Where do you spend your money? If you don’t know where your money is going, how can you create a budget or manage your money? I have a challenge for you! Track your expenses for 30 days!
For the next 30 days, get a receipt for everything you buy and designate a place in your house to put those receipts every day or every few days. (Put a basket on your kitchen counter or desk area). You should already receive a receipt if you pay for anything with a credit card or debit card. If you write a check, make sure you include it also. Most important, keep all your ATM receipts and anything you pay for with cash; get a receipt. At the end of 30 days, make a total of each category. This will tell you where your money is going and help to create a budget.
Feel free to use one of the resources I have listed below or create your own. If you are currently using Quicken or MSN Money, take the time to print a monthly expense report. This will only give you a realistic picture if you are entering EVERY receipt or expense.
http://www.crown.org/Library/ViewArticle.aspx?ArticleId=263 Click on 30 day diary under Charts in PDF format.
During these 30 days , continue to visit and we’ll discuss other things you can do while tracking your expenses. I’d love to hear how you track expenses…putting receipts in a basket, using a program such as Mvelopes or using your Blackberry.
Have a great week!
Filed under: Budgeting
