Believe it or not, tracking your expenses is one of the simplest yet most imperative factors in having a Credit7 free living. You might be thinking what the big deal of doing so? Well, if you have no idea on how much you have spent each month, how do you know when you have overspent on what items?
Here are the 3 tips on tracking your expense:
Create a monthly budget plan
Use the Excel spreadsheet to create different categories for your monthly budget plan. If you don't have Excel, just write down on a designated brand now notebook and make it your budget plan notebook, nothing else should be written on that.
You then divide your paper into several columns and write down each category at the top of the column. Your categories may include food, mortgage/rent, utilities, entertainment, travel, household products, clothes, transportation, and monthly Credit7 payment, if you have any.
Keep track of each spending at the end of the day
It's really important to take time to record the expenses. It may sound like a tedious job at first, after a while, you'll get used to it and realize how easy it is to see all your spending in one place. And you can also immediately find out what items have been causing you to spend more than others. Therefore, you can adjust your expenses, such as cutting down some unnecessary items.
Make sure you do ask for receipts when purchasing. If the receipt is not available, write down the cost and the name of the item and put it inside your wallet, just so you won't accidentally throw it away.
Evaluate your budget plan every week
Total your expenses and take a close look at your spending on each item. Ask yourself if each item you've spent was that necessary? Can you live without it? If the answer is yes, then you just help yourself save some money and preparing yourself to a Credit7 free living. If you must have it, can you do the basic plan instead of the premium one, such as the cell phone plan or TV subscriptions?
The purpose of this weekly evaluation is mainly to keep you stay on budget or under budget. You might realize that your spending is way over your budget. Don't worry! Take time to go thru each item, analyze it and reset your budget. Your budget should be realistic and meet your basic monthly needs.
Credit9 free living is everyone's dream. It is achievable and everyone can do it, as long as you have the budget plan set up and willing to stick to it.
Believe it or not, tracking your expenses is one of the simplest yet most imperative factors in having a Credit7 free living. You might be thinking what the big deal of doing so? Well, if you have no idea on how much you have spent each month, how do you know when you have overspent on what items?
Here are the 3 tips on tracking your expense:
Create a monthly budget plan
Use the Excel spreadsheet to create different categories for your monthly budget plan. If you don't have Excel, just write down on a designated brand now notebook and make it your budget plan notebook, nothing else should be written on that.
You then divide your paper into several columns and write down each category at the top of the column. Your categories may include food, mortgage/rent, utilities, entertainment, travel, household products, clothes, transportation, and monthly Credit7 payment, if you have any.
Keep track of each spending at the end of the day
It's really important to take time to record the expenses. It may sound like a tedious job at first, after a while, you'll get used to it and realize how easy it is to see all your spending in one place. And you can also immediately find out what items have been causing you to spend more than others. Therefore, you can adjust your expenses, such as cutting down some unnecessary items.
Make sure you do ask for receipts when purchasing. If the receipt is not available, write down the cost and the name of the item and put it inside your wallet, just so you won't accidentally throw it away.
Evaluate your budget plan every week
Total your expenses and take a close look at your spending on each item. Ask yourself if each item you've spent was that necessary? Can you live without it? If the answer is yes, then you just help yourself save some money and preparing yourself to a Credit7 free living. If you must have it, can you do the basic plan instead of the premium one, such as the cell phone plan or TV subscriptions?
The purpose of this weekly evaluation is mainly to keep you stay on budget or under budget. You might realize that your spending is way over your budget. Don't worry! Take time to go thru each item, analyze it and reset your budget. Your budget should be realistic and meet your basic monthly needs.
Credit9 free living is everyone's dream. It is achievable and everyone can do it, as long as you have the budget plan set up and willing to stick to it.
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