365 Days of Frugality Day 6: Keep track of everyday spending

This post is part of the 365 Days of Frugality Series. Every day, there will be a new tip on how to bring frugality into your day-to-day life. Check out the postings so far here.


 

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With access to online tools to track spending in today’s age, there is no excuse for not knowing where each and every dollar is being spent. The best personal finance software that I have found is Mint.com. Mint.com keeps track of this spending as it occurs, but also offers proactive budgeting tools to plan your spending on a monthly basis. This  program is very easy to set up, updates your account information seamlessly, and provides suggestions based on your own specific situation. Overall, this is a great beginners tool to personal finance that should be taken advantage of by all.

To make this habit stick, I have gotten into the habit of checking the website as part of my daily return. It only takes a few minutes to open up the account, take a look at your transactions, and determine if the expense has been properly categorized. You can then check and see how much of your budget for this category is left. It has really become an addiction to see that my spending has lined up with my budget, and plan the rest of the month based off of the money that remains, while still being able to save for my goals.

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