You are not the only one who looks at their bank statements in dismay, trying to figure where your money went. Many Americans struggle with their finances.
However, it might be simpler than you think to set a budget and keep it in line. The Neat Company has some great tips.(*)(
), a developer of scanning software solutions that helps its customers save, track and manage information, including budgets:www.neatco.comKeep your receipts. Before you can budget, it is important to understand where your money is going. You should keep the receipts of every purchase you make during the month.
Some companies offer digital formats that allow you to keep track of your receipts on your computer. NeatReceipts allows you to scan your receipts onto a computer and then create lists or digital folders to track your expenses.
Organize your bills and documents in one location. Bills, financial statements, and other important documents are often lost in drawers or cabinets that make it difficult to locate them. You can store all your documentation in one location using either a software-based system or a home filing system.
– Track your spending. Review your receipts at the end of each month to find out where your money went. You will be surprised at the amount you spend. NeatReceipts has several reports that can help you determine where your money went – such as for food, utilities, or household expenses.
Take control of your spending. You will be able to identify areas where you can trim expenses once you have a clear picture of where your money goes. If you spend too much on food, cutting coupons, or eating vegetarian once a week, you can cut down. You might consider purchasing energy-efficient appliances to reduce your utility bills. For example, you could turn off the lights when you are done in a room, and wait until you have finished washing all your clothes.
