Home Budgeting Tip #1

I am surprised at how many people ignore the easiest step in budgeting, that is to determine what you are currently spending.  In our society today, we are constantly bombarded with things to buy and too many people do buy on an impulse basis.  Then before you know it, that impulse buy has become a regular purchase.  The next thing you know, you are spending more than you make.

So if you want to start to regain control of your household budget, do this simple but effective excerise:

For the next 30 days, write down every penny you spend and what you spent it on.  Like this:

3/4/10  Starbucks coffee – $3.57

3/4/10 Exxon Gas – $32.75

Do this everyday for 30 days and you will have an eye opening experience. 

Comments

  1. The Advantages of Home Budgeting | Home Budgeting Said,

    […] budget, part of it must include spending controls.  The first step in this as discussed in the Budgeting Tips section, is to find out how much you are currently spending.  If you have not read that […]

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