Money:
Where does your money go?

If you are going through the lists properly then you will have already tackled the bills. Here we show you how to understand where your money is going to.

Look through your checkbook, statements, and receipts. Start gathering information on where, and how much money you spend in various categories on a weekly or monthly basis. This is showing you where your money has gone.

Now it is time to create some records

First record: Carry a note pad around with you at all times. As you are spending money write it down what it is and how much it cost. Start with a day then add up your total spending habits from that day. Then go onto do a week but don`t add up the costs until the end of the week. Then try and do a whole month. This is a daunting task but by the end of it you will feel much better and more incontrol of your spending habits. What ever you do don`t give up this is the only way you can learn to understand where your money is going to and how to control where your money is going to. Keep your papers in a shoe box and name it Spending record.

You will be amazed at the amount of money you spend in a day never mind a week or a month.

Second record: It is now time to go through your first record and put a tick next to all the things that you bought because they were on sale or just for the sake of buying something, the things you spent to much money on and the things that you could have done with out. Write these onto a separate piece of paper and add up the total. Put them in another shoe box or packet and call it Things I wasted my money on.

Now you are aware of where your money is going to and how much you are wasting. You should be control your spending habits now and you will also be feeling a lot better (and richer hopefully).