Radical Financial Transparency
Courtney and I have decided to publicly expose the daily details of our finances!
Deeper transparency is in the pipeline, but for now you’re able to see the last several months of income and expenses, our full account balances, our discretionary budget categories, and our overall debt totals!
These widgets are updated daily as we enter our data into our PocketSmith account, so you’ll be able to see our successes and failures as they emerge.
New Zealand Transactions
| Description | Amount | Amount
(USD) | Date |
|---|
| Grocery | $-89.81 | $-62.70 | Wed 30 September 2009 |
| Internet Cafe | $-5.50 | $-3.84 | Wed 30 September 2009 |
| Internet Cafe | $-10.00 | $-6.98 | Tue 29 September 2009 |
| Bond - Water | $-120.00 | $-83.77 | Mon 28 September 2009 |
| Water - Connect Fee | $-30.00 | $-20.94 | Mon 28 September 2009 |
| Grocery | $-115.71 | $-80.78 | Sun 27 September 2009 |
| Teaching | $1,036.04 | $723.26 | Wed 23 September 2009 |
| Rent | $-300.00 | $-209.43 | Wed 23 September 2009 |
| Leasing Fee | $-336.50 | $-234.91 | Wed 23 September 2009 |
| Bond - Lease | $-900.00 | $-628.29 | Wed 23 September 2009 |
| Grocery | $-92.16 | $-64.34 | Wed 16 September 2009 |
| Description | Amount | Amount
(USD) | Date |
|---|
| Grocery | $-45.00 | $-31.41 | Sat 31 October 2009 |
| Driver's License | $-44.30 | $-30.93 | Fri 30 October 2009 |
| MexiCali | $-23.50 | $-16.41 | Fri 30 October 2009 |
| Grocery | $-24.25 | $-16.93 | Thu 29 October 2009 |
| Rent | $-300.00 | $-209.43 | Thu 29 October 2009 |
| Train | $-4.30 | $-3.00 | Sun 25 October 2009 |
| Clothing | $-2.00 | $-1.40 | Sun 25 October 2009 |
| Burger Fuel | $-8.90 | $-6.21 | Sun 25 October 2009 |
| Orcon | $-139.18 | $-97.16 | Sat 24 October 2009 |
| Banking Fees | $-4.00 | $-2.79 | Sat 24 October 2009 |
| Water | $-34.44 | $-24.04 | Sat 24 October 2009 |
| Train | $-7.60 | $-5.31 | Sat 24 October 2009 |
| Grocery | $-92.35 | $-64.47 | Sat 24 October 2009 |
| Print Paperwork | $-2.50 | $-1.75 | Thu 22 October 2009 |
| Teaching | $869.20 | $606.79 | Wed 21 October 2009 |
| Subway | $-8.10 | $-5.65 | Wed 21 October 2009 |
| Rent | $-300.00 | $-209.43 | Wed 21 October 2009 |
| Grocery | $-31.47 | $-21.97 | Wed 21 October 2009 |
| Grocery | $-26.60 | $-18.57 | Tue 20 October 2009 |
| Dance Classes | $-100.00 | $-69.81 | Mon 19 October 2009 |
| 2 x Tanktop | $-30.00 | $-20.94 | Sun 18 October 2009 |
| Cleaning Supplies | $-14.20 | $-9.91 | Sun 18 October 2009 |
| Bus | $-1.60 | $-1.12 | Sat 17 October 2009 |
| Grocery | $-119.50 | $-83.42 | Sat 17 October 2009 |
| Rent | $-300.00 | $-209.43 | Fri 16 October 2009 |
| Train Pass | $-105.00 | $-73.30 | Wed 14 October 2009 |
| Cup + Chapstick | $-9.50 | $-6.63 | Wed 14 October 2009 |
| Laundrymat | $-20.00 | $-13.96 | Wed 14 October 2009 |
| Subway | $-10.80 | $-7.54 | Tue 13 October 2009 |
| HipHop Dance | $-15.00 | $-10.47 | Sat 10 October 2009 |
| Movie Rental | $-10.00 | $-6.98 | Sat 10 October 2009 |
| Teaching | $1,525.99 | $1,065.29 | Thu 8 October 2009 |
| Train | $-2.80 | $-1.95 | Thu 8 October 2009 |
| Flowers | $-5.99 | $-4.18 | Wed 7 October 2009 |
| Grocery | $-41.21 | $-28.77 | Wed 7 October 2009 |
| Rent | $-300.00 | $-209.43 | Tue 6 October 2009 |
| Grocery | $-4.00 | $-2.79 | Tue 6 October 2009 |
| Pizza Hut | $-7.90 | $-5.51 | Mon 5 October 2009 |
