Building a Money Map!
Okay last time I told you that I would give you some tips on how to start your own money map.So here is the first one… you need to start a daily log of what you are spending your
money on.
I want you to write down everything… coffee, lunches, movies, gas, groceries everything! If you tend to use your debit or credit card for all your purchases – make sure you keep your receipts so that you can enter those amounts that you are spending. (We will talk about using ‘plastic’ next time…!)
Words of caution because I have seen this over and over again, don’t make this a judgment exercise and start analyzing everything. This is not the time to do that.
You just need to be conscious of where your money is going. If you want to build your money map you need to have the right figures to build a plan.
You just need to be conscious of where your money is going. If you want to build your money map you need to have the right figures to build a plan.
I use a easy computer money program called, ‘Quicken’.
I find it an easy to follow program that you can set up without having to be a bookkeeper or an accountant. You can set up your own categories to keep track of all your expenditures. So not only what you are spending your money on, but how much and when. You will need a minimum of 30 days – the more the better – but this will still give you a good starting point!
This is the first step to building your own personal money map…next time I will talk about step 2 – why CASH is KING!
Stay tuned!
To your wealth!
Shari
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