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managing/keeping track of money?
Hi Ladies,
How do we all keep track of our money?
I have a day planner that has the days of the week on one side and a blank page on the other side. On the blank page I make columns across the top that say D, C, DT, and B... D for dancing money, C for credit money that I'll get from the club later, dt for money that comes from my other business, and b for bank. After I get in my car or before I go in my house every day I write down how much money I made that day in the appropriate column(s) and how much of it I'm setting aside to go in the bank.
How do you do it?
Lena
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Re: managing/keeping track of money?
I use Quicken on my computer. Allows me to set up different registers for cash, checking and savings accounts. It's very easy to use and really helps at the end of the year for taxes.
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Re: managing/keeping track of money?
Quicken definitely rules...been using it since I first opened a checking account the summer before I went to college in '93. It's helped me keep track of my finances (bank accounts, credit card accounts, loans, stocks, 401(k), etc.) since then. I wouldn't leave home without it. ;D
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Re: managing/keeping track of money?
i write it on the calender every day.....and then add it up at the end of the month-minus rent, childcare, fees etc and try to figure out where it all went :(
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Re: managing/keeping track of money?
Guess I'm getting in on this one a little too late but here goes anyway...Every night when I come home, I count what I made, deduct the house fee for the next night, and write down that amount (including how much I made on stage). I have one envelope for each of my bills (including one for savings and one for taxes); some small bills are lumped together. Based on a 20-day work month, I already have it figured out how much I need to put aside every day for the bills and that amount is written on the envelope. Anything left over I put in the "Extra" envelope. These envelopes are in a fireproof lockbox, hidden away at home. Every once in a while I take money out of the "Savings" and "Extra" envelopes and put it in a safety deposit box so I don't have too much cash at home. Whenever I need the bill money, I deposit it into my checking account. It has taken me some time to come up with this method but it works so well. Especially since I have a lot of bills automatically deducted from my checking account, looking at those envelopes every day (or every other day) keeps me on my toes regarding bill-paying. On top of that, I always make sure my bills are covered AND I know exactly how much I can spend on groceries or clothes or any other extra things. I pay cash for everything possible. I even have an envelope for my credit card and as soon as I make a purchase on the card, I put the cash (and the receipt, if possible) in the envelope out of the "Extra" one to make sure I have my payment covered. This method has never failed me.
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Re: managing/keeping track of money?
I haven't begun dancing yet, and I was curious, How do you keep track of the money as you are working? I mean, if you make a couple hundred bucks, you can't just keep all that in your garter, can you? Do most clubs have lockers where you can stash your cash until the end of the night?
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Re: managing/keeping track of money?
I'd rather have my money in my garter in direct contact with my skin at all times than have my money in a locker where someone will take it.
Just stick your money through your garter, fold it over, and rubber band it.
Lena
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Re: managing/keeping track of money?
I use a purse thaat I watch like a hawk. I have had money stolen from me before this way, but I think it's more attractive than carrying it on my fingers. I used to use garters, but I kept dropping my money. :(
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Re: managing/keeping track of money?
I always keep all my money in a garter or purse. I dont like the idea of all that money in my locker out of my site.
I keep track of my money in a day planner. I write down how much I make every single day. I also write down how much I spend. I write down everytime I spend money on food (even $5 at the drive thru) (it adds up), gas, nails, walmart, anything. I add up my bills too. At the end of the month I can see just how much I made and just how much I spent. Unfortunately there's not much of a big diff. :( LOL oh well.
:)
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Re:managing/keeping track of money?
I use Quicken too. Its very easy to use.
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Re:managing/keeping track of money?
What is Quicken? I keep my money in my locker with a key lock and keep the key rubber banded to my garter. I've lost enough cash by using the garter as my only place to stash it.
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Re:managing/keeping track of money?
Quicken is an accounting program far superior to Microsoft Money. Simple and quick to use, most accounting firms and offices swear by it.
I rubber-band my cash to my garter. If I get too much, I cash extraneous $1's in at the bar for larger denominations or put the stack in my locker.
Every night when I get home, I count up my money and enter it into a ledger. The far left column is my gross earnings; every single dollar earned that night. Middle column is whatever money I spent that night that is tax deductable; receipts are placed into an envelope stapled to the corresponding monthly page. Far right column is my net (minus fees, tip-outs and miscellaneous). The totals are added up weekly and monthly. At the beginning of every month I go through and figure my daily averages for the prior month, using that daily average to truly calculate which days are the most profitable to work.
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Re:managing/keeping track of money?
I used to keep my money in a purse, but now I rubber-band it around my ankle. I keep track of what I make by writing it down, but I need to get better about keeping track of the smaller expenses that add up (nails, snacks, drugstore pitstops for shaving cream and false eyelashes, etc...). :-[
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Re: managing/keeping track of money?
as far as afterwork. I stop at the bank the next morning or that night if someone is with me. I deposit it as follows: 30% in my checking, 30% in my savings and 30% in my other savings account which is my tax account. I hold 10% for my petty cash.