| HipHop Dance | $-15.00 | $-10.47 | Mon 5 October 2009 |
| Laundrymat | $-20.00 | $-13.96 | Mon 5 October 2009 |
| Kitchenware | $-8.00 | $-5.58 | Mon 5 October 2009 |
| Grocery | $-17.65 | $-12.32 | Mon 5 October 2009 |
| Library Bond | $-70.00 | $-48.87 | Sun 4 October 2009 |
| Milligan Pants | $-10.00 | $-6.98 | Sun 4 October 2009 |
| Wendys | $-6.40 | $-4.47 | Sun 4 October 2009 |
| Grocery | $-43.20 | $-30.16 | Sun 4 October 2009 |
| Baby Wipes | $-3.70 | $-2.58 | Sat 3 October 2009 |
| Grocery | $-53.20 | $-37.14 | Sat 3 October 2009 |
| Bond - Electric | $-95.00 | $-66.32 | Fri 2 October 2009 |
| Fee - Electric | $-20.00 | $-13.96 | Fri 2 October 2009 |
| Rent | $-300.00 | $-209.43 | Fri 2 October 2009 |
| Banking Fees | $-7.00 | $-4.89 | Fri 2 October 2009 |
| Internet Cafe | $-4.00 | $-2.79 | Fri 2 October 2009 |
| HipHop Dance | $-15.00 | $-10.47 | Fri 2 October 2009 |
| Burger Fuel | $-12.90 | $-9.01 | Fri 2 October 2009 |
| Internet Cafe | $-10.00 | $-6.98 | Thu 1 October 2009 |
| Description | Amount | Amount
(USD) | Date |
|---|
| Orcon | $-96.88 | $-67.63 | Sun 29 November 2009 |
| Jet Star Christchurch | $-118.00 | $-82.38 | Sat 28 November 2009 |
| Bank Fee | $-2.00 | $-1.40 | Sat 28 November 2009 |
| Pearl Jam | $-22.50 | $-15.71 | Fri 27 November 2009 |
| Subway | $-9.40 | $-6.56 | Thu 26 November 2009 |
| Transport | $-5.60 | $-3.91 | Thu 26 November 2009 |
| Haircut | $-25.00 | $-17.45 | Tue 24 November 2009 |
| Rent | $-300.00 | $-209.43 | Tue 24 November 2009 |
| Easy Energy | $-66.27 | $-46.26 | Mon 23 November 2009 |
| Pharmacy | $-22.00 | $-15.36 | Mon 23 November 2009 |
| Grocery | $-102.43 | $-71.51 | Mon 23 November 2009 |
| Grocery | $-16.51 | $-11.53 | Sun 22 November 2009 |
| Car Rental | $-81.60 | $-56.96 | Sun 22 November 2009 |
| Subway | $-9.40 | $-6.56 | Sun 22 November 2009 |
| Mrs. Higgins | $-1.60 | $-1.12 | Sat 21 November 2009 |
| Clothing | $-18.00 | $-12.57 | Fri 20 November 2009 |
| Water | $-66.27 | $-46.26 | Fri 20 November 2009 |
| School Ex. | $-111.30 | $-77.70 | Fri 20 November 2009 |
| Grocery | $-96.80 | $-67.58 | Thu 19 November 2009 |
| Rent | $-300.00 | $-209.43 | Thu 19 November 2009 |
| Teaching | $3,326.66 | $2,322.34 | Wed 18 November 2009 |
| Warehouse | $-6.30 | $-4.40 | Tue 17 November 2009 |
| Grocery | $-54.00 | $-37.70 | Tue 17 November 2009 |
| Transport | $-105.00 | $-73.30 | Mon 16 November 2009 |
| Movies | $-12.70 | $-8.87 | Mon 16 November 2009 |
| Grocery | $-48.00 | $-33.51 | Sun 15 November 2009 |
| Bus | $-17.20 | $-12.01 | Sun 15 November 2009 |
| Grocery | $-5.40 | $-3.77 | Sun 15 November 2009 |
| Pearl Jam | $-181.00 | $-126.36 | Sun 15 November 2009 |
| Cell Phone | $-20.00 | $-13.96 | Sun 15 November 2009 |
| Bus | $-6.40 | $-4.47 | Sat 14 November 2009 |
| Movies | $-10.00 | $-6.98 | Fri 13 November 2009 |
| Ice Cream | $-6.00 | $-4.19 | Fri 13 November 2009 |
| Gift | $-5.00 | $-3.49 | Fri 13 November 2009 |
| Rent | $-300.00 | $-209.43 | Thu 12 November 2009 |
| Grocery | $-106.80 | $-74.56 | Thu 12 November 2009 |
| Cookies | $-4.60 | $-3.21 | Wed 11 November 2009 |
| Internet Cafe | $-15.00 | $-10.47 | Wed 11 November 2009 |
| Subway | $-10.80 | $-7.54 | Wed 11 November 2009 |
| Pizza | $-13.50 | $-9.42 | Mon 9 November 2009 |
| Grocery | $-22.15 | $-15.46 | Sun 8 November 2009 |
| Clothes | $-35.00 | $-24.43 | Sat 7 November 2009 |
