If you keep fairly close track of your budget, how do you separate out charges from a single transaction that should go into different categories? For example, we went to Target last week and bought some personal items, a gift for a friend's baby shower, and got cash back. Do you just put this into one category in Mint or a spreadsheet? I guess the only way to separate out the categories would be to keep all the receipts (ugh).
I often get cash back at the grocery store and hate for my groceries to look like they're $100+ a month more than they really are.
When I used mint I would use the split transaction function. I wasn't super careful about it, but I could usually remember that 30percent was food and 70 percent was household.
Post by quickstepstar on May 16, 2012 8:54:26 GMT -5
I break up the transactions by checking it against the recept. Before we were agressively saving for down payment, I just gave myself more in whatever category, so for instance Target would be Household supplies, and if I generally buy $150 worth of household supplies and $50 of other random crap, I would just make my category be $200. Right now we are aggressively saving and are on a VERY tight budget so I split everything as appropriate.
1. Target - I break out in mint to the best of my ability. I also have a general Target line item. (that i got crap for from sisugal when I posted my budget). 2. Cash generally has a purpose in our house- farmers market, DH lunches, etc. if it doesnt have a purpose, then I just put it in cash. It's usually 40-60 per month, so nothing crazy.
Did you see my "Lazy Budgeter" post yesterday? This is definitely not going to work for me.
I felt it was easier to have 2 seperate reciepts that than to screw around with mint trying to "fix" it. A swipe swipe is so much faster...for me that is ETA: Maybe I am just not that good at mint
Um, I lump everything into groceries/eating out for certain stores like Target, Sam's Club, CVS. It might belong to another line item like personal grooming stuff but I am too lazy to break it out.
It depends. When I, for example, get cash out at the ATM, I split the transaction. But if I'm going the grocery and pick up, oh, some random home decor thing--like candles or something--I just leave it in the food budget. I accept that some parts of the budget, like personal care products I regularly buy at the grocery store, are in the 'wrong' category. This is okay by me, as the idea for me is to generally be aware of my spending habits and know the implications of spending data.
If, though, I bought a major purchase--like a piece of furniture--at a grocery store, I'd separate that out so as not to skew the results.
Thanks. I haven't set up Mint yet and didn't realize it gave that option.
Mint does give the option, but you have to wait until the transaction is no longer pending. Then click on Edit and Split transaction. This is how I do it, and it's mostly for Target to split between groceries/household/gift, etc. I like to do this so I have a real understanding of how much we are spending in each. You only have to save the receipt until you enter in Mint, then throw it out. in fact, I often write out in the Notes (also under Edit Details) of the transaction how much in each category, and then throw out the receipt. Once the transaction is no longer pending, I split it.
I do think it would be pretty annoying to ring things up into separate categories. I always feel like people are waiting on me to get through the line.
Thanks. I haven't set up Mint yet and didn't realize it gave that option.
Mint does give the option, but you have to wait until the transaction is no longer pending. Then click on Edit and Split transaction. This is how I do it, and it's mostly for Target to split between groceries/household/gift, etc. I like to do this so I have a real understanding of how much we are spending in each. You only have to save the receipt until you enter in Mint, then throw it out. in fact, I often write out in the Notes (also under Edit Details) of the transaction how much in each category, and then throw out the receipt. Once the transaction is no longer pending, I split it.
I do think it would be pretty annoying to ring things up into separate categories. I always feel like people are waiting on me to get through the line.
I will separate out in the notes section in Mint a lot, but sometimes the notes are deleted, which is annoying. But, basically I save receipts until they are separated in Mint. For us, this mostly applies to Target and Costco, and occassionally the grocery if we buy cat litter there, for example. I just ballpark everything usually. For cash back, I try to note what it was used for. We rarely get cash and there is usually a specific purpose for it, so this doesn't take extra time.
When I used mint I would use the split transaction function. I wasn't super careful about it, but I could usually remember that 30percent was food and 70 percent was household.
This is pretty much what I do. Splitting it up in Mint takes a minute and that's perfect for this also lazy budgeter.
Virtually everything I buy at Target gets lumped in the grocery category. This has majorly helped me with the "dump random things in the cart" problem as my grocery budget is about $600 per month.
Are you the lady that was in front of me in line in Target yesterday? If so, you don't get to use the express line if you have two separate purchases with ten items each (just kidding - I am still bitter that I got stuck behind this woman though).
OP, I split them out in mint. Usually not down to the penny, but approximate percentages/values.