Where Does Your Money Go?

Where Does Your Money Go?

I came across and article this month with a good info graphic about consumer spending in the US. If you now me, I love to share good stuff on my blog. You may be interested in these stats and compare with “where does your money go“.  Things like this made me study typical consumer spending and see how my budget compares, and how to save.

Studying how your money is being spent can help you find ways to SAVE your money! My personal financial goals over the last couple of years have helped me reduce and eliminate my debt. It has been slow and steady and helped me reach the goals I set. Yet my savings (or lack thereof) is still an issue. This time of year makes me prepare for analyzing the bottom line for 2017. By the end of December I will start planning for 2018. I always set my goals, and they will be in writing. You might want to give some thinking time to this type of planning too.

My financial goal for next year are very simple – SAVE, DON’T SPEND!

We are all taught to watch our expenses, but often we get so busy that we lose track of where the cash goes. Those quick trips to Publix can eat up my grocery budget quickly when I don’t plan ahead. You may find other areas that suck your money. It might be the entertainment or transportation categories on the graphic. See how your numbers compare!  Go ahead and save this infographic and study it – it may help you plan your goals for 2018 too.

Compare your spending to this graphic from US Department of Labor

 

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