Writing down monthly expenses can help to create as well as stick to a budget. Fine tuning is then a matter of assessing needs vs wants. Easier said than done, but it works!
Wednesday, November 16, 2011
Monthly Budget
I have found that one way to save money over time is to make a budget and keep track of what you spend. This may seem very obvious, but sometimes hard to be consistent with. Simply putting a limit on your spending and sticking to it can help items that feel like a necessity become something that would be nice to have, and therefore money is spent on what really is needed.
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We use Quicken, a computer program, to track our expenses. We pay for almost everything with a credit card, so it was easy to link Quicken to our bank accounts and credit card accounts. With a click of a button, we are able to download all of our transactions. Seeing how much we've spent really helps us set realistic targets for budgeting.
ReplyDeleteMint.com also provides a service that is similar to Quicken, and it is free.
Thanks for highlighting Quicken and Mint.com. That ability to track expenses is one of many good reasons to use a credit card if you have the discipline.
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