Are you in control of your money or is money in control of you?

When you receive your paycheck, do you know where it goes? If you are like most, you will know the amount that you pay for any fixed expenses (rent or mortgage, car or personal loans). That’s easy. Those expenses are the same every month, so it is easy to track.

But how about the variable expenses? Variable expenses like groceries and gas can change each month. Do you know what you spend on these? If you cannot answer, you may want to start tracking these costs. Write down everything you spend for one month. Can’t do one month? Start with one week. To help organize your expense tracking go to: Make a commitment. Every time you open your wallet, write down what you spend, no matter how big or small. The idea is for you to be aware of where your money is going.

When my children were small and money was tight, we would have a movie night once a week. Each child picked one movie, popcorn and snacks. I figured this was cheaper than actually going to a movie. What an eye-opener when I started tracking what I actually spent! After looking at the cost, as a family we decided to cut movie night to once a month. We put the money that we would have spent each month into an account and went on a small family vacation that year.

You may be as surprised as I was on where your money is going. Looking back at the expenses that you tracked, is there anything you can change? Are there some places that you can cut your spending to have more money to save or use differently?

Once you know where your money is going, YOU are in control instead of your money being in control of you.

“Money is always on its way somewhere. What you do with it while it is in your keeping and the direction you send it in say much about you.”  ~ Gary Ryan Blair


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