The average person has no clue what they are spending each day let alone every week. Our days can be full of purchases from small snacks at work to lunches on the go to stopping and picking up groceries, but if I asked you at the end of the day what you spent, could you tell me? Probably not. Hence the very important need for keeping track of what you spend.
Statistics show that you will spend 30% more when using plastic (credit or debit) as we do not stop to really think about what we are spending versus when using cold hard cash.
Would you be willing to track everything you spend each day for one week? Take an index card with you each day to work or use your notepad on your cell phone to write down the date, item or category of items bought, and total amount spent. This includes any purchase over the cost of 1 penny. And next week, we’ll talk about what to do with those records.