| Scrapbooking | $-30.00 | $-20.94 | Sat 7 November 2009 |
| Grocery | $-130.27 | $-90.94 | Fri 6 November 2009 |
| Pizza | $-13.50 | $-9.42 | Thu 5 November 2009 |
| Teaching | $1,326.66 | $926.14 | Wed 4 November 2009 |
| Electric | $-68.57 | $-47.87 | Wed 4 November 2009 |
| Rent | $-300.00 | $-209.43 | Wed 4 November 2009 |
| Grocery | $-15.00 | $-10.47 | Tue 3 November 2009 |
| Warehouse | $-42.66 | $-29.78 | Tue 3 November 2009 |
| Blow | $-17.60 | $-12.29 | Tue 3 November 2009 |
| Bank Fee | $-3.00 | $-2.09 | Mon 2 November 2009 |
| Grocery | $-75.91 | $-52.99 | Sun 1 November 2009 |
| Train | $-5.20 | $-3.63 | Sun 1 November 2009 |
| Subway | $-10.80 | $-7.54 | Sun 1 November 2009 |
| Description | Amount | Amount
(USD) | Date |
|---|
| South Island Transport | $-69.60 | $-48.59 | Thu 31 December 2009 |
| Post Office | $-80.00 | $-55.85 | Thu 31 December 2009 |
| Banking Fee | $-1.50 | $-1.05 | Thu 31 December 2009 |
| South Island Internet | $-70.40 | $-49.15 | Thu 31 December 2009 |
| South Island Leisure | $-514.10 | $-358.89 | Thu 31 December 2009 |
| South Island Petrol | $-485.08 | $-338.63 | Thu 31 December 2009 |
| South Island Food | $-655.70 | $-457.74 | Thu 31 December 2009 |
| South Island Accomodation | $-576.00 | $-402.11 | Thu 31 December 2009 |
| Currency Exchange | $-670.00 | $-467.73 | Thu 31 December 2009 |
| Christmas | $-105.00 | $-73.30 | Thu 31 December 2009 |
| Bosco | $39.94 | $27.88 | Tue 29 December 2009 |
| Easy Energy | $10.09 | $7.04 | Tue 29 December 2009 |
| School Reimbursement | $111.30 | $77.70 | Tue 29 December 2009 |
| Tow Truck | $-685.00 | $-478.20 | Mon 28 December 2009 |
| Rent Fire Alarm Fee | $-246.38 | $-172.00 | Wed 16 December 2009 |
| Transport | $-5.60 | $-3.91 | Wed 16 December 2009 |
| South Island Car Rental | $-630.00 | $-439.80 | Wed 16 December 2009 |
| Shoes | $-8.00 | $-5.58 | Wed 16 December 2009 |
| Travel Needs | $-40.80 | $-28.48 | Wed 16 December 2009 |
| Teaching | $3,166.66 | $2,210.65 | Tue 15 December 2009 |
| Subway | $-9.60 | $-6.70 | Tue 15 December 2009 |
| Eating Out | $-9.00 | $-6.28 | Tue 15 December 2009 |
| Classroom reimbursement | $111.30 | $77.70 | Tue 15 December 2009 |
| Post Office | $-7.49 | $-5.23 | Mon 14 December 2009 |
| Library Refund | $-40.00 | $-27.92 | Mon 14 December 2009 |
| Umbrella | $-10.00 | $-6.98 | Mon 14 December 2009 |
| Staff Function | $-9.00 | $-6.28 | Mon 14 December 2009 |
| Grocery | $-30.00 | $-20.94 | Sun 13 December 2009 |
| Movies | $-10.00 | $-6.98 | Sat 12 December 2009 |
| Prints | $-5.50 | $-3.84 | Fri 11 December 2009 |
| Vaccinations | $-125.00 | $-87.26 | Fri 11 December 2009 |
| Transport | $-3.20 | $-2.23 | Fri 11 December 2009 |
| Movies | $-10.00 | $-6.98 | Fri 11 December 2009 |
| Dominos | $-7.90 | $-5.51 | Fri 11 December 2009 |
| Mexican Cafe | $-50.00 | $-34.91 | Thu 10 December 2009 |
| Beach Ball | $-7.00 | $-4.89 | Wed 9 December 2009 |
| Gift | $-8.90 | $-6.21 | Tue 8 December 2009 |
| Grocery | $-51.00 | $-35.60 | Mon 7 December 2009 |
| Transport | $-15.60 | $-10.89 | Sun 6 December 2009 |
| Movenpick ice cream | $-14.00 | $-9.77 | Sun 6 December 2009 |
| Kelly Tarltons | $-28.30 | $-19.76 | Sat 5 December 2009 |
| Rubiks | $-25.97 | $-18.13 | Sat 5 December 2009 |
| Grocery | $-67.25 | $-46.95 | Thu 3 December 2009 |
| Burger Fuel | $-14.70 | $-10.26 | Thu 3 December 2009 |
