**2023 UPDATE - NEW video tutorial & budget spreadsheet for Excel & Google Sheets here: https://www.youtube.com/watch?v=bRuX4hbNvK0
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I know it sounds corny (I KNOW!) but since I started really, diligently tracking my spending...my world has been rocked.
I've always been pretty good at managing my money, but the one thing I regret not doing consistently is tracking my spending. Instead, I would just budget in a way where I would pay myself first (allocate my net income towards my savings goals first), then pay my fixed expenses and bills, then whatever is left over...spend. And this worked fine and is still a great way to stay on budget and not overspend.
BUT...one thing it didn't help me with was getting insight into my spending patterns. I had an idea of what I spent, but I never had a number, or numbers, that indicated where all my money went.
Once I became self-employed over a year ago, I realized that I was super diligent with tracking all my business expenses, but I wasn't doing the same for my personal expenses. I wanted to change that, so my husband and I started tracking our spending and did it for an entire year.
What we discovered was pretty interesting, and it really helped us stop spending money on stuff we didn't value, and start spending money on things we did value.
I'm not perfect, and I still sometimes spend money on stuff that's not important to me, but by tracking my spending every month, now I can see in black and white what I'm spending my money on so I can do better.
In this video, I also share the hard numbers of what I spent my personal money on in 2017. I was pretty surprised by what I discovered and just goes to show I still have some stuff to work on to be a better, more conscious spender.
📹 WATCH NEXT
NEW 2023 Budget Spreadsheet https://www.youtube.com/watch?v=bRuX4hbNvK0
More budget spreadsheets https://www.youtube.com/watch?v=Z9qDC1OPQD0&list=PL5eULUZCKzPzgjv9JoMoF2ElAUbi89whr
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I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada®, speaker, content creator, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and run my own business, MoorMoney Media Inc., to educate others about financial literacy. To learn more, check out my website https://jessicamoorhouse.com
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