Make a note of how much you spend each day, it may shock you!!!
I remember years ago when I was teaching IT, I was teaching a single mum spreadsheets as part of her course. She then wanted to practice what she had learnt, so I suggested that she creates a spreadsheet of her daily spend for a month.
So for one month she religiously logged every single item that she bought. She was shocked by the amount of money that was spent on frivolous items – especially on her child!
In her mind it did not compute all little items that she bought, but when it was put into a spreadsheet, it soon mounted up.
It was a wonderful wake-up call for her, and she also realised just how much garbage she was feeding her child on a monthly basis.
By doing this it made her seriously change her spending habits and also cut down her child’s intake of sweets. So it created a healthier lifestyle too.
By studying the spreadsheet, it allowed her to analyse every aspect of her day to day life and make changes for the better.
Taking up this sort of challenge can be life changing and for the better in all aspects.
A bare bones budget is a must!