The Scenario
What's your approach to keeping track of your money?
Sam Savings Samantha

Savings Sam
"I save the receipts from everything I buy. I keep track of every cent I spend, and make sure never to exceed my budget."
Bonnie Balanced Bonnie

Balanced Bonnie
"My husband and I don't track every cup of coffee we buy, but we do always consult with each other before spending more than $50. It's important to make sure our 'needs' are taken care of before our 'wants'."
Ian Impulsive Irene

Impulsive Ian
"Ttrack my money? Never really thought about that.It all goes to my bills so I never have any money to keep track of. I pay the minimum due when I get a paycheck."

Part I

STEP I: Categorizing Expenses

The toughest part of managing your expenses is figuring out where to begin. It is important to categorize your expenses, so that you can assess how much you are spending on certain items as you track your expenses.

Suggested categories include:

Try making a spreadsheet or printing budget forms to help you keep track of your list. You can create spreadsheets FREE online via Google Docs.

STEP II: Prioritizing Expenses

Once you have a solid framework set with your personal spending habits in mind, it is important to prioritize how your money is spent. It isn't a good idea to splurge on an expensive pair of designer shoes if you are having trouble paying your rent or mortgage on time.

Try placing the categories above into one of the following 3 groups:

Previous PageNext Page