Keep a Notebook to Track Your Daily Spend
Writing down your expenses in a notebook is one of the best ways to keep track of where your money is going. It can be helpful to write down all of your expenses for the day, week, or month in a notebook. This will help you stay mindful of how much you are spending and what you are spending it on. It also makes it easier to compare how much you are spending each month and how it’s changing over time. Having a record of your expenses in a notebook can also help you identify areas where you may be able to make cuts or save more money. Keeping track of your expenses in a notebook can be a great way to help you stay on top of your finances and make sure you’re making the most of your money. Make a note of how much you spend each day, it may just shock you!!!
Using a Notebook to Save You Money
Keeping track of expenses in a notebook can save you a lot of money. By writing down each purchase you make, you can better keep track of your finances, as well as identify any areas of overspending. When you jot down each purchase, you can review and analyse the data to find areas in which you can save more money. Furthermore, keeping track of your expenses in a notebook can help you set and stick to a budget, so you can avoid going over your allotted spending limit. By taking the time to review your expenses, you can also find ways to cut back and save money for the future.
Notebooks Can Help to Identify Unnecessary Expenses
Saving money by cutting out unnecessary expenses can be an incredibly effective way to save money. It can help you reduce spending on things that you don’t really need and put the money towards things that matter more. Start by keeping track in your notebook of your spending and figuring out where you can cut back. Maybe you don’t need to buy that morning coffee every day or you don’t need to make that extra purchase at the store. Whatever it is, make sure you are being mindful of what you are spending money on. You can also look into ways to save on your monthly bills, like getting a better deal on your phone or cable plan. With some careful planning, you can save a lot of money by cutting out unnecessary expenses. With a notebook you will at the end of each period see what you could have saved.
You Can Transfer Your Notebook Result into a Spreadsheet
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. During the day she would write down every time she bought something, then late transfer the results to a spreadsheet. 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 really register every time she made a purchase, but when it was written down, she could study it and see where the money was going. Perhaps use the Income and Expenditure on this site?
Understanding Where Your Money is Being Spent
Understanding where the money is going can be a great wake up call. Just living from wage packet to wage packet and not really taking into account where the money is being spent, so it is not a good option. You need an idea how much you are spending on unnecessary items, and you will be surprised to see how quickly it all adds up. Knowing where your money is going will make you more conscious of your spending habits. You should now make sure that you budget your money, you will be able to save more for the future. It is a real eye opener and that will make you a more responsible spender.
Keeping a close eye on your finances, will make you a better financial tomorrow!!
Saving Money Using the Kakeibo Budget Book or Journal
If the idea of keeping track of your expenses, you may also want to take a look at this post on Using the Kakeibo Budget Book.