How closely do you track what you spend?
Posted November 2015 by Melissa Abraham-Smith
Keeping you financially fit
One of the most common ways to keep track of your eating and ensure that you are keeping yourself accountable is to keep a food diary. This concept can also be easily used to track your spending and create a great budget.
You will be amazed where your money goes if you track it closely over a week or a month, alternatively look back over your last bank statement and group every transaction by type. For example: supermarket, petrol, takeaways, gifts, clothes, bills etc.
How much did you spend on lunches?
Other little minor costs that all add up?
Tracking your spending will not only provide you with the tools to make healthy changes, but it will also ensure that you think twice before fluttering a few dollars here and there. It's a great way to save a buck or two.
Try asking yourself “what will I get in return for my hard earned money, if I spend it on this item?” and then “will I regret this purchase when it comes to reading over my money diary”, this will allow you to think about the consequences of that purchase, no matter how minor it may seem at the time.