Knowing how you spend your money is vital to your financial success.
Watch our workshop on Planning Your Spending
Practice the sufficiency mentality
This will help you focus on being a wise steward of what you do have rather than worrying about what you don’t as you track and plan your spending.
Establish a spending plan
Use the percentages in the pie chart as general spending guidelines as you build your budget.
Choose a tracking tool
Here are several options to consider:
Track your expenses
Based on what you learn, make a spending plan and put it into action. In addition to continuing daily
expense tracking, do the following:
Every week take 15-20 minutes and reconcile your spending from the previous week. If applicable, include your spouse.
Then plan your spending for the coming week.
Every pay period, review your income versus expenses. Then plan for the next pay period. If applicable, include your spouse.