TRACK YOUR BILLS | 365 DAYS OF MONEY TIPS | day 1

words of wisdom

TOO MANY PEOPLE SPEND MONEY THEY EARNED...
​TO BUY THINGS THEY DON'T WANT...TO IMPRESS PEOPLE THAT THEY DON'T LIKE.
​- WILL ROGERS

WHY IT IS IMPORTANT: Tracking your bills allows you to prepare for how your paycheck will work for you. It is important to keep your bills in a form that allows you to give it a quick overview or glance. Tracking your bills and other expenses helps to create financial awareness. If you are unaware of your habits and or spending trends you are essentially spending in the dark. If you lack financial awareness you cannot identify opportunities for change to unlock your full financial potential. The smallest daily expenses can make you blow your budget if you're not tracking your bills.

KEY POINT(S): Financial awareness is therefore, knowing where your money goes and knowing how you spend it. Without financial awareness, you won't know your habits or spending trends. 

MY EXPERIENCE: I started tracking my money in college so I could understand what I couldn’t afford. I recently gave up Hulu, Netflix, and DirecTV, not because the services weren’t appreciated, but because I recognized the duplicity of the services offered and recognized that I don’t need to spend so much time in front of the TV binging on anything. I currently have Disney+ at the free year trial period.

QUESTIONS FOR YOU: Do you have Financial Awareness? In other words, do you have a list of what your bills are? Have you been wondering lately where your money goes? Or why you feel like you are living paycheck to Monday? 

NEXT STEPS: 

1. Check to see if you're overpaying for products or services you can do without. 
2. Cancel reoccurring subscriptions that provide duplicate services and or content. 
3. Consider a Financial Coach at Eduential™.

SUGGESTED ONLINE REFERENCES: 

• Why You Need to Track Expenses to Control Your Finances by MIRIAM CALDWELL
• 5 Steps for Tracking Your Monthly Expenses by COURTNEY JESPERSEN​​