Have you ever had cash in your wallet or money in your account and you get to the end of the week and think, “Dang. Where did all that money go?” And, chances are, you won’t remember most of it.
For our third week in Do In 52, we want your entire family to become more aware of what you spend in one week by tracking it–all of it! So, grab a notebook and an envelope for each family member who is old enough to spend and get at it. Just have people log what they bought and the amount.
The rules are easy:
Save a receipt or write down in your notebook every single thing you spend money on for seven days straight.
Spend $120 at the grocery store? Write it down.
Spend $20.01 at the gas station (come on, we know you go over when trying to stop on the .00 mark), save that receipt. Pay the electric bill? Log it. Buy a pack of gum at the school event concession stand? WRITE IT DOWN. (Yes, we are totally serious.) Order an Amazon book that auto-bills your account? Yep, you have to track that, too. Anything that comes out of your personal funds, you need to track it for the week.
Part of the reason that people have such a hard time with budgeting and saving money is that they don’t realize exactly what they’re spending, especially on little things that can add up fast. At the end of your seventh day, collect all the receipts and notebooks from everyone and add it up. We’re pretty sure that you’ll find some corners you can cut immediately, and then probably some things you can work on longterm.
So … get to tracking!
It’s never too late to start! Each of our challenge prompts are made so that you can join at any time and start changing your family 2013!