Track Your Spending

Physician's Money DigestFebruary28 2005
Volume 12
Issue 4

One of the first jobs you have to tacklewhen you create a budget is finding outwhere your money goes. It's not alwaysan easy task, especially if you make a lotof cash purchases. To help you trackspending, try using a single credit or debitcard for all of your purchases for at leasta month. Pay cash only for items that costless than $5. When your monthly statementarrives, you'll have a snapshot ofhow you're spending your money. Onceyou have those figures down, you canstart the budget process. Using personalfinance software like Quicken ( can also help you track billsthat you pay by check (eg, mortgage paymentsand utility bills).

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