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I started "tracking where every penny goes" in early 2004. (I put that in quotes because there are times I've screwed up; I am currently missing a little over $200. But in the grand scheme of things I'm really not doing all that badly.)
I'm still reworking my categories for expenses. The more accurately they reflect my motivation for buying a thing, the better will be my ability to make budget decisions.
I just created a new category: Social Life. The bottle of wine I bring to a friend's party is not under Groceries:Wine, because I'm not buying it in order to have wine to drink. The pizza I order for the friends watching a movie at my house is not under Dining Out:Dinner, because I never order two large pizzas for dinner. These things are expenditures I make for their value in my social life. When I look at the budget later, instead of saying "Yikes, no more $45 meals", I'll probably say "ah yes, those items there are worth it".
I'm still reworking my categories for expenses. The more accurately they reflect my motivation for buying a thing, the better will be my ability to make budget decisions.
I just created a new category: Social Life. The bottle of wine I bring to a friend's party is not under Groceries:Wine, because I'm not buying it in order to have wine to drink. The pizza I order for the friends watching a movie at my house is not under Dining Out:Dinner, because I never order two large pizzas for dinner. These things are expenditures I make for their value in my social life. When I look at the budget later, instead of saying "Yikes, no more $45 meals", I'll probably say "ah yes, those items there are worth it".
Re: categories
Cake to a dance is Square Dancing. Cake brought to potluck is Social Life (because bringing it is the price of admission). Cake fixings are Hobbies:Baking unless it is for a friend's birthday in which case it might be Gifts.
Light bulbs are Household. Batteries are Household unless they relate to something permanently installed, like a garage door opener, in which case they're Home Maintenance:Minor. I don't know why. Vitamins are Personal Care. Socks, and yes I buy those at the grocery store (maybe that's why they don't fit!), are Clothing.
Snack food is Groceries:Snacks and food for meals is Groceries:Meal Food. Cards are likely to be Gifts, food or litter for the cats is Pets, and wine is either Groceries:Wine or Social Life. Fortune magazine would be an investment education sort of thing, and I don't have a good category for that; I need one. Binaca for a Binaca Blaster Cannon is Entertainment.
Then there's anything I'm picking up for Rob because he hates grocery shopping -- those are "[Rob]" indicating it goes on his account. The worst receipts for me to go through and categorize are grocery store receipts!