Week 22 – Review your Budget
Now that you have gotten into the groove of tracking your spending, you can start to clearly see where your money goes. Once you have been tracking for a few months you can see the trends and may possibly be surprised by how much you spend on, for example, eating out. This awareness will help you make adjustments to your spending on a daily basis – so review each of your categories and compare them to your budget. Ask yourself questions like “Is this budget reasonable?” or “Can I do better if I make more of an effort to cut back?”. For me, I was the most surprised on how much I spent on my children’s clothing. Granted, I do have young children that grow quickly, but I promptly realized that was an area that I could improve.
Once you have reviewed your expenses, make adjustments. Move your budget around or better yet – reduce it. Make conscious decisions when making purchases and always keep your budget in mind. Are you at your “entertainment” budget by mid-month? If so, looks like you will be spending the next two weekends at home. Be strict on yourself. Knowingly exceeding your budget with items that are in your control will only cheat yourself and take away from your goals. Remember to be accountable!
All data found on this website is Copyrighted by MOMTHATSAVES. Unauthorized reproduction is prohibited.
Now that you have gotten into the groove of tracking your spending, you can start to clearly see where your money goes. Once you have been tracking for a few months you can see the trends and may possibly be surprised by how much you spend on, for example, eating out. This awareness will help you make adjustments to your spending on a daily basis – so review each of your categories and compare them to your budget. Ask yourself questions like “Is this budget reasonable?” or “Can I do better if I make more of an effort to cut back?”. For me, I was the most surprised on how much I spent on my children’s clothing. Granted, I do have young children that grow quickly, but I promptly realized that was an area that I could improve.
Once you have reviewed your expenses, make adjustments. Move your budget around or better yet – reduce it. Make conscious decisions when making purchases and always keep your budget in mind. Are you at your “entertainment” budget by mid-month? If so, looks like you will be spending the next two weekends at home. Be strict on yourself. Knowingly exceeding your budget with items that are in your control will only cheat yourself and take away from your goals. Remember to be accountable!
All data found on this website is Copyrighted by MOMTHATSAVES. Unauthorized reproduction is prohibited.