April is a great time to start monitoring how much you spend on a month by month basis, as here in England, it marks the beginning of Spring and a new tax year. Forget New Years resolutions – April is the best month to put the last year behind, draw a line under what was, and start afresh. I'm looking forwards to it, and I hope you can drop in from time to time to check how I am doing in my efforts to save for my next cycling expedition around the world.
Now that all the excitement of ordering an expedition bicycle is over, its time to get down to the serious business of saving money once more! Starting from the first of April (April Fools day – Is that good?), I will be once more monitoring how much I spend on a day by day basis. I will then be averaging this out over the month to see how much on average I spent a day. As this little daily spend money monitoring project continues, I will then be averaging out my spend on a month by month basis, and a daily spend averaged out over the year.
Whats the point of all this you might ask? Well, my basic philosophy when it comes to saving money, is that you first of all have to be realistic about what you are spending before you can work out what you can save. By keeping track of what I spend, i can identify areas that I can reduce my expenditure and then save more money through this.
A couple of important notes before the project starts – Firstly, I won't be saying how much I am saving, because that is my business, not yours!! Secondly, I will be documenting how much I spend out of my bank accounts and cash laying around in the house. The only thing that I wont be documenting, is what I spend from my PayPal account, as my writing payments go into there. I will, however, document if I should ever have to top the paypal account up.
One final note – I intend to keep track of my daily spend via a spreadsheet which I will embed into a web page. Theoretically, this should automatically update as I add lines into it, but it may have some teething problems!