| Thailand Loneyl Planet | $-20.00 | $-13.96 | Thu 3 December 2009 |
| Bosco | $-60.97 | $-42.56 | Thu 3 December 2009 |
| Grocery | $-99.24 | $-69.28 | Tue 1 December 2009 |
| Grocery | $-43.78 | $-30.56 | Tue 1 December 2009 |
| Home Upkeep | $-64.25 | $-44.85 | Tue 1 December 2009 |
| Pictures | $-3.40 | $-2.37 | Tue 1 December 2009 |
| Subway | $-17.00 | $-11.87 | Tue 1 December 2009 |
| Bank fee | $-3.00 | $-2.09 | Tue 1 December 2009 |
| Teaching | $1,326.66 | $926.14 | Tue 1 December 2009 |
| Rent | $-300.00 | $-209.43 | Tue 1 December 2009 |
Balance: $2,873.06 NZD ($2,005.68 USD)
As at Thu 14 January 2010
| Description | Amount | Date |
|---|
| Aweber | $-1.00 | Mon 21 September 2009 |
| GoDaddy | $-14.99 | Sun 20 September 2009 |
| Skype | $-12.95 | Thu 17 September 2009 |
| Description | Amount | Date |
|---|
| Insurance Rebate | $27.50 | Sat 31 October 2009 |
| Freelance | $550.00 | Sat 31 October 2009 |
| Fee Reversals | $60.00 | Fri 30 October 2009 |
| ING Affiliate | $10.00 | Tue 27 October 2009 |
| Bank Fee | $-20.00 | Fri 23 October 2009 |
| BMV | $-8.00 | Wed 21 October 2009 |
| GoDaddy | $-14.99 | Mon 19 October 2009 |
| Aweber | $-19.00 | Mon 19 October 2009 |
| GoDaddy | $-7.17 | Sat 17 October 2009 |
| Sallie Mae | $-260.86 | Wed 14 October 2009 |
| Citibank | $-50.02 | Mon 12 October 2009 |
| Skype | $-12.95 | Mon 12 October 2009 |
| GoDaddy | $-7.17 | Sun 11 October 2009 |
| Affiliate - ZH | $4.98 | Tue 6 October 2009 |
| Skype | $-5.00 | Sat 3 October 2009 |
| Freelance | $16.32 | Fri 2 October 2009 |
| PayPal | $-0.77 | Fri 2 October 2009 |
| Sallie Mae - A | $-56.60 | Thu 1 October 2009 |
| Sallie Mae - R | $-58.51 | Thu 1 October 2009 |
| Description | Amount | Date |
|---|
| ING | $1.52 | Mon 30 November 2009 |
| Skype | $-12.29 | Fri 27 November 2009 |
| Freelance | $600.00 | Fri 27 November 2009 |
| Immigration NZ | $-97.88 | Tue 24 November 2009 |
| Skype | $-13.21 | Fri 20 November 2009 |
| Aweber | $-19.00 | Fri 20 November 2009 |
| Skype | $-12.29 | Wed 18 November 2009 |
| Student Loans | $-403.64 | Wed 18 November 2009 |
| PB Forum | $-5.95 | Tue 17 November 2009 |
| Godaddy | $-14.99 | Sun 15 November 2009 |
| TradeMe | $-8.37 | Thu 12 November 2009 |
| Coaching | $-150.00 | Tue 10 November 2009 |
| Untemplater | $-55.00 | Tue 10 November 2009 |
| Jetstar | $-1,531.95 | Fri 6 November 2009 |
| Affiliate - Thesis | $140.25 | Mon 2 November 2009 |
| Sallie Mae - R | $-58.51 | Mon 2 November 2009 |
| Sallie Mae - A | $-56.50 | Mon 2 November 2009 |
| Freelance | $29.20 | Mon 2 November 2009 |
| Affiliate - CG | $40.29 | Mon 2 November 2009 |
| PayPal | $-1.15 | Mon 2 November 2009 |
| ING | $4.10 | Sun 1 November 2009 |
| Description | Amount | Date |
|---|
| World Nomads | $-343.00 | Thu 31 December 2009 |
| Melbourne Rental | $-748.31 | Thu 31 December 2009 |
| Affiliate - Thesis | $140.25 | Thu 31 December 2009 |
| Freelance | $43.14 | Wed 30 December 2009 |
| Untemplater Refund | $87.72 | Wed 30 December 2009 |
| Internet | $-8.84 | Wed 30 December 2009 |
| PayPal | $-1.55 | Wed 30 December 2009 |
| Freelance | $600.00 | Tue 29 December 2009 |
| Sallie Mae | $-207.77 | Mon 28 December 2009 |
| NZAA Towing | $-68.73 | Mon 28 December 2009 |
| SxSw | $-25.00 | Sun 27 December 2009 |
| Aweber | $-19.00 | Mon 21 December 2009 |
| Franz Josef Hostel | $-39.26 | Mon 21 December 2009 |
