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Author: Gingko100 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308360  
Subject: Re: Bankrupt or try to 'gut it out'? Date: 11/4/2012 11:13 AM
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*****We don't keep track of the expenses. Since she has more time on her hands, and it is better at organization, I thought this might be something she could do for the family.
A few points...

1. Keeping track of expenses is absolutely critical. Once you do this, and track it against a budget I can almost guarantee you that the result will be like getting a raise. All of us waste money in dribs and drabs, and it's only by tracking it that you can identify it. And once identified you can control it.

2. You both need to track expenses. If you mean she should track the regular bills, well sure - you can mutually decide that might be her responsibility. But you spend money she doesn't know of and vice versa. You might fill the car with gas paying cash. Or you might buy lunch out, or pick up band-aids at a drugstore on your way home from work, or whatever. Point being that each one of you spends, and so each one of you needs to track those pesky cash expenditures that are often the leaks in the financial boat.
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