Jump Start Jan Week 1: Day 1: Start a spending diary

Day one of the Jump Start is deliberately designed to be very quick and easy, just in case you’re feeling delicate today after last night’s celebrations. All you have to do is start a spending diary.

finance day 1

Simply keep a note of everything you spend each day, ideally for the rest of the week. You don’t need to include things like regular direct debits and standing orders, only the bits and bobs that you buy here and there on a day-to-day basis.

Keeping a spending diary is useful way to:

  • uncover personal weak spots and areas of overspending
  • prompt changes in your behaviour
  • help create realistic budgets

Use a small notebook, a smartphone app, a page in a work diary, notes on your phone – whatever you prefer. Ideally, make it something convenient to carry around with you all the time.

This year I’m going with the low tech option, and writing it all down on the back of an envelope. Very quick and dirty, but it works.┬áHas anyone seen any good free apps for spending diaries? If so, please let me know.

NEWSFLASH! The pennygolightly.com Jump Start 2013 ebook is now available at Amazon. You can use it all year round, and it contains all kinds of extra tips and resources to make your Jump Start January go with a bang. We’ve put loads of work into it and we’ve deliberately kept the price nice and low – please buy one and help support this site. There’s more information about the ebook here.

 

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