Save money in ways you didn't expect

Use moneytrackin to tag the historical transactions downloaded in CSV format from your online banking website.

Looking through the statements, find keywords in the description of transactions that categorize them.

You can do this for any category of spending such as groceries, entertainment, food, business.... this allows you to see where it is the money is going out.

For example looking through my statement I found various repeating transactions from different poker venues and online sites:

16/02/2009,POS,"'4748 13FEB09 0000 , FULLTILTPOKER , .",-270.00,5964.02,"'Switch Account","'******",
17/03/2009,POS,"'4748 16MAR09 1956 , THE PUNCH TAVERN , LONDON",-11.75,2408.04,"'Switch Account","'*****",
28/07/2009,POS,"'4748 27JUL09 0000 , CASINO AT THE EMPI, LEICESTER SQ",-250.00,357.10,"'Switch Account","'********",
05/08/2009,C/L,"'4748 03AUG09 1442 , GCA* CIRCUS CIR , LAS VEGAS USA , USD 63.50, RATE 1.6892, ERTF 1.03, CHARGE 2.00",-40.62,1247.69,"'Switch Account","'*****",
23/11/2009,POS,"'4748 20NOV09 0000 , GROSVENOR , LONDON EDGEWARE RD",-80.00,555.62,"'Switch Account","'*******",

From this I added tags to be generated (on the Import page) from text as follows:

TEXT | TAG
––––––
GROSVENOR | POKER
CASINO | POKER
CIRCUS CIR | POKER
PUNCH | POKER
POKER | POKER

I now have a list of when I'm spending money on poker and exactly how much it is that I've been spending on it, and it was a real eye opener. I thought it was just a past time but it turns out it's my main outgoing..

Best of luck and I hope this helps you save some money!
Tags: analysis budget history money save statement tags transactions
Geplaatst op 02-12-2009 13:04 | 0 Commentaar | 0 Keer als favoriet toegevoegd | 0 keren gemarkeerd als ontoepasselijk
 

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