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Finances: Tracking Daily Spending

I am not a financial guru. In fact, I leave most of everything doing with money to my accountant. (Since I’m married to him, this is not as bad as it seems). However, I find that in my personal spending, I can burn through the cash I take out and really have nothing to show for it.

It’s easy to lose track of little money. A few dollars for coffee, a quick trip to the dollar store, perhaps a snack, and $20 is gone.

And it’s even easier when using plastic. Swipe, and there it goes.

The thing is, a pail with a small hole will get just as empty as a pail with a big one. It’s a matter of leaking.

If you find yourself often wondering where the money goes, try tracking your expenses…and I mean everything…for a week. Collecting receipts for a week and totaling it all up at the end of the week can really open your eyes. And if you know where the money is going, you will be able to make better decisions about the big picture.

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Photo by Afroswede

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