Spending
Why is it so important to track your spending? How do you do it?
Why is it so important to track your spending? How do you do it?
Tracking your spending tells you where your money is going. You have no shot at all when budgeting until you know where you are spending and how much. Tracking your spending will do that and in turn, it will reduce the stress in your life as you get a handle on your spending.
How? Use a card (debit card or credit card) to make all of your purchases for the month. This is the documentation you will need to show you where your money went for the month. Print off the statement for the month, categorize the individual spending, and then evaluate it. Cut where needed and repeat month after month. It’s time to take control!