How,Much,You,Spend,amp,#63,How finance, share, loan How Much Do You Spend?

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How Much Do You Spend?By Terry RiggMost of us don't have a clue how much money we spend and whatwe spend it on. We spend it until it's gone and hopefully wecan find some more to spend.The conventional wisdom is that, if you want to know the detailsof where your money goes, you keep track of every penny in somesort of ledger. This is by far the most effective way to handlethis problem.By keeping track of your purchases you will be able to make decisions that could reduce your expenses. You can cut out unnecessary expenses and put your money toward more importantthings.It is best to keep the ledger with you and write down this information as you make the purchase. Naturally, if you havea family they will also have to do the same thing.Like I said this is a fantastic way to know where your moneyis going. The problem is that most people don't stick to itfor more than a few days.AN ALTERNATIVEKeeping tract of your money is a means toward a goal. You want to control your spending so that you can buy the thingsyou need and some of the things you want. It's as simple asthat.Since you already know what your regular bills are goingto be each month, the only thing you need to keep up with isyour Household Expenses. This includes a lot of things likegroceries, car gas, clothes, etc. In order to do this you will need to know how much money you have to use for this purpose.The Budget Worksheet available at Budget Stretcher will allowyou to "brainstorm" your expenses to determine what you needto spend your money on each month. You can print a copy of theBudget Worksheet at:http://www.homemoneyhelp.com/budgetworksheet.htmlHere is how it works:First, you sit down and try to think of everything you spendmoney on and write it down. If you have a family it's best toget them involved in this process. You won't be able to thinkof everything at first but you will get a good idea.Next apply an estimated dollar amount to each of these expenses.Here again you are guessing. You have to be as realistic as possible.Now that you have an estimate of what you spend on your HouseholdExpenses each month you need to see if you have enough money to cover it. To do this you simply total your regular bills andsavings and deduct it from your net income.If you don't have the money to cover your estimated expenses, it'stime to start cutting back. Look at each expense and try to findways to reduce or eliminate it. For example, if you are visitingthe beauty shop twice a month change it to once a month.There are thousands of ways to cut your expenses. The best placeto find ways to do this is to visit my Budget Stretcher Partnersites. Here is a list of some of the best money saving sites onthe internet:TheFrugalShopper.comhttp://www.thefrugalshopper.comGreedyFools.comhttp://www.greedyfools.com/affiliates.php?partner=BudgetStretcherBetterBudgeting.comhttp://betterbudgeting.comDebt Smarthttp://www.DebtSmart.comThe Stay-At-Home Parents Pagehttp://www.geocities.com/sahmlomano/index2.htmlBrighter Futureshttp://www.brighterfutures.comFreelanceByUhttp://www.freelancebyu.comTidbits from the Pantryhttp://www.humansrv.netUsave2day.comhttp://www.usave2day.comMoneyMakingMommy.comhttp://www.moneymakingmommy.comYou Save On Taxes.comhttp://hop.clickbank.net/?terryrigg/wmdctpAbbys Good Stuff for Freehttp://www.anycities.com/abbysFreebie Havenhttp://www.121fun.comIf you have a family your next problem is going to be how tosort your money. When you have your list of expenses youwill need to assign the responsibility for each of thoseexpenses to a member of the family.I wrote another article that explains this process in detailand provides specific examples of how to sort your money. Youcan see this article by clicking on the below link:http://www.homemoneyhelp.com/articles/sortmoney.htmlAs with anything else you will need to make adjustments. Evenif you decide to keep a ledger to track your expenses circumstances change and you will need to adjust these figuresas well.Knowing how much you spend is important, however, it is not as important as having the money to cover your expenses. If youhave what it takes to keep track of every penny you spend I would recommend that you do this for a couple of months anduse these figures to help you set up your household budget.If you have tried using a ledger and find that it's just todifficult I would use the method I've just covered.The main reason budgets don't work is that they are just toohard to keep up with. By setting up your budget to be assimple as possible you are increasing your chances of making it work. Article Tags: Each Month