At the club I worked at prior to the one now we had tokens. We turned them in for lapdances. We also could turn in money and get a reciept for it so that way i turned in reciepts and got my money after shift.
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Re: managing/keeping track of money?
I keep track of absolutely everything. I write down in a ledger how much I made that night (plus how many dances & VIPs I did) & everything I spend. Even if all I buy at the gas station is a red bull - it's going in my book. However, if you are going to downplay your revenue on your taxes, I would advise paying for everything in cash that you can. Pay all your bills with money orders. Buy a paper shredder to destroy your ledger if the one in a million happens & you get audited. But remember, lying on your taxes (downplaying your income) hurts your credit when you want to get a loan (like if you want to buy a car). But keeping track of everything helps you see where your $$ is going & helps you determine where you ned to cut back.
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Re: managing/keeping track of money?
I write down tip-outs/fees and what I took home in a ledger. At work I use my worker for one's and keep everything else attached. I used to use a purse but was leaving it lying around too much, plus one club I went to had a rule against 'em.
I've tried using Quicken but it has been irritating me - I don't like not being able to go back and change amounts that I've made in the past. :P
I think I'm going to start another notebook for daily expenses, they do add up.
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Re: managing/keeping track of money?
I have a daily planner notebook where each night I write down how much I make. That way I can look back if there is no question about how much I made on that day last year, how I'm doing in general this month, etc. I also keep receipts for all my purchases...about every three days I record them in my daily planner (example: Albertsons (food) 58.00) I round it to the nearest whole number for simplicity. Then at the end of the month I spend thirty minutes totaling each category. I come up with a grand total for spending and subtract it from my income for the month. This is my net profit. Really not hard
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Re: managing/keeping track of money?
I have never seen anyone use a garter for their $. Never in Northern Cali, or Southern Cali. Everyone uses a purse. I'd be worried my $ would fall out of the garter.
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Re: managing/keeping track of money?
I love the dollarbird app. its like $2 i think its set up like a calender but better than writing it down on your phone calender because it keeps track of what your making weekly/monthly. Then I zero it out at the end of every month. I definitely feel it has helped motivate me to make more money I highly recommend it.
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Re: managing/keeping track of money?
I use Mint to keep track of my income and expenses, and I also keep a spreadsheet that I fill out each night when I get home with the money I took home, fees/tipout, gross income before fees/tipout, and how many dances I claimed (my club basically has us claim X number of dances from which they take our their fees and taxes). This way I'm able to keep track of how much "unreported tip income" I'll actually need to be reporting for taxes, since not all the money I take home will be taxable (the money from the dances I claimed will already have taxes factored in, so there's no sense in paying taxes AGAIN on that money!) It's pretty complicated at my club, so that's why I do all my bookkeeping as soon as I get home; I make mental notes of how much I tipped out and I don't want to forget by the time I write stuff down!
The garter + rubber band trick works great for me. Very few girls carry purses at my club, and I personally feel better with my money either physically on me or in my locker if it's really getting too fat.
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Re: managing/keeping track of money?
I have a ledger that I write in every day, I write the date, day, time of shift, and then how much I grossed, how much I paid out (house, bar fee, tip out, and any extras like food, cab and childcare) then I write the net and circle it. At the end of the month I add up all the circles for the month total.
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Re: managing/keeping track of money?
As for where I keep my money, in my current club I keep it in a little hand-purse and I literally keep my hand or eye on it at all times. Never had money stolen.
When I worked at my old club I put a garter around my ankle, twisted it at the front and put it around my shoe (so the garter went up into the arch of my shoe) then I folded my money over on the inside of my foot and put a rubber band on it. I learned that from another dancer at a club that didn't allow handbags, and I did that for about a year before going back to the little purse. At that club, girls also had tip jar shoes and would change their ones out every time they had 20 and put them in their shoes. And of course the garter around the leg with the rubber band.
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Re: managing/keeping track of money?
Cool that this thread was 'resurrected' because this topic is obviously still relevant.
I keep all my cash not just in my purse, but in a zippered pouch in the back of the purse. Every dollar goes in there, and I count at the end of each shift. I've never had anything stolen and I'm too nervous to wear my money in a garter.
I keep a journal handy in which I write down my income. I need to keep better track of spending. Somehow, just in this month so far I have gone through over 400 dollars spending on mostly necessary things. Very mad at myself. But I'm getting better every day!
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Re: managing/keeping track of money?
Holy shit 2003???? What the fuck, lol.
I have a journal that I write down my total net profit after tip out, what my tip out was, the date and time I worked. Then, I go home and enter my profit into YNAB, which is an awesome program. I also use Mint.