that says ‘Last Transaction Input’ at the bottom) and maintaining everything I’ve already learnt about budgeting and not spending more money than I have.

I’ve been finance tracking for a long time on paper, but it’s never really had a purpose – it’s just been for the sake of being aware of what I’m spending. Doing it this way means I can see a generalised view of my year and I can see if I notice any changes in where we’re spending more or less, perhaps where we could save money and hopefully where we can save more for the wedding and one day getting on the housing market and all the other gross adult things that cost too much money.

Like Hannah said in her video, I’m the one that does all the finance tracking – I tried to show my fiancé and he said ‘that’s nice’ and went back to his video games, so as long as I can tell him how much we need in the joint account and whether he can justify buying the new Samsung phone (he can and he’s very excited that it’s arriving three days before it’s official release).

I love tracking a lists and this spreadsheet means that my finance tracking in my bullet journal is completely unnecessary, but I think I’ll keep doing it because there’s something really demoralising about having to put it in writing when you did a sad spend and ordered too many things online. Although demoralising sounds like a bad thing, sometimes it’s the nudge you need to stop unnecessary spending and avoid popping into McDonalds after I’ve finished the Asda shop (which is good for both the diet and the bank account!).

It’s not life changing – it’s not going to make me a Saving Wizard and give me more money than I have, if anything it’s depressing to think about how much money is spent on boring adult things like bills but it’s helpful in the long run, just in that boring ‘adulting’ way.

Thank you for reading – I hope you and your loved ones are happy, healthy and staying safe!

Sophie xx

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January in my bullet journal

2020, organisation, student

Hello!

I’ve been blogging fairly consistently about my bullet journal for around three years now – I started in January 2017 and I’m now on my fourth journal and it’s something I love to constantly experiment with to maximise productivity and clear my head.

So I thought I’d show you what my bullet journal looked like in January – I’ve decided to stick with a colour theme per month so it’s very blue. My layouts at the moment are really working for me but there’s some bits I’ve already changed in February, so let me know if you’d like to see those!

Starting with my opening page! I knew I wanted to use my letter stamps but I wasn’t sure how, so the left page is one that looks a bit bare but I love how my January Goals look! And I’m pleased to say I’m on track to achieve all of them – I’ve nearly done my word challenge, I registered at the doctors, I’m eating mostly carb free lunches, I’ve made an alternative decision with the new blog I want to launch and I didn’t go too mad on spending this month. And I read THREE books and went on two date nights so pretty good start to the year!

Next is my finances – I was a bit hesitant about posting this page but then I thought actually… it’s not my card details! The only information this really shows is how many times I caved and went to McDonalds this month! I find tracking my spending like this makes me much more thoughtful about the purchases I do make (except those McDonalds…) and the ‘total spent’ really makes me think. By the time my car bills come out I’ll be on about £550 for the month and maybe that sounds like a lot, but compared to some of my finance trackers last year it’s bloody brilliant!

Then we have the content plan – I was clearly optimistic about how many notes I was going to make on the right hand side of the page but overall the layout of these pages has been fairly consistent. Though I am trying something new in February…

And then we’re onto weekly spreads – I’m not going to show you every week because they all have the exact same layout with different tasks to do. I picked Week 2 because it had lots of ticks if I’m being brutally honest!

The thing I find works best for my productivity is having to make as few decisions as possible so I don’t spend time worrying about which tasks are priorities, so having the long weekly to do list broken down into day by day tasks is really good for me. If I’m feeling a bit unmotivated and run down sometimes I’ll even make a schedule where I have an hourly timetable and set myself tasks for each hour and that works really well too! Not only because I know exactly how my day is going to look but also because if there’s a big daunting task that I’m putting off, I know I only have to spend an hour on it and often I finish it in that hour and it’s not as bad as I thought!

And to conclude – my spread for this week. I also have digital to do lists so I can access my daily lists on my phone but they’re based off this spread (but I can add additional tasks as they pop up, for example I just made a dentist appointment for Thursday!).

In terms of ‘monthly organisation’ I like to count the weeks where months overlap as the last week of the month rather than the first week of the following month. I don’t know why but it just makes my mind happy.


Whenever I write about journalling I always end up rambling far more than I anticipate, but I love talking about organisation so let me know if there’s any other posts like this you’d like to see!

Thank you so much for reading,

Sophie xx

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