Spending Analysis

Spending Analysis

The spending analysis was a great project. I used three steps to better my spending. These steps helped me to put my needs first and my wants second.  I researched a few ideas and picked what I thought was best for me.

The first step I chose was to keep note of my spending.  I wanted to know how much I was spending on unnecessary things.  The number one thing that I was spending my money on was food.  I was eating out all day and buying unnecessary junk food.  After I realized what I was spending my money on I decided to try to change it.

The second step I made sure I took care of all my needs which were my rent and bills. I made sure after I got paid, I took care of my important bills first. I also wrote down the important items I needed for the month. I calculated all of my important expenses.

The third step was deducted all the important things.  After I took care of all of my important expenses, I calculated what I had left.  That money I put half of it to the side.  Which was my savings account? If I had anything left, I would then buy something I want.  I also started to purchase lunch food so that I can decrease the amount of fast food that I spent.

Overall the spending analysis taught me a lot about the importance of spending.  I am now doing a better job at keeping up with my expenses.  I decreased the amount of unnecessary. I stop doing a lot of extra shopping and buying unnecessary food.  I keep note of my spending in my notes. I also keep tract of my bank account statements so that I know how much money is in my account.