Track Your Spending To Gain Insight
One of the most powerful money saving tools can be as simple as pen and paper. Why? To track what you spend.
No matter if you track your spending over a short amount of time, say one or two weeks, or keep on doing it for years, tracking what you spend can save you hundreds of dollars.
If you’re on the road to make your money last longer, to stretch one pay into two, you’ve already visited some well known techniques. You’re going into the grocery store with a list. You know your fixed bills, have shopped for the best deals on them and pay them on time.
You know where your money is going.
But do you know where you’re spending? If you have set yourself a $100/week budget – do you know where and how you’re spending that? Are you leaving money on the table?
By tracking your spending habits you can learn where you might be spending more than make sense. Or which low-ticket items have a big pay off for you and your family. Those 3 bottles of pop every week are just a buck a piece … just 3 dollar a week… but when you see your tracked spending adding up to $12/month and see how much more value you’re getting from basic food (think pasta!), you know where you should stop…
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