We have all wondered where our money goes. We think we have money in our bank account and are stunned to realize we only have $20 to the end of the month. We do not remember spending it. You realize you don’t have enough to make it to the next paycheck.
So where does your money go? Take this challenge. Keep track of every penny you spend for one month and I do mean every penny.
Itty-bitty Expenses Add Up
You will be shocked at how much the itty-bitty expenses add up to. Take the total you spent on just one unnecessary item for the month, multiply it by 12 for the months in a year to see how much you are annually spending on that one item.
If you would have saved that little amount instead of spending it, how much would you have in one year, or 5 years? And that is without the interest on your savings. PRETTY EYE OPENING?
Little Things Really Do Count
The little things really do count. Cutting what you spend on lunch from five dollars a day to three dollars a day on every work day, in a five-day work week, saves $10 a week… $40 a month… $480 a year… $2400 in five years…. plus interest.
See what I mean… it really IS the little things. You still ate lunch every day AND that was only one place to save money in your daily living without doing without one thing you really need. There are a lot of places to cut expenses if you look for them.
There Are No Wrong Answers Here
What is it you really want that will motivate you to start taking control of your money? Do you want to be able to make a down payment on a house, start a college fund for your kids, buy a sports car, take a vacation to Aruba? It can be anything. Make your answer the goal and your reason to get a handle on your financial situation.
What I am asking you to decide is what you want and If you will accept my spending challenge. I guarantee that it will help you create the path to get what you want.
Accept my challenge to keep track of all your expenses for a month. This is the first step in your financial freedom quest.
Stop Stewing over money!
Leave a comment below as to how you have done with the challenge. I look forward to hearing from you