How hard do you work each day? How hard do you work each month? How hard do you work every year? If the answer is very hard then why in the world would you not want to know where your money was going every day, every month, and every week? Think about the day your boss made you upset or that client didn't show up. Think about all the difficult days and all the TGIF’s.
When you start to think about it even if you just think about this year those thoughts will make you embrace the idea of finding every penny you spend. The problem that everyone runs into is how to actually do that. How can you effectively track all of your expenses so that your money stops slipping away from you every paycheck.
That is where the two week expense tracking comes into place. If you want to know where your money is going every month then you should track your money for two weeks. The best two days to start your two weeks is on the 1st of the month or the 15th. Why those dates? Because those are the dates that big bills are due and people get paid. Big bills like mortgages, apartment rent, car payment, student loans, cell phone, etc come due on those dates and those are the expenses that are easy to track because they are large.
It is all the other expenses that people let slip through their fingers and those expenses are the reason that finances are at a standstill and not progressing. Expenses such as gas, eating out, entertainment, shopping, dry cleaning, etc are little expenses that we tend to ignore. When we ignore them we are ignoring our money. We are ignoring all the hard work that we do to make our money.
To get an idea of the amount of money you spend on the little expenses keep every receipt for the two weeks even if it is a pack of gum for $.75. At the end of the two weeks you will have a great snapshot of where you spend your money. If you track your expenses you have decided to take control of every penny. That control means that you are well on your way to having more money in the bank.
If you want to pay off debt or save money for your dream or dreams this is a step that can not be ignored. Until you find out where your money is going you will continue to run in circles. Which day are you going to start? 1st or the 15th?
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