What's The Easiest Way To Keep Track Of Your Money?

by Rachel
(Nottingham)

I want to keep better track of my money, but I always find I miss things. How can I make sure that I don't miss anything?

Answer:

One of the best, and easiest, ways to keep track of how much you spend is always ask for a receipt and write everything down at the end of the day.

If you get into the habit of asking for a receipt it will become second-nature. If you were running business, this is completely normal, so don't be afraid to ask for one, even for small things like a can of pop or a magazine.

At the end of every day, go through all the receipts and tot them up. If you didn't manage to get a receipt for something, then try and remember what it was and how much it cost. By doing this daily, you're unlikely to forget or miss something. You can then allocate to the correct part of your budget.

This should take no more than 10 minutes each day, and as time goes on, you'll get much faster and it'll get easier.

Finally, don't forget to check your spending against your budget! There's not much point in writing everything down if you do nothing with the information!

You can pick up a downloadable spreadsheet here.

I hope that helps!

The Budgeting Steps Team