The Life-Changing Magic of Tracking Your Spending

Keeping track of your expenses is a powerful tool. It’s perfect for reigning in your expenses and getting rid of debt.

But tracking reveals so much more. You’ll see where you’re spending your time and energy. You’ll discover bad habits and blind spots. You’ll realize where you’re trying to fill a hole in your soul. You’ll quickly see what’s missing in your life, areas of deprivation, like vacations or medical visits or new underwear.

Tracking also has a ripple effect. In an Australian study, where participants wrote down every purchase, not only did their finances improve, but they smoked and drank less, ate less junk food and they were more productive.

 “As people strengthened their willpower muscles in one part of their lives,” the study reported, “that strength spilled over into what they ate or how hard they worked. Once willpower became stronger, it touched everything.”

The fact is, when you change your relationship with money, other areas of your life will change as well. It’s almost uncanny how it works.

I invite you to accept this challenge. Buy a small notebook or get a blank check register. For one month, write down everything you spend and all the income you receive. Do this by hand (I promise it will make a difference).

If you decide to accept this challenge, leave me a comment below. Next month, I’ll ask you to report your experience.

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Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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