Before you plan where money should go, it helps to know where it goes now. A month of tracking is the foundation of every budget.
How
- Download the last two or three months of bank and card statements
- Sort each item into a category: housing, food, transport, bills, fun and so on
- Add up each category
- Note anything that surprises you; that's where to start
Keep it simple
Don't aim for perfect categories. Ten broad ones are plenty.
General educational information, not personal financial advice. The Thrift Ledger isn't paid by any bank, lender or budgeting app.