Get back on track by noting what you have spent money for last month such as: food, clothing, computer, entertainment, housing, donations, and more. When you see the numbers, you just might want to cut back. You will also learn that most of what you bought, you really didn't need and you could have saved that money for something you do.
Think about ways to do things better this month. You might need to cut back on the random snacking, stop visiting people for awhile, and volunteering to help others. You will also discover that you might be bored during certain times of the month which will cause you to spend more.
There are apps that can help you stay on track when it comes to setting up financial goals. Maybe you need to start setting aside money for a purchase, a vacation, a holiday, or something else. Check out what is available in the app store. Also, note your goals and post where you can see them daily.
Here's an example:
Entertainment (movies, restruarants) - Last month $100. This month cut by 50%
Groceries - Last month $250 household contribution. This month add additional $50
Clothing - Last month $25 for a designer t-shirt. This month no wasteful spending.
Utilities - Last month $100 contribution. This month, no change.
Savings - Last month $0. This month take money saved from not going out and add here.
December vacation - Last month $20. This month and going forward will need to add at least $75 monthly.
Donation - Last month $5 (will need to start getting receipts for taxes). Next month no more than $20.
You get the point. You total receipts, then note how much you spent. You will use the totals to determine how much you will save, invest, donate, etc. Consider using envelopes for cash or setting up separate bank accounts for your plans. To your success!
Nicholl McGuire shares other interesting information on YouTube channel: nmenterprise7 and When Mothers Cry.