I would love to try Quicken 2007, but I think my computer’s a little too upgraded to run it. I saw some used copies for around $150 so it must be a pretty good program if people are still selling it that high.

Just check out the “Free Downloads” section of the site. I just added the 2012 version.

For that reason, I think it is worth the hassle of going through a month or two of actual manual tracking to see where your money is going. You can always go to Mint later when you have a better idea of what you spend your money on, but it is a valuable exercise to do at least once.

I agree that a large box of a months worth of receipts can be an intimidating task for most people. So doing it as you go or automating it can work better for many people. Personally I used to do my tracking weekly. So I had a pile of receipts but it was only a weeks worth. I can however see that some people might do better with a months worth all at once though.

Pick what works best for you.

One thing Trent doesn’t take into account is that your spouse & others in the family also need to get all their receipts into the box.

But, if you don’t want to take the time to set up Mint, or want to have all your details online, the benefit of using actual receipts instead of your bank statement & CC statements is that you’ll also be able to track literally every penny. Instead of just knowing you got $20 cash out of your bank account & now it’s gone. Those $20 withdrawals for cash in the pocket can add up pretty quickly.

I use a debit card for everything so it’s very detailed. Exactly how much I spent in every category. I watch it weekly so i can make adjustments if we’re getting close to my limit in any particular category. I love the reports and charts. I can see exactly how much I spent in a few different ways. Great for taxes too.

For this year’s budget, I printed out last year’s detailed report, subtracted bonus income as a hedge, divided by 12 to get actual average monthly expenditures for each of my categories.
Then we sat down and adjusted (vet bills will go down, but we need a “new” vehicle this year, etc.) This took us about 1 hour to discuss and agree. We’ll revisit as needed during the year.

I feel fantastic going into 2012.

My sister has just started showing interest in budgeting, but I think she’s still a bit overwhelmed by the idea of tracking every single penny. So I’m encouraging her to just track a few categories at first; like food, gas, eating out–areas where she’s pretty sure she’s overspending. Then once she gets into the habit she can add more.

That’s how I keep track – it takes all of the stress out. Plus not only does it break it down by month, but you can look at how it changes over time. AND you don’t have to worry about if a spouse else is or isn’t turning in all of their receipts.

When I first broke down my budget, I just looked at my bank statement online and did it off that. That lists absolutely everything – cash withdrawals, debit, checks. Just make a determination to not use ANY credit cards (or if that’s not practical, just use ONE credit card and look at that as well) for the month and your information will be parsed out for you electronically.

I know there are other similar services out there, but Mint works for me.