![]() Read: How to Make a Realistic Budget That Actually Worksįor years, I attempted apps and computer software to track my spending.Writing down your expenses forces you to prioritize where your money needs to go! Once you start tracking your spending, it becomes clear that there is not an infinite amount of money to go around. It makes sense that you spend more money on the things that are important to you, right? But what happens when your small day-to-day spending keeps you from spending money on the things that matter most? Once you are aware of your money went, you can start setting financial goals and set up a plan to help you achieve them. Your spending habits identify your financial priorities. If you don't know where your money is going or how you spent it, you can't identify which habits you can change to make your money work for you. The real and most important reason to track your spending is to create financial awareness. You need to be doing the opposite! What's happening in your life needs to be the guiding factor when creating your budget, and then it will become much easier to stick to the budget you created. You can't just pull imaginary numbers from the sky, and then try to mold your life around those numbers. How are you supposed to know how much to spend in each category without spending history?Ī sure way to set your budget up for failure is by using unrealistic numbers. WHY YOU SHOULD TRACK YOUR EXPENSESīefore you can sit down and create a budget, you need all of the facts. ![]() You can't change your finances for the better without revealing the ugly truth. ![]() But without facing the reality of your spending, you will always be left with confusion and regret. At first, seeing the real numbers of your spending can seem like a slap in the face. If you are making a decent income, but feel like you are still living paycheck to paycheck or are just squeaking by every month, most likely, lifestyle purchases and spending habits are to blame.Īwareness is the first step and then comes positive progress. If you have been asking yourself, “Where did all of my money go?” something is off in your budgeting process. In fact, it's the foundation for your budget. Knowing where your money is going is vital if you want to be successful with your money. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |