Friday, January 15, 2021

What Tracking My Spending For 1 Month has Taught Me

In 2020, I started keeping a financial journal that was basically for keeping track of my credit card payments and spending habits. I wanted to have concrete proof (besides my online banking app) 

It's true what they say: you don't realize how many silly or unnecessary purchases you make until you sit down and actually look at them with your own two eyes. It's so easy to just avoid them and forget about them otherwise.

Photo by Kaboompics .com from Pexels

So I started looking at my spending back in December and these are the things that I realized.

1. I have a lot of food in my house

I spend quite a good bit of money on groceries because I idealize my diet. And I shouldn't. Instead I should be realistic about what I'm going to eat and what I'm not going to eat and only by the things that I can actually eat in a week, rather than hoarding food.

I use hoarding loosely. Maybe stockpiling is a better term for what I do. I've grown to like have excess on hand even though it's not necessary.

2. I Really like getting Takeout

It's counterintuitive how much I like to get takeout, since I also have a lot of food in my house. That's why one of my goals for this year is to get takeout once a week and eat the rest of my meals at home.

3. It's easier to Not Spend Money when I Spend Most of my Time at Home

During quarantine, I've really been spending most of my time at home. I go to my office 1-2 times a week, I go to the grocery store once a week, and I usually see my boyfriend on the weekends since he usually has bike rides he does on weeknights.

That means I haven't been going out and spending money. Which is good! Hopefully I can continue this trend once the world gets vaccinated for coronavirus and we're all out and about in the world again.

4. I Use Spending to make myself Feel Better

It's true. I'm not proud of it, but sometimes I just want to buy something, even if it's something small. Why is that? I don't know. But it's something to look into in 2021.

5. Once you get into a "No Spend" Groove, it's really easy to continue

When I first started taking action towards my debt and overspending issues, I would challenge myself to see how many days I could NOT spend money. And it's a lot easier than I originally thought. Once you get into a groove, it's pretty easy to continue because it feels good.

Do you track your spending? Do you use an App, or a journal like I do? Or maybe you keep an actual checkbook. Let me know in the comments because I'm curious.

xo Marian

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