money tutorial >>Step 3 >>adjust your money behavior >>part 3 >>track your money
Track Your Money
Since you now have a basic understanding as to why you handle your money the way you do, it's time to start tracking your money.
Why Track Your Money?
The only reason you should track your money
so you can learn to keep most of your money in
your pocket instead of having to spend all of it.
How To Track Your Money Right Now?
It very important to understand how to track your
money. There are many ways to do this, but I
want to show you some ways I used to track my
money.
This money tracking method has been a blessing
to my financial life.
It is easy to follow and it can be done in a short period of time. Before you realize it you will be
seeing ways to keep more of your money.
Here Are the 6 Steps to Tracking Your Money Immediately
1) Track your financial lifestyle.
You can do this step right now. Its easy to do and when you finish with it you will be able to see where your money is going when it comes to entertainment. Then you can make the proper adjustment to stop spending so much money on entertainment therefore allowing you to keep more money in your pocket.
2) Track your spending.
Its easy to track your spending. Read here to learn how to do it. One way of keeping track of your spending is to create a simple budget and there you have it. You can click here to learn how to create a budget.
3) Control Your Spending
Simple put you must control your spending or at least limit the amount of money you spend. Try to find ways to reduce the cost of everything you buy. Never buy things on impulse. Follow your budget and don't deviate from it when trying to control your spending habits. Read this to learn how to get your spending under control.
4) Examine your insurance needs
One area of insurance that you can keep more money right now is automobile insurance. Learn all about automobile insurance so you can communicate better with insurance companies and agents. Let them know that you're trying to lower your premium. Continue to get auto comparison rates from as many insurance companies as possible. Then go with the one that offers you the lowest possible premium for the same amount of coverage.
Check to see if you really need all the coverage you have in your policy. Ask your agent bout this. You might just discover that you don't need some of them and can possible get a reduced rate by dropping some of things that covered in the policy. Click here to learn about about insurance.
5) Evaluate Income Earnings
Find out whether it will be beneficial for you to increase your withholdings (federal and state) from your paycheck and bring that extra money home. Once you decide to do it and then fill out a new W4 from your employer, you can start bringing more money home within weeks.
Again you need to understand this process before you venture into doing it. Please note that the money that is being withheld is for your taxes. If you decide to bring home that money, you will have to pay it back when you fill your federal income taxes. So read this income tutorial before you consider doing this.
6) Watch banking fees and charges
Don't pay anymore of your money to banks. Read this to learn about banks and banking fees so you can keep your money instead of giving it to banks.
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Hi, I'm Abbie.
Your financial
education tutor.
Welcome!
