Tracking my savings each month has been amazing!
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I am able to see how much I can save each month and the progress I have made, which greatly motivates me as I finish out saving the money for my husband’s school.
And my attitude is no longer one of hopelessness, feeling like I am working sooo hard only to just spin my wheels in the same financial place I have been for so long!
This has been such a game changer for me!! And it can be for you too if you start tracking your savings each month!
Each month, I detail out where any extra money came from and how much I was actually able to put into savings.
I first started tracking every single dollar I was able to save in 2015 because I was discouraged as I never seemed to make any progress towards my money dreams.
Every dollar I was able to trim from my budget and every dollar of extra money that I brought in was counted, as long as the money went into savings that month.
Through the experiment, I learned a couple of things.
- No amount is too small to count.
- Tracking your savings increases your motivation to cut expenses and bring in extra money.
- Making your money dream progress visual will actually help you reach it much faster!
- All the small amounts of money put into savings adds up to a sizable amount.
February 2016 Savings Report
Extra money | |
 Skimmed money from budget | $191.34 |
Trimmed monthly expenses | $108.11 |
Money saved for annual bills Random money | $375.00 $80.00 |
Cash back from bank Second job Extra hustle money Money from Blog | $6.82 $259.35 $1,621.00 $27.07 |
| |
Total Saved | $2,668.69 |
Account | Amount | Running Total |
|---|---|---|
School Emergency Blog | $1,456.00 $36.27 $27.07 | $1,970.31 $1,657.40 N/A |
Bills/Expenses | $933.35 | N/A |
Notes
I saw some income coming in from my blog this month and it is neat to see the growth!! There are several things I am working on behind the scenes to start bringing in more blog income over the next couple of months.
Small changes can really add up over time! I am super excited to see how much I was able to save over a year just by condensing my cell phone plan and changing internet providers!!
What small changes can you make to your budget with just a couple of phone calls?
However, it’s not only making those phone calls and getting a lower rate, but tracking your savings and intentionally putting that money towards a specific purpose is really where you will see the savings add up.
If you don’t decide how you are going to use your new found savings, it’s sooo easy to spend that extra money!! Make a plan when you first trim expenses and start tracking your savings to see how much you get over a period of time!
You can read all the rest of my Monthly Savings Reports here.
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Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!
