If you are already consumer spending thousands of dollars each year, it is time you begin to learn how to make a spending spreadsheet. You may have a spending record for the past several years, or maybe you simply want to record your expenses, but it is all good for you to see your financial picture in one place.
It has been said that people are different in all ways; it is true and yet it is also important to note that there are different ways of spending money. Sometimes spending can be simple and there is no need to create a spreadsheet. For example, the grocery bill might not necessarily need to be documented, but the monthly mortgage payment should be written down.
However, there is also a third category where the other two do not apply. Then there is the category of impulse. In this category, you may not need to write down what you spent on something that you bought impulsively or that you know you will not be able to pay for.
Create a Spending Sheet For Better Budgeting
No matter which category of spending you fall into, you need to be mindful of creating a financial record. While it may seem like a silly idea to have a spending spreadsheet, there are benefits to creating one.
The first benefit is that it will help you track your spending. We know that there are those times when you get carried away with your spending, however, you may not want to let this happen again. By creating a spreadsheet you can see where your money is going and when you are spending more than you earn.
You may even be able to create a journal that will help you create a clearer record of your financial records. Imagine if you were to plan out a schedule that will help you keep track of your expenses. You would be able to determine when you were really spending more than you earn and the difference between them.
Perhaps you are used to getting credit cards that you have trouble paying because you just can’t resist the spending. While it may seem like you can always get more, it may take some time to get out of debt. This is another benefit of a spending spreadsheet.
Another benefit is that you can use it to plan your finances so that you will be able to create financial records that are easier to follow. You may find that if you simply track every purchase you have made, it may be impossible to figure out what you really need and when you need it.
Instead of just accepting whatever comes from your wallet, you may be able to change your spending habits to one that will help you avoid other financial trouble. At the very least, you will know where your money is going. There will be those times when you are really in need of a change and it may be better to think about how you can do something about it.
For example, you may have a habit of buying in bulk. Instead of just throwing out that book you bought in bulk and writing it off as a one time expense, why not look for a better way to get it done? Then you will know what you need to have instead of spending money you don’t have.
Once you know what you need, you can plan to only spend money that will help you reach your budget. You may want to look at using cash back to get a grocery gift card or your local gas station coupons to save on your weekly purchases. Once you begin looking for ways to save money on your purchases, you will be able to create a spending spreadsheet that is easy to use.
Finally, you will be able to see where your money is going and when it is being spent. Even if you just want to track your expenses and see where they are going, it is time you begin learning how to make a spending spreadsheet. PLEASE LOOK : how to make a spending spreadsheet
