Friday, July 13, 2007

Lessons Learned From Tracking My Expenses


I never thought that tracking my expenses would reveal anything, and it didn't enlighten me by itself.

It was only when I started categorizing my expenses did I realize where I was spending relatively large amounts.

One Surprise Large Category: Gifts

Weddings, My wife's nieces and nephews bdays, my bday, my wife's bdays, Father's Day, Mother's Day, Get Well flowers, My Parents Birthdays, my In-Laws Birthdays, Christmas, and Baby Showers.

We spend a ton of money on getting people gifts. I am going to have to figure out what I can do to curb this spending category.

1 comment:

Anonymous said...

Isn't it interesting how the classic tool for debt reduction is tracking spending, but how few of us actually do it?

I'd love to see a poll about this on here sometime.

Good luck with the gifts. I've found it to be an easy area to get creative with in terms of giving and spending.