How many times have you wished you had more cash? When you do, do you also wonder where all your money went? With work, household chores, kids, and other chaos, keeping track of your budget can seem hard. However, taking a minute to audit your budget every now and then can help you get back on the right track and help in the debt relief process. It can be tough to keep track of all of your spending for any given month. However, tracking is the best way to find ways to save. It’s easy to forget certain expenses such as unused club memberships or magazine subscriptions. Or you may have gotten used to getting your morning coffee and lunch from out every day.
Audit Your Budget – Let’s Break it Down!
First things first – in order to audit your budget, you need to have one. If you don’t already have a budget, then create one. It’s a great way to identify what you are really spending your money on each month. Doing so will help you identify areas of your budget where you can spend less and use that money to get out of debt. ACCC’s household budgeting worksheet is a good place for you to start! Using this worksheet, you can write down everything you spend, whether it’s recurring monthly bills like rent and utilities, or less frequent expenses like haircuts and clothes shopping.
Audit Your Budget – Take it a Step Further!
If you want to take it a step further and really dig into your spending habits, download ACCC’s daily expense tracker. This will help you account for every dollar you spend on a daily basis, and will ultimately paint a clear picture of your spending habits and how you can save money.
Use these worksheets to audit your budget, and you will most likely find areas where you can spend less, save more, and put more money towards bills, debts, or paying off credit card debt.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.