STUDENT HANDOUT 1A

PROJECT 1 OVERVIEW: EXPENSE TRACKING

HOW DO I SPEND MY MONEY?

The first step in creating a budget is to track your daily expenses. In this assignment, you will:

Identify expenses incurred over the course of one month

Include the date of the expense, a brief identification, and how much was spent
Determine how you would like to categorize or group your expenses
Sort and compile tracked expenses into these groups

It is easy to remember how much money you spend on fixed expenses like rent or car payments.
Variable expenses can be more difficult.

ASSIGNMENT INSTRUCTIONS

Using the 30-Day Expense Tracking Worksheet (Student Handout 1B), write down all expenses you
incur during a 30-day period. At the end of the month, total your expenses on the Expense Totals
Worksheet (Student Handout 1C)

Only write down transactions for goods or services.

Do not write down ATM cash withdrawals. As you spend the cash you withdrew, record each
transaction in your worksheet.
If you have difficulty remembering how much you have spent, use an envelope to keep track
of receipts.
If you make a purchase that does not provide a receipt, use a scrap of paper to write it down
and put it inside the envelope.
On days that you do not incur expenses, write “none” and put a 0 (zero) in the amount
column.
If you are on a meal plan, divide the cost of your plan by the number of days in your billing
cycle. (For instance, if you pay monthly for your meal plan, you’d divide the monthly cost by
30 to find your daily expense.)
Use the categories listed at the top of your worksheet to label your expenses. If you do not see
one that adequately describes the purchase, feel free to use your own. Make sure you add it
to the bottom of the list under “other.” This will be an important element when we start
building your budget.
Remember that this exercise is setting a baseline for your future budget. Spend as you would
normally spend so that you can get an accurate picture of your spending behavior.
 STUDENT HANDOUT 1B

PROJECT 1 ACTIVITY

30-DAY EXPENSE TRACKING WORKSHEET

POSSIBL E EXPENSE CAT EGORIES
Groceries Dining Out Gas Entertainment Car Payment Car Repair Car Insurance
Gifts Rent Renters Insurance Health Insurance Utilities School Clothing Credit Cards
Loans Pet Expenses Savings Hair/Nails Fees or Dues Other

Day 1 06/01 Day 2 07/01 Day 3 08/01

Expense Name Amount Expense Name Amount Expense Name Amount

Dining out none Dining out 42k

____________ _____________
50k ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

Day 4 09/01 Day 5 10/01 Day 6 11/01

Expense Name Amount Expense Name Amount Expense Name Amount

Dining out Dining out 53k Transport 16k
____________ _____________
83k ____________ _____________ ____________ _____________
Gift
____________ 50k
_____________ ____________ _____________ Phone utilities_____________
____________ 30k

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

 STUDENT HANDOUT 1B

PROJECT 1 ACTIVITY: 30-DAY EXPENSE TRACKING WORKSHEET (CONTINUED)

Day 7 12/01 Day 8 13/01 Day 9 14/01

Expense Name Amount Expense Name Amount Expense Name Amount

Transport _____________
35k Dining out _____________
79k Dining out
____________ ____________ ____________ _____________
38k

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

Day 10 15/01 Day 11 16/01 Day 12 17/01

Expense Name Amount Expense Name Amount Expense Name Amount

Entertainment_____________
____________ 184k ____________ 44k
Groceries _____________ Dining out _____________
____________ 127k
Enter
____________
Dining out _____________
47k ____________ _____________
30k ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

Day 13 18/01 Day 14 19/01 Day 15 20/01

Expense Name Amount Expense Name Amount Expense Name Amount

Dining 42k + 30 school 50k none
____________ _____________ ____________ _____________ ____________ _____________

____________
Enter _____________
30k ____________
transport _____________
53k ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

STUDENT HANDOUT 1B
PROJECT 1 ACTIVITY: 30-DAY EXPENSE TRACKING WORKSHEET (CONTINUED)

Day 16 21/01 Day 17 22/01 23-25: none Day 18 26/01 27/1: none
Expense Name Amount Expense Name Amount Expense Name Amount
dining 35k hair
____________
none _____________ ____________ _____________ ____________ _____________
60k
utilities 100k
____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

Day 19 28/01 29/1 - 2/2: none Day 20 3/2 Day 21 4/2 5-6/2: none

Expense Name Amount Expense Name Amount Expense Name Amount

____________
utilities _____________
100k ____________
gift _____________
76k ____________
dine _____________
50k

____________ _____________ ____________

enter 2k
_____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

11/2 inflow 2M
Day 22 7/2 8-10/2: none Day 23 13/2: none Day 24 14/2
12/2
Expense Name Amount Expense Name Amount Expense Name Amount

enter
____________ _____________
500k ____________
transport _____________
38k ____________
transport _____________
33k
transport
____________ _____________
250k dine
____________ _____________
42k ____________ _____________

____________ _____________ clothing

____________ _____________
109k ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

STUDENT HANDOUT 1B

PROJECT 1 ACTIVITY: 30-DAY EXPENSE TRACKING WORKSHEET (CONTINUED)

Day 25 15/2 Day 26 17/2 Day 27 19/2

Expense Name Amount Expense Name Amount Expense Name Amount

____________
enter 30k
_____________ ____________
dine 47k
_____________ transport
____________ 60k
_____________
transport 40k school 135k
____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ strawber _____________

____________ 130k enter
____________ 561k
_____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

Day 28 20/2 Day 29 21/2 Day 30 24/2

Expense Name Amount Expense Name Amount Expense Name Amount

school 2k 103k
transport _____________ 250k
transport _____________
____________ _____________ ____________ ____________
150k
transport _____________ dine 122k
____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

____________ _____________ ____________ _____________ ____________ _____________

 STUDENT HANDOUT 1C

PROJECT 1 ACTIVITY

30-DAY EXPENSE TOTALS WORKSHEET (Unit: VND)

Groceries $________________
144k Cell Phone $________________
30k

Dining Out $________________

676k Credit Cards $________________
0

Gas $________________
0 Loans $________________
0

Entertainment $________________
286k Pet Expenses $________________
0

Car Payment $________________

0 Savings 600k
$________________

Car Repair $________________

0 Hair/Nails 60k
$________________

Car Insurance $________________

0 Fees or Dues $________________
0

Gifts 126k
$________________ Other $________________
104k transport

Rent $________________
0 $________________

Renters Insurance $________________

0 $________________

Health Insurance $________________

0 $________________

Utilities 200k
$________________ $________________

School $________________
100k

Clothing 0
$________________ Total 2.326.000
$________________
 STUDENT HANDOUT 1D

PROJECT 1 ACTIVITY

30-DAY EXPENSE TRACKING ESSAY

In a one- to two-page reflective essay, typed and double-spaced, answer the following questions.
Make sure you proof the essay for grammar and word usage mistakes.

What challenges did you encounter with the assignment?

How frequently did you record your transactions?
Were you surprised by any of your spending habits?
How would you summarize how you spend your money?
Will you change your spending behavior? If so, how?