Track Your Spending

       
 

 

 

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Money Saving Minute #034 – Track Your Spending

 

Tracking your spending will save you money.  Sounds pretty obvious, doesn't it?  But consider this, the same number of people that say ‘I already know that’ are equal to the same number of people that will say ‘where did all of my money go’?

 

So let’s get back to basics.  Tracking spending is not about self punishment.  Tracking is about looking at where your money goes and finding ways to comfortably keep more of it in your pocket.

 

Tracking starts with a 30 day snap shot.  For the next 30 days keep all of your receipts for cash purchase and make note of any incidental purchase such as vending machines.  Next take a look at your bank and credit card statements for the same time frame.  Examine all of your documentation to see where your money is going.  Again, this might seem obvious but once you take a good look you might be surprised at where your money is going.