Finance Tip of the Day

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Where are You Wasting Money?

  • 2019 28 Jun
Where are You Wasting Money?


Where Are You Wasting Money?

Every one of us has one category, or a few, where we know we overspend on regular basis. In order to find your personal waste areas, track your spending for 30 days. It will be very telling - or maybe even shocking! Is it restaurants? Clothing? Electronics? Whatever it is, once you find it, you’ll be able to start setting your financial boundaries. After evaluating your spending habits I’m sure you’ll find extra $25-$50 each month that could be reassigned from waste to savings. Many of our Mvelopes budgeting software users recover up to 10% of their income just by finding waste areas.

This is a great, quick strategy to go from no savings to regular savings, even if it’s a small monthly amount.

Today's tip brought to you by Mvelopes and Money4Life Coaching.