May Tips: Chart Your Spending

Creating a chart of your expenses can be a huge help in visually seeing where you are actually spending your money. Since you should have all those expenses put into categories, take those categories and enter them into an excel chart to create a pie chart, or add the total together, then divide each category by the whole to get percentages for each. You may find you’re spending 15% on paying down debts, and 15% on groceries, but 12% of that is eating out at restaurants. Seeing these charts and percentages can really open up your eyes on where your money is going… and if you really want it going there!