Keep a Log of Expenditures for 30 Days

Another tip from Google Tip Jar is to write down every bit of money you spend for 30 days, so you really know where your money is going. It's easy to get into the habit of silly expenditures; for awhile I was buying iced tea, then I decided only to buy it on sale. Now I have decided not to spend that money and instead am drinking more water.

While I have never logged my spending for 30 days, I know a financial advisor who provides new clients or potential clients with a small notebook in which to record their spending. People are probably surprised at the results because it is so easy to get into bad habits and not recognize it. It's easy to do what is convenient, which is most often more expensive.

I've been bringing my lunch to work because I perceive buying food during the day as an out-of-control expense. I occasionally go out to lunch and, because I am Catholic, and don't eat meat on Fridays during Lent, I made a conscious choice to buy my lunch at the cafeteria on those Fridays, simply because I most often eat meat as part of my lunch. In keeping with the Lenten theme, my lunch isn't anything exotic, a grilled cheese sandwich and fries; however, I prefer my cheese sandwiches to be hot and melted, so I indulge that choice. Because I plan ahead, it won't affect my bottom line significantly; my lunch is less than $5 and I rarely eat out these days.

Keeping track for 30 days is great for someone who doesn't pay attention and needs to figure out if excess expenditures are being made. It's a great way to begin a budget. If I hadn't made the effort, bit by bit, to cut out the unnecessary, I'd do it myself. Unfortunately, I don't think I have any excess right now and refuse to give up chocolate.