If you have ever desired to know where your dollar is going; tracking your expenses will guide you to the source. Does anyone remember the game Pac man? Pac man ate anything that was in its path. When your spending is left to track itself; it will seem as though you are having a Pac man experience. Where are you spending your money? Do you have a plan or vision for your finances? What does your financial structure look like? Are you focused? What are your motives for spending lined up with? These are only a few questions that you should examine while searching for the culprit that is causing your money to disappear. Have you been careless with tracking your spending? These are some tips to help you to track your spending like a pro:
Where are you spending your money? – If you cannot remember from one day to the next where your money was spent, you might have a problem with a shaky financial structure. Give every dollar that you spend an assignment. You might ask, what do I mean? When you tell your money where it will be spent, you can gain control over it. Otherwise, your money will go where it pleases and leave you wondering what happened to that $100 bill. Take action and start saving more by tracking your spending like a pro!
Do you have a plan or vision for your finances? – When you fail to plan, you plan to fail. It is imperative that you take the time to sit down and write out your vision for your finances. You will find that once you put your thoughts on paper, of what you envision your finances to look like, things will change.
Are you focused? – An unfocused spender will go on impulsive shopping sprees, then justify spending money on things that they do not need. In other words, an unfocused spender is usually wreck-less with their spending. Get focused! Be alert, at the same time, avoid being legalistic, with your spending. It’s okay to spend, just get it under control and do not allow your money to control you.
What does your structure look like? What are your motives and metrics used for spending? – Spending without a sound structure and motive can be catastrophic. Check your financial foundation….do you have a spending plan in place. Your spending plan is your compass and should serve as a structured guide for your finances. The metrics for your motives should start with your spending plan. If your spending is out of alignment with your plan; make adjustments and get back into focus. Avoid continuing out of alignment. Think about what happens to the tires on a car when the driver keeps driving without re-aligning the vehicle; it will pull to the left or right, shake or wear down the treads of the tires, which could cause an accident. In other words, your finances alike could experience some unaligned money problems, if it’s not brought back into focus.
Use these simple tips to start tracking your finances like a pro!
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