Budgeting Tips For The Big Things

Rachel Statzell • July 9, 2024

Share this article

Tracking your spending is the first step toward greater financial awareness and, ultimately, toward financial health. However, mastering this skill is easier said than done. How can you track every dollar you spend when you make multiple purchases each day? We’ve outlined how to track your spending in 3 easy steps.

Choose Your Tools

Tracing every dollar’s journey isn’t easy, but with the right tools, you can make it quick and simple. Choose from one of the following money-tracking techniques: Budgeting apps. If your life happens on your phone, you can download a budgeting app like YNAB or Mint to help you track your spending. Both apps allow you to allocate a specific amount of money for each spending category for each month, and will enable you to track your spending with just a few clicks. It’s important to note that YNAB is not a free app, but that it may be worth the price for users who want to take on a more active role in their money management. Spreadsheet. If you like to see everything spelled out clearly, a spreadsheet might be a better choice for you. You’ll need to record every transaction, but if you prepare the sheet with all the spending categories you think you’ll need, this step shouldn’t take long at all. The envelope system. If you’re a big cash spender, consider withdrawing the cash you think you’ll spend in a month (or in a week) and keeping it in an envelope designated for each category. When you need to make a purchase, just use money from the envelope. Receipts. Hold onto every receipt from the purchases you make this month to help you track your spending. Pencil and paper. Recording each purchase the old-fashioned way can help you make more mindful money choices throughout the day. Be sure to keep a steady supply of both writing instruments handy at all times so you never miss a purchase. Review your checking account and credit card statements carefully Along with one of the tools listed above, you can track the purchases you make using plastic by reviewing your monthly checking account and credit card statements at the end of the month. You may receive these in the mail, or you can access them online by logging into your account and downloading. Review and categorize your purchases At the end of the month, use your chosen tool to review all the purchases you’ve made throughout the month. If you’ve used an app or a spreadsheet, adding your purchases to find the total amount of money spent will be simple. The app or spreadsheet may have already helped you divide the money spent into separate categories as well. Similarly, if you’ve used the envelope system, you should know how much you spent on each kind of purchase this month. However, if you’ve chosen another method to track your spending, you’ll need to crunch some numbers to get an accurate picture of your spending habits. When completing this step, don’t forget to include any automated payments you may rarely think about, such as subscription fees and insurance premiums.  

The Bottom Line...

Tracking your spending and identifying your money drains is the first step toward greater financial awareness and responsibility. Use the tips outlined here to successfully master the skill of tracking your spending.

Recent Posts

The Klontz Money Script Inventory infographic with four colored financial behavior quadrants
By Rachel Statzell August 20, 2025
The Klontz Money Script Inventory outlines the different ways people look at money and how that informs their saving and spending habits.
Lone hiker in an orange jacket walking along a snowy mountain ridge in falling snow
By Rachel Statzell August 11, 2025
Debt Snowball and Debt Avalanche are two different approaches to effective debt management and debt payoff. Each offering different methods to manage overwhelming debt.
By Rachel Statzell May 7, 2025
Get to know the in's and out's of becoming or electing a Power of Attorney for your financial future.
By Rachel Statzell April 23, 2025
Buying a used car can be a very stressful time. Read this blog and be prepared when shopping for your next vehicle. Buying used has benefits most don't realize!
By Rachel Statzell April 14, 2025
Use this blog as a guidepost to filing your Federal, State, and Local taxes every year. Don't forget a thing with our tips and reminders!
By Rachel Statzell February 13, 2025
Tips to recognize and avoid romance scams and how to protect your finances from exploitation.
By Rachel Statzell July 17, 2024
Looking for free or low cost adventures for your family in Montgomery County, PA? Click here to see the list of fun activities we compiled just for you!
By Rachel Statzell July 11, 2024
Explore tried and true ways to start saving money.
By Rachel Statzell January 31, 2024
Planning for expenses that change from month to month can be challenging. Take a look at these tips to make it a little easier.
By Rachel Statzell January 24, 2024
Knowing which expenses are a regular part of your budget is essential to successfully managing your money. Learn what fixed expenses are, how to track them, and how much room in your budget you should allocate for them.
By Rachel Statzell January 17, 2024
Read to discover what red flags your budget may have, and how to easily fix them to get you back on the path to financial wellness.
By Rachel Statzell January 10, 2024
Gift card scams are becoming BIG problem in the fraud world. Here's what you need to know and how to avoid a gift card scam.
By Rachel Statzell January 3, 2024
The best way to protect your information is multiple layers of authentication. Learn about Two Factor Authentication (2FA) and how to make it work for you
By Rachel Statzell November 18, 2023
Take a look at all your digital information out there, and asess your fraud risk, then use this checklist to get your accounts secured with our Fraud Prevention Checklist
By Rachel Statzell November 18, 2023
Four simple tips that will make your black friday shopping trip easier, more fun, and less stressful.
By Rachel Statzell November 9, 2023
Setting up secure password practices will save you from fraud later. Read now to discover how to make it a reality
By Rachel Statzell November 8, 2023
Traveling is stressful enough, without fraud slipping in and ruining your day. Plan ahead and read this to learn the latest travel scams and how to avoid them.
By Rachel Statzell October 25, 2023
Recognizing the traits of the most common scams is the first step in protecting yourself against fraud.
By Rachel Statzell October 18, 2023
Learn the tips to differentiate between a legitimate website and a fake or imposter one.
By Rachel Statzell October 7, 2023
The basics to protecting your accounts and personal information against fraud are easy!
By Rachel Statzell October 4, 2023
If you are new to the concept of financial fraud and scams, read this to "get in the know" and become an expert in protecting your own finances.
By Rachel Statzell September 27, 2023
Getting to know credit card interest
By Rachel Statzell September 20, 2023
When it comes time to choosing a credit card, there are many factors that must be considered. In a few easy steps we explain how to find the best fit for your spending habits and financial goals.
By Rachel Statzell September 6, 2023
When choosing a credit card, all the new vocabulary can be intimidating. Here is a comprehensive list of concepts you should know before opening a credit card.
By Rachel Statzell August 28, 2023
They say money creates happiness, but is that true? Take a look at five financial bad habits that you may be doing already, and how to break them.
By Rachel Statzell August 25, 2023
Some questions you can ask yourself when considering opening a Certificate of Deposit.
By Rachel Statzell August 25, 2023
Here are the 5 things you should know when researching a financial institution to open a checking account.
By Rachel Statzell August 25, 2023
Vacations take time to plan, but why don't we take time to save for them also? Here are four reasons why you should start saving NOW for your next getaway!
By Rachel Statzell August 25, 2023
Putting money away in a savings account is a good thing, however interest rates on a traditional savings are often very low. Here are different ways you can turn those pennies into dollars!