How do I track the money I spend?

Your plan to improve your credit may be to pay down your credit card balances. Or, you may want to focus on paying your bills on time every month. Whatever the case, you will need to make money choices.

Making money choices can be hard if it seems like money is tight every time you get to the end of the month. One way to “loosen” up your money is to track how you spend it. And what easier way is there to spend money than on the “small stuff”: vending machine snacks, coffee, fast food, and DVDs. A good way to track how you spend your money on these “small” items is to keep a spending diary.

So let’s take a look at the numbers. How much are you spending each week on “small” things? Carry a pad of paper and pen around with you for a week and jot down what you spend.

Click here to use My "Small Stuff" Spending Diary Worksheet >>

By taking a close look at these small purchases, you can see how they can add up to big money. Reducing or eliminating these types of purchases can free up a lot of money—money you can put toward meeting your financial goals.