Why do you really need to track your expenses?

Why do yo really need to track your expenses?

It is common that we all want to reduce our expenses while increasing our income. However we all have got used to do all our expenses at ease, then look back on our expenses and continuously worry about the amount that we spent.

This has been a continuous cycle for generations. Most of the people wanted to come out of this vicious cycle, but could not identify the crucial step for the purpose. As we all know, prevention is always better than cure. Similarly for the expenses, the key to control your expenses is planning your expenses before you spend. But the most common issue which I could observe is people kickstart tracking their expenses with these kind of external motivations and give up within few days.

The tracking of expenses or recording how did your money went out is important in planning your finances. The expense track would eventually tell you the exact reasons for which you spent your last 10 bucks. Simply, the record of expenses notifies you on your expense categories and help to identify necessities and focus on what you really need to spend on. 

Here what I wanted to highlight is to never give up on recording your expenses. take look at your expense tracker every Sunday and note down the unnecessary expenses that you have made. Practice the activity as habit until you get no record to be noted as unwanted. I m quite sure, when you reach the day, you would have saved couple of hundreds of bucks only by eliminating your unnecessary expenses.

In my final words, yes expense tracking and planning your finances is the first and the hardest step of the journey of becoming the financially strong person you always and forever wanted to be! Good luck! and remember, you have to stick the hardest when it feels the hardest!