I am trying to set up a budget for my wife and I. We have one account - all our income goes to the same place. When looking at items that have some sort of individual spending (eating out, clothing, etc.), how detailed should we be in tracking who spends what in each category? Or should we just track categories only?
Thanks for any advice
Since you are throwing all of your money into the same pile, I'd be as detailed as possible as to who spends what. Inevitably there will come a time when you want to spend a little extra on something for yourself & there's no money to be had since wifey ran into a great sale on shoes at the mall. At least that's how it goes at my house. It tends to create resentment so that's why we have separate accounts.