How to find the black holes in your budget

Black holes in your budget are areas where your money goes, but you don't realize it.
We all know how much we spend of the big stuff, housing, utilities, insurance, car payments, etc..
Like the old saying goes "the devil is in the details". When you take your lunch to work or school to save money, but the budget you do at home says you should have money left over at the end of the month, but you don't, then you have a black hole or two.
The best and easiest way to identify a black hole is to keep track of all of ALL of your expenditures. I suggest that you get a small pocket sized notepad and carry it with you everywhere. If you track every cent then you will come to see where the nickels and dimes are going. Remember to count the kids' lunch money, the coffee you grab on the way to work, the snack from the vending machine, the sandwich you bought from the wheel of death (joke), and the dollar you put in the Salvation Army kettle outside of the grocery store.

Those small amounts add up to big dollars at the end of the week and bigger dollars by the end of the month. A good rule of thumb is to track these purchases for a minimum of a week, two weeks or a month will give you a more concrete idea of the trends in your spending habits.

I hope this helps your to find your own black holes!

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