Frugal Living Made Easy

Now that you have had some time to keep your spending journal you have probably noticed some patterns.  Let’s take a look at your journal in a systematic way.

Take the first couple of hours of your day and look at your spending in that time period every day.  We want to classify your expeditures as either daily or long term items.  Long term items are fixed expenses that you do not control on a day to day basis.  These items would be things like rent or house payments, utilities, car payment, insurance payments, medical expenses, and so forth.

Daily expenses are those that we control day to day.  Do we brew coffee at home or pick it up on the way to work?  Same for breakfast.  Do you take a cab or the subway to the office.  These are the expenses we at which we want to look closely.  These are places that Spendy can get out of control.

So look at the expenses in your journal and label them as Daily or Long Term….  Work through each time period in your day.

Next time we will take a closer look at Spendy and Thrifty.

Wishing you a magical day,

Angel

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