| Gift | $300.00 | Mon 21 December 2009 |
| GoDaddy | $-14.99 | Sun 20 December 2009 |
| Skype | $-13.21 | Fri 18 December 2009 |
| Problogger.com | $-5.95 | Thu 17 December 2009 |
| Vimeo Premium | $-59.95 | Thu 17 December 2009 |
| IND Sec. of State | $-87.72 | Wed 16 December 2009 |
| Citibank | $-50.12 | Wed 16 December 2009 |
| Auckland Motel | $-59.10 | Wed 16 December 2009 |
| Eating Out | $-9.60 | Wed 16 December 2009 |
| ivyLime Designs | $-180.00 | Tue 15 December 2009 |
| CrazyEgg | $-9.00 | Mon 14 December 2009 |
| Sallie Mae | $-168.20 | Thu 10 December 2009 |
| ivyLime Designs | $-150.00 | Wed 9 December 2009 |
| Acumen | $-10.00 | Wed 2 December 2009 |
| Student Loans | $-115.11 | Wed 2 December 2009 |
| PayPal | $-0.75 | Tue 1 December 2009 |
| PayPal | $-5.25 | Tue 1 December 2009 |
| Affiliate - CG | $170.85 | Tue 1 December 2009 |
| Freelance | $15.64 | Tue 1 December 2009 |
Balance: $3,705.24 USD
As at Thu 31 December 2009
While mobile over the next few months our traditional ‘discretionary’ categories are going to be fewer. However, below, you can still see some of the broad categories we are trying to keep in check.
Man Vs. Debt - "Discretionary Spending Budget"
Business Upkeep
Mon 1 February 2010 to Sun 28 February 2010Special thanks to the PocketSmith team for building the 2 automatic widgets above!
Our Remaining Debt
| Debt Code Name | Outstanding Amount | Interest Rate |
| Sallie Mae Alpha Unit | $15,400 | 5.9% |
| Sallie Mae Beta Unit | $11,300 | 6.1% |
| Sallie Mae Gamma Unit | $7,350 | 5.8% |
| Nellie Mae Airborne Division | $5,600 | 5.5% |
| Citibank Guerrilla Troops | $4,700 | 4.4% |
| Sallie Mae Delta Unit | $3,400 | 5.9% |
| Sallie Mae Special Forces | $3,300 | 9.3% |
| Sallie Mae Scouting Party | $1,100 | 2.5% |
Note: For those of you that don’t know, back in the first week of this blog I gave military-sounding codenames to our remaining debt. I’ve decided to keep them… I kind of like the way they sound!
If you are interested in how we plan to attack this debt (including the order of the loans), check out our most recent ‘State of the War’ update.
Share your thoughts!
What do you think about this concept? What features or information would you like to see added? This is a permanent page, so let everyone know your feedback!
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{ 57 comments… read them below or add one }
Wow, awesome.
Like you said… this WILL greatly increase your ability to “stick to it” Baker. You will question every purchase, which is what we should all be doing anyway. Bravo.
Thanks be to PocketSmith for their hard work in helping you implement this system, it looks sweet. Bravo again.
That’s what I’m pulling for!
Not to be discouraging, but to give you a viewer’s perspective. Here’s my checking account transaction sheet (as a screenshot showing the last couple weeks or so):
http://farm3.static.flickr.com/2538/3971304351_7f0972e909_o.png
If I made it update automatically, showing you all transactions from the current date back through whenever I decided to start it, would you come back and look at it regularly? If so, why? If not, why not? What could I add to it that would make it useful to you? I’m thinking there might be a correlation between what you find interesting about my finances, and what I find interesting about yours.
