Now that you understand your income, let's explore where that money actually goes! Most people have no idea how much they spend each month.
Tracking your spending is like having a GPS for your money - it shows you exactly where you've been.
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Take a guess—roughly how much did you spend last month?
The easiest way to start tracking is by reviewing your bank and credit card statements. These show every transaction automatically!
Look back at your last month's statements. You'll see where every dollar went without writing anything down.
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When was the last time you looked at your full monthly statement?
Another simple method is using a spending app or just writing purchases down. Apps like Mint automatically categorize your spending.
Or keep it simple - write down each purchase for one week. You'll be amazed at what you discover!
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Which method sounds more realistic for you to try?
Once you have your spending data, look for patterns. Do you spend more on weekends? Are there surprise categories eating up your money?
Many people discover they spend way more on food delivery or subscriptions than they realized.
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What spending category do you think might surprise you most?
Group your spending into categories like housing, food, transportation, and entertainment. This makes patterns much clearer to see.
You might notice you're spending $200 monthly on coffee shops or $150 on streaming services you forgot about.
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Besides the main categories, what's one "small purchase" category you'd create for your own spending?
