Can I get anything useful out of my savings history?
June 30, 2011 4:42 AM Subscribe
As a result of my method for saving money, I've ended up with a huge excel spreadsheet for the last 4 years detailing how much I've put in and taken out of my savings account. The problem is that although I've taken time to record all this information, I've now realised that I'm not sure what I can actually do with it. Do you have any ideas?
posted by mr_silver to Work & Money (12 answers total) 2 users marked this as a favorite
For that last 7 years or so my method for saving money has been simple. At the beginning of each month (after I've been paid) I allocate myself a set amount of money and anything that I have above that gets put into a savings account.
In the last 4 years, I've maintained a spreadsheet which details every month how much money I've put into the savings account, how much money I've removed, the running total (including interest) and some commentary about why the money was removed. In the past three years it's been for things like a new kitchen, a new bathroom and new windows. Not only that, but I've also transferred money out into other (higher interest) saving products such as ISAs and NS&I Saving Bonds. So I'm not actually tracking the value of all my savings, just the amount of money in my instant access savings account.
So now I'm sitting on a 48 lines worth of data, two pretty graphs (one tracking the rise and fall of the savings and one showing the amounts added on a monthly basis) and absolutely no idea whether or not this information is useful or usable in any way. There are no patterns or consistencies in either of the charts - so to be honest it just looks like a big old jumble of numbers.
Is there anything I can actually do with this data which would be remotely meaningful or useful?