{budget}fab*

log and manage

Posted on 13. Jan, 2010 by racine in penny pinchin'

Our friends over at SavvySugar.com made a great suggestion in their post titled, “Tighten Spending by Logging Receipts by Category.”  Take a look at the article yourself, but in summary the posts describes how a young woman was able to manage her budget by logging receipts based on category (food, transportation, entertainment, etc.) and then later adjusting her spending.  It’s the start of a new year, so what better time to get your spending under control.

To take this advice a step further after logging your receipts and deciding where  you want to allocate funds and how much, try using the cash envelope system.  We did a post about this last year and it really works!  You will have more visibility over how you spend your money using cash as opposed to using debit/credit cards, so why not give it a try?

Let’s be more financially responsible in 2010! These two little tricks are a great start.

Tags: cash envelope system, logging receipts, ways to save money