Actually this is a fairly good perspective. If you were to only show a log of your expenses and nothing else, I’d probably never check back. However I’m hoping to offer more than that. Also, my goal isn’t to have you come back on a daily basis (that’s kind of freaky).
Having people stop by every month or couple of months, or having new people stumble upon this page and get inspired IS more of my goal. Also, I’m planning on getting some accountability just from knowing this is public.
If I felt personally close enough to you to care about your financial goals, etc… (which isn’t too unrealistic), I’d definitely check back in. Although, you’d need to make that checking log a little more pretty
.
Well, ok, I based it on your current page, not your planned future page, which pretty much only has a log of expenses (and % budget used, which is oddly all 0, even though there’s obviously purchases that fit into these categories in the expense log).
And blame Washington Mutual/Chase for the ugliness. It’s a screenshot of their site
%’s start in October! So they all start fresh each ‘event cycle’, which for me is monthly.
I like this concept. It creates more accountability (or percievedf accountability) for you and may generate productive discussion for everyone.
What’s up with those internet cafe charges, Baker? Can you not find internet service?
Don’t freakin’ get me started, man. Just suffice to say, I do not have internet at the apartment yet… o.O
I wish that you were more like us… this is inspirational, but with your travels, it is hard to draw the parallel to our life. We’re more run-of-the-mill – my husband is a teacher, I have a corporate job, we live in a 1967 ranch home, send our first of 2 kids to public school, the other to daycare… I would REALLY be interested the transparency of a similar family and in seeing what someone more like us could accomplish while applying your techniques and tenacity – who knows… maybe I just descibed our financial picture in the next few months.
I know what you mean, Ginny. Our finances were much more ‘normal’ 18-24 months ago, like you’ve outlined. All that we’ve done to pare them down in on purpose, though. We aren’t sure where the future will lead us, so before you know it things might ’settle down’.
I am fascinated to see what the results will be from this new project you’re beginning. I’m also hoping to gleen ideas on how to enjoy more of life on less.
Thanks for the transparencey!
Take CAre,
Jill
Jill’s latest post: Making Fear Your Bitch–Turning Fear Into Challenge.
Good stuff Baker! Transparency is key, and will hold you accountable for your actions. Being transparent will also peak the interest of a lot of folks too. I’ll be rooting for you!
Will you have a “Net Worth” or Goals page to share with us as well?
Best
Yep, coming soon! PocketSmith actually has a cool goals feature (just helps you project based on cashflow when you’ll hit defined goals. My net worth is just these two account balances (US + NZ) – my outstanding debt, which is the next big project!
Sounds good Baker! Looking forward to seeing the new goals. I put a $1 million cash goal myself on FS to keep me accountable and honest!
Very interesting. I like the PocketSmith interface. Smart stuff!
Wonderful! Great way to make yourself deal the the truth about $. I just started a new way to hopefully stick closer to a budget in Oct. I have a “budget” with projected cost, as the month goes by I just subtract what I spend in each area. Hope it works!
Wow…scary, but real. I’ve always thought that the most tell tale piece of someone’s life is their check register. Know what they spend their money on and you’ll know a whole lot about that person.
I wonder if Mint.com has the ability to create widgets like this for Wordpress.
I agree – you can tell a lot about someone by what they spend their money on (much more than you can just simply by what they say). I was also wondering if Mint.com had something similar to this for WP as I am a huge Mint.com fan. PocketSmith does look pretty cool though and it will definitely be interesting to keep checking back on this page.
Awesome Idea Adam!
Best of luck and I’m going to enjoy following this, I think it’s something I can really learn from!
Cheers
Diggy
So what I’m thinking? One, you’re truly brave to show us everything. Two, lol-ing like a teenager at your choice of the category “Blow”. Too funny.
Gotta keep it fresh, ya know?
Very nice idea! Thanks for putting me on to Pocketsmith as well, it looks like a great way to get my finances in order. Things are a bit chaotic at the moment!
wow. this is truly radical!
i believe this will work as nothing drives accountability as full transparency.
i’ve been doing some reading on the subject (but only in an organisation context). do check out the concept of beyond budgeting at http://www.bbrt.org
fazz
That’s Awesome Adam….Quite the concept and very open about it. I think showing people that you are living by what you preach is awesome.
Good job Baker…
Dave
LifeExcursion
Interesting stuff.
I think there needs to be more info, or is that elsewhere?
