Spending money you don’t have is a sure sign that you are not saving enough money. Using those ever convenient credit cards and debit cards are a sure path to doom when it comes to your ability to save money. Unfortunately in these tough economic times the majority of people that use their debit cards and credit cards do not have the cash in hand to cover what ever it they are buying at the time. You may have it in your debit card account at the time but you know that money should stay in that account for some monthly bill that comes around every month. Instead people are giving into that impulse buy or letting their emotions get the better of them and their wallet.
Saving money has really become a lost art. As most people rely on credit cards and loans to get them through the daily grind. Be honest now when is the last time you balanced a check book, put pen or pencil to an actual check book and balanced the numbers. Perhaps a better question would be have you ever balanced a check book or are you one of the millions of people that simply look at the atm reciept to see how much you have in your account and then go buy stuff based on that number for that day. It’s crazy of course but that is how so many people live and get caught in the trap of living pay check to pay check.
One of the single most important things you can do to stop the madness of living pay check to pay check is something that will not even cost you a dime. This basic step can literally save you thousands of dollars from leaving your wallet and staying in your bank account.
You do not need to read some financial book or take an economics or book keeping course. You simply need a pen, paper and simple math and 90 days. You would be surprised how many people spend and spend with no recollection of what money has left the bank from one day to the next. Write it all down evey bill every impulse buy every meal. Everything needs to be written down, you may ask what will this do for you. It will put in front of your eyes and your brain to process how much money you are spending on a grand scale.
Seeing what you spend on a grand scale is the reality that so many of us are not willing to face. We seem to enjoy living in this financial dream world where money is no obejct and we can live like the rich and famous. Well guess what we are not famous and we certainly are not rich. Writing down every penny that you spend will give you the real picture of what you are spending in comparison to whtat you are acutally making and where you need to make some adjustments to your money habits. Take it one day at a time because as simple as this may seem many people are overwhelmed by money and don’t want to admit their financial woes and certainly don’t want to track their spending. Why 90 days? Because over the course of those 90 days you will not only learn where you are wasting money but you are creating a powerful money saving habit that can save you thousands of dollars every year.
