How to Stop Wasting Money By Writing Down Every Cent You Spend

Do you often run out of money to pay bills by the end of the month? Do you spend cash on everyday things like coffees or fast food lunches but you can't really account for it all? Do you often start with 20 or 30 dollars that's gone by the end of the day but you can't remember where you've spent it?

The notebook trick will help you stop wasting money by providing accountability for the cash you spend on a daily basis. If you'll use this notebook trick for 30 days you're sure to find money you didn't think you had.

When you know where your money is truly being spent you're bound to have money left over each month to pay down debt,save for a big expense you've been putting off,or to start that long neglected emergency fund.

Writing down everything you spend for thirty days is a simple but effective method to help you stop wasting money.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• A Pocket Sized notebook
• A Pen
• A Strong Desire To Stop Wasting Money

1. Keep your little notebook and pen with you at all times when you are spending money away from home. You may need to put it in your pocket or purse the night before until keeping it with you becomes a habit.

2. Write the date at the top of a new page every day. If you make a lot of small purchases you might use more than one page a day. This is fine as long as you start with a new page every day.

3. Write down a detailed description of everything you spend money on no matter how small. Example entries would be:7 AM pack of gum and a soda-$2;
   12Pm Burger and Fries $5.

4. At the end of the month make a category page for each of the types of things you spent money on. Example categories might be fast food,coffee,vending machines,convenience store items.

5. The sum of the totals of all your category pages will show you how much cash you have spent for the previous thirty days. Prepare to be shocked.

Tips & Warnings

• When you have discovered where your money is really going every month you will be in a better position to budget and control your money instead of having your money control you.
• It will be easier to track needless cash spending if you use checks or a debit card for larger expenses like gas and groceries.

Resources

• The Recession Survival Guide
• Recession Survival Strategies

[BellaCasa]

on 2/13/2009 Good idea! 5*

[LaunieS]

on 2/10/2009 Good idea. Well written. 5*

[chocolate00]

on 2/5/2009 Thanks for the great tips! I gotta start doing this again. 5*

[MarieSteris]

on 2/3/2009 I am always wondering how I ended up spending that whole twenty on seemingly nothing by the end of an average day! Great idea!

[wordstock]

on 1/23/2009 We did this for 20 years. It used to drive me crazy so I made my husband stop. He was right. We are again writing down every penny. We do know how every penny is spent. Time consuming, a hassle, yes to both. Important in today's economy, yes.