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Saving Your Way to Success : About The Author : How To Order : Contact Us
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Having budgeting problems?
Your “Spending Leaks” may be the culprit preventing you from budgeting your money. Spending Leaks are those small things we like to spend our money on that saps the success right out of a budgeting plan. If you like to stop for coffee at the convience store every morning, you have a spending leak. If you like to spend money on movies, either at the theatre or DVD’s, you may have a spending leak. How about that extra pair of shoes you just bought when you don't wear half the pairs you already own?
Nearly 28 million households in the U.S. do not own retirement accounts of any kind. Nearly 37% of Americans households are not planning or budgeting for their financial future! Are You?
| Source: Investor Newsletter, Spring/Summer 2006, P.5 |
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Finding your spending leaks is a key part of your budgeting plan being successful. You can use our spending leaks worksheet to help get started in finding and plugging those leaks that are damaging your budgeting plan.
Guidelines in using the worksheet:
The categories below are “spending leaks” the average person will have. But we’re all different. Substitute your own spending habits, especially those small habits where you spend a few dollars a day or a week on something.
You may consider a category as not a spending leak because of how much enjoyment you receive from buying the particular stuff. You need to consider how much it is damaging your budget plan and if it’s worth it.
Incorporate this worksheet with a budgeting plan/worksheet to be effective. You can find more budgeting help at Budgeting help.
Fill out the worksheet one column at a time. Multiply the cost per item by the number of times you bought it in the last month. Multiply your answer by twelve months, then tally the total cost of how much you "Spending Leaks" are costing you every year!
You can get your free printable "spending leaks" worksheet here.
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Saving Your Way to Success : About The Author : How To Order : Contact Us
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