Where Did All That Money Go?
Ever ask that question? I bet you have, on multiple occasions, we all seem to share that question. It seems like we get money and it disappears like water down the drain and we don’t really know where it went to.
This is a problem for anyone that is trying to build wealth, or even just make life a little easier.
So where did all the money go? The way to find out is to track your spending.
- When you spend money, whether in cash, check or charge, log it and categorize it.
- Carry a small book around with you or use one of your electronic devices.
- It doesn’t matter where you log it, just log it.
- At the next pay period, log your paycheck and then go back and look at everything you spent from the last paycheck and how you spent it.
You may be surprised how much money you are spending on certain things.
Continue logging your spending practices and watch them carefully. After a very short period of time, you will be able to figure out just where your money is running off to. Once you have an idea where your spending practices could use some changing, you will begin your journey to better financial security.
This journey will need to start with financial planning.
This financial planning needs to be something that you can actually stand by. If it’s not realistic, you won’t be able to keep with it.
