I make a decent income. I live frugally. I pay off my credit cards in full each month. I set money aside in investments for retirement. I am doing everything “right.” Yet I still feel as if I am a financial mess sometimes. Despite doing everything right, sometimes I feel like there just isn’t enough money left at the end of the month.
Why? What am I doing wrong?
Financial experts recommend tracking your spending as an effective ways of taking control of your finances. So, my experiment is to do just that – track my spending and expenses for a year. Everything. Each penny. Anonymously.
You may be asking why I would choose to do this online… out in the public for all to see? I have decided that full transparency is the best approach here. I want to know people are watching and expect me to follow through. I want to be honest with myself, and with you.
Through this year-long experiment I hope to achieve two things:
1.) Cut down on wasteful spending before it occurs
2.) Evaluate how I spend my money in order to help me make wiser decisions in the future
The journey begins November 1st… stay tuned!