Do you keep track of all the money you spend in a month? Tracking your expenses will help you take control of your financial life.
SPENDING TRAPS
By tracking your expenses each month, youll be able to identify negative spending habits that you can change to make your money work better for you. You might find youre paying for services you dont use like a gym membership or a software that you forgot to cancel before the free trial period expired.
FOCUS ON GOALS
If youre planning to buy a house someday or looking to increase your retirement savings, tracking your expenses will help keep you on track to reach those goals. Youll be able to see if you have expenses that can be lowered or if your spending remains in line with your priorities.
ADDITIONAL BENEFITS
When you start tracking your expenses you may find that you worry less about money. Since youll know where every dollar is going, you wont be anxious wondering if youll have enough money at the end of the month. Youll feel more confident and because youre keeping track of your spending, youll be less likely to make impulse buys.