Track Your Spending for 21 Days

Purpose: In order to figure out what you actually value spending your money on, find money to save, and budget more accurately, it is important to track all of your spending for at least two weeks (ideally, a month). By evaluating where you spend each and every penny over two weeks, you will be able to see how accurate you were when you estimated your budget in Exercise 2.3: Make A Budget. You will also be able to decide if there are ways you would like to change your spending or consumption behavior in order to reach your financial goals.

Instructions:

Starting October 2nd and ending on October 29th, keep track of all spending (examples: rent, bills, groceries, coffee, meals out, gas, a pack of gum). It doesn't matter how big or small the expense; record every single penny spent.
To track your spending on the go, you have many options. You can save your receipts or take pictures of your receipts (very important if you are using cash). If you are using a credit or debit card, you can download your bank or credit card company's app where you will see a record of your spending. Or you can write down your spending in a notebook right after you make a purchase.
Use the Track Your Spending for 21 Days worksheet to submit your spending analysis. In Part I, you will record dates, amount spent, a general description of what you bought, the budget expense category, if your spending is a fixed or variable expense, and if your expense was a need, want, or obligation. For Part II, you will answer 7 multiple choice or short-answer questions that will help you reflect about your experience tracking your spending.

Submission for this assignment will start on October 22nd at 11:59 PM and will be due on October 29th at 11:59 PM.