Reflection About Spending Journal

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The spending journal was an interesting assignment. It really makes you take hold of your finances and it helps you plan for the future. When you aren’t keeping track of how much money you spend each month, it is easy to convince yourself that you are spending less than you really are. Writing down each and every thing you spend money on creates a very strong awareness of what you spend on a daily basis. My spending journal took me by surprise. It made me realize that I spend the majority of my money on random, unnecessary things. I became aware of the fact that I spend 4 times what I had estimated I spend in one month. I now realize that I spend a lot of small amounts but that they add up quite quickly. The spending journal makes you realize what makes up the vast majority of your expenses. For me I personally spend a lot on food and recreational expenses that I want but don’t …show more content…

That is a bit of an upsetting fact. I am going to look into how much I could save in loans by both getting another job this summer and by saving less money for spending throughout the year. By doing this I hope to not take out any loans next year and hopefully not have to take many loans in the years of college to follow The spending journal assignment is a great starting point for anyone who is looking to get a hold on their finances. It is beneficial because it helps you see what you spend the most money on and it allows you to change your spending habits. Not only does it make you more aware of how you spend your money, but it also makes you more accountable to yourself for how you spend it. I think that spending journals should be more common than they currently are in society. In fact the government could probably benefit from using a spending

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