Tracked every dollar for 3 months and saw where $1,200 went missing

I always guessed my expenses but last quarter I actually logged everything I spent for my painting gig. Turns out I was dropping about $100 a week just on random supplies from the hardware store that I didn't really need. Half of it was stuff I already had in the truck. Anyone else ever run the numbers and get surprised by where your money actually goes?

3 comments

3 Comments

ben_fisher10d agoMost Upvoted

Used to think tracking was overkill for a gig like mine, but you two convinced me. I would just grab whatever I felt like on the way to a job and never questioned it. That whiteboard trick on the dash sounds simple enough to actually stick with, and the Friday photo idea is even better because it forces you to be honest with yourself. Never thought about snapping a pic of my truck bed to remind me what's already there. Now I'm wondering how much cash I've burned on duplicate tools and paint I forgot I had. Kind of embarrassing when you add it all up.

william_craig710d ago

Gotta push back a little on that whiteboard idea - it sounds great but you gotta remember to actually look at it before you leave, otherwise it's just a piece of plastic collecting dust. I tried something similar with a checklist on my phone but kept ignoring it because I was rushing out the door. What really helped me was taking 5 minutes every Friday to just peek in my truck and snap a photo of what I had left over from the week. That way I couldn't lie to myself about what was in there when I was at the checkout counter. Still, props to you for sticking with the tracking thing, most people give up after a week.

kelly_rivera10d agoMost Upvoted

Same thing happened to me when I started tracking. I was grabbing extra brushes, rollers, and tape every week without even looking in the van first. Got a small whiteboard and stuck it on the dash to write down what I actually had in stock before heading to the store. That alone cut my supply spending by half in the first month. Also started keeping the receipts in a shoebox and going through them on Sunday nights. Seeing it all in one place really wakes you up.