Mistake _ Not Tracking Your Spending and Expenses _ It is impossible to keep to your monthly budget if you fail to track your spending. It is recommended that you fill out both a weekly expenses report and a monthly expense record worksheet to track your spending and monthly expenses. It you don't track you spending you will not know what areas of your budget you need to adjust for next month.
Almost everybody I know, which includes me, has let a budget get out of control at one time or another. I really think it used to be able to control personal finances because it was not as easy to spend money. As I work on my own budget, and as I speak to people I know, here are some common problems that get people in trouble. Debit and Credit Cards. It is just so easy to buy things by swiping a piece of plastic that we lose track of how much money we spend. A decade or so ago we spent cash or wrote checks. It made us think about spending money more as we had to carry enough money or go through the act of writing and recording our checks.