Tuesday, January 22, 2008

My Money Saving Tip - Knowledge!

Like, I have just one! Anyway, No Credit Needed wants to know money saving tips from bloggers so here is mine.

I believe 100% percent that you can't build wealth unless you are knowledgeable. By this I mean that you know exactly where each penny is going because you write down each expense on a spreadsheet or something. When you see all of your expenses written down, you are able to spot exactly where the problems are and can cut them out immediately.

Before we started tracking our expenses, I never really thought our eating out expenses mattered all that much. We ate out at least once a week, but we had the "I deserve it" disease. Once we wrote it all down, we saw that over $300 was going to bad restaurant food EACH MONTH! Now that we've cut that down, it's like we got a $300 raise.

Track those expenses!