Create a Realistic Spending Plan
Now that you’ve seen how much you make and how much you spend, you’re probably wondering if you’re spending your money wisely. Are there too many “wants”? Are you paying too much for “needs” like food or transportation? How much should you be saving each month? Financial counseling can help, but only you can answer these questions.
You must look at your spending habits and create a realistic spending plan!
Daily Spending Diary Worksheet
(adapted from FDIC Money Smart Program)
Track Where Your Money is Going
Use this Daily Spending Diary worksheet to track where your money is going. You are far more likely to save when you see how small, miscellaneous purchases, such as coffee and snacks add up … and how easy it can be to save by eliminating or cutting back on just one or two of them. Use the Diary to track your spending for one month. You may be surprised to see where your money is going.