Like networth, and debt amount, savings, etc.
And $500 for food and $300 for blow? That’s a lot!
We spend about $500-600 on food, but our family is twice the size of yours!
Working on adding this in Phase 2! Because our finances are fairly simple our two accounts (US & NZ) minus our outstanding debt is everything. We are adding the account balances soon and I’m working on a outstanding debt page as the next project!
As far as food goes, I’ll say this: First, we could find more ways to cut it down.
However, don’t forget about the exchange rate (about $350 U.S.), the fact that we are still really mobile (we can’t take advantage of a lot of bulk savings), and our experience has been NZ has slightly higher costs overall than the Midwest.
I definitely think $500 for food and $300 for blow is about right for NZ. They are similar to Australia in respect to the costs of grocery, dining out and just regular goods. Probably more expensive in some cases since the population is less. Granted, I was only in NZ for a month, but the costs in Australia are often twice or three times that in the States. We (in the states) are extremely spoiled with respect to the cost of goods (among other things).
And just forget about buying organic unless you want your grocery budget to double. I went into an organic store last year in Australia was literally laughing at the prices. OMG, it was just unreal. Luckily I don’t mind as much buying non-organic there since they seem to put in less preservatives and crap to start with into their foods.
Plus, there are also no coupons, like in the U.S. So, until you learn all the tricks for saving money on groceries, you will need to allow a bit more wiggle room. I know there are some websites for tips on saving money in Australia, so I’m sure there are some for NZ as well.
Looking forward to seeing how you finish up this page. I was thinking about doing this myself a couple of months ago, but have lost momentum lately due to other commitments. Maybe I will take it up again after our trip in December.
I am impressed by your willing to be so open and will be fascinated to see what you learn and teach as you go through this process. Good luck!
Love it! PocketSmith is one of the emerging budgeting technologies that I’m really happy to see get a decent stage. Their forecasting method is the right way to go, as I’ve seen far too many sites that dedicate their efforts towards past expenditures. If I spend a lot of money at the bar or on travel, I already know it. What matters is the future and that’s why budget forecasting is the way to go.
Opening things up for unparalleled transparency is a terrific way to stay accountable, and I’m sure this one step will put you well ahead of the game. As always, nice work.
BTW, props to PocketSmith as they’ve come a long way in a relatively short period of time.
Dude, you nailed what I really dig about PocketSmith. It’s that focus on the future and not just a bunch of past data. I feel like I’m being pushed to plan and project, instead of analyze. Great point!
i gotta commend you man, i would never release such information to anybody at all. this is a whole new level of transparency. but its different and this has permanently hooked me to your blog
Great site! I like the “radical transparency” approach, and though I’m sure it’s uncomfortable for you, it feels helpful on the other side. I have also recently started tracking every penny that I spend. I used to have some categories that I left open to interpretation each month, but not anymore! One thing that I think would be inspirational is to see how you are paying down your student loans. That’s the ultimate payoff here, right? Exactly what I am trying to do as well.
Best of luck! We’ll be watching.
I wouldn’t want to open myself up so much, I’m already feeling bad about how much splurging I do! (Then again, it’s fairly balanced… But it can still look awful!)
Hey Adam,
What you’re doing is so out there and unconventional, that it’s awesome!
Thanks for mentioning PocketSmith as well. I’m excited to use it to its fullest potential.
Cheers!
Will
Congrats on the launch Baker. Yet another great example of stepping away from “normal.”
I’m saddened that discussing things like money, pay, and personal finances (not personal finance mind) is considered extremely taboo. They have been repressed to the point of not even being discussed within most families, almost on par with the topic of sex.
Props on pushing the transparency envelope. Keep it up.
Ben
Love the updates on spending. Today I paid a total of $2700 towards my credit cards! $12000 left and a plan to pay it off by March 2010!
For ‘Eating Out’, the widget shows $12.90 spent out of a $60 budget as 20.00%, when it should be 21.50%. Are the figures being rounded to the nearest 5% or something? In which case they shouldn’t show 2 decimal places.
Awesome, thanks for pointing this out. I’ve notified the PocketSmith team and they are working on a quick fix. You rock!
Morning Baker – Just wanted to double check something so I understand bottom row called “Balance” in the top Account Transactions page. Is the Balance of $2,874.49 NZ the total you guys have for the month, or for everything?
There are a lot more red rows than the one green row for teaching. Is this just initial start up costs cause negative cash flow? And will your future income be the Teaching + a new row for Online income?
Best
FS, That’s the whole she-bang. A lot of what you see was move in cost for our new apartment. Initial bonds (deposits) on all utilities, the lease, and even the library. We have no credit here, so everyone wants a deposit!
