Day 3 Categorize Your Expenses

If you really want to take your finances to the next level, then you need to categorize your expenses

Hey Hey!!!! We are rocking and rolling with our finances! Have you organized your finances and found out where your money is going? If so then you are ready for the next step, categorizing your expenses.

If you want your finances to be effective, then you need to organize them in a way that is easy to understand. Here is the most basic way to categorize your expenses. You can slot them into one of the following three categories.

  • Regular payments that you have to make, such as, your mortgage and utilities
  • Expenses you must incur but that could be reduced, such as food, clothing, and transportation
  • Expenses you could eliminate entirely, such as eating at restaurants, going to concerts and frivolous shopping.

In the last two categories, you will find many areas in which you can cut back. It is all about setting yourself up for financial freedom and making 2018 your best financial year yet. Here is your 20-minute assignment for day 3, categorize your expenses.

Facebooktwittergoogle_plusredditpinterestlinkedinmail

4 comments on Day 3 Categorize Your Expenses

  1. Cedalia M Tolar
    November 3, 2017 at 10:55 am (1 month ago)

    This is the hardest part.,CUTTING BACK!! Lol but some things have to be done. Thank you again for this blog.

    Reply
    • tracie45
      November 3, 2017 at 10:23 pm (1 month ago)

      Thank you so much for reading! I know it may be hard to cut back but as you said, Cedalia, it must be done. You are welcome and I am glad that you are finding value in my blog

      Reply
  2. heather
    November 10, 2017 at 10:30 am (1 month ago)

    I’m really enjoying these mini serires. I have learned to cut back on my grocery bill by meal planning. You spend less money in gas by just filling up each time too. I’m not much of a coupons, but I am interested I’m learning how to cut even more on my grocery bill.

    Reply
    • tracie45
      November 11, 2017 at 2:14 pm (1 month ago)

      Heather, I am glad that you are enjoying these mini-series! Meal planning has been my saver as well. I only buy what’s on sale that week and make my meals around that. I see you are interested in learning more about how you can cut your grocery bill. I will share some of my tips with you in an upcoming post real soon. Be sure to check back and thank you for reading and commenting.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Comment *