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Track Your Spending Challenge

Track your spending challenge

Ever wonder where all your money goes? You get paid one day and it’s gone a few days later. You paid some bills and grab something to eat and ran to Target…. where did it go??

Does this sound familiar to you? It sounds familiar to me and my family. We get paid one day and then poof it’s gone but you don’t know where it all went. What I failed to realize that those cups of Dunkin coffee and donuts or stops at Burger King all add up! Do you know what you spend your money on?

Yes, it is easy to say oh this is only a $1 or $2 so what’s the big deal. Well after 5 of those its only $1 adds up to $5 which enough to buy milk and bread for the week in my house. The coffee I love to grab with a bagel and donut on Saturday mornings… $8! If I bought coffee, bagels and cream cheese at the grocery store and brought them with me the break down would be about $2 for my breakfast. (I totally don’t need the donut and its an impulse buy every single week lol) I could use that other $6 towards groceries, gas or savings.

For one month, I am taking a little notebook that I bought a while ago (yes we have a collection of those that I wasted money on) and tracking where my spending goes every day. This will help me see, on paper, where the money goes and where I can cut back on spending.

I am breaking it down into 5 categories:

Household/Groceries (g)

House Bills (b)

Transportation/Gas (t)

Misc Spending (m)

Saving (s)

In my notebook, I will record day by day what I spend money on and use my codes to keep the categories straight. This way at the end of the week and month, I can easily track where the money is spent. At the end of the money, I will be putting this into a spreadsheet on my computer so that I can lay out my budget plans for next month. My goal is to add more into our savings for incidentals and vacations.

money

Check out my facebook page which will be updated on Sundays with my tracking numbers and watch where I am spening my money: Kaella Facebook Page

Are you ready to start tracking your spending and see where your money goes?

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4 thoughts on “Track Your Spending Challenge

  1. I definitely use a budget, because like you said, all the littles add up! You can easily blow your budget in one Target run! I LOVE saving money so we can do more of the fun experiences life has to offer!

  2. Thank you for the tips. I also track my spending on the spreadsheet (Google Sheets). There are lots of apps that could be really helpful too these days.

  3. thank you for sharing this information, it is very useful. i can use these apps to track the spending

  4. I know it works in losing weight with counting calories. I think tracking spending will be helpful to be doing so much better when it comes to spending money. I should definitely do this.

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