How To Carry Out An Annual Spending Review

One of the reasons I like to put most of my spending on credit cards is that it makes reviewing my annual spending particularly easy.

Gather Your Records

When it comes to making a budget, one thing that will often trip you up is a lack of understanding regarding what you actually spend.

Categorize Expenses

Categories you might find useful include:

– Rent – Utilities – Car payments – Gas – Insurance – Phone contracts – Food – Travel – Education – Savings – Debt repayment – Fun

Yes, it’s fine to have fun money in your budget.

Review

Now you can take a close look at how much you spent over the last 12 months, and what you spent it on

One last step before you make your budget should be looking at that review and seeing where expenses can be cut

The Final Step

The Final Step

Money Management

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