Best Way To Manage Your Expenses

To successfully manage your expenses you must see your cash flow. Over the years talking to many individuals I found that we don't want to pay by the credit card because we are scared to see the resultant amount to pay by the end of the month. However, seeing is better than not seeing. Seeing will make you aware how much cash is sometimes going to waste. Here are few examples how you can make your cash flow visible. In some cases it requires a bit of work, however, on the end it is worth doing.

• Pay for everything with credit card. Even if you have many credit cards, try to use one main one. These days even places like fast food restaurants accept major credit cards. Take advantage. You know that with credit card you are not paying now, but later.
• Keep track of items you paid by cash. Create spreadsheet or form to record your cash spending.
• Keep track of all your expenses including house utilities.
• Keep all your receipts and match them to your credit card statement. Credit companies and stores make mistakes also, and you can easily pay for errors from your pocket.
• On your expense spreadsheet also keep track how much GST or PST you paid, any delivery charges, cash back, and coupons. Having items like cash back and coupons will actually make you feel better. Every year I save over $200 CAD in coupons and get about $400 CAD in cash back through credit cards.
• Evaluate your spending and once you see some money wasted, do something about it.