💵WHY are you spending money?
I always have my clients track their spending for at least a week but sometimes a month.
Yes, it’s annoying. Yes, it takes extra time. BUT it is so important to understand your spending habits when you are trying to stick to a budget, set money goals, and/or pay off debt.
Not only should you track your spending, but for each purchase you should write WHY you are spending the money. This will help you understand if it was a need, a want, an impulse purchase, etc.
If you haven’t tried tracking your spending, try it for a week. Keep it simple. Write down what you purchased, the amount, and why you purchased it.
Understanding the why can really help you start making mindset shifts, help you actually stick to a budget , and help you understand your spending habits.
Have you tracked your spending before? Did it help?