Keeping up with your Personal Budget (Step 2)
Many people thought that it would take a miracle to get them to create a budget. Well you’ve performed the miracle: you finally summoned up the courage to make your own budget! If not, create your budget in less than 15 minutes with BudgeX so the rest of this will have a more personal meaning to you.
Now What?: Keeping Track of your Expenses
The good news is that you’ve already done the “hard” part of creating a budget. Now all that’s left is to make sure you stick to it. Some might call that the “bad news,” but all in all it’s not so bad. Here are a few simple tips to follow to make it easy to keep track what you pay for:
- Ask for a receipt wherever you go
This may seem pretty obvious.. Because it is. That’s what receipts are for. Each time you get one, just store it in your wallet or purse until you get a chance to enter it into your budgeting program.
- Enter items into your expense categories regularly
Make it a weekly task to enter in your expenses. Pick a time– every Sunday night at 9, for instance– and dedicate 5-10 minutes to opening up your wallet and going through the receipts you have accumulated. If once per week is too long to wait, change it to biweekly, or even daily, depending on your personal thresholds.
By making expense tracking into a regular habit, you’ll be one step closer to complete financial discipline.
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