Our projected cashflow is actually positive now that Courtney is teaching (that was a partial paycheck above). I think you’ll see more of this as the month plays out! Although, I’m already convinced our projections were low this month
.
This is me being inspired to start nerdy budgeting again. I am ashamedly obsessed by budgets, and I am not someone who is ‘into’ accounting or even into having a lot of money, I just like it as a ‘game’ as such, where I can prove to myself I can beat my records and reach goals!
Okay, I have to get PocketSmith, I love these graphs! Can this work with QuickBooks? I already use this accounting program and would like to just use PocketSmith in conjunction with QB.
thanks for sharing your budget!
Little House
As a NZer I have a few tips…Are there farmer’s markets near your apartment? Fruit and veges at these markets are often considerably cheaper than the supermarket, and more often than not, of better quality. Woolworths.co.nz is quite useful – we do a big grocery shop online once a month (and have it delivered!) and then supplement this with weekly-ish visits to the markets. All up our food bill is around $300/month for two. Finally, if you eat out semi-regularly you might want to look into an entertainment book. They cost $50 and have vouchers for the sorts of places you have listed (pizza, movie rentals). Good luck!
Hey Baker,
1. What is HipHop Dance?
2 I’m also trying to increase positive cash flow and reduce positive fat growth.
3. Been reading GRS for at least a year now, and ManVDebt for 4 months, and gotta say that you got serious balls. I’m impressed that you’ve uprooted yourself to have a pandemic life.
3a. Hey dude, we moved to NZ in (I’m from Kansas and my wife’s an Israeli) 2002 and have a place the opposite end of the country in Invercargill. If you make it down here my wife and daughter (she’s 15 mos.) have an extra room and a bed. It’s not much but it’d be cool to hang out with an American and talk about PF (my wife is kinda sick of hearing about it).
4. Keep it up and kudos on making your personal finances so irretrievably public. It’s a marker against others trying to achieve similar goals, which is helpful when people aren’t very forthcoming with their own personal finances.
5. I don’t normally post comments in list form.
6. Ever.
1. Courtney does a Hip Hop Dance class for fun and exercise
2. Awesome!
3. Hehe, thanks!
3a. We are touring the South Island in December for two weeks. I’m not sure if we are visiting Invercargill, but if we do, I will DEFINITELY contact you!
4. Thanks, man. It’s been a big help to us and I hope it rubs off just a little.
5. Me neither.
6. Well, once I guess.
So what’s your plan when you go over budget?
Cry. No… I’m going to post about this towards the end of the month! Great question.
Why don’t you consolidate your debts?
consolidate your student loans debts, I meant
Thank you very much for being transparent about your financial situation, also for sharing the great tool you are using to manage your budget.
So with PocketSmith do you need to budget every penny into a forecast event? Like if I budget all my bills and what not what happens with the money that’s left over?
I am new to your blog. You have a really beautiful family!
Are you going to nudge your readers here with a regular post when you’ve made updates? Or just assume people will check back as they want to? (I’d kinda like a nudge…)
I’m getting ready to do a post — today — on a similar concept, just not quite so detailed. At the beginning of the month I gave a figure of how much $$ we would be able to put toward debt based on our initial budget for the month. I’ve kept track of every tranx that “came up” since we did our budget (as in, it wasn’t factored into our budget). The plan is to do a mid-month “Budget Buster” post and one at the end of the month, and compare the projected numbers with the actual numbers and how that affected how much $$ ACTUALLY went toward debt.
In other words, how well are we doing in projecting and our month’s expenses and keeping within our budget? Hint: as of now, not so great
The idea is that, say, 6 months from now, we’ll be a lot better at it! Time will tell:)
I personally think it’s interesting to see how much $$ is spent on a transient/traveling lifestyle, with a tot in tow. Even though you aren’t living like I am, your midwestern American values are reflected in what you choose/need to spend your money on, no matter where you are. It’s also a valuable snapshot of realistic expenses for any other family who’s thinking of doing the same thing. It’s impossible to know how to get the best prices/rates on everything in a brand-new locale. I’m sure in retrospect, you see yourself where you could have saved money. Kudos to you for putting it all out there and being transparent.
You have no freaking idea how excited I am to find this site. Can’t wait to dig through all this info.
Like Candice above I too am very excited to find your blog! I found you through Frugal Dad (which I love too) and can’t wait to scour your website of every piece of info I can find helpful.
I am curious about which Pocketsmith you use? Are you on the free one or do you pay monthly for the subscription? Would you recommend a different one for different goals or would the free one suit all goals?
Thanks for doing what you are and sharing your journey with us all!!!