Tracking Spending
Why is it important to first track your spending before creating a budget?
Why is it important to first track your spending before creating a budget?
A budget requires a clear accounting of where the spending is going. That is why you track your spending carefully and categorize where the money is going on a monthly and yearly basis. The budget follows to help you allocate the direction of future spending so you can save for future goals (like retirement) and not spend in areas that do not help you achieve a better financial future.
You can go to thecrazymaninthepinkwig.com and hit on the menu in the right hand corner of the site to see a drop down list of financial topics; one of them being tracking spending. Learn more on this important topic by reaching Financial Happine$$ and Your Money or Your life. Financial freedom to follow!