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Why I track my spending (and you should too)

IMG_4633In my coaching program, I teach clients how to develop a spending plan and track their purchases each month.

This scares a lot of people.

There are a lot of excuses that I hear (too much work!) but really most people just don’t want to look at their numbers on a regular basis. And let me tell ya, if you are scared to look at your numbers it definitely means you NEED to.

I’ll admit (even as a Money Coach, yikes!) that I was slow to jump on the tracking train. But I am a believer now because I have seen how it can work for people.

Tracking is critical when you are trying to understand where your money goes. It’s also critical when you are trying to cut back or make a life change. It can help bring order among chaos.

Even if your monthly spending is dialed in, you still should track for the times in life we might get a little off track.

I am the perfect example.

In the past 6 months, we have sold a house, bought a house and had a baby. There were a lot of non-recurring stuff going in and out of our account that was not easy to keep track of. But because I had an existing spending plan and tracking mechanism, it was easy to organize it all within my existing system.

So whether you are just beginning to clean up your daily finances or are further along, consider tracking. It will keep you connected to your spending and give you the peace of mind that you have enough money to get you to the end of the month. Which is priceless!