The first time you do this, you may be in for a shock. Do I really spend that much on eating out?
Like many Americans, our biggest budget items are housing and health care. Food and transportation are next, followed by our utility bills. The biggest categories also have the potential for the biggest savings, so when looking for savings, focus effort there.
However, there is a ton of low-hanging fruit in the smaller amounts in your budget to cut back. Look for opportunity, make a plan and attack. That freed-up money can then help you meet your budget, pay off your debts and establish that non-existent savings.
You can do this. I promise.
By focusing on getting your finances straight you can reduce financial stress, and perhaps even income. And we now know that reduced income can mean greater freedom. And